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Mon Mar 10, 2014, 06:59 AM

How to make money in America in the 21st century

After Big Bet, Hedge Fund Pulls the Levers of Power

Staking $1 Billion That Herbalife Will Fail, Then Lobbying to Bring It Down

WASHINGTON — At a Midtown Manhattan steakhouse last June, William A. Ackman, the activist hedge fund manager who had bet a billion dollars on the collapse of the nutritional supplement company Herbalife, offered his latest evidence to a handful of other hedge fund managers about why the company’s stock could soon plummet.

Mr. Ackman told his dinner companions that Representative Linda T. Sánchez, Democrat of California, had sent a letter to the Federal Trade Commission the previous day calling for an investigation of the company.

The commission had not yet stamped the letter as received, nor had it been made public. But Mr. Ackman, who had personally lobbied Ms. Sánchez and stood to profit if the company’s stock dropped as a result of the call for an inquiry, already knew what it said, and read from a copy of it that he had on his cellphone.

http://www.nytimes.com/2014/03/10/business/staking-1-billion-that-herbalife-will-fail-then-ackman-lobbying-to-bring-it-down.html?emc=edit_th_20140310&nl=todaysheadlines&nlid=45299538&_r=0


This is why they don't needs jobs to make money, they have learned how to make money destroying companies.

8 replies, 1016 views

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Arrow 8 replies Author Time Post
Reply How to make money in America in the 21st century (Original post)
liberal N proud Mar 2014 OP
hobbit709 Mar 2014 #1
Laelth Mar 2014 #2
NBachers Mar 2014 #3
liberal N proud Mar 2014 #5
Romulox Mar 2014 #4
Bernardo de La Paz Mar 2014 #6
DhhD Mar 2014 #7
BlackM Mar 2014 #8

Response to liberal N proud (Original post)

Mon Mar 10, 2014, 07:03 AM

1. Another useless oxygen stealing waste.

If there was true justice in the universe people like him would be put in a hole so deep their food would have to be sent down in pressurized containers.

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Response to liberal N proud (Original post)

Mon Mar 10, 2014, 08:49 AM

2. k&r for the truth, however depressing it may be. n/t

-Laelth

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Response to liberal N proud (Original post)

Mon Mar 10, 2014, 09:31 AM

3. I am disappointed in Linda Sanchez. I've donated to her; I've advocated for her.

Looks like I didn't donate quite enough, however.

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Response to NBachers (Reply #3)

Mon Mar 10, 2014, 09:35 AM

5. Do you have enough?

I know that I don't, the ones committing these crimes are the ones that have enough to buy a politician or two.



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Response to liberal N proud (Original post)

Mon Mar 10, 2014, 09:34 AM

4. We have one party of oilmen, and another of financiers. nt

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Response to liberal N proud (Original post)

Mon Mar 10, 2014, 09:49 AM

6. Regardless, Herbalife deserves to be investigated. nt

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Response to liberal N proud (Original post)

Mon Mar 10, 2014, 09:58 AM

7. Serial Killers

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Response to liberal N proud (Original post)

Mon Mar 10, 2014, 09:58 AM

8. This is insider trading

...and I hope it get's duly investigated as well, unless of course Ackman makes another round of donations to congress.

(Herbalife should still have been investigated, but it shouldn't take lobbying to make that happen).

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