Thursday, 7 May 2015
Last updated 14 hours ago
Nov 15 2011 | 10:50am ET
Appaloosa Management clearly doesn't think that MF Global Holdings' shareholders will be wiped out by the futures brokerage's bankruptcy.
The hedge fund took a huge stake in the firm two days after it filed for bankruptcy, a regulatory filing shows. Appaloosa raised its stake in MF Global to 8.64% on Nov. 2; MF Global filed for bankruptcy on Oct. 31, leading to a halt in trading of its shares.
MF Global had been led by former Goldman Sachs CEO Jon Corzine, with whom Appaloosa chief David Tepper has had a difficult relationship. Corzine, who would go on to become a U.S. senator and governor of New Jersey, passed Tepper over for a partnership at Goldman; Tepper later bought Corzine's former home in the Hamptons and demolished it, commenting that there was "a little justice in the world."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…