Michael Kim

Michael Kim News

  • Franklin Tops Fund Managers on Hasenstab: Riskless Return

    Franklin Resources Inc., benefiting from the rising popularity of top-ranked bond manager Michael Hasenstab, is the best-performing stock in the money-management business.

  • Franklin’s Profit Increases 14% on Global Market Rally

    Franklin Resources Inc., manager of the Franklin and Templeton mutual funds, said fiscal second- quarter profit rose 14 percent as gains in global stock markets increased assets under management.

  • Legg Mason’s Net Income Falls 62% on Fund Redemptions

    Legg Mason Inc., the Baltimore- based money manager that appointed a new chief executive officer in February, said fiscal fourth-quarter profit fell 62 percent as client withdrawals from its stock and bond funds continued.

  • Searching for Sugarman Salvation in IStar Land: Mortgages

    When Jay Sugarman’s IStar Financial Inc. bought Fremont General Corp.’s commercial lending business in June 2007, the deal brought loans on undeveloped residential land as new home sales were two years into a six-year slide.

  • FERC Power Limited, JPM Hearings, SAC Capital: Compliance

    The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.

  • Ex-Credit Suisse CDO Chief Serageldin to Be Arraigned

    Kareem Serageldin, the ex-global head of Credit Suisse Group AG’s structured credit trading business, will be arraigned today for an alleged 2007 scheme to mark up the value of debt securities to meet targets and boost year-end bonuses for his $5.35 billion trading book.

  • FERC Lacks Power to Regulate Futures, Court Rules

    The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.

  • Munger, Kirkland, Davis Polk, Latham, Weil: Business of Law

    Warren Buffett’s Berkshire Hathaway Inc. and Jorge Paulo Lemann’s 3G Capital agreed to buy HJ Heinz Co. for about $23 billion as the billionaires increased their bets on consumer products. Munger, Tolles & Olson LLP represented Berkshire Hathaway. Kirkland & Ellis LLP represented 3G Capital, and Davis Polk & Wardwell LLP provided legal counsel to the ketchup maker.

  • Ex-Amaranth Trader, CFTC Unite to Ask Court to Toss Fine

    A former natural-gas trader at Amaranth Advisors LLC, backed by the U.S. Commodity Futures Trading Commission, asked a federal appeals court to overturn a $30 million fine imposed by another regulator over alleged manipulation of the gas-futures market.

  • EU Swaps, Nasdaq-Facebook, Ex-Amaranth Trader: Compliance

    Energy and technology companies are among non-financial firms granted a three-year reprieve from parts of European Union rules on over-the-counter derivatives, under a compromise deal backed by lawmakers yesterday.

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