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...Instead, Fraser is shooting for more modest goals in an attempt to get Citi back on track, the FT’s Imani Moise and Stephen Morris report....
...Limited-profit housing associations also provide co-operative dwelling units whose rents the city subsidises, as Eugen Antalovsky and Jana Löw, two specialists on urban innovation, point out....
...The punchline of the skit was that the private equity behemoth’s billionaire founder, Stephen Schwarzman, can dunk....
...Stephen Foley will be responding periodically throughout the day. Stephen is reading . . . Keeping At It, by Paul Volcker....
...The stake, announced in a regulatory filing, also contains the news that Jana has not come alone to this fight....
...The first three have agreed to join the Whole Foods board, if the company agrees or if Jana ends up prevailing in a shareholder vote; the other two have been hired by Jana as consultants....
...Despite high-profile windfalls like Jana's campaign against Whole Foods, activists returned about 3.7 per cent last year, according to data provider Hedge Fund Research....
...Stephen Foley is the FT’s US investment correspondent...
...stephen.foley@ft.com...
...Barry Rosenstein, Jana’s founder, praised the “bold steps” Qualcomm was taking....
...A week ago, Jana Partners won board seats at Qualcomm, the smartphone chipmaker, and also persuaded that company to launch a strategy review....
...Jana applauded the buyback as a “great start”, though it also argued that the cash return should be accelerated....
...Leon Cooperman tipped stocks including Citigroup and General Motors, while Jana Partners founder Barry Rosenstein widened his criticism of strategy at Qualcomm, where he has a $2bn stake....
...Jana Partners says it received a package in the mail from an anonymous tipster, containing a management presentation and a cover letter warning that Petsmart had “missed internal targets” and was planning...
...Petsmart shares closed up a further 2.5 per cent, on top of a 12.5 per cent gain on Thursday after Jana declared its interest....
...Air Products used the tactic to limit stakebuilding by Bill Ackman last year, and US grocery chain Safeway used it against Jana Partners....
...SRZ’s clients in the US include several of the highest-profile activist managers, such as Barry Rosenstein’s Jana Partners, Paul Singer’s Elliott Management and Trian Partners, led by Nelson Peltz....
...Advances in neuroscience have contributed new ideas to this form of bio-mimicry, says Jana Eggers, president of Nara Logics....
...“The first wave of attacks on activism focused on convincing shareholders that active shareholder engagement was somehow bad for them,” says Barry Rosenstein of Jana Partners, which has taken on managements...
...Both plans proved controversial: Jana’s nominees lost; Elliott withdrew the scheme. “Our only real constituency is shareholders,” said Charles Penner, partner at Jana....
...Safeway, the grocery chain, agreed to Jana’s suggestion that it jettison underperforming stores, for example, and QEP Resources, an oil and gas explorer, acceded to demands to split itself in two....
...Even its move on Juniper – which sent shares rallying 8.6 per cent and has since been backed by rival activist fund Jana – has been questioned as being merely an amplification of the changes the company...
...Arden Asset Management was the first “fund of funds” to pull serious hedge fund managers into its retail alternative mutual fund, including York Capital Management, Jana Partners and, recently, DE Shaw....
...is a touring exhibition of contemporary French jewellery, where you can see Amandine Meunier’s necklaces from cut inner tube and rope, Maud Traon’s deviant rings made of plastic and modelling clay and Jana...
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