During the company’s second quarter earnings call, CEO Michael Johnson defended Herbalife’s earnings miss and recent hiring of a government affairs official by sharing his grand vision for its future. The comments come a week after Bill Ackman’s Herbalife presentation in New York at which he vehemently insisted the company was a giant pyramid scheme.
Darden Restaurants announced late Monday that CEO Clarence Otis will be stepping down after 10 years with the fast casual dining giant. His departure follows the company’s sale of Red Lobster to private equity firm Golden Gate Capital.
Engaged Capital has taken a 7% stake in Jamba Juice, which it believes is struggling to quell money losses from investments in “non-core” products, a tepid international response, and a failing New York City strategy.
Today, billionaire hedge fund manager Bill Ackman of Pershing Square Capital gave a three-and-a-half-hour presentation about Herbalife, the company he has a $1 billion short position in, and which he’s spent $50 million to date trying to take down. Things got…weird.
On the heels of Time Warner’s rejection of an unsolicited takeover bid from Rupert Murdoch’s 21st Century Fox, here’s a look at how companies politely tell potential buyers to get lost.
Entitled Wives, hidden assets, who gets the big house and other common themes in hedge fund divorces.
Cannell Capital in April doubled its stake in Crumb Bake Shop to more than a million shares, despite nearly all signs pointing to the company’s ultimate demise. Earlier this week, the cupcake giant said it was closing all of its stores and going out of business.
The luxury vehicle group sold more cars in this year’s first six months than any other half-year period in its history, breaking the 1 million mark with a nearly 7% year-over-year sales increase.
Osmium Partners has successfully removed four members of the Spark Networks board after a contentious battle.
IPOs are booming, but they have been overshadowed by high-profile, headline-grabbing mergers and acquisitions.
Investor discontent for executive compensation packages has caught many corporate boards off guard, particularly since stock prices are generally up, experts say.
This is pretty dehumanizing.
The parent company of Olive Garden and Red Lobster missed analyst earnings estimates for the fourth quarter. Executives, who are facing shareholder opposition to the $2.1 billion sale of Red Lobster, called fiscal 2014 “a year of transformation.”
Spark Networks, owner of JDate, Christian Mingle, and other dating websites, is facing a fierce activist campaign by the hedge fund Osmium Partners, which is looking to unseat the board and force a sale of the troubled company.
Starbucks isn’t the only company to offer to pay for most, if not all, of the tuition costs to send its employees to college. Here’s a look at some other companies that offer to pay anywhere from $5,000 per year to 90% of tuition costs for their employees.
Darden says its sale last month of the seafood restaurant chain for $2.1 billion was full and fair. Activist investors say it was a scorched earth tactic meant to save the jobs of executives. A showdown is set for the company’s annual meeting later this year.
Mark Spitznagel, head of the $6 billion Universa Investments hedge fund, was forced by the city of Detroit to remove the 20 goats he had brought to graze in a blighted neighborhood. “The goats are gone.”
The Oracle of Omaha recently sent a letter to a San Francisco pension plan, advising the $20 billion fund not to invest in hedge funds. It’s the latest development in Buffett’s tenuous history with the hedge fund world.
The leading automated financial advisory startup has rocketed up from $700 million in assets in February to cross the billion-dollar mark less than four months later, as its young demographic has continued to invest using the algorithm-based technology.
Everything you need to know to understand the insider trading investigation involving Carl Icahn, Phil Mickelson, and Billy Walters over suspicious trades of Clorox.