Managers at the U.S. General Services Administration improperly intervened in decisions to award contracts, resulting in inflated prices and unfavorable terms for the government, according to an inspector general’s report.
Brian Miller, who runs global trading at hedge fund Elliott Management Corp., is leaving after 21 years at one of the industry’s top performers and may eventually start his own fund, according to a letter to clients.
The General Services Administration held a one-day event at a cost topping a quarter of a million dollars less than a month after spending more than $823,000 at a Las Vegas conference that triggered a shake-up of the agency.
Philip Falcone may have to seek a buyer for LightSquared Inc.’s airwaves after regulators rejected his business plan. If he has to sell, the proceeds will probably be a fraction of what the billionaire invested.
A General Services Administration official refused to answer questions at a congressional hearing into an $823,000 Las Vegas conference criticized by lawmakers and the Obama administration for wasting taxpayer money.
Billionaire Phil Falcone is seeking to swap spectrum owned by LightSquared Inc. with that controlled by the U.S. Department of Defense, a person with knowledge of the company said, in an effort to salvage his investment and save his hedge fund.