Journalist, New York
Katya's Feed
Mar 9, 2012
via Unstructured Finance

The Book of Goldman

View from Goldman Sachs office, Salt Lake City.

By Katya Wachtel and Lauren Tara LaCapra

Al Crutchfield, a 56-year-old cab driver who has spent most of his life in Salt Lake City, does not understand why so many Americans are angry at Goldman Sachs.

“Everyone seems to be so mad at them all the time, but I think it’s a good thing for Salt Lake that Goldman’s expanding here,” he said. “I drive lots of Goldman Sachs employees, so it’s good for my business, and their folks are really nice.”

Mar 9, 2012

Special report: Goldman’s promised land: Salt Lake City

SALT LAKE CITY (Reuters) – Some 2,000 miles away from the hustle and bustle of Wall Street, Goldman Sachs Group Inc has found an unlikely second home: Mormon country.

Low taxes and a cheap but well-educated workforce persuaded Goldman to go on a hiring binge in Salt Lake City. The bank now employs 1,300 people here — putting Utah’s capital city on a path to become Goldman’s fourth-largest global operation, behind only New York, New Jersey and London.

Mar 9, 2012

Goldman’s promised land: Salt Lake City

SALT LAKE CITY, March 9 (Reuters) – Some 2,000 miles
away from the hustle and bustle of Wall Street, Goldman Sachs
Group Inc has found an unlikely second home: Mormon
country.

Low taxes and a cheap but well-educated workforce
persuaded Goldman to go on a hiring binge in Salt Lake
City. The bank now employs 1,300 people here — putting Utah’s
capital city on a path to become Goldman’s fourth-largest global
operation, behind only New York, New Jersey and London.

Mar 6, 2012

Some gains, and one big fumble for Fortress in Feb

NEW YORK, March 6 (Reuters) – Fortress Investment
Group’s commodities fund battled through February,
losing 5 percent in a month when global financial markets
rallied, according to figures published in an regulatory filing
on Tuesday.

The portfolio is now down 5.43 percent for the year.

But the firm’s macro strategies fared much better last
month, eking out gains as Greece moved closer to securing a 130
billion euro bailout and the Standard and Poor’s 500 stock index
rose 4.1 percent.

Mar 3, 2012
via Unstructured Finance

At Hedge Fund Gala, Hedge Funds MIA

By Katya Wachtel

The classic Wall Street haunt Cipriani, where Hedge Fund Cares held its annual children charity gala on Thursday night, was noticeably devoid of any people who work for hedge funds.

Instead, the room was filled with those who help keep hedge funds running; there was a ton of guests from the Big Four accounting firms, in particular KPMG, as well asĀ  law firms, tax groups, and service providers like Citco and BTIG LLC. There were some hedge fund firms represented of course, including Fortress Investment Group and Tudor Investment Corp.

Feb 28, 2012

Fortress profit shrinks as fund performance lagged

NEW YORK, Feb 28 (Reuters) – Fortress Investment
Group’s quarterly profit slumped as its hedge funds
struggled to make gains in last year’s volatile global markets,
though in some good news for shareholders, the firm will pay its
first dividend since 2008, it said Tuesday.

Fortress, one of a handful of publicly traded alternative
investment managers, announced last year it would reinstate its
dividend in the fourth quarter. The firm has not made a dividend
payout since the second quarter of 2008, and then it was 22.5
cents per share. Next month, shareholders will earn a 5 cent
dividend on each share they own.

Feb 24, 2012

Battle lines forming between MF Global customers, hedge funds

By Nick Brown and Katya Wachtel

(Reuters) – The MF Global saga could soon become a legal battle between hedge funds and the futures brokerage’s shortchanged customers, with more than a billion dollars at stake.

As the investigation into the collapse of the Jon Corzine-led brokerage moves into more of a regulatory whodunnit than a criminal case, the guessing game centers on who the two court-appointed trustees overseeing MF Global’s liquidation will sue to recoup money owed to customers of MF’s broker-dealer unit and creditors of its parent.

Feb 21, 2012

John Paulson firm sued over Sino-Forest bet

By Jonathan Stempel and Katya Wachtel

(Reuters) – A firm run by John Paulson was sued on Tuesday by a prominent Miami investor who claimed the billionaire’s hedge funds failed to conduct proper due diligence on Chinese forestry company Sino-Forest Corp before buying shares, costing investors more than $460 million.

The lawsuit by Hugh Culverhouse, whose namesake father once owned the Tampa Bay Buccaneers team in the National Football League, is among the first targeting Paulson since his funds suffered large double-digit percentage losses in a disastrous 2011, even as U.S. stocks overall were little changed.

Feb 17, 2012

Kinnucan charged, ex-exec guilty in insider trading case

NEW YORK (Reuters) – An outspoken research analyst who made waves by refusing to cooperate in the U.S. government’s broad insider-trading probe was charged with illegally supplying hedge funds with tips as part of his consulting service.

The charges against the analyst, John Kinnucan of Portland, Oregon, were announced shortly before a former executive at flash memory chipmaker SanDisk Corp (SNDK.O: Quote, Profile, Research) pleaded guilty to conspiring to divulge company secrets to an unnamed consultant. A source close to the probe, who declined to be identified, said that consultant was Kinnucan.

Feb 17, 2012

Kinnucan charged, ex-exec guilty in insider case

NEW YORK (Reuters) – An outspoken research analyst who made waves by refusing to cooperate in the U.S. government’s broad insider-trading probe was charged with illegally supplying hedge funds with tips as part of his consulting service.

The charges against the analyst, John Kinnucan of Portland, Oregon, were announced shortly before a former executive at flash memory chipmaker SanDisk Corp pleaded guilty to conspiring to divulge company secrets to an unnamed consultant. A source close to the probe, who declined to be identified, said that consultant was Kinnucan.

    • About Katya

      "Katya Wachtel is a hedge fund and big money reporter for Reuters. She hails from Melbourne. Australia, not Florida. You can contact her at katya.wachtel@thomsonreuters.com"
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