Steve Cohen Sends Message Of Confidence With Large Order Of New Bowflex Machines

Author:
Publish date:

SAC executives have discussed the possibility that it might make sense to return investors' money if more than half the outside capital was withdrawn, according to people close to the firm. Contingency plans that have been discussed include closing SAC offices outside its Stamford headquarters not deemed crucial to its investment operations, the people say. People close to the firm also say SAC executives estimate they could save millions of dollars a year on compliance and marketing costs if they weren't catering to external clients. Earlier this year, SAC executives discussed putting the brakes on a project to expand the firm's cafeteria and gym at its headquarters in Stamford, according to people familiar with the matter. The facilities had been seen as crowded, the people said. The discussions—which took place after employees were aware of the project—stirred speculation inside SAC that more bad news could be coming, the people said. A person close to the firm said the construction is under way. [WSJ]

Related