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Articles You Missed

Designer Warehouse Sale 01

Back in the early days of HITC Life (that would be July, the month we launched), we ran a few articles we're pretty sure you didn't read. To give them a bit more life - and to help you kill some valuable work time - we offer them up once again.

Hedge Fund Founder & Daughter Die In Plane Crash

Reuters reports that a Cessna plane carrying Michael Klein, the founder of US hedge fund Pacificor LLC, his 12-year-old daughter Talia, her 13 year-old friend Francesca Lewis, and a Panamanian pilot, disappeared from radar Sunday after leaving an island Klein owns off the coast of Panama.

Merrill Boss Starts To Get His House In Order

The Wall Street Journal reports that Merrill Lynch is to sell $4.4bn of common stock (with an option for $600m more) to Temasek, the Singaporean state owned investment company. And Fund manager Davis Selected Advisors will buy $1.2bn of common stock too. The firm has also sold its Chigaco-based capital lending business to General Electric, freeing up $1.3bn in capital.

Bear, BlackRock, Morgan Stanley, UBS, SuperSIV, Traders

The New York Post reports that the $854m fourth-quarter loss reported last week by Bear Stearns has given risen again to speculation that the firm might be a takeover target. Bear managed a mere 1.8% return on equity for its 2007 fiscal year, after fixed income losses and revenue falls (prime brokerage revenues fell some 17%).

Working Hard Over the Holidays

So you're at work today. Impressive! Just in case things are slow (you never know), we offer a few of our favourite sites for those working hard (and hardly working). Have fun, and Happy Christmas!