Wednesday, 1 October 2014
Last updated 59 min ago
Jan 16 2008 | 6:38am ET
New York hedge fund Ramius Capital Group has been stymied in battle for representation on the board of Luby’s Inc.
Preliminary results show that shareholders have reelected four members of the Houston-based cafeteria operator’s board, rejecting a slate of Ramius-nominated candidates. Luby’s said final results won’t be available for a number of days.
The hedge fund had blasted the existing board for an allegedly sweetheart deal for its CEO and chief operating officer, the brothers Christopher and Harris Pappas, arguing a debt-for-stock deal they made was too favorable. Ramius, which owns 7% of Luby’s, also complained that the board and management have not done enough to boost its stock price.
The defeat for Ramius comes in spite of support for several of its candidates from several proxy services. The hedge fund said it may run another slate of board candidates next year.
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...