Monday, 30 March 2015
Last updated 10 hours ago
Jun 27 2012 | 11:05am ET
If Tudor Investment Corp.'s Paul Tudor Jones had a hand in the firing of University of Virginia President Teresa Sullivan two weeks ago, it was a short-lived victory.
The school's Board of Visitors yesterday unanimously voted to reinstate Sullivan, 16 days after forcing her resignation less than two years into her five-year term. That move led to widespread protests on campus, including a faculty vote of no confidence in the Board of Visitors, although not from Jones, who wrote a guest column in the Charlottesville campus' student newspaper calling Sullivan's exit "a clarion call from the Board of Visitors that business as usual is not acceptable anymore."
Jones reportedly had a hand in the "project" to remove Sullivan. The hedge fund honcho and 1976 Virginia alumnus reportedly lacks faith that Sullivan has the ability to raise enough money to allow U. Va. to compete with better-funded private universities; it is unclear whether Sullivan's reinstatement will affect his plans to make a large donation, possibly in the nine figures, to the school.
"I pledge to set aside any differences we might have and to work hand-in-hand with Rector [Helen] Dragas and all the members of the Board of Visitors as we face the challenges that have been articulated—and find solutions that will further distinguish the university," Sullivan said after the 20-minute meeting.
Dragas, who had pushed for Sullivan's exit and asked for her resignation, also received a vote of confidence from the Board of Visitors. She has faced calls to resign herself, as has the board, en masse.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…