Tag Archives: east-coast-routes
EDF close to buying half of Constellation
Reuters – Electricite de France SA is close to an agreement to buy half the nuclear power business of Constellation Energy Group Inc (CEG.N) for $4.5 billion, Bloomberg reported, citing people familiar with the situation. Approval by Constellation‘s board, subject […]
GM, Chrysler considering bankruptcy to get bailout: report
Reuters – General Motors Corp and Chrysler LLC are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multi billion dollar government bailout, Bloomberg reported, citing a person familiar with internal discussions. In response to automakers’ bailout […]
Englander’s Millennium Funds May Lose $1 Billion to Withdrawals
Bloomberg – Millennium Partners LP, the $13.5 billion hedge-fund firm run by Israel Englander, plans to return $1 billion to investors who asked for their cash back by year-end, according to two people familiar with the matter. The redemptions, equal […]
Morgan Stanley’s Mack Says Some Hedge Funds May Fail
Bloomberg – Morgan Stanley Chief Executive Officer John Mack said tumbling markets may drive some hedge funds out of business, prompting his firm to “resize.” “Friends in that community say that by year-end, you’ll see the number of firms in the […]
SEC to Make Hedge Funds Report Short Sales Until 2009
Bloomberg – The U.S. Securities and Exchange Commission extended a rule forcing hedge funds to tell the agency about short-sale positions amid concerns investors bet against companies after spreading false rumors they will fail. Investment managers who oversee more than […]
UPDATE-Airline Files For Chap.11 After Petters Arrest
West Palm Beach (HedgeCo.net) – Holiday airline Sun Country filed for bankruptcy yesterday, just 3 days after the arrest of investor Thomas Petters, founder of Petters Group Worldwide, the firm that owns Sun Country among other investments. Petters was charged […]
Funds Try to Lose Ties to Lehman
New York Times – For some hedge funds, Lehman Brothers has become the Roach Motel of Wall Street: They checked in, but they can’t check out. Two weeks after Lehman spiraled into bankruptcy, hedge funds that did business with the […]
Perella Weinberg Hedge Fund Gains 24% on Distressed Investments
Bloomberg- Perella Weinberg Partners’ Xerion hedge fund rose 24 percent this year, helped by wagers that the value of investment-grade bonds of financial-services firms would fall, according to a letter sent to investors. The $837 million fund, which invests in […]
Hedge Funds in Swaps Face Peril With Rising Junk Bond Defaults
Bloomberg- It’s Friday, March 14, and hedge fund adviser Tim Backshall is trying to stave off panic. Backshall sits in the Walnut Creek, California, office of his firm, Credit Derivatives Research LLC, at a U-shaped desk dominated by five computer […]
Hedge Funds in Swaps Face Peril With Rising Junk Bond Defaults
Bloomberg – It’s Friday, March 14, and hedge fund adviser Tim Backshall is trying to stave off panic. Backshall sits in the Walnut Creek, California, office of his firm, Credit Derivatives Research LLC, at a U-shaped desk dominated by five […]
