Monthly Archives: June 2007
GM Selling Allison For $5.6 Billion
Reuters- General Motors Corp. said on Thursday it will sell its Allison Transmission unit for $5.6 billion to private equity firms Carlyle Group and Onex Corp., sending the automaker’s shares to their highest level in 2-1/2 years. GM shares rose […]
China’s Economy Expected To Grow 10.8 Percent in 2007: Central Bank
AFP- Growth in China’s economy is expected to expand at a rapid rate in 2007, with inflation ticking higher to 3.2 percent, state media reported Friday, citing the central bank. The nation’s gross domestic product (GDP) should expand 10.8 percent […]
Don’t Single Out Hedge Funds- Paulson
Business Report- Raising taxes on hedge funds and buyout firms might have “unintended consequences”, warned US treasury secretary Henry Paulson, who said congress should not “single out” firms thatgo public, such as Blackstone Group. Senate legislation would force Blackstone to […]
The Green In Hedge Funds Isn’t All About Money
MarketWatch- The popularity of the environment and all things “green” has not escaped hedge funds: At least three dozen hedge funds are already applying environmental and social screens to the investment process, with more on the way according to industry […]
Bear Stearns Likely To Face Hedge Fund Lawsuits
Reuters- Investors in two struggling Bear Stearns Cos. hedge funds that made bad bets on risky mortgages will almost surely file lawsuits in hopes of recouping losses, but legal experts say theycould have a tough time proving their case. Already, […]
Arab Chamber of Commerce Hires Hedge Fund Guru As Vice President
West Palm Beach (HedgeCo.Net)- In order to increase the economic cooperation between Arab Nations and Greater China, the Arab Chamber of Commerce & Industry (ARABCHAM) has appointed hedge fund Guru Dr A S Johan as its Vice President. Dr. A […]
Bear Stearns Funds Under Probe by SEC
Washington Post- The Securities and Exchange Commission is examining thenear-collapse of two Bear Stearns hedge funds that made bad bets on the mortgage market. The SEC inquiry is informal and has not resulted in any subpoenas or formal document requests, […]
New York Hedge Fund Sued
MSN MoneyCentral- The US Securities and Exchange Commission sued New York hedge fund Simpson Capital Management, its owner and its head trader on Wednesday, seeking $57m (£29m) in what regulators sayare ill-gotten gains from improper after-hours trading in mutual funds. […]
Cash in Hand, Hedge Funds Bail on Big Lots
New York Times- Big Lots, the nation’s largest seller of overstocked and discontinued items and whose fare includes organic plant food made from chicken droppings, is losing its novelty for its hedge fund investors, Bloomberg News reported. New management and […]
Yorkville Advisors Opens Israel Office
HedgeCo.net – June 27, 2007 – Yorkville Advisors LLC, the investment manager to Cornell Capital Partners — a private investment firm that specializes in structured finance and direct investments –today announced the launch of an Israeli operation as part of […]
Hedge Fund Combines With Freedom In $3.4 Billion Dollar Deal
West Palm Beach (HedgeCo.Net)- Hedge fund manager GLG Partners announced that it plans to access the public markets through a reverse acquisition transaction with Freedom Acquisition Holdings, Inc. This transaction values GLG at approximately $3.4 billion, in order to finance […]
Hedge Funds Cashing Out of Big Lots Shares After Price Doubles
Bloomberg- Big Lots Inc., the largest U.S. seller of overstocked and discontinued items, has an online Wild and Wacky Find museum where customers can submit items they stumble upon while shopping at the company’s stores. There’s Chick A Poo Organic […]