Tom Hudson May Be Forced To Make Own Trips To PetSmart

Posted by Bess Levin, Sep 07, 2007, 11:27am

Pirate.jpgOur resident Pirate mole informs us that Tom Hudson has suspended redemptions following a 4% decline in August, and let two of his last remaining employees go (apparently “his best analyst” and “his”—apparently only—“trader”). This probably has little to do with the current state of the market, and is more so symptomatic of what happens when your hedge fund is run by a guy who spends his days printing up free t-shirts (in place of persuasive arguments) to give out during proxy battles, and dispatches interns to a PetSmart to buy minnows for bigger fish to devour in front of a staff busy not executing trades. On the bright side, Michael Bolton’s progeny is still with the firm.

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Posted in: Pirate Capital

Comments

Posted by cant think of a funny name, Sep 07, 2007 12:58PM

Suspend liquidations? Does Pirate still actually have 'real' investors, or is the remaining $ made up of bonus dollars locked into the fund from his departed employees?

Posted by Captain Stabbin, Sep 07, 2007 1:17PM

Can this damn fund just go under already so I can sieze the name and get down to business pillaging and pirating the seven sleaze

Posted by chris, Sep 07, 2007 1:31PM

I never got my freaking t-shirt. I'm getting on the unsecured creditor committee and kicking a little booty!!!!!!!!

Posted by MSM Hack, Sep 07, 2007 3:43PM

Send me my fucking shirt or I'm shipping out with Chris.

Posted by MG, Sep 07, 2007 4:35PM

I'd hate to see Tim walk the gangplank before National Talk Like a Pirate Day on September 19. Aahhrr!

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