Footage of Mitt Romney’s remarks about the 47 percent voters who don’t pay taxes or depend on government assistance—”I’ll never convince them they should take personal responsibility and care for their lives”—was taken in the Florida home of Marc Leder, co-CEO of private equity firm Sun Capital Partners, said David Corn, the reporter who published video clips at Mother Jones. Mr. Leder, a part-owner in the Philadelphia 76ers, is as TPM points out, also known for his bacchanals: “At the Bridgehampton home that Leder rented for a whopping $500,000 a month, guests cavorted nude in a pool and performed sex acts, while scantily clad Russian women danced on platforms,” The New York Post reported last year.
European Central Bank President Mario Draghi won wide support from his board for a plan to buy the sovereign debt of euro zone countries. Rates on Spanish 10-year bonds promptly fell to levels last seen in May, and the corresponding Italian bond fell to its lowest since April.
LightSquared, the wireless broadband company backed by Harbinger Capital founder Phil Falcone, is battling with creditors over control of the firm’s bankruptcy, according to Bloomberg. LightSquared has asked a judge to extend a deadline to file a Chapter 11 plan; the creditors say, “Having nothing to lose, Mr. Falcone wants to pursue a high-risk, high-return strategy.”
Lisa Marie Falcone, Harlem native, fashion plate, wife of hedge fund manager Phil Falcone, and proud owner of a pet pig named Wilbur, was arrested on Saturday afternoon after crashing her Mercedes-Benz in Bridgehampton, according to reports.
Three JPMorgan executives tied to the massive trading losses announced last week are expected to resign, Yahoo CEO Scott Thompson stands aside and a hedge fund calls for Aubrey McClendon’s head. Here’s the morning Wall Street roundup:
Hedge fund manager and creative fundraiser Phil Falcone now faces a lawsuit that alleges impropriety in a stock swap between his Harbinger Capital Group (HGI) and Spectrum Brands, another company Mr. Falcone controls (and which makes George Foreman Grills, among other things).
“HGI is vastly overpaying for the acquisition of assets Read More
Hedge-fund titan Phil Falcone has not run out of clever moves. The authorities found Mr. Falcone’s trick of borrowing money from the hedge fund he founded so creative, they just had to investigate to learn more. Then, the money manager found an extra-creative way for his fund to raise money. And the borrowing Read More
When the hedge fund giant Phil Falcone got some bad news last week about losing a good bit of business from Goldman Sachs, he came up with a theory that explained it away.
But Reuters is reporting that he may have a more cumbersome problem.
According to its item, a regulatory filing for Read More
Phil Falcone has a theory about Goldman Sachs.
There was a striking Bloomberg item by Katherine Burton today about the billionaire hedge fund manager, who calls the former Guccione Mansion home and has the most splendiferous wife in the business. She reported that Goldman is pulling its entire $120 million from Read More
New York hedge fund manager Phil Falcone wants to build the next internet superhighway. He is snapping up broadband spectrum which he plans to deploy for the next generation of mobile devices, a 4G network that will power super speed smartphones.
But critics say Falcone doesn’t have the funds for such an ambitious Read More
Billionaire Harbinger Capital manager Phil Falcone has a bone to pick with the news media, and would prefer that his investors not discuss his hedge fund with reporters, according to Reuters.
On a conference call with investors, Falcone expressed disapproval over media coverage of his $3 billion investment in LightSquared, a company that aims Read More