Jim Simons Delays Retirement Plans (WSJ)
Talks with officials of the China Investment Corp about a multi-billion dollar stake in Renaissance and plans to retire have been put on hold. Spokesman Jonathan Gasthalter declined discuss what factors may have changed. Also, "two veteran Renaissance insiders, speech-recognition experts Peter Brown and Robert Mercer, are considered likely successors to lead the firm," whenever Simons, who quit his two-pack a day habit this year, decides to start taking it easy. The Journal took about 30 years off his head cut, and made him look like Biff's long lost brother, which is nice.
JPMorgan to Acquire Rest of Highbridge Capital (Dealbook)
Had a majority stake since 2004.
US Pushes A Troubled Citi To Heal Itself (NYT)
"The question now is when, or perhaps even if, Citigroup will be able to free itself from Washington." Shall we take odds?
California nears financial "meltdown" as revenues tumble (Reuters)
California's government risks a financial "meltdown" within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.
Lehman Sued Post Mortem (WSJ)
"Former Lehman clients Western Digital Corp. and Ceradyne Inc. accused the investment bank of fraud by selling them supposedly safe, liquid securities while knowing that the market for the securities was drying up."
Forclosures Not Getting Any Better (Reuters)
"Foreclosure filings dipped 6 percent in the month but increased 18 percent from May 2008, marking the third highest month on record."