The Florida Panthers may score!

If all goes as planned, the National Hockey League team will be picked up by a special purpose acquisition company (SPAC) - also known as a "blank check company" - that boasts a management team including baseball legend Hank Aaron. The acquiring company, Sports Properties Acquisition Corp (AMEX: HMR), which leads to something of a spooky acronym, is rumored to be making a move on the hockey team for $240 million. If this works, the SPAC called SPAC would be one of only a few companies recently to round up investors for this type of deal.

Continue reading SPAC attack! (on ice)

SPAC attack! (on ice) originally appeared on BloggingStocks on Wed, 03 Jun 2009 15:00:00 EST. Please see our terms for use of feeds.

The Wall Street Journal reports (subscription required) that "The Securities and Exchange Commission is expected to propose a federal rule that would ban investment advisers from managing public pension-fund money after contributing to the campaigns of state pension fund overseers."

The move comes in response to several pension fund scandals that have emerged in recent months. New York Attorney General Mario Cuomo, along with the SEC, is investigating allegations that former state comptroller Alan Hevesi was effectively selling pension fund business.

Continue reading SEC cracks down on 'pay to play' investment advisers

SEC cracks down on 'pay to play' investment advisers originally appeared on BloggingStocks on Sun, 10 May 2009 14:10:00 EST. Please see our terms for use of feeds.