James Dondero is the founder and CEO of Highland Capital Management, a Dallas-based hedge fund. In addition to his duties at the firm, a portion of Dondero’s time is currently being spent on two legal matters. One is his divorce from Becky Dondero, who he’s been battling in court for over two years. The second is his lawsuit against former Highland PM Patrick Daugherty, who the firm described as a “megalomaniacal” manager known for engaging in “abusive tirades” that “dehumanized employees.” Perhaps coincidentally, the suit against Daugherty was filed two weeks after he testified on behalf of Becky Dondero, claiming that over drinks, James told him of a plan to “get his net worth down and pay [Becky] as little as possible.” Daughtery also alleged that Dondero asked him to lie on the stand, and to try remember a time when Daughtery regarded Becky as “a whore.”
Anyway, it wouldn’t be too crazy to think that all of this might be slightly distracting to Dondero and occupy at least a small portion of the attention he might otherwise devote to his day job at Highland. Even Jimmy recognizes that it’s a reasonable assumption to make. But, he assures you, it is an incorrect one. Rather, Dondero can expend unlimited energy on both making investors top dollar AND making sure his estranged spouse gets nada while at the same time making his sworn enemy look ridiculous. The reason we know this is that Highland has released a nearly 1,000-word press release saying as much. Read more »
Andrew Kearns: I was fired on the false claim I have a problem with alcohol. Glencore: We can’t risk having an employee who might come back to the office 10-sheets to the wind, face-plant into his keyboard, and accidentally buy 700.1333333333 million barrels of crude oil. Read more »
Next time you think about pitying yourself for having to pull an all-nighter finishing yet another pitchbook or complaining to your friends that you’ve worked your fingers to the bone all week picking up the slack for your MD or worrying that you might go blind if you stare at the computer screen for one second longer, consider first walking a mile in this woman’s shoes: Read more »
Those of you who’ve kept a detailed spreadsheet of Things That Are Pains In Steve Cohen’s Ass know that a particularly hide-chapping outstanding item is that of his ex-wife, Patricia. Her existence in general, sure, but specifically the lawsuit she filed against him nearly four years ago. Over the years, the case has been dismissed and the case has been reinstated; Patty has replaced one lawyer, and another, and settled on a third; and the former Mrs. Cohen has gone from asking for $300 million to half of SAC to a measly $8.25 million. The one thing that hasn’t changed? Her desire to nail her ex-husband to the wall. And while she seems to have vowed to never, ever give up in her quest to do so, one member of the bench has decreed she’s got one final shot at settling this the legal way and then must resign herself to getting back at her ex by sticking pins in her Stevie doll. Read more »
Lawyers for Mr. Corzine filed a motion late Tuesday to dismiss a civil case against him brought by the Commodity Futures Trading Commission, the federal agency that regulated MF Global until its demise in 2011. The 30-page motion, filed in Federal District Court in Manhattan, outlined Mr. Corzine’s defense and leveled a sharp critique of the commission, depicting the agency’s lawsuit as poorly drafted and error prone. “There is no evidence demonstrating that Mr. Corzine knowingly directed unlawful conduct or acted without good faith,” wrote the lawyers from Dechert, Andrew J. Levander and Benjamin E. Rosenberg. “Rather than acknowledge that reality and move on, the C.F.T.C. has clung to its baseless presumptions and manufactured charges of wrongdoing that are supposedly connected to Mr. Corzine.” [Dealbook]
Were they baited with promises of meeting the Donald in the flesh, only to be offered an opportunity to stand in line for a photo-op with a poster bearing his face? Maybe. Did thousands of Trump College alums nevertheless give the school an A+, tuition well spent? Supposedly, yes. Read more »
It’s not just doctors and scientists that need STEM education. America’s shifting economy is demanding more trained workers in many different sectors. See how Travis Brooks got the hands-on education he needed to become a technician at the Chevron Pascagoula Refinery. Visit The Atlantic to learn more.