Team Hedge Fund

Archive for July, 2009

Hedge fund founder J. Winder Hughes, III, has joined wastewater treatment and power generation technology company, ThermoEnergy Corporation, on the Company’s Board of Directors.

Hughes is the Managing Director of the private equity firm of Hughes Capital Investors, LLC. In 2000, Hughes formed the Focus Fund, LP, a Florida-based, highly concentrated equity partnership that focuses on publicly-traded emerging growth companies. Over the past two years, the Focus Fund has become one of the largest investors in ThermoEnergy Corporation.

“We are extremely pleased that Mr. Hughes accepted our invitation to join the board of ThermoEnergy Corporation,” said Dennis C. Cossey, ThermoEnergy’s Chairman and CEO. “With his extensive background in corporate finance and investment banking, Mr. Hughes represents a tremendous resource on which the ThermoEnergy management team can rely on.”

“Given that the Company is on the cusp of commercial prosperity with its wastewater treatment business and at the forefront of achieving value-creating milestones with its Babcock-Thermo Carbon Capture joint venture,” said Mr. Hughes, “I look forward to working with the management team to strengthen the company’s financial stability and improve business performance for the benefit of all its stakeholders.”

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“With $1 billion already wasted Lawmakers Vote on $2 Billion More to Replenish ‘Clunkers’ Program.”
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” The practice of securitizing mortgages, while freeing up capital for more loans, is not the financing answer for Federal Home Loan Banks (FHLBs) financing, according to reports out of the Federal Housing Finance Administration (FHFA).”
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Dallas-based Capstead Mortgage Corporation (CMO: 13.38 +0.90%) earned $42.5m in Q209 ($.058 per share) on mortgage-related securities, a slight improvement from Q109’s earnings of just over $42m.

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“The dozens of insurance companies that make up the American International Group show signs of considerable weakness even after their corporate parent got the biggest bailout in history, a review of state regulatory filings shows.”
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“Switzerland and the United States reached an agreement in principle on Friday to settle out of court a closely watched case that seeks to force the Swiss banking giant UBS to turn over the names of wealthy American clients suspected of tax evasion, a lawyer for the government said.”
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“The White House this week ridiculed Newsweek Magazine’s cover that declared “The Recession is Over,” but the Federal Reserve reported Wednesday that, if the recession isn’t over, it’s getting close.
Read more: http://www.consumeraffairs.com/news04/2009/07/fed_recession.html#ixzz0MoKFZqjn”
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” NY Attorney General Andrew Cuomo released his report on bonuses at the TARP Top 9. At these firms alone, over 800 people made north of $3 million in 2008. That’s a lot of scharole. See Appendix B for the bonus breakdown at each bank.”
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“Pension plans in general are in deep trouble. The state of Oregon is the latest on the long, growing list of pension concerns.”
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““But these borrowers also accumulate principal faster than they would have with a higher-rate loan even after taking into account the longer terms of the new loans. In aggregate, second-quarter refinancers will have about $200 million additional principal paydown after a year than they would have under their old loans.””
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