Newspaper wrap-up: John Meriwether is back; New hedge fund problems, angry investors
Posted Mar 27th 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Google (GOOG), Nokia Corp. (NOK), Sony Corp ADR (SNE)
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MAJOR PAPERS:
- John Meriwether, whose Long-Term Capital Management lost $4B in 1998, has new troubles with JWN Partners, as his Meriwether's largest hedge fund has fallen 28%, and another market fund is also down. Investors have until Monday to ask to pull out their investment, the Wall Street Journal reported.
- The Wall Street Journal also reported that failed mortgage provider New Century Financial might be able to get back some of its lost funds by suing its auditor KPMG, according to a court appointed investigator who looked at the company's demise.
- After reaching a deal that allows its customers to access many of Universal Music's songs, the Financial Times reported that Nokia Corporation (NYSE: NOK) is in talks with the other three leading record companies - Sony Corporation's (NYSE: SNE) Sony BMG, EMI and Warner Music Group Corp's (NYSE: WMG) - about giving its customers access to their catalogues.
WEB SITES:
- Comscore has released its February "U.S. paid clicks" report, according to a source, which reportedly said Google Inc's (NASDAQ: GOOG) paid clicks in the U.S. during the month increased 3% year-over-year; however, the 'slight, slight improvement' from January may not actually be, the Silicon Alley Insider reported, since Comscore did not adjust for Leap Year. Google's paid clicks in December were up 12% and up 27% in November.
Tags: EMI Group, EmiGroup, GOOG, Google, John Meriwether, JohnMeriwether, KPMG, New Century Financial, NewCenturyFinancial, NOK, nokia, SNE, sony, Sony BMG, SonyBmg, warner music, warner music group, WarnerMusic, WarnerMusicGroup, WMG
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