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smomtazi@rosemontseneca.com
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2013-03-18 14:47:09
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*FISKER* Fisker, like other EV makers, loses its founder<http://www.forbes.com/sites/pikeresearch/2013/03/14/fisker-like-other-ev-makers-loses-its-founder/> ** Forbes 3/14 Henrik Fisker has resigned his post as executive chairman. He follows in the footsteps of Martin Eberhard of Tesla, Kevin Czinger of CODA, and Shai Agassi of Better Place as founder of next-generation automakers who are no longer part of the company they created. China’s Geely won’t make final bid for Fisker stake – sources<http://www.reuters.com/article/2013/03/18/fisker-geely-urgent-idUSB9N0BW00Z20130318> Reuters 3/18 China’s Zhejiang Geely holding Group will drop out of the bidding for a majority stake in troubled U.S. electric car maker Fisker. Initial bids from both Geely and Dongfeng were valued at between $200 and $300 million. Fisker explains leaving Fisker<http://www.autoevolution.com/news/fisker-explains-leaving-fisker-56532.html> Autoevolution 3/18 Henrik Fisker spoke of “major disagreements with Fisker executive management.” *WEATHER* The Weather Channel to air “A Storm Named Winter”<http://press.weather.com/press-releases/media-alert-weather-channel-air-storm-named-winter/> ** Weather 3/14 TWC will air a program that addresses its nomenclature of winter storms. The Weather Company provides a big data solution to Chinese Meteorological Administration <http://press.weather.com/press-releases/datacloud-china/>** Weather 3/12 TWC International announced an expanded relationship with Huafeng Group, a division of the Chinese Meteorological Administration. *BUSCH* SeaWorld water park coming to Chula Vista<http://fox5sandiego.com/2013/03/14/seaworld-water-park-coming-to-chula-vista/#axzz2NdQRwiOg> ** Fox5 3/14 A new SeaWorld water park replacing Knott’s Soak City is debuting in time for summer in Chula Vista. *NTE* *Cowen Securities downgrades Northern Tier Energy LP on Limited Upside<http://www.benzinga.com/analyst-ratings/analyst-color/13/03/3423500/update-cowen-securities-downgrades-northern-tier-energy-> * BenZinga 3/18 Cowen downgraded NTI from Buy to Hold Northern Tier Q4’2012 transcript<http://seekingalpha.com/article/1274541-northern-tier-energy-s-ceo-discusses-q4-2012-results-earnings-call-transcript?source=google_news> Seeking Alpha 3/14 Q4 profit dropped to $84.5mm from $292.7mm. Revenues were higher than expectations, at $1.24bn. *PRIVATE EQUITY* *Oppenheimer Settles S.E.C.’s accusations it misled investors<http://dealbook.nytimes.com/2013/03/11/oppenheimer-settles-s-e-c-s-accusations-it-misled-investors/> * NYT 3/11 Oppenheimer & Company will pay nearly $3mm to settle accusations by federal and state regulators that it misled investors about the performance of one of its PE funds. *Carlyle’s founders get $57.6mm each in 2012<http://www.reuters.com/article/2013/03/15/carlyle-founders-idUSL1N0C700I20130315> * Reuters 3/14 The founders of Carlyle Group LP received $57.6mm each in dividends from their stake in the private equity firm and executive pay in 2012, a regulatory filing showed on Thursday, down from $137.8mm in 2011. Squeezing out cash long after the I.P.O<http://dealbook.nytimes.com/2013/03/13/private-equity-squeezes-out-cash-long-after-its-exit/> NYT 3/13 An exploration of the Income tax receivable agreement strategy, recently employed in dozens of offerings. *Private Equity must face Club-Deal suit, judge rules<http://blogs.wsj.com/privateequity/2013/03/13/private-equity-must-face-club-deal-suit-judge-rules/> * WSJ 3/13 A federal judge in Massachusetts wrote in essence there was sufficient evidence to keep the case alive. He wrote that the existence of partnerships for deals was “just as consistent, if not more consistent, with a widely-accepted and independent business strategy, as it is with a vast price-fixing conspiracy.” After 2011 boom, Latin American markets still beckon global investors<http://blogs.wsj.com/privateequity/2013/03/13/preqin-after-2011-boom-latin-american-markets-still-beckon-global-investors/> WSJ 3/13 PE commitments to Latin America peaked in 2011, but investors remain bullish according to Preqin. As stocks climb, more PE firms are cashing out<http://blogs.wsj.com/privateequity/2013/03/08/as-stocks-climb-more-pe-firms-are-cashing-out/> WSJ 3/8 With the Dow trading at all-time highs my PE firms are cashing out of their publicly-traded portfolio companies through secondary stock offering
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