News

  • 23 Oct 2014 at 5:54 PM

Janus Warns Shareholders On Effects Of Hurricane Bill

bill_gross_mustache3Luring the Triple Crown of Newport Beach to Denver comes at a cost. Read more »

  • 23 Oct 2014 at 4:48 PM

Bill Ackman Is Onto You!

"This guy back stage knows what I'm talking about"The interview began at 2 p.m., and [Jim] Grant went straight after the elephant in the room — the Valeant-Allergan deal. “May I call you Bill, or do you prefer ‘Alpha’?” Grant asked playfully before launching into a series of questions. Before we go any further into this story, you should know that short-seller Jim Chanos, CEO of Kynikos Associates, was sitting in the crowd. Chanos is famously short Valeant. He says it is an accounting rollup that lacks organic growth. Ackman knew Chanos was in the crowd, because during the lunch lecture (about 20 minutes before Ackman’s interview), Chanos asked a question in front of everyone present. Now, back to Ackman’s interview. As Grant asked the same questions about Valeant-Allergan that critics have been asking for months — “Does the company actually make money?” “Does Valeant overpay for its acquisitions?” “Doesn’t it need to spend money on R&D?” — Ackman started to bristle a bit. Suddenly, he turned toward Grant. “Are you short because your daughter is working for Jim Chanos?” he asked pointedly. [BI]

Robert Soros and New Lady FriendMelissa Schiff, wife of George’s oldest son Robert (now involved with a naked canvas artist), is going after more than a dream apartment on East 85th Street. Read more »

UBSSince 2011, UBS has openly discussed/threatened the possibility of moving out of its building Stamford, CT, which houses the world’s largest trading floor, to points unknown in New York City. The thinking behind the relocation was that the bank’s morale and profit issues boiled down to people not wanting to work in Connecticut, and that everything would turn around should they find themselves further south. Recently, though, UBS hasn’t said much at all re: leaving the Nutmeg state, which makes this turn of events slightly awkward: Read more »

Dan LoebDow Chemical’s management team are “going to be great listeners” to ideas from shareholders on improving the company’s performance, its chief executive Andrew Liveris has promised. Speaking as the company reported better than expected earnings for the third quarter, Mr Liveris said on Wednesday that he had been continuing to speak with Dan Loeb of Third Point Capital and other shareholders about how to raise Dow’s share price…Third Point, an activist hedge fund, in January revealed it had taken a stake in Dow and called for the group to be broken up, saying it “woefully underperformed” over the past decade…On Wednesday Mr Liveris denied that he had an “adversarial” relationship with Mr Loeb or other investors, and promised to listen to their analysis, but said he sometimes had to point out to them where they were wrong. [FT]

stevecohensaccapitalThis December will mark five years since Patricia Cohen, Steve’s first wife, came back into his life with the fury of a thousand Preet Bhararas. To celebrate, he’s going to smother her with a pillow. Just kidding, that’s for year six. For five, he’s going with this: Read more »

  • 23 Oct 2014 at 10:00 AM

Ken Griffin Introduces The Concept Of His Divorce Voice

It's The Griffins!As those of you keeping up with the conscious uncoupling of Kenneth Griffin and his soon-to-be ex-wife Anne Dias Griffin know, both the Citadel founder and his bride have been playing the hardest of ball re: marital assets, reputations, etc, since he filed for divorce over the summer, maintaining, through their attorneys, that each other can suck it. For her part, Anne has alleged that Ken:

  • Surprised her divorce papers while she was on vacation with their three children
  • Had a couple’s therapist he was seeing on his own convince her to sign a pre-nup
  • Is an absentee father
  • Changed the locks on their houses
  • “…threatened to demolish part of the family’s primary Chicago residence”

In response, Ken has:

  • Reminded Anne about the time he dressed up “as Spider-Man for a school Halloween party and as a prince for a daughter’s birthday party”
  • Reiterated that if Anne thinks she’s getting a dime more the prenup stipulates, she oughta think again

…and most recently, said in court filings that 1. Use of his private jet is privilege, not a right and 2. What she might have interpreted as terrifying verbal abuse was simply how he talks when he’s divorcing someone and not cause for alarm. Read more »