The consultant at the center of the FBI's insider trading probe has grabbed the microphone and won't let go. Is it an amateur move? Or a brilliant one?
Sometimes, it's difficult to figure out the motive behind people's actions. Take Julian Assange, for example. Is he actually an anarchist? Or just a wannabe playboy? It's hard to say. Maybe he's both.
Then there's John Kinnucan, heretofore-unknown technology researcher and current toast of the financial airwaves. Kinnucan, you may recall, runs a research firm called Broadband Research that connects investors with industry participants for a fee. He was contacted by the FBI at the end of October and asked to wear a wire in an insider-trading investigation targeting certain hedge funds, including the Big Kahuna, Steve Cohen's SAC Capital. More
Quadrangle Group, the New York-based private equity firm tainted by the alleged actions of former partner Steven Rattner, today informed investors of several upcoming management changes. This includes firm co-president Josh Steiner transitioning into a senior advisor role, with fellow co-president Michael Huber and Peter Ezersky taking over the reigns.
There had been speculation that Quadrangle also would announce a new name or minority owner, but neither is included in today's investor MOREDan Primack - Dec 6, 2010 1:00 PM ET
That's the headline in this morning's NY Post, although the story isn't nearly so dire.
As the paper reports, private equity firm Quadrangle Group has indefinitely postponed any new fundraising (it's long been out of dry powder for new investments), and any future fund is unlikely to follow past structures (perhaps an evergreen effort?). It also is planning to hire some new folks, with certain existing staffers choosing to move MOREDan Primack - Nov 22, 2010 10:47 AM ET
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