Wednesday, 1 October 2014
Last updated 50 sec ago
Dec 13 2006 | 2:30pm ET
On December 11 activist hedge fund Breeden Capital Management announced its intention to nominate founder Richard Breeden, Laurence Harris, Steven Quamme and Raymond Seitz to the board of directors of Applebee’s International at that company’s 2007 annual shareholder meeting. Applebee’s’ current 12-member board will elect only four in 2007 due to staggered terms. [Read the full letter]
The former Securities and Exchange Commission chairman and is currently on the board of Banco Bilbao Vizcaya Argentaria, S.A., of Spain. Quamme is a co-founding partner of Breeden and is also the former co-CEO of Milestone Merchant Partners, a merchant bank. Seitz is a former vice chairman of Lehman Brothers and is a former U.S. Ambassador to the U.K. Harris is of counsel to the Washington law firm Patton Boggs and was a director of MCI, following its emergence from bankruptcy in 2004 until its merger with Verizon Communications.
The Breeden firm currently owns an estimated 5.25% of Applebee’s’ outstanding shares.
In a letter to Applebee’s directors, Breeden cited poor annual total returns to shareholders, a lack of “disciplined financial policies” as it relates to capital expenditures and a variety of poor governance practices as reasons to give the board a facelift.
Breeden is based in Greenwich and manages more than $1 billion in assets.
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...