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New Harbinger Group CEO Doesn't Want To Hear The Words 'Phil' Or 'Falcone' In His Presence

And apparently the first rule of the new Harbinger Group is that there is no Harbinger group.
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If employees of HRG Group (AKA Harbinger 2.0) want to discuss he who shall not be named, they'd best create some code words now. "Hockey Sticks" might work, as would "Ilphay Alconefay." In related news, apparently the new guy has no respect for the blood, sweat, and tears [redacted] put into this thing. Just because he walked away of his own accord doesn't mean he vacated the premises in his heart. You'll be hearing from his people.

Harbinger Group Inc. said it promoted its president Omar Asali to be chief executive officer and changed its name as the firm distances itself from former chairman Philip Falcone. The new name is HRG Group, the New York-based company said Monday in a statement.

Harbinger Appoints Omar Asali CEO in Post-Falcone Shift [Bloomberg]

Earlier: Christmas Comes Early At Casa De Falcone


Who Wants To Invest In Phil Falcone's New Company?

Harbinger Global Corp is coming to an exchange near you. Phil Falcone, the embattled billionaire hedge fund manager, has put together an unorthodox IPO that will see his hedge fund firm contribute assets valued at $350 million to a blank check company that will trade publicly. In the deal, a special purpose acquisition company that is expected to trade on Nasdaq and be known as Harbinger Global Corp., will acquire a majority interest in an MGM-branded hotel and casino development in Vietnam and a minority interest in an iron ore producer working in Brazil. Funds run by Falcone’s Harbinger Capital Management that are contributing the assets will get an ownership stake that could be as high as 96% in Harbinger Global and Falcone is slated to become executive chairman of the company. Falcone’s move to become closely involved in a publicly-traded company is audacious given that he is currently facing securities fraud charges from the Securities & Exchange Commission. Yeah, well, people also thought it was audacious for him to invite a burlesque dancing pig he barely knew to come and live with him and she turned out to be the best thing that ever happened to him, so.