Xerox plans job cuts, asset sales

Article Abstract:

Xerox Corp announced on Oct 24, 2000 that it plans to make significant job cuts and sell up to $4 billion in assets in hopes of returning back to profitability. The Stanford, CT-based copier giant recorded its first quarterly loss in 16 years when it posted a net loss of $167 million in the third quarter. Assets to be sold include half of the company's 50% stake in Fuji Xerox and its manufacturing and engineering facility in China. Job cuts are expected between 3,000 to 5,000 jobs beyond the 5,100 announced in March.

Photographic and Photocopying Equipment Manufacturing, Strategy & planning, Xerographic Copiers, Xerox Corp., Photocopiers

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Investors learn the hard way about hazards of highflying hedge funds

Article Abstract:

Nidra Capital LP's Richard S Roon faces one year and one day in prison due to mail fraud related to his highflying hedge fund. His fate and that of his investors is indicative of a trend in the fast-growing industry whose reputation has been tarnished by schemes that siphoned hundreds of millions from investors in 1999. The surge was attributed to the rapid expansion of the largely unregulated hedge fund industry and the increased risk-taking by an expanded pool of investors eager to share in the 60%- plus gains produce by top-performing funds. The cases of alleged fraud emphasize the importance of knowing who one is dealing with.

Mutual Fund Mgmt Companies, Portfolio Management, Mutual funds, Nidra Capital L.P.

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Settlement firms slapped with lawsuits

Article Abstract:

The $6-billion-a-year structured-settlement industry is rocked by a series of fraud lawsuits. More than 300 injury victims and their families have filed cases since Jan 2001, charging that Treasury bonds that were supposed to fund nearly $120 million in regular income checks were improperly sold, disrupting the payments. People who have filed lawsuits were supposed to be guaranteed tax-free income through so-called structured settlements.

Direct Life Insurance Carriers, Life Insurance

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