Sunday, 29 March 2015
Last updated 1 day 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.
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…