Tags: Argentina, great ideas, Hedge Funds, Paul Singer, plenty of time
Argentina is lacking in many things: Sufficient reserves to pay its bills, for one. International goodwill, for another. The patience of a certain very important federal judge. Goals in the World Cup.
But Argentina is also a very rich country: Rich in beef, in the fruit of the vine, in natural resources, and, perhaps above all, in unique recalcitrance vis-à-vis hedge funds it owes money. Well, in a last-ditch and almost certainly too-late bid to avert a default that it says is not a default, Argentina has parted with some of that precious recalcitrance, at last deigning to have its people chat with Paul Singer’s people about getting out of this mess with other peoples’ money and rights. Read more »
Tags: Elliott Management, EMC Corp., happier to meet with some shareholders than other, Paul Singer
If Argentina doesn’t want to sit down with the Elliott Management founder and vulture-investor-in-chief, that’s OK. EMC Corp. can’t wait to hear from him about how its “federation strategy” is a total disaster than that it should sell its most successful business. Read more »
Tags: 13 years and three days really, Argentina, Axel Kicillof, but..., good-ish faith, ISDA, Paul Singer
The uniquely recalcitrant debtor is happy—eager, even—to chat with Paul Singer and friends about resolving their little situation, Economy Minister Axel Kicillof says. Not eager enough for Kicillof to stick around for a couple of days to chat, but all the same.
Oh yea, and one more thing: Ignore all of the above if a judge won’t give Argentina the stay it needs to pay some of its bills and not default on Monday. Read more »
Tags: Argentina, Ben the... something, brilliance, open books, Paul Singer
Surprise! It’s a bitter and angry missive filled with recriminations against those who have wronged Singer and right-thinking men like him. But don’t think that all of this misfortune (Elliott up a paltry 2.5% in the first quarter) prevents this billionaire from a little levity, albeit bitter, angry and recriminatory levity. Read more »
Tags: Elliott Management, Hess, master class in negotiation, Paul Singer
A promise to seat two of its board candidates after Elliott Management voted for its own five was insulting. A promise to seat three under the same circumstances? That’s a compromise Paul Singer can embrace. Read more »