Wednesday, 24 September 2014
Last updated 14 hours ago
Mar 22 2013 | 10:57am ET
Hedge fund manager Edward Lampert will remain Sears Holding Corp.'s CEO.
The ESL Investments founder signed a three-year contract with the retailer, effective the beginning of last month. He'll earn only $1 a year in salary, but will get $4.5 million annually in Sears stock and will participate in an incentive program that could get him $2 million per year.
Lampert became CEO in January on the departure of Lou D'Ambrosio. His hedge fund has controlled the company since 2005.
Sears has been struggling with weak sales for almost six years and last month reported a larger-than-expected fourth-quarter loss.
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.