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...Increasingly, so do investors, who are losing faith in hedge funds as a safe place to park their wealth during times of economic turmoil. Funds flourished earlier this decade by offering higher returns than investors could get in more conventional vehicles. Because they are largely unregulated, managers are free to employ a wide variety of sophisticated strategies, including short-selling (borrowing a stock and selling it in the hope of buying it later at a lower price to return to the original lender). The objective is to achieve - for hefty fees - consistent positive returns in good and bad markets...
...Little wonder many investors are rushing for the exits. But there were signs of trouble even before the onset of the bear market. Earlier this year, Spectrem Group, a Chicago-based consultancy that tracks the habits of Americans worth between $5 million and $25 million, reported that the wealthy were dropping hedge funds from their portfolios. In 2005, Spectrem said, 38% of high-net-worth individuals invested in the funds; by 2007, the proportion had fallen...
...Studies of probiotic products have found that some contain far fewer microbes than their makers claim; others contain no live bacteria at all. Earlier this year, Dannon was hit with legal action in California for allegedly exaggerating the benefits of Activia yogurt. The company rejected the accusation...
...month earlier and half a world away, a team of quality-control specialists from Baxter International, the big multinational health-care company (2007 sales: $11.26 billion) based in Deerfield, Ill., arrived in Zhejiang province, China, about two hours by car from Shanghai, to inspect a facility owned by one of its key suppliers. CZ-SPL is a joint venture controlled by Scientific Protein Laboratories LLC (SPL), a Waunakee, Wis., company started in 1976 by Oscar Meyer, of hot-dog fame. (The connection: pigs naturally produce proteins used in pharmaceuticals.) CZ-SPL makes a key ingredient, what in the pharmaceutical business...
Three weeks later, his 47-year-old son Randy, also a dialysis patient and a heparin user, suddenly had symptoms similar to those that had killed his mother. Shockingly, he died on Jan. 15, as his wife Colleen, a dialysis nurse (they had met at the clinic years earlier), frantically and futilely tried to revive him. An uncomprehending family buried Randy Hubley next to his mother in Toledo...