Tuesday, 23 September 2014
Last updated 2 hours ago
Mar 26 2012 | 2:05pm ET
As college basketball winnowed its championship hopefuls to four this weekend, the Los Angeles Dodgers went one better, cutting its list of prospective new owners to just three—including SAC Capital Advisors' Steven Cohen.
Cohen's group, which includes both Los Angeles' richest man and sports agent Arn Tellem, made the latest cut with what is believed to be the cash-heaviest offer for the team. Most of that money would come from Cohen, who, according to his latest plan, would spend almost $2 billion to buy the Dodgers and renovate their landmark stadium.
But before he can do that, he'll have to beat out the other remaining groups: one led by Los Angeles Lakers legend Magic Johnson and the other by former baseball executive Stan Kasten and Stan Kroenke, the owner of football's St. Louis Rams.
And before he can do that, he'll have to be approved by Major League Baseball's current owners, expected to be a formality for Cohen, given his approval to purchase a stake in the New York Mets earlier this year.
The owners are to vote this week. Then, outgoing Dodgers owner Frank McCourt will engage in final negotiations with the approved bidders. He's to name his successor by April 1.
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 McKitich, CIO of Petty 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…
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.