Wall Street Veterans Braunstein, Woolery Turn Activist Investors
Douglas L. Braunstein and James C. Woolery, who, as Wall Street deal makers, spent years working with corporations to head off the demands of activist shareholders, announced Monday they had bought shares in six companies with an eye to producing “constructive engagement.” In the sights of their investment fund, Hudson Executive Capital LP, are a dairy-foods supplier, two banks, a medical-device company, and a supplier of cleaning fluids for microchips, according to a filing.
Crisis-Era Mortgage Attempts a Comeback (WSJ)
...big money managers including Neuberger Berman, Pacific Investment Management Co. and an affiliate of Blackstone Group LP are lobbying lenders to make more of these “Alt-A” loans—or even buying loan-origination companies to control more of the supply themselves—according to people familiar with the matter.
Citigroup Cautions Investors Against Dumping Stocks Over China (Bloomberg)
“We do not think that the data in China has materially worsened of late,” Schofield wrote. “What is really unsettling markets is uncertainty over the policy response,” specifically over its currency, “but how much of this is now priced into markets is unclear.”
Regulators Aren’t Done With ‘Dark Pool’ Investigations (Dealbook)
At a news conference on Monday, both Andrew J. Ceresney, the S.E.C’s director of enforcement, and Eric T. Schneiderman, New York’s attorney general, said other investigations were continuing. The two jointly announced the Barclays and Credit Suisse settlements. New York first sued Barclays over issues regarding its dark pool in 2014.
Not even a Powerball winner could buy all of America’s Super Bowl chicken (MarketWatch)
Americans will spend a record $15.5 billion on items related to this year’s game, with the average consumer spending $82.19, according to a 2016 survey of more than 7,000 consumers by the National Retail Federation. And the Super Bowl is the second-largest eating day of the year in the US, after Thanksgiving, according to the National Chicken Council...About 1.3 billion chicken wings are expected to be consumed during Super Bowl 50 — an amount so large that one of the three winners of the latest $1.6 billion Powerball jackpot’s lump sums would only pay for 76 percent, or 123 million pounds, of it, according to the National Chicken Council.
Domino's Pizza Delivery Man in Covina, California, Stabs Customer: Cops (NBC)
A Domino's Pizza delivery man stabbed a customer after arguing over a late order, according to police. Michael Charles Parker, 31, of Glendora, California, was arrested for allegedly stabbing the 20-year-old victim after what police described as "an altercation … over the extended delay of a pizza delivery." Tim McIntyre, vice president of communication and public relations at Domino's, said in an email to NBC News that Parker was an employee of an independent franchise owner.
Alphabet Reports Rising Profits at Core Google Businesses (WSJ)
Alphabet, after a corporate reorganization late last year, disclosed that revenue at Google’s core Internet businesses, including search, YouTube and Android, rose 14% last year, to $74.54 billion, from $65.67 billion in 2014. Yearly operating income for these businesses totaled $28 billion, excluding stock-based compensation, up 23% from $22.69 billion a year earlier.
U.S. vulnerable to global slowdown, volatility: Fed's Fischer (Reuters)
The U.S. economy could suffer, with inflation remaining too low, if recent volatility in financial markets persists and signals a slowdown in the global economy, the Federal Reserve's second-in-command said on Monday. Fed Vice Chairman Stanley Fischer, however, warned about jumping to conclusions given that some past bouts of financial market turbulence have not harmed the world's largest economy.
Uniformed Officer Mistaken For Stripper While Checking On 50th Birthday Party (HP)
A uniformed officer fled after being mistaken for a male stripper at a 50th birthday party in England on Saturday night. Mike Ober said he was forced to "beat a hasty retreat" after female guests at a social club in Bradford-on-Avon "went wild with excitement," BBC News reported. Ober spotted a door propped open and decided to investigate. But once inside, he was greeted with wild cheers by the mainly female guests. "The party was about to get started and they thought I was early," said the engaged police community support officer (PCSO), who is in his 20s. He quickly left the venue, and saw the actual stripper walking in. It's not known whether the exotic dancer was also dressed as a cop.