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...That was a pointed reference to the perils of investing in U.S. financial companies over the last 18 months. In May 2007, China Investment Corp. (CIC), the country's sovereign wealth fund, sank $3 billion into Blackstone Group, the U.S. private equity firm, only to watch its stake shrink by half in value as financial stocks tanked. "The leadership [in Beijing] thinks they got taken and they are determined not to let it happen again," says a Hong Kong investment banker close to CIC. But that does not mean the Chinese aren't interested. CIC bought 9.9% of Morgan Stanley...
...Buffett, the book reveals, isn't always the calm, calculating figure we know as head of the storied investment firm Berkshire Hathaway. He could be an emotionally needy husband and an absentee father, a man who purposely avoids people he fears might criticize...
...letter to the community, Keefe said that the Health Alliance will be teaming up with the firm Ernst & Young to evaluate the hospital system’s overall structure and present proposals by the end of December. Keefe said that the Health Alliance—which owns three hospitals and 21 clinics based in Cambridge, Somerville and Boston—will be holding a series of Town Hall-style meetings throughout the coming months to receive input from those with a stake in its future ranging from employees to community leaders...
...many variable-rate bonds issued, Harvard could potentially be losing significantly more. The rate increases at Princeton can be partially attributed to the bankruptcy of Lehman Brothers, the investment bank that underwrote the bonds issued by the New Jersey university. Harvard refused to disclose the name of the firm that underwrote their outstanding public debt, but the University has had at least two fixed-rate bond issuances in 2008, both announced Jan. 23 at sums of $243 million and $145 million, underwritten by Morgan Stanley, according to data from Bloomberg Finance L.P. At the end of 2007, Harvard held more...
...March, matters worsened as perception on Wall Street caused financiers to stop providing the 85-year-old firm with new capital...