In the end, he wasn’t in some sub-Saharan refuge, an Asian island paradise or a secluded European spa … fugitive former hedge fund manager Samuel Israel III (pictured right) was holed up in a mobile home (pictured below). Israel handed himself over to authorities in Massachusetts to start his 20-year prison sentence after having faked his suicide to avoid doing time. Israel, who co-founded Connecticut hedge fund Bayou Group, in 2005 pleaded guilty to a scheme to fabricate returns and cheat investors out of $450 million. He was sentenced in April. Police said his mother convinced him to turn himself over to police. If he was hoping for another shot at fleedom, he can forget about it. “There is not the slightest possibility that I or any other judge would release you at this point,” Judge Michael Ponsor told Israel before turning him over to U.S. Marshals.
Landmark Communications could announce the sale of the Weather Channel to a group made up of NBC Universal, Blackstone and Bain Capital in the next day or two, sources briefed on the matter said. The final price on the cable network, which produces national, regional and local weather-related programs, is expected to be between $3 billion and $3.5 billion, and likely at the higher end of that range, the sources said. The parties have been negotiating directly with Landmark since Time Warner withdrew its bid two weeks ago. There is always a small chance things could fall apart or slow down at the last minute, but absent any such unforeseen problems, the deal should be announced in the next couple days, one of the people said.
BHP Billiton said U.S. antitrust authorities have cleared its unsolicited $170 billion bid for rival miner Rio Tinto. The company’s announcement said the clearance satisfied part of U.S. antitrust law requirements. U.S. law gives antitrust authorities the right to re-open their investigation if new information comes to light before the transaction closes, experts say. However in reality, the United States has now given full clearance to the deal, not that U.S. opposition is a major issue for the mega merger. Problems are more likely to be raised in Asia and Europe.