Tuesday, 21 October 2014
Last updated 1 hour ago
Oct 1 2010 | 11:40am ET
A federal bankruptcy judge has approved the sale of Philadelphia’s two daily newspapers to a group of their creditors, led by hedge fund Angelo Gordon & Co.
The new owners of Philadelphia Newspapers, which publishes the Philadelphia Inquirer, Philadelphia Daily News and philly.com Web site, hopes to close the $139 million sale by Oct. 8. Afterwards, the company’s main creditors, including Angelo Gordon and hedge fund Alden Global Capital, will have ownership stakes in the new owner, Philadelphia Media Network.
Also on Thursday, PMN worked out a deal with some of the newspapers’ unionized workers, the mailers. It still must strike a deal with the newspapers’ drivers, who helped scupper an early bankruptcy auction win by the Angelo Gordon-led group.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...