Author Archives: the HedgeCo News Team
Pieces Still Missing for Bank of America After FleetBoston Acquisition
Nov. 2–Bank of America chief Kenneth D. Lewis bragged last week that his $47 billion purchase of FleetBoston had created a “long-term vision for a truly national bank.” Not quite. While the new Bank of America will have a strong […]
Elan eases debt burden with successful placing
Irish pharmaceutical company Elan has eased its medium-term debt obligations after successfully placing 35 million shares and $460 million (E395 million) in convertible bonds within 48 hours. Markets responded positively last night as the company placed the shares at $4.95, […]
Investor Is Concerned about Allegations against Wisconsin Mutual Fund Firm
Nov. 1–Strong investor Bill Van Lieshout of Madison is in a quandary, and he doubts that he’s the only one. Van Lieshout has placed thousands of dollars in Wisconsin’s EdVest college savings program, which is managed exclusively by a unit […]
Regulators Propose Major Changes to Mutual Fund Structures, Operations
Nov. 1–Is your mutual fund safe? Despite the scandal roiling the $7 trillion mutual fund industry, the answer is probably yes. Or, to put it more precisely, at least as safe it ever was, given the turbulent nature of Wall […]
Many pennies prove costly for mutual fund industry
NEWS ANALYSIS Many pennies prove costly for mutual fund industry By FLOYD NORRIS New York Times Saturday, November 1, 2003 New York — If you want to steal a lot of money and get away with it, steal a little […]
Growing fund scandal brings calls for reform
Growing fund scandal brings calls for reform Regulatory overhaul may be most sweeping in industry’s history By LISA SINGHANIA Associated Press Saturday, November 1, 2003 New York — The mutual funds scandal has taken on a new, potentially much more […]
Mutual-Fund Firm Putnam Investments Sued on Allegations of Improper Trading
Oct. 31–Washington and Oregon are considering whether to pull more than $1 billion out of Putnam Investments after the fund manager was sued by regulators this week amid a widening probe of impropertrading within the $7 trillion mutual-fund industry. State […]
Nightly Business Report
xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: October 31, 2003> Time: 18:30:00> Tran: 103100cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Paul Kangas, Susie Gharib> Guest: Derwood Chase> Spec: Business; Economy> Time: 00:00:00> PAUL KANGAS, NIGHTLY BUSINESS REPORT […]
Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Against Strong Funds Family of Funds — SMDCX, SMVAX, SMVBX, SASAX
Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Against Strong Funds Family of Funds — SMDCX, SMVAX, SMVBX, SASAX PHILADELPHIA, Oct. 31, 2003 (PRIMEZONE) — The law firm of Spector, Roseman & Kodroff, P.C. announces that a class action […]
Embattled Chairman of Milwaukee-Based Investment Firm Prepared to Step Down
Oct. 31–Saying he was prepared to step down if necessary as chairman of the Menomonee Falls-based investment firm that bears his name, Richard S. Strong pledged Thursday to reimburse Strong fundsfor any financial losses that occurred as a result of […]
Mutual Funds Scandal Engulfs Top Execs
NEW YORK (AP) – The mutual funds scandal has taken on a new, potentially much more damaging dimension with accusations that fund managers and top executives engaged in their own improper trading atthe expense of other customers. The allegation that […]
Strong ready to step down if ‘necessary’
Strong ready to step down if ‘necessary’ He vows to repay any losses, if trading improper By KATHLEEN GALLAGHER [email protected], Journal Sentinel Friday, October 31, 2003 Saying he was prepared to step down if necessary as chairman of the Menomonee […]