Hints and tips:
...Folwell said he has negotiated for lower fees and now votes the state’s holdings in proxy votes rather than letting BlackRock do so....
...State pension funds will then have to notify the comptroller of their holdings, but the law gives them some flexibility on selling out if it affects their fiduciary duty to retirees....
...Bernstein also requested that it be allowed to freely sell the Tesla shares without a mandated holding period — for that concession, it said, it was willing to accept the lower 11 per cent fee....
...In late 2022, after it was placed on a list of financial firms boycotting fossil fuel companies in Texas, BlackRock said it had invested more than $100bn in Texas energy companies, notably ExxonMobil....
...Sodergren said the company has been expanding its investments in semiconductors in the past six or seven years, including a new site in Austin, Texas, and an expanded team in Sweden....
...The bulk of the holdings have compounded high returns to date. The lesson is that valuations matter....
...The Sage of Omaha, Warren Buffett, sold off some of Berkshire Hathaway’s Chevron holdings in 2023 and some analysts have soured on the stock....
...Signa Holding, the central company, recently filed for administration....
...Buffett has lamented some investments he made without Munger’s input, including the purchase of $2bn worth of bonds backing the disastrous buyout of Energy Future Holdings, the Texas utility that eventually...
...Amid New Orleans festivities, rainmakers wonder if the party is over for Delaware Delaware, Inc. may be the enterprise now under the most intense activist threat....
...AEL fired back at Brookfield, calling the Canada-based group a “direct competitor” that could not remain on the board because in 2022 it acquired a Texas-based life insurer, American National, for $5bn....
...J&J hired Jones Day, a Cleveland-based law firm and author of the “Texas two-step”....
...A version of this article was first published by Nikkei Asia on September 29. ©2023 Nikkei Inc. All rights reserved....
...“Without the pressure of trials to focus the minds of executives, companies using these bankruptcy schemes can delay and engage in a breath-holding contest over settlements with claimants, many of whom,...
...Texas funds have negligible holdings in UBS and Credit Suisse....
...A typical case is Texas where, DD’s Mark Vandevelde reports, three PE-backed companies employ physicians that staff about one-quarter of the state’s 384 emergency rooms....
...Bluebell is best known for helping to topple the chief executive at Danone in 2021 despite holding less than €20mn in shares and having total assets of €70mn....
...Yet the US is now holding up the deal after years of negotiations, according to two senior TikTok employees....
...Woke Inc is under attack. Battle lines have been drawn in America’s latest culture war, with Ron DeSantis, Florida’s governor, its general....
...On August 24, the same day that Texas treasurer Glenn Hegar pledged to rid the state’s pension funds of BlackRock shares, he was tweeting about the drought in his state....
...Continental is the largest oil producer in the Bakken shale fields in the US states of North Dakota and Montana and in the past year has expanded into Wyoming and the Permian Basin of Texas and New Mexico...
...BlackRock recently expanded its Voting Choice programme, which allows institutions to vote their holdings on shareholder policy issues....
...In Amazon’s case, its takeover of Whole Foods didn’t violate any federal antitrust laws because the ecommerce giant and the Austin, Texas-founded grocery chain weren’t direct competitors, according to Bruce...
...Tesla was “certainly open to increasing bitcoin holdings in future” and had not sold any of its dogecoin, he added....
...Running out the clock The University of Texas has used its lucrative swath of America’s largest oilfield to build an endowment that rivals Harvard....
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