CFO.com | US
September 30, 2008
A small-business lender owned by Allied Capital filed for bankruptcy protection today, after the worth of its assets shrank amid the uncertainty in the financial markets.
Allied, which invests in middle-market businesses, said Ciena Capital's assets have significantly deteriorated, to the point at which its assets would not cover its liabilities.
Wednesday, October 1, 2008
Monday, September 15, 2008
Lehman Bankruptcy Filing
September 15, 2008
Weil, Gotshal & Manges got the job on Lehman Brothers' bankruptcy.
Lehman filed for Chapter 11 bankruptcy early Monday, declaring $639 billion in assets and $613 billion in debts. Weil, Gotshal & Manges scored the job of debtors counsel, with Harvey Miller leading the team. Miller handled the bankruptcy of Drexel Burnham Lambert Inc. in 1990, the last major investment bank to go under.
http://www.law.com/jsp/article.jsp?id=1202424531770
Download Lehman's bankruptcy filing from
http://amlawdaily.typepad.com/amlawdaily/files/lehman.pdf
Weil, Gotshal & Manges got the job on Lehman Brothers' bankruptcy.
Lehman filed for Chapter 11 bankruptcy early Monday, declaring $639 billion in assets and $613 billion in debts. Weil, Gotshal & Manges scored the job of debtors counsel, with Harvey Miller leading the team. Miller handled the bankruptcy of Drexel Burnham Lambert Inc. in 1990, the last major investment bank to go under.
http://www.law.com/jsp/article.jsp?id=1202424531770
Download Lehman's bankruptcy filing from
http://amlawdaily.typepad.com/amlawdaily/files/lehman.pdf
Wednesday, May 28, 2008
Thursday, May 1, 2008
SEC's Atkins Calls for Fair-Value Guidance
The commissioner thinks companies may need help in estimating values when there are no yardsticks to measure them.
April 25, 2008
In his interview with Reuters, Atkins suggested that issuers needed more help in estimating Level 3–type values. "Something is clearly not worth zero. It's worth something, so what do you benchmark it to? Between us and the accounting firms and the investment banks...we need to come up with some good guidance for people," he said.
Three levels of fair-value estimates in a descending order based on the relative amounts of market information available:
in Level 1, an asset or liability can be valued based on a quoted price in an active market;
in Level 2, it can be valued based on information other than quoted prices but with "observable market data"; and
in Level 3, it can be valued only through "unobservable inputs" and the best available information under the circumstances.
Refer CFO.com for more details
http://www.cfo.com/article.cfm/11114985?f=alerts
The commissioner thinks companies may need help in estimating values when there are no yardsticks to measure them.
April 25, 2008
In his interview with Reuters, Atkins suggested that issuers needed more help in estimating Level 3–type values. "Something is clearly not worth zero. It's worth something, so what do you benchmark it to? Between us and the accounting firms and the investment banks...we need to come up with some good guidance for people," he said.
Three levels of fair-value estimates in a descending order based on the relative amounts of market information available:
in Level 1, an asset or liability can be valued based on a quoted price in an active market;
in Level 2, it can be valued based on information other than quoted prices but with "observable market data"; and
in Level 3, it can be valued only through "unobservable inputs" and the best available information under the circumstances.
Refer CFO.com for more details
http://www.cfo.com/article.cfm/11114985?f=alerts
Wednesday, April 30, 2008
Friday, April 4, 2008
2008 Separately Managed Accounts Award Winners
Investment Advisor Magazine and Prima Capital Announce 2008 Separately Managed Accounts Award Winners -- Fourth Annual Ranking Recognizes Six "At the Summit" Management Teams and Portfolios
Investment Advisor magazine and Prima Capital announced today that six portfolio management teams have been chosen as winners of the 2008 Separately Managed Accounts (SMA) Awards. This is the fourth year that Investment Advisor and Prima Capital have partnered to identify separate accounts that are best in class.
This year, there are six winners in five categories:
Large-Cap U.S. Equity,
Mid-Cap Domestic Equity,
Small-Cap Domestic Equity,
International Equity, and
Fixed Income.
New York, April 1, 2008
Investment Advisor magazine and Prima Capital announced today that six portfolio management teams have been chosen as winners of the 2008 Separately Managed Accounts (SMA) Awards.
This is the fourth year that Investment Advisor and Prima Capital have partnered to identify separate accounts that are best in class.
The SMA Award winners are profiled in Investment Advisor's April cover story and online at www.investmentadvisor.com beginning April 1. The winners are:
• Appleton Tax-Exempt Municipal, managed by a team including Senior Vice President, Fixed Income, and Portfolio Manager Anson Clough. This is the third consecutive year that Appleton has won in the fixed-income category;
• Congress Large-Cap Growth, which is run by the firm's Large-Cap Growth Investment Policy Committee. Dan Lagan, Congress's Chief Investment Officer and President, heads the team;
• C. S. McKee Small-Cap Core Equity, managed by a team including Lead Portfolio Manager Phu O;
• Eagle International Equity, managed by a team including Partners Eddie Allen, John Gualy, Thomas Hunt, and Steven Russo. This two-time winner also received the SMA Award for international equity in 2005;
• Geneva Mid-Cap Growth, run by Portfolio Managers Amy Croen, William Priebe, Michelle Picard, and Scott Priebe. This is the second year in a row that Geneva Mid-Cap Growth received the Mid-Cap SMA Award; and,
• Thornburg Value Equity, which is run by co-portfolio managers Bill Fries, Edward Maran, and Connor Browne. This is the fourth consecutive SMA Award for Thornburg in the U.S. large-cap equity category.
"Advisors performing asset allocation work on behalf of their high-net-worth clients need to know who the best managers are; Prima's unparalleled data and analysis provides valuable guidance for our readers to gain that knowledge," said Investment Advisor Editorial Director Jamie Green.
To be eligible for consideration, a separately managed account must have at least $200 million in assets, lead-manager tenure of three years or more, be widely available for distribution by investment advisors and wealth managers, and rank above-average in at least four of the five categories identified by Prima.
The categories include firm quality, depth of resources, level of client service and customization, tax efficiency, and performance. Data was based on year-end 2007 statistics.
This year's SMA Award Selection Committee included Prima Capital President J. Gibson (Gib) Watson, III, CIMA®, Investment Advisor Editorial Director Jamie Green, and Senior Editor Kathleen McBride, Prima Capital Chief Investment Officer Cliff Stanton, CFA, and his colleague, Nathan Behan, CFA, Prima's Director of Research.
"In today's challenging markets when many financial theories are being questioned, the one principle that continues to hold true is that investment quality is the Holy Grail" said Mr. Watson. "This year's SMA Award winners represent the types of all-weather investments that advisors and their clients should consider because they offer clear investment philosophies, repeatable processes, consistent performance and peace of mind."
With a circulation of 110,000, Investment Advisor is now in its 28th year of serving independent and independent-minded investment advisors and financial planners across the United States. Investment Advisor, part of Summit Business Media, LLC, offers information and analysis on wealth management, retirement planning, investment strategies, practice management, compliance and regulatory issues, and insurance and tax planning, all designed to help registered investment advisors and independent broker/dealer representatives become more successful.
Prima Capital is a leading provider of wealth management solutions to banks, broker dealers and trust companies. Prima conducts objective, institutional-quality research and due diligence on separately-managed accounts, mutual funds, ETFs and alternatives. Strong proponents of investment quality, Prima's analysts uncover "best of breed" separate account managers who deliver consistently strong returns with considerably less risk than their competitors. Prima also offers portfolio strategy and advice to executives who oversee multi-manager wealth management programs. The company recently launched multi-manager portfolios - Prima Target Risk Portfolios and Prima Target Date Portfolios - which bundle the best managers from Prima's objective research into a portfolio.
Please visit the website at www.primacapital.com for additional information
Investment Advisor magazine and Prima Capital announced today that six portfolio management teams have been chosen as winners of the 2008 Separately Managed Accounts (SMA) Awards. This is the fourth year that Investment Advisor and Prima Capital have partnered to identify separate accounts that are best in class.
This year, there are six winners in five categories:
Large-Cap U.S. Equity,
Mid-Cap Domestic Equity,
Small-Cap Domestic Equity,
International Equity, and
Fixed Income.
New York, April 1, 2008
Investment Advisor magazine and Prima Capital announced today that six portfolio management teams have been chosen as winners of the 2008 Separately Managed Accounts (SMA) Awards.
This is the fourth year that Investment Advisor and Prima Capital have partnered to identify separate accounts that are best in class.
The SMA Award winners are profiled in Investment Advisor's April cover story and online at www.investmentadvisor.com beginning April 1. The winners are:
• Appleton Tax-Exempt Municipal, managed by a team including Senior Vice President, Fixed Income, and Portfolio Manager Anson Clough. This is the third consecutive year that Appleton has won in the fixed-income category;
• Congress Large-Cap Growth, which is run by the firm's Large-Cap Growth Investment Policy Committee. Dan Lagan, Congress's Chief Investment Officer and President, heads the team;
• C. S. McKee Small-Cap Core Equity, managed by a team including Lead Portfolio Manager Phu O;
• Eagle International Equity, managed by a team including Partners Eddie Allen, John Gualy, Thomas Hunt, and Steven Russo. This two-time winner also received the SMA Award for international equity in 2005;
• Geneva Mid-Cap Growth, run by Portfolio Managers Amy Croen, William Priebe, Michelle Picard, and Scott Priebe. This is the second year in a row that Geneva Mid-Cap Growth received the Mid-Cap SMA Award; and,
• Thornburg Value Equity, which is run by co-portfolio managers Bill Fries, Edward Maran, and Connor Browne. This is the fourth consecutive SMA Award for Thornburg in the U.S. large-cap equity category.
"Advisors performing asset allocation work on behalf of their high-net-worth clients need to know who the best managers are; Prima's unparalleled data and analysis provides valuable guidance for our readers to gain that knowledge," said Investment Advisor Editorial Director Jamie Green.
To be eligible for consideration, a separately managed account must have at least $200 million in assets, lead-manager tenure of three years or more, be widely available for distribution by investment advisors and wealth managers, and rank above-average in at least four of the five categories identified by Prima.
The categories include firm quality, depth of resources, level of client service and customization, tax efficiency, and performance. Data was based on year-end 2007 statistics.
This year's SMA Award Selection Committee included Prima Capital President J. Gibson (Gib) Watson, III, CIMA®, Investment Advisor Editorial Director Jamie Green, and Senior Editor Kathleen McBride, Prima Capital Chief Investment Officer Cliff Stanton, CFA, and his colleague, Nathan Behan, CFA, Prima's Director of Research.
"In today's challenging markets when many financial theories are being questioned, the one principle that continues to hold true is that investment quality is the Holy Grail" said Mr. Watson. "This year's SMA Award winners represent the types of all-weather investments that advisors and their clients should consider because they offer clear investment philosophies, repeatable processes, consistent performance and peace of mind."
With a circulation of 110,000, Investment Advisor is now in its 28th year of serving independent and independent-minded investment advisors and financial planners across the United States. Investment Advisor, part of Summit Business Media, LLC, offers information and analysis on wealth management, retirement planning, investment strategies, practice management, compliance and regulatory issues, and insurance and tax planning, all designed to help registered investment advisors and independent broker/dealer representatives become more successful.
Prima Capital is a leading provider of wealth management solutions to banks, broker dealers and trust companies. Prima conducts objective, institutional-quality research and due diligence on separately-managed accounts, mutual funds, ETFs and alternatives. Strong proponents of investment quality, Prima's analysts uncover "best of breed" separate account managers who deliver consistently strong returns with considerably less risk than their competitors. Prima also offers portfolio strategy and advice to executives who oversee multi-manager wealth management programs. The company recently launched multi-manager portfolios - Prima Target Risk Portfolios and Prima Target Date Portfolios - which bundle the best managers from Prima's objective research into a portfolio.
Please visit the website at www.primacapital.com for additional information
Lexington Wealth Management Named one of Reuters Top Five Advisers for 2008
Lexington Wealth Management Named one of Reuters Top Five Advisers for 2008
Lexington Wealth Management, a leading wealth management and investment consulting firm for high net worth individuals, was recognized by Reuters as a leading adviser in the New England region.
Lexington, MA (PRWEB) April 2, 2008
Lexington Wealth Management, a leading wealth management and investment consulting firm for high net worth individuals, today announced it has been named as one of the top five advisers on Reuters' Top Advisers 2008 list.
The list highlights firms in each geographic region of the U.S. based on criteria such as niche client focus (e.g., professions, language, average client net-worth, etc.) and assets under management. Top Advisers are integrated into an online forum designed to connect investors with professionals that best suit their needs.
Kristine Porcaro, COO and Co-founder of Lexington Wealth Management, is highlighted as a Top Adviser for 2008. "It's a great honor to be recognized for the work we're doing with clients, and we see this selection as more exciting validation of our unique approach," said Porcaro. "In good times and under difficult market conditions, we continue to prioritize our clients' portfolio performance, their comfort level with our team, and their trust in our ability to understand and pursue their goals as a true advocate."
About Lexington Wealth Management
Lexington Wealth Management is a boutique fee-only, conflict free investment and financial advisory firm that provides concierge services. Based in Boston and Manhattan, the firm serves clients such as men and women who are entrepreneurs or have wealth in transition. As their clients' advocate, Lexington Wealth Management engages clients in an open dialogue, offers conflict-free advice, and employs forward-thinking investment strategies and specialized services that provide the most effective means to enjoying and preserving their wealth.
http://www.lexingtonwealth.com/
Lexington Wealth Management, a leading wealth management and investment consulting firm for high net worth individuals, was recognized by Reuters as a leading adviser in the New England region.
Lexington, MA (PRWEB) April 2, 2008
Lexington Wealth Management, a leading wealth management and investment consulting firm for high net worth individuals, today announced it has been named as one of the top five advisers on Reuters' Top Advisers 2008 list.
The list highlights firms in each geographic region of the U.S. based on criteria such as niche client focus (e.g., professions, language, average client net-worth, etc.) and assets under management. Top Advisers are integrated into an online forum designed to connect investors with professionals that best suit their needs.
Kristine Porcaro, COO and Co-founder of Lexington Wealth Management, is highlighted as a Top Adviser for 2008. "It's a great honor to be recognized for the work we're doing with clients, and we see this selection as more exciting validation of our unique approach," said Porcaro. "In good times and under difficult market conditions, we continue to prioritize our clients' portfolio performance, their comfort level with our team, and their trust in our ability to understand and pursue their goals as a true advocate."
About Lexington Wealth Management
Lexington Wealth Management is a boutique fee-only, conflict free investment and financial advisory firm that provides concierge services. Based in Boston and Manhattan, the firm serves clients such as men and women who are entrepreneurs or have wealth in transition. As their clients' advocate, Lexington Wealth Management engages clients in an open dialogue, offers conflict-free advice, and employs forward-thinking investment strategies and specialized services that provide the most effective means to enjoying and preserving their wealth.
http://www.lexingtonwealth.com/
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