Tuesday, 30 September 2014
Last updated 9 hours ago
Nov 29 2007 | 8:13am ET
Pershing Square Capital Management has boosted its stake in Target Corp., founder William Ackman said yesterday.
The New York-based activist hedge fund owned a 9.6% stake in the retailing giant in July. Ackman, speaking at a New York conference, did not say how much his fund now controls.
The activist did have kind words for his target, saying he has “enormous respect” for the company’s management. Target announced it was considering a sale of its credit card portfolio after Ackman put pressure on the company to improve its stock’s discount.
Last Friday, the activist hedge fund also upped its stake in Borders Group to 17.1% from 11.7%, according to a Securities and Exchange Commission.
Ackman had reportedly been solicited by the board of the bookseller for his views of the firm’s management. In the past, Ackman has discussed the makeup of the board and corporate governance issues in general with Borders. It is not known if his latest interest in the firm is an attempt to agitate for change.
Ackman is well known in both hedge fund circles and the corporate world for shaking up management at companies such as McDonald's Corp. and Wendy's International.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...