Thursday, 28 August 2014
Last updated 7 hours ago
Apr 1 2010 | 9:11am ET
Bookseller Borders Group has repaid a two-year-old loan from its largest shareholder, hedge fund Pershing Square Capital Management, amidst a rare spate of good news for the troubled retailer.
Ann Arbor, Mich.-based Borders paid off the $42.5 million it owed the New York-based hedge fund after securing nearly $800 million in new credit lines. Pershing Square extended the loan in March 2008 to keep Borders afloat.
“We are pleased to have the continued support of our lending group and term loan investors,” Borders CFO Mark Bierley said. “With the completion of these transactions, the company can turn its focus to driving sales growth and improving profitability.”
Borders also reported that its fourth-quarter earnings from continuing operations more than doubled, even though sales continued to decline.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...