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Article: GameStop plans to elect activist investor Cohen as chairman

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GameStop plans to elect activist investor Cohen as chairman

Reuters, 08 April 2021

GameStop Corp, which has been part of a recent Reddit-driven trading frenzy, said on Thursday it intends to elect activist investor Ryan Cohen as chairman, putting him in the driver’s seat as he looks to transform the videogame retailer.

Since Chewy co-founder Cohen joined GameStop’s board in January, he has been pushing towards transformation of the brick-and-mortar retailer into an e-commerce firm that can take on big-box retailers such as Target Corp and technology firms such as Microsoft Corp.

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Article: Southridge Capital Management Founder Charged With Fraud Though He May Not Know It Yet

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Southridge Capital Management Founder Charged With Fraud Though He May Not Know It Yet

BESS LEVIN, 10 October 2010

This afternoon, Connecticut regulators accused investment adviser Southridge Capital and its chief executive Stephen Hicks of “preparing false financial statements” that “inflated the assets of five funds from 2004 through 2007 so that they could charge higher fees,” in an alleged scam that netted them an ill-gotten $26 million.

Additionally, many investors have apparently put in redemption requests as far back as 2001, though none of them have seen a dime. Attorney General said the firm told “lucrative lies” which hurt not only its clients “but also the entire economy.” How is Hicks taking the news? Is he ashamed and/or embarrassed? Is he defiantly calling the charges bogus, telling family and friends he’ll fight them? Is he proud of what he’s done and the alliterative prose he inspired in Blumenthal? Or does have no idea he’s been accused of anything, having only seen a bunch of missed calls on his phone?

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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?