“You put your hand — ever so gently — ON MY ASS and asked if you could take me to go.”
A petition started by an Olive Garden employee to force Darden and Starboard Value to listen to workers’ concerns over layoffs and wages has gathered nearly 7,000 signatures.
Starboard Value’s meticulously detailed takedown of Olive Garden, which claims the restaurants gives away too many free breadsticks, overuses salad dressing, and doesn’t salt the water before cooking its pasta, made it to Last Week Tonight With John Oliver.
Four days after an activist hedge fund released an eviscerating analysis on the state of Olive Garden restaurants, claiming it was giving away too many breadsticks and doesn’t salt the water before cooking its pasta, among other things, parent company Darden responds.
Boatloads of breadsticks, too much salad dressing, false wait times, excessively long asparagus, and other grievances of an activist hedge fund gunning for change at the pasta powerhouse.
Bill Ackman likes to position himself as making investments that are “good for America,” and while he admits that some of his 30 activist campaigns have cost jobs, he believes he is ultimately a job creator.
Osmium Partners, which just unseated the CEO and took control of the board of Spark Networks, the parent company of JDate.com and ChristianMingle.com, now holds a 10% stake in Rosetta Stone.
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.
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.
World Acceptance, a controversial lending company that has long been a short target of hedge funds, was forced to disclose an investigation by the Consumer Protection Bureau and a separate investigation of securities fraud, causing the stock to tank.
Eminence Capital, one of the loudest voices in the battle to merge Men’s Wearhouse and Jos. A. Bank, stands to make millions on the deal.
In reaching an agreement today to acquire Jos. A. Bank for $65 per share, Men’s Wearhouse has ended the months-long battle to merge the two suit retailers. The combined companies will have over 1,700 stores in the U.S. and sales of $3.5 billion.
Bill Gates tried to get hedge fund founder Robert W. Wilson, who committed suicide over the weekend, to join his giving pledge. Wilson, who gave away hundreds of millions of dollars of his personal fortune on his own, politely told Gates he wanted to “stay far away” from his effort.
The arrest of Jim Bisenius, founder of $3 billion hedge fund Common Sense Investment Management, rocked Portland’s close-knit finance community.
As part of a settlement with the U.S. Securities and Exchange Commission, hedge fund manager Philip Falcone was banned from trading for 5 years and fined $18 million.Most significantly, and unlike in most of these types of cases, the founder of Harbinger Capital Partners was forced to admit to wrongdoing as part of the deal.
In a wide-ranging interview on PBS’ Charlie Rose show Tuesday night, Ackman defended his recent actions against J.C. Penney and himself against attacks from rivals.
Steven Cohen and the hedge fund named after him insist they’ve done nothing wrong in response to a federal jury indicting the firm this morning. If federal prosecutors take SAC to trial, here’s what they’ll be telling the jury to focus on.
The firm founded and run by billionaire Steve Cohen was indicted by a federal grand jury for an alleged insider trading scheme that lasted more than a decade. Cohen himself was not charged.
Bridgewater Associates is the world’s biggest hedge fund. It also has the most cultish employee handbook. Can you tell its handbook from a sex column?
Turney Duff’s new memoir is supposed to be a “mesmerizingly immersive journey through Wall Street’s hidden terrain.” But we’ve read it all before.
Steven Cohen, the embattled manager of hedge fund SAC Capital, is weighing a move to a family office model. Is he asking for disgruntled former employees to start talking?
Investors in Steve Cohen’s SAC Capital hedge fund, which is battling an insider trading probe, have until the end of the day to ask for their money back.The Wall Street Journal reported that an estimated $3.5 billion is expected to be pulled from the hedge fund.