Author Archives: the HedgeCo News Team
UPDATE 1-Hedge funds threaten NPSI with proxy fight
Reuters – A group of activist hedge funds on Thursday threatened North Pittsburgh Systems Inc. with a proxy contest if certain measures to boost the value of shares in the telecommunications companyare not taken. Bulldog Investors, Santa Monica Partners and […]
SEC agrees to share hedge-fund probe info with Senate
MarketWatch – The Securities and Exchange Commission has agreed to share some internal memos and make available staff for interviews with Senate investigators probing whether a hedge-fund investigation was derailed because of political interference, according to a Senate spokeswoman. The […]
Hedge Funds Shifting Commodity Investment
HedgeCo.Net (New York) – At the start of the year thanks mostly to unstoppable rally in crude, commodities were attracting a lot of media hype and interest from investors. New investment vehicles such as commodity-based hedge funds were launched, and […]
Delphi gives funds further access to data
MSN MoneyCentral – Delphi has agreed to give its two largest shareholders access to more confidential data as the pair of hedge funds try to put together a restructuring and refinancing package forthe bankrupt US car parts maker. Appaloosa Management […]
Cruise Gets First Funds for Projects
Herald Tribune – Analysis – From Australia to Argentina, erratic weather is slashing wheat crops of the major producers, which is threatening to push up prices to multi-year highs and making itdifficult for countries to replenish stocks. While the world’s […]
Hedge Fund Makes Play for Porn Provider
Smart Money -The worlds of pornography and hedge funds combined this month when activist-investment firm Steel Partners proposed a management buyout of New Frontier Media Inc., an adult-entertainmentcompany. During a recent New Frontier board meeting, Steel Partners manager Warren Lichtenstein […]
Hedging Without a Hedge Fund
It’s been an up-and-down summer for stocks, and Labor Day weekend might not mark the end of Wall Street’s worries (see BusinessWeek.com, 8/18/06, “Can the Rally Keep Up?”). As uncertainty continues over economic growth and inflation, many investors may be […]
Pep Boys Puts Hedge Fund on Board
Houston Chronicle – To head off a proxy fight, Pep Boys on Wednesday named a representative of a major shareholder to its board of directors. The Philadelphia automotive parts and service chain appointed as director Thomas R. Hudson Jr., managing […]
Hedge funds play hardball with late filing firms
Pittsburgh Post-Gazette – Hedge funds looking to extract bigger returns from the companies they invest in have come up with a new game of hardball: Fail to file a quarterly report on time, andthey’ll try to make you pay off […]
Deceptive trading costs brokerage $600 million
Akron Beacon Journal – Prudential’s brokerage subsidiary agreed Monday to pay $600 million in fines and restitution for deceptive market timing in trading mutual fund shares for wealthy clients. The settlement with the Justice Department is one of the largest […]
Late Filers Facing Wrath of Hedge Funds
BankNet 360 – Hedge funds are flexing their financial muscles, demanding companies that do not file quarterly reports on time to immediately repay all their debts. Technically, companies do default on their outstanding bonds when they fail to punctually file […]
Hedge fund Boussard & Gavaudan plans Amsterdam IPO
Reuters – Asset management firm Boussard & Gavaudan plans to list shares of a hedge fund on Euronext Amsterdam to raise cash for equity investments, the Wall Street Journal reported on Tuesday. The fund, Sark Holding Ltd, will go public […]