Sports broadcasting giant Pat Summerall, who died on Tuesday, was a rarity in the booth: a former pro athlete who excelled at play-by-play without excessive hyperbole, letting analyst and partner John Madden do most of the talking. "What [Summerall] did is very difficult to do. He had a gift. It's hard to say a lot in a minimal amount of words," said Bob Stenner, who produced the Madden-Summerall team at CBS and Fox.
With some estimating hedge funds now control $100 billion in assets and some concern rising about a squeeze in market liquidity, 2007 may still be a fertile year for hedge-fund managers who bet companies will default on their debt.
Regulators are growing concerned by "hedge fund hotels" -- cushy lease deals in which banks lease space to hedge-fund managers in hope that the hedge funds will become major clients. UBS, which operates 400,000 square feet of hedge fund hotels in a number of U.S. cities, has been subpoenaed by the the Massachusetts secretary of state, who wants to know if the hedge funds are paying higher-than-average fees to banks in exchange for the space, but not disclosing the arrangement to investors.
You know those ridiculous spam e-mails, full of misspelled words and hysterical warnings of lost profit potential that tout some penny stock you have never heard of? Ever wonder how many people would invest based on something like that? It turns out the answer is -- enough to move the share price.