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Nov 14, 2012

Hedge funds shower love on Green Mountain, Yahoo in third quarter

NEW YORK (Reuters) – Patrick McCormack, the manager of hedge fund Tiger Consumer Management, decided to bet against rival David Einhorn in the third quarter.

McCormack’s $2 billion fund jumped into two stocks that Einhorn, founder of $8 billion Greenlight Capital Management and one of a handful of savvy traders who can move markets with his “short” calls, has said publicly he is shorting, or betting against.

Nov 14, 2012

Some hedge funds shower love on Green Mountain, Yahoo in 3rd qtr

NEW YORK, Nov 14 (Reuters) – Patrick McCormack, the manager
of hedge fund Tiger Consumer Management, decided to bet against
rival David Einhorn in the third quarter.

McCormack’s $2 billion fund jumped into two stocks that
Einhorn, founder of $8 billion Greenlight Capital Management and
one of a handful of savvy traders who can move markets with his
“short” calls, has said publicly he is shorting, or betting
against.

Nov 3, 2012

Sandy washed away contingency plans across New York region

By Aaron Pressman and Joseph Menn

(Reuters) – As Sandy hammered the northeast United States this week killing more than 100 people, contingency plans were washed away and businesses had to improvise as the storm knocked out power to millions and stranded entire communities.

Internet sites were kept online only because an impromptu bucket brigade ferried 5-gallon jugs of diesel fuel up 17 stories to a rooftop generator. Billions of dollars of stock trades were frozen and sidelined. Even the United Nations closed its complex when flood waters knocked out power.

Oct 28, 2012

Massachusetts closes third pharmacy since meningitis outbreak

BOSTON (Reuters) – Massachusetts regulators shut down a pharmacy on Sunday after a surprise inspection raised concerns about the sterility of its drugs, in the third such closure since a deadly meningitis outbreak caused by contaminated drugs from another pharmacy in the state.

The latest pharmacy to be closed, Infusion Resource, is not affiliated with New England Compounding Center, the company linked to the outbreak, officials said.

Oct 13, 2012

Meningitis-linked firm sold drugs without prescriptions -emails

BOSTON, Oct 13 (Reuters) – The drug-mixing company at the
heart of a deadly U.S. meningitis outbreak solicited bulk orders
from physicians and failed to require proof of individual
patient prescriptions as required under state regulations,
emails to a customer show.

Reuters reviewed more than a dozen emails that show the New
England Compounding Center, contrary to state rules, sold drugs
without requiring physicians to supply individual patient
prescriptions.

Oct 13, 2012

Meningitis-linked firm sold drugs without requiring prescriptions: emails

BOSTON (Reuters) – The drug-mixing company at the heart of a deadly U.S. meningitis outbreak solicited bulk orders from physicians and failed to require proof of individual patient prescriptions as required under state regulations, emails to a customer show.

Reuters reviewed more than a dozen emails that show the New England Compounding Center, contrary to Massachusetts regulations, sold drugs without requiring physicians to supply individual patient prescriptions.

Oct 10, 2012

Meningitis outbreak tangles 2 pharmacies with common owners

BOSTON, Oct 10 (Reuters) – Ameridose LLC, a private company
that mixes drugs for hospitals nationwide, sought on Wednesday
to distance itself from the firm at the center of a deadly U.S.
outbreak of fungal meningitis, even though the two pharmacies
have common owners.

Both companies are owned by Gregory Conigliaro, an engineer
who invented a way to turn plastic into pot-hole filler, and his
brother-in-law, Barry Cadden, a pharmacist in charge of pharmacy
operations at the New England Compounding Center, which
distributed thousands of vials of a contaminated steroid that
has been implicated in 12 deaths.

Oct 5, 2012

Analysis: Investors fret over MSCI outlook as ETF price war bites

By Aaron Pressman

(Reuters) – Just four weeks ago, an MSCI (MSCI.N: Quote, Profile, Research, Stock Buzz) executive was crowing about his company’s near-monopoly on providing critical benchmark stock market indexes which are licensed by fund companies around the world.

“It’s the only part of our business in which we have a committed strategy of trying to utilize a little bit of pricing power and raise prices a little bit every year,” Edings Thibault, MSCI’s head of investor relations, told investors at UBS’s Best of Americas conference in London on September 7.

Oct 5, 2012

Investors fret over MSCI outlook as ETF price war bites

Oct 5 (Reuters) – Just four weeks ago, an MSCI (MSCI.N: Quote, Profile, Research)
executive was crowing about his company’s near-monopoly on
providing critical benchmark stock market indexes which are
licensed by fund companies around the world.

“It’s the only part of our business in which we have a
committed strategy of trying to utilize a little bit of pricing
power and raise prices a little bit every year,” Edings
Thibault, MSCI’s head of investor relations, told investors at
UBS’s Best of Americas conference in London on Sept. 7.

Oct 2, 2012

Vanguard dumps MSCI indexes from 22 funds to cut costs

By Aaron Pressman

(Reuters) – Vanguard Group, the largest U.S. mutual fund manager, said on Tuesday it was switching 22 of its biggest index funds away from benchmarks provided by MSCI Inc in order to cut costs.

News that one of its biggest index licensing customers had defected caused shares of MSCI to plunge over 30 percent before recovering slightly. The shares were down 27 percent at $26.09, the lowest in over three years, in afternoon trading.

    • About Aaron

      "Boston-based reporter covering investment management and investing. Previously worked at Businessweek in Boston and at The Industry Standard and Reuters in Washington, D.C."
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