Thursday, 28 August 2014
Last updated 7 hours ago
Sep 6 2011 | 3:55am ET
Moore Capital Management founder Louis Bacon is taking his fight to keep a 140-mile power line off of his massive Colorado ranch to the courts.
Bacon plans to sue the Colorado Public Utilities Commission, which approved the line two years ago and which has upheld it in two internal appeals processes. The hedge fund billionaire, who bought the 250-square-mile Trinchera Ranch for $175 million three years ago, said he'll file his suit after the PUC issues its written decision. The agency rejected most of Bacon's appeal on Friday, and both sides agreed that the two minor issues he won on were not enough to end the proposed line.
The proposed power line will run through undeveloped mountains and valleys in the ranch, Bacon says, and will cost more than is needed. Xcel Energy and the Tri-State Generation and Transmission Association say that the new line is vital to improve system reliability.
"Fortunately, this decision is not the final hurdle for the utilities," Bacon spokesman Cody Wertz said. "They still need to justify this project to the public in a federal environmental impact statement assessment process. They then need approval from the county commissioners of each of the four counties through which the line would slash."
And, of course, they'll have to beat back Bacon's lawsuit.
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 ...