failures

Redstone feeds fish as his empire implodes

Filed under failures, Sumner Redstone - Viacom
December 4, 2008 11:25 pm

Sumner Redstone, the media mogul who famously coined the phrase “content is king”, could well achieve another kind of fame very soon as the first major media casualty of the ... Read more »

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Merckle to hand control of groups to banks

Filed under failures, Adolf Merckle - VEM
10:48 pm

Adolf Merckle, the German billionaire who lost large sums by betting on falling share prices, is about to give control over large parts of his industrial empire to his banks. ... Read more »

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Citadel Funds Lose 13% in November, 47% This Year

Filed under Hedge funds, Ken Griffin - Citadel, failures
10:45 pm

Citadel Investment Group LLC, the Chicago-based hedge-fund firm run by Kenneth Griffin, lost 13 percent in November, bringing the decline for the year to 47 percent, according to two people ... Read more »

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Sibir Plunges 57% on Russian Billionaire ‘Bailout’

Filed under failures, Chalva Tchigirinsky
December 3, 2008 11:07 pm

Sibir Energy Plc, a London-traded Russian oil producer, fell the most since it listed in 1997 after announcing plans to buy $340 million worth of property from billionaire shareholder Chalva ... Read more »

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Sumner Redstone sells Midway Games stake for $600 million loss

Filed under failures, Sumner Redstone - Viacom
December 1, 2008 11:25 pm

Billionaire media mogul Sumner Redstone and his holding companies have sold his family’s 80.3 million shares in Midway Games Inc. for less than a penny each, according to a Monday ... Read more »

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Tudor’s BVI Halts Withdrawals, Plans Hedge-Fund Split

Filed under Hedge funds, failures, Paul Tudor Jones - Tudor Investment Corporation
10:46 pm

Tudor Investment Corp., the firm run by Paul Tudor Jones, temporarily suspended client redemptions from the $10 billion BVI Global Fund Ltd. as it plans to split the hedge fund ... Read more »

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Redstone Weighs Sale of Theaters

Filed under failures, Sumner Redstone - Viacom
November 25, 2008 9:48 pm

In  an effort to stave off the dismantling of his media empire, Sumner M. Redstone, the controlling shareholder of Viacom and CBS, recently proposed to sell his family’s 1,500-screen theater ... Read more »

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Perot’s Parkcentral Fund Closes as Credit Freezes

Filed under Hedge funds, failures, Ross Perot - Perot Systems
9:25 pm

Parkcentral Capital Management LP, an investment firm that manages money for the family of former U.S. presidential candidate H. Ross Pero, is liquidating a fixed-income hedge fund because it’s “no ... Read more »

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Alwaleed Buys Citigroup Stock as Loss Exceeds Buffett

Filed under Alwaleed bin Talal - Kingdom Holding, failures
November 20, 2008 9:45 pm

The Warren Buffett of the Gulf is taking a bigger hit from the credit crunch than the original.Prince Alwaleed bin Talal was lauded by Time magazine as the Middle East’s ... Read more »

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Merckle Wins Time to Rescue VEM Unit

Filed under failures, Adolf Merckle - VEM
9:43 pm

VEM Vermoegensverwaltung GmbH the investment unit of Germany’s billionaire Merckle family, won a two-week extension to secure bank financing after wrong-way bets on Volkswagen AG shares and the plunging value ... Read more »

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Zaleski looks to refinance his debts

Filed under failures, Romain Zaleski
November 18, 2008 6:57 pm

Romain Zaleski, the Franco-Polish financier whose portfolio of Italian banking shares has plummeted in value in recent months, is in talks with Italian banks about refinancing part of his €5.5bn ... Read more »

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Merckle Said to Need as Much as EU1.1 Billion

Filed under failures, Adolf Merckle - VEM
6:45 pm

Germany’s billionaire Merckle family, stung by losses on Volkswagen AG shares, needs as much as 1.1 billion euros ($1.4 billion) in financing to avert insolvency of its investment company, four ... Read more »

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Yahoo co-founder Jerry Yang steps down as CEO

Filed under failures, Jerry Yang - Yahoo
November 17, 2008 9:50 pm

Yahoo co-founder Jerry Yang, who earned the ire of many share-holders for rejecting a 47-billion-dollar takeover offer from Microsoft, is stepping down as chief executive of the Internet company.The Sunnyvale, ... Read more »

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Billionaire Merckle Said to Seek Aid After Volkswagen Squeeze

Filed under failures, Adolf Merckle - VEM
November 16, 2008 12:00 pm

Germany’s billionaire Merckle family is seeking to prop up an investment company battered by wrong- way bets on Volkswagen AG shares and plunging stock markets, three people familiar with the ... Read more »

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Gendell’s Tontine Capital to Liquidate Two Stock Hedge Funds

Filed under Hedge funds, failures, ex-billionaires, Jeffrey Gendell - Tontine Associates
November 11, 2008 10:23 pm

Tontine Partners, one of the largest and most successful hedge fund families, is now liquidating two of its major funds, Tontine Capital and Tontine Partners, CNBC has learned. The hedge ... Read more »

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Las Vegas Sands Plunges on Default, Bankruptcy Risk

Filed under Sheldon Adelson - Las Vegas Sands, failures
November 6, 2008 9:29 pm

Las Vegas Sands Corp., billionaire Sheldon Adelson’s casino company, fell the most in New York trading since went public after saying it may default on debt and face bankruptcy.The casino ... Read more »

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Slump in stockmarkets wipes out two-thirds of China’s billionaires

Filed under Lists and Statistics, failures
November 2, 2008 1:00 pm

More than 40 impoverished Chinese tycoons, who have lost their platinum status thanks to the world’s financial turmoil.Louis Vuitton, Cartier and Bentley should perhaps be bracing themselves for leaner times. ... Read more »

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BP Capital Loses $2B in Oil

Filed under T. Boone Pickens - BP Capital, failures
November 1, 2008 9:55 pm

BP Capital has recently moved its assets to cash and discussing his plan for energy with Boone Pickens, BP Capital CEO http://www.cnbc.com/id/15840232?video=911136857

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Credit Crisis Claims First Gulf Billionaire

Filed under failures, Bassam Alghanim - Gulf Bank
October 29, 2008 8:43 pm

 Flush oil prices and plenty of mystique had, until recently, lent the Persian Gulf an aura of immunity when it came to the current credit crisis. No more. Kuwaiti banking ... Read more »

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Russia Tosses Life Preserver to One of Its Richest Men

Filed under failures, Mikkhail Fridman - Alfa Group
8:37 pm

The Kremlin is stepping in to bail out one of the country’s richest men, in what could be the first move in a shakeout among the powerful businessmen known as ... Read more »

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