• News

    Four Years After Shuttering Fund, Long Island Asset Manager/Hooters Franchise Owner/Frederick’s Of Hollywood Devotee Not Ready To Part With Investor Money Just Yet

    In 2008, Fursa Strategic Alternatives, an asset management firm run by Massapequa resident William F. Harley III, informed investors that it would be closing its doors and returning everyone’s money. As some money managers can likely attest though, making the decision to close up shop (and writing people to say as much), doesn’t mean you’re emotionally ready to do so. Harley, for example, couldn’t shake the feeling that he was put on this earth to be an investor and, god damn it, he was going to invest until the day he died. So he did what any rational human being in his position would, and decided to just, you know, hang on to his clients’ money for a while. Of course, the pesky little varmints kept calling, so he had to disconnect the phones and to avoid an awkward confrontation wherein they appeared at the firm’s building demanding their cash in person, he moved HQ into the basement of one of his other businesses, a Hooters restaurant. That got people off his tail for a while but, unfortunately, they popped up again and this time are taking legal action.

    The Claude Worthington Benedum Foundation filed the lawsuit last month in the Court of Common Pleas in Allegheny County, Pa. It has since been moved to federal court in the western district of Pennsylvania. The charity said in its lawsuit that William F. Harley III continued operating Fursa Strategic Alternatives from the basement of a Hooters restaurant on Long Island after saying in 2008 the fund would close and the charity’s money would be returned. Federal filings show Fursa in January was the largest investor in lingerie company Frederick’s of Hollywood Group. A spokesman for Harley said lawyers for the fund sought unsuccessfully to contact the charity last year. Harley could not be reached for comment at his home Wednesday…The lawsuit points to Fursa’s investment in Frederick’s of Hollywood as evidence the company continued operating instead of returning its money. Fursa Alternative Strategies owns 46 percent of Frederick’s, according to the company’s proxy statement.

    While a spokesman for Harley has not denied most of the allegations, he does take issue with claim that Fursa has any sort of legitimate set-up at any of his four Hooters, telling Newsday that he “occasionally has business meetings at them, but doesn’t run an office there.”

    Charity lawsuit accuses Massapequa man of mishandling $2M investment [Newsday]

    / Sep 27, 2012 at 2:18 PM
  • The Hooters Stigma

    Hooters CEO Thinks Dark Wood Paneling Is The Reason You Don’t Bring Your Wife, Female Colleagues, HR Around

    Walk into almost any Hooters and it’s easy to see why some women might be creeped out. Wall-to-wall dark wood. Posters of bikinied Hooters girls. Titillated guys downing pitchers of beer and making cracks like: “They have great wings.” When Chief Executive Officer Terry Marks was hired last year to make over the chain, he […]

    / Sep 10, 2012 at 12:46 PM
  • News

    Hooters Calendar Girls’ Channel Checks Indicate No Recession Imminent

    They’re cautiously optimistic.

    / Oct 11, 2011 at 10:22 AM
  • News

    If You Want To Be Successul In Business, You’d Best Slap On A Pair Of Orange Shorts And A White Tank Top Now

    An oft asked but never conclusively answered question is, “What is the secret to a successful business career?” Is it hard work? Is it perseverance? Is it in-depth research and a top-notch ability to get information first? Is it ass-kissing? Is it wearing a dress and growing breasts? Is it a matter of simply being […]

    / Feb 9, 2011 at 2:53 PM
  • News

    Phil Falcone Faced With Serious Dilemma: Hockey Or Hooters?

    Gang, something serious happened. One of our favorite hedge fund managers is in trouble and needs help. Phil Falcone has been put in a horrible position, that I hope no one else ever finds him/herself. It’s a pretty well-known fact that the Harbinger founder is a huge hockey fan. The Minnesotan grew up skating, played […]

    / Sep 13, 2010 at 3:19 PM
  • News

    Hooters For Sale, Those Morally Opposed To Food Eating Contests Need Not Apply

    Great news for those of you who love delicious wings served in tank-tops: Hooters is on the block. The restaurant needs cash, ASAP, and analysts are guesstimating it could probably be yours for about $250 million. There may be a few issues for you to deal with upon acquiring the place, namely getting rid of […]

    / Feb 10, 2010 at 11:37 AM

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