Wednesday, 1 October 2014
Last updated 13 hours ago
Jan 4 2007 | 10:36am ET
Third Point’s Daniel Loeb may be looking for a few more board seats after the directors of Massey Energy approved a new one-year employment agreement for Chairman and CEO Don Blankenship, Loeb’s bete noir. The terms are the same as last year: $1 million in salary with up to $900,000 in bonuses, use of the company plane and other perks.
The new deal is unlikely to make the company’s newest director happy. In his victorious proxy battle for a pair of board seats, Loeb railed about Blankenship’s $33.7 million compensation package in 2005 and his access to a company plane. And Massey has had a rough year, facing labor shortages, a fire that closed a West Virginia mine for half of the year and a steadily declining stock price.
In October, the company engaged Goldman Sachs to find a solution to its share price woes, and in November, Blankenship said Richmond, Va.-based Massey was considering a merger or acquisitions to increase shareholder value.
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...