Thursday, 18 September 2014
Last updated 19 min ago
Oct 3 2012 | 12:59pm ET
Pershing Square Capital Management's William Ackman is trying to tighten the screws on Procter & Gamble.
At Monday's Value Investing Congress in New York, Ackman blamed CEO Robert McDonald for P&G's problems. And while he told CNBC that the company was likely to give him "a little bit more time," that time was running out.
"The are keeping the CEO on a tight leash," Ackman said of P&G. And he offered a least a glimmer of hope.
"The CEO wants to keep his job, so he'll be very, very motivated to deliver," Ackman told the VIC. "Either the current CEO fixed the business or the next CEO will fix the business." And that next CEO could come from outside the company, which would break with recent P&G practice.
Pershing Square in July bought a 1% stake in P&G, its largest-ever initial investment in a company.
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.