Unstructured Finance

Deals wrap: What now for Berkshire?

March 31, 2011

David Sokol, Chairman, MidAmerican Energy Holdings, and Chairman, President, and CEO of NetJets, speaks during the Fortune Brainstorm Green conference in Dana Point, California April 13, 2010. Reuters/Mario AnzuoniWarren Buffett’s reputation as someone who prides himself on his transparency and handpicks managers who can run businesses in a similar manner, took a blow when David Sokol, widely seen as Buffet’s successor at Berkshire Hathaway, resigned after buying shares in chemical company Lubrizol Corp before pushing Buffett to acquire it. Sokol said he did nothing wrong. Analysts said any impact on Berkshire Hathway will be short-term but acknowledged that Buffet’s brand was damaged.

Jimmy John’s franchise fires union workers after sick-day campaign

March 30, 2011

The owners of 10 Minnesota Jimmy John’s sandwich shops — where a rare unionization vote was narrowly rejected last year — have fired six union organizers.

Deals wrap: Swiss wealth managers targeted

March 30, 2011

A man uses his cellphone as he walks past a logo at the entrance of Swiss bank Julius Baer Group headquarters in Zurich October 6, 2008. REUTERS/Christian Hartmann The latest clampdown by German and U.S. authorities on tax-evading clients at banks such as Credit Suisse could make Swiss wealth management firms alluring takeover targets, bankers say. Swiss private banks have been intensifying their cleanup of untaxed assets in an effort to limit the attention of foreign authorities, reducing risk for potential acquirer, writes Martin de Sa’Pinto and Edward Taylor. Union Bancaire Privee, EFG and Julius Baer are seen as targets.

Deals wrap: GE to slow M&A warpath

March 29, 2011

General Electric Co Chairman & CEO Jeff Immelt talks to the media before speaking at the Detroit Economic Club in Birmingham, Michigan June 26, 2009. REUTERS/Rebecca CookGeneral Electric continued on its M&A warpath with a $3.2 billion agreement to acquire France’s Coverteam, a maker of automation systems used in the oil and gas sector, marking the latest in a series of deals in the energy industry. But, after some $11 billion in acquisitions in the energy sector over the past six months, GE plans to slow its pace of dealmaking, a top executive said.

Do do do…

March 29, 2011

A new song has emerged in the European funds industry, born in the midst of the financial crisis. It is called “let’s all do a Carmignac”. It may not be quite as catchy as the Conga, and maybe not quite as much fun, but it has certainly gained a number of followers.

Gerard Fitzpatrick: Positive on global growth

March 29, 2011

Guest blogger Gerard Fitzpatrick is portfolio manager at Russell Investments, where he runs a $5 billion global bond fund.

Morning Line-Up: Turning the tide or washed out by tsunami

March 29, 2011


News and views on the asset management industry from Reuters and elsewhere:

Computer driven funds hit in Japan fallout – Financial Times

Aberdeen inflows turn positive in 2011 – Reuters

Dreyfus launches emerging market fund – Wall Street Journal



L&T shares rise more than 2 pct

March 28, 2011

Shares in Larsen & Toubro gained 2.5 percent on Monday, helping Sensex post its 5th consecutive day of gains.

Deals wrap: eBay’s $2.4 billion GSI buy

March 28, 2011

Visitors chat next to the Ebay logo at the CeBIT computer fair in Hanover March 2, 2011. REUTERS/Tobias Schwarz EBay said it plans to buy e-commerce company GSI Commerce, which owns Web businesses such as the flash site Rue La La and ShopRunner, for $2.4 billion. Ebay said it will offer shareholders of GSI $29.25 per share, a 51 percent premium over its closing price on Friday.