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Mets close to selling stake
By Mark J. Miller

The New York Mets may be having a not exactly stellar season on the field, where the team has gone 13-18 so far, but some off-the-field financial relief at least appears to be close to happening.
The New York Post reports that "controversial hedge-fund titan Steve Cohen is very close" to becoming a minority owner of the team. Cohen and the team's owners were scheduled to meet up Thursday night at Gabriele's Steak House in Greenwich, Conn., to talk over the possible transaction, sources told the Post.
Mets co-owners Fred Wilpon and Saul Katz had four finalists to sort through earlier this week and have settled on Cohen as the next investor in the team, the paper notes.
The Mets are looking for around $200 million from the next investor, the Post reports, which would help offset the team's current financial troubles. The paper points out that the team lost about $60 million last season.
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Steve Cohen's Trades Being Examined By Federal Prosecutors
Katya Wachtel | May 6, 2011, 8:16 AM | 302 | 1
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Trades made in an SAC account that Steve Cohen oversees are being examined by federal prosecutors, according to the WSJ.

The trades -- about which there is little specific information -- were reportedly suggested by former portfolio managers Noah Freeman and Donald Longueuil, who have both admitted to insider trading.
"At issue is trading in a $3 billion stock portfolio personally overseen by Mr. Cohen at SAC Capital Advisors and referred to by the government in the filings as the "Cohen Account" and internally at SAC as "The Big Book,"" the WSJ reported.
Importantly, Cohen and SAC aren't being accused of wrongdoing. Firstly, the filing doesn't indicate if the trades being looked at were based on insider tips, or whether Cohen knew exactly why Freeman and Longueuil had suggested he make them.
"The development surfaced in court filings submitted in connection with a sweeping insider-trading investigation," the WSJ said.
This is the first time that a fund that Cohen oversees has been linked to the sweeping insider trading investigation, but SAC has received two subpoena's as part of the far-reaching probe.


Read more: http://www.businessinsider.com/trades-in-steve-cohen-account-being-investigated-2011-5#ixzz1LaCAvkAh

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
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