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“#‘Meme’ mob behind Gamestop frenzy may imperil soaring AMC” Adam Aron says he wants to increase his Twitter following to include about 1,000 more professed small-investor shareholders of the company he runs, AMC Entertainment. His goal is to better “understand this phenomenon that has changed who owns AMC.” But based on the type of AMC…
“#Daily News spinoff stirs anxiety post Alden takeover” Rapid-fire changes underway at newspapers sold to cost-slashing hedge fund Alden Global Capital have led to a profound case of the jitters at newsrooms like the New York Daily News. On Monday, Daily News staffers were hit with the first bout of potentially bad news when they…
“#Ex-TCW manager and NYC mayoral hopeful sees her sex harass case revived” A New York state appeals court on Thursday restored most of a sexual harassment lawsuit brought by Sara Tirschwell — a former TCW Group fund manager and NYC mayoral candidate — against her former employer, considered Wall Street’s first major case of the #MeToo era….
“#Billionaire investor Ray Dalio reveals he owns crypto” Billionaire investor Ray Dalio revealed Monday that he has some skin in the game on bitcoin — and said he’d rather invest in cryptocurrencies than buy bonds. “I have some bitcoin,” said the founder of Bridgewater Associates, the largest hedge fund in the world. He did not…
“#NY Daily News parent Tribune approves Alden Global takeover” Shareholders of Tribune Publishing, parent company of the New York Daily News and one of the country’s largest newspaper chains, on Friday approved a takeover by hedge fund Alden Global Capital. Alden, which already owned one-third of Tribune, now takes full control of the New York…
“#Opposition to Alden takeover of Tribune heats up ahead of vote” Opposition to hedge fund takeover of Tribune Publishing is bubbling up ahead of next week’s deal vote, including three legal fights, plans for multi-city rallies and written pleas for new buyers. “Please buy this newspaper,” ran a May 5 headline in the New York…
“#Hedge funder Daniel Kamensky sentenced to prison in Neiman Marcus fraud” The New York hedge fund founder who predicted he might “go to jail” for corrupting the sale of some assets during the bankruptcy of Neiman Marcus was sentenced on Friday to six months in prison. Daniel Kamensky, 48, of Roslyn, New York, had pleaded…
“#Archegos reportedly eyeing insolvency as banks seek to recoup losses” Archegos Capital Management, the family office run by former Tiger Asia manager Bill Hwang, is preparing for insolvency as banks involved in financing its trades seek to recoup some of their losses, the Financial Times reported Wednesday. Archegos has hired restructuring advisers to assess the…
“#New York Daily News unionizes ahead of Alden takeover vote” Workers at the New York Daily News voted 55-3 to be represented by the NewsGuild of New York ahead of a harrowing May 21 shareholder vote to sell parent company Tribune Publishing to cost-slashing hedge fund Alden Global Capital. Last week’s union vote makes the…
“#GameStop CEO George Sherman to step down, lifting the retailer’s stock” GameStop shares shot up on Monday after the company announced plans to search for a new chief executive officer to help accelerate the company’s transformation into a digital retailer. GameStop CEO George Sherman will step down on July 31 or sooner depending on the…