FINANCEUBS is closing its fund, Dillon Read Capital Management, after a loss of $124 million in the first quarter. [Reuters via NYT]UBS’s investment banking president in June, is trying to staff his boutique investment bank with former colleagues like Navid Mahmoodzadegan and Warren Woo. [Deal Journal/WSJ]DealBook/NYT] MEDIAJournal, will the staff get the hands-on boss or the laissez-faire owner? [NYT]Times cafeteria will feature sushi, tapas, and a vaguely themed “international” bar. [Gawker]Time 100 list is out. In: Mayor Bloomberg. Out: President Bush. [Time] FASHIONFashionista]NYT]The Shophound] LAWAm Law 100. [Law Blog/WSJ]AutoAdmit. [Law Blog/WSJ] … [Read more...] about Welcome, Hedge-Fund Backlash!
Real money vs hedge fund
A liberal “dark money” group that received millions of dollars from George Soros’s advocacy network, records show, is behind a seven-figure ad blitz urging vulnerable Republicans in swing districts to support the impeachment inquiry into President Donald Trump. The ads, which were scheduled to air this week on “Fox and Friends” in the Washington, D.C., market and in 13 GOP-held congressional districts, feature military veterans urging Republican representatives to “put country over politics” by holding Trump accountable for “abusing his office and risking national security for his own gain.”Each of the ads contains a disclosure stating they’re paid for by “Defend American Democracy,” but D.C. business registration documents reveal the group is just one of the many projects of the Sixteen Thirty Fund, a dark money nonprofit that pumped $141 million into liberal causes in 2018 alone, Open Secrets reported. WATCH: The … [Read more...] about Soros-Linked ‘Dark Money’ Group Is Funding Ads Urging Vulnerable Republicans To Impeach Trump, Records Show
Investments in female-founded startups are higher than ever. Women-led businesses, which make up just 20% of venture-capital backed companies, took in $46.3 billion in capital last year, according to the latest data from PitchBook. That's more than twice the $22 billion female entrepreneurs got the year before and more than 15 times the $3 billion awarded them in 2010. Despite the positive trend, women remain grossly underrepresented, not only as VC-backed entrepreneurs but as venture capitalists themselves. More women are on big company boards, but the numbers are still shockingly low While women VCs are most likely to invest in female founders, men still dominate the VC world. "[A majority] of venture capital firms don't have a single female partner at the table," said Pam Kostka, CEO of All Raise, a nonprofit that provides guidance and access to professional networks for female founders and funders. Among individual venture capitalists, 88% are men. Read More Male … [Read more...] about Women-led businesses are getting more VC funding than ever. But there’s still a long way to go
The “Gas Genius” social media accounts feature softly lit images of families and millennials cooking on outdoor grills, enjoying warm baths and relaxing by roaring fire pits.“Will 2020 be the year you upgrade your home to natural gas?” asked a recent caption on the Gas Genius Instagram.The posts are part of a national campaign to highlight the virtues of natural gas, one of the main contributors to global climate change, as California and other states make plans to phase out fossil fuels. The campaign is led by the American Public Gas Assn., a trade group for municipal gas providers.But some of the funding has come from unknowing customers of Southern California Gas Co., newly disclosed documents show. Advertisement The Los Angeles-based utility — one of America’s largest private gas companies — has been charging ratepayers, rather than shareholders, for some of its contributions to APGA and other gas industry advocacy groups, according to … [Read more...] about Climate action threatens SoCalGas. It’s using customer money to fight back, critics say
MARTINEZ (CBS SF) – Longtime Contra Costa County politician Joe Canciamilla is facing possible criminal charges after agreeing to pay $150,000 in state fines for misusing campaign funds. The California Fair Political Practices Commission voted unanimously Thursday to accept a settlement deal with Canciamilla after he admitted to spending more than $130,000 in campaign funds on personal expenses like vacations and home repairs. In the agreement, Canciamilla, a former county clerk/recorder, state assemblyman and Contra Costa County Superior Court judge candidate, admitted to using the funds for personal purposes in 2011, 2014 and 2015. Also, from 2011 to 2019, Canciamilla concealed the violations on campaign finance forms by overstating his campaign’s available cash on hand and by not reporting campaign committee activities. Additionally, Canciamilla “commingled campaign funds with personal funds” while he was running to be elected judge, according to the FPPC, … [Read more...] about Ex-Contra Costa Clerk-Recorder Admits Pocketing $130K In Campaign Funds, May Face Charges