Monthly Archives: June 2013

Argentina Goes to U.S. Supreme Court to Stiff Bondholders

Argentina files suit to avoid paying Elliott Management in battle of naval powers. We have previously stated our admiration for the naval prowess of Elliott Management.  But, Argentina continues to fight back. Argentina has asked the U.S. Supreme Court to … Continue reading

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A Recurring Theme Here: The Future Is Mobile, Not Social

We’ve covered this topic on the PRO site a number of times in discussing Facebook’s issues.  (See here and here, for example) Remember when everyone would go nuts when the word “social” was mentioned and talk about their “social layer?”  Their future, … Continue reading

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Facebook COO Sheryl Sandberg Cashes In A Little (For Sheryl Sandberg)

Sheryl Sandberg, Facebook* COO and Director, filed a Form 4 with the SEC disclosing the sale of Facebook shares worth about $4.2 million.  This is but a small portion of her holdings, which were sold under a 10b5-1 trading plan. … Continue reading

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Zynga Downsizing Includes Its Credit Facility

As Zynga downsizes its workforce and operations, it also downsizes its credit facility with Morgan Stanley, Goldman Sachs and JPMorgan. As Zynga has faced some problems in its business, it had to make some changes, including “substantial cost reductions, including … Continue reading

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Corvex Management and Related Fund Management Declare Victory In Attempt To Oust The CommonWealth Directors.

We’ve covered the CommonWealth REIT saga with Corvex Management LP and Related Fund Management LLC, who are trying to oust the CommonWealth directors. The funds, who together own about 9.6% of CommonWealth, announced that they delivered consents from holders of … Continue reading

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CommonWealth REIT: Marcato Joins Fight With Corvex and Related Fund Over Consent Solicitation At CommonWealth.

Getting the band back together. Last we saw Marcato Capital Management, they had teamed up with Corvex Management to reign down some REIT reorg on Corrections Corporation of America (CXW). Last we saw Corvex Management, they had teamed up with … Continue reading

Posted in Activist Investor, Corvex Management, Hedge Funds, Lawsuit, M&A, Marcato Capital Management, Shareholder Meeting, Shareholder Rights, Uncategorized | Tagged , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

lululemon athletica Makes A Sexy Debut In The Opps Tracker

CEO resignation after transparent pants debacle sparks reconsideration of company performance. You may recall that the difficult-name-to-type lululemon athletica made the news in March after pulling a line of black yoga pants because they became see-through, which is not what you want … Continue reading

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Relational Investors Gets Results: Timken Hires Goldman Sachs To Review Whether Timken Should Break Off Business Units

Breaking up is hard to do, but Timken will take a look anyway. We have followed the saga of Relational Investors’ and CalSTRS’ attempt to get Timken Co. to separate its steel and ball bearing businesses. There are now reports … Continue reading

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Key Facebook Exec Leaves the Company for the VC World

The awesomely named Bubba Murarka left Facebook* to join VC firm Draper Fisher Jurveston. People come and go all the time, particularly in a large, dynamic company like Facebook.  No big deal.  Right? Maybe not.  Bubba was the head of … Continue reading

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Let’s Get it Started! sTec Files Proxy Statement For Its Upcoming Contested Election, Nominating Director In Litigation With SEC Over Insider Trading Allegations.

sTec believes a small thing like an SEC insider trading action against its founder/incumbent director/former CEO who resigned under a cloud of an SEC investigation and litigation shouldn’t cause shareholder’s to deviate from its path. sTec filed its proxy statement for … Continue reading

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