Word: petted
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...lend Arizona software developer Sedona much needed operating capital, then trigger the collapse of its stock and profit from the company's demise. This pattern is also alleged in the civil suit handed to Badian on Aug. 8 in his apartment in Austria--only this time the mark was pet-supplies company Pet Quarters, based in Lonoke...
Usually the victims of hedge-fund excesses are their rich customers, who lose when the hedge fund makes a bad bet. But through naked short selling, hedge funds can stir up trouble for any publicly traded firm. In the case of Pet Quarters, the suit alleges that Badian's hedge fund lent the firm sorely needed operating capital on terms that allowed the hedge fund to convert the debt to shares at any time. Through naked short selling, Badian then pushed Pet Quarters stock from $4 to just pennies. Badian balanced his massive short selling with cheap shares obtained after...
Meanwhile, with its stock sinking, Pet Quarters couldn't raise the funds it needed to keep operating, and shut down. CEO Steve Dempsey and an executive who had invested with him wound up filing for personal bankruptcy. "There was nothing wrong with our business," says Dempsey. "We fell prey to the perfect crime." Weiner counters that "most of these companies" that blame short sellers when their stock falls are financially "barely skating...
Around that time, Thomas Badian was living the high life. Registered in his name was a two-seat 1998 Aston Martin. "He told me he liked to put the top down and take a long drive," recalls Pet Quarters' Dempsey. "I asked him if he'd like to drive out to Humboldt [Pa.] to take a look at our distribution center. For a guy who had just loaned us money, he seemed strangely detached. He never did make the drive." He had other plans for Pet Quarters. Just not the ones Dempsey had imagined...
...Institute will house office space for a yearly-rotating group of 12 to 15 fellows in African and African-American research. It will also be home to a gallery space and play host to several long-term research initiatives, including Dalton’s own pet project, the Images of Black and Western Art Research Project and Photo Archive, as well as the African-American National Biography Project. The Institute will also serve as the hub of a new publication, the Du Bois Review: Social Science of Race, to be edited by Lawrence Bobo and Michael Dawson, who continue...