Latest Private equity management News

Olympia Sports is closing its remaining 35 stores

Aug. 05, 2022 13:15 PM EDT

PORTLAND, Maine (AP) — A Maine-based sporting goods chain that once had more than 200 stores on the East Coast is shuttering its remaining 35 stores. The company confirmed the stores would close by the end of September and that liquidation sales had begun at all locations. ...

Editorial Roundup: Michigan

Aug. 01, 2022 07:14 AM EDT

Traverse City Record-Eagle. July 31, 2022. Editorial: Weak state laws on mobile homes need fixed Michigan has more than 1,200 mobile home parks, with at least a dozen of them in the Traverse City area. Amid the array of housing choices in the region,...

Rents spike as big-pocketed investors buy mobile home parks

Jul. 25, 2022 19:30 PM EDT

LOCKPORT, N.Y. (AP) — For as long as anyone can remember, rent increases rarely happened at Ridgeview Homes, a family-owned mobile home park in upstate New York. That changed in 2018 when corporate owners took over the 65-year-old park located amid farmland and down the road from...

Fed ethics inquiry clears Powell and Clarida trades

Jul. 14, 2022 17:25 PM EDT

WASHINGTON (AP) — The Federal Reserve's inspector general concluded Thursday that financial trades made several years ago by Chair Jerome Powell and Richard Clarida, then the vice chair, did not violate any laws or ethics rules. “We did not find evidence to substantiate the...

State lotteries transfer wealth out of needy communities

Jul. 11, 2022 18:38 PM EDT

WARREN, Mich. (AP) — While the growing expansion of casinos and state-sanctioned sports betting steal the spotlight, state lotteries have nearly doubled in size over the past two decades, driving a multibillion-dollar wealth transfer from low-income U.S. communities to powerful multinational...

Vatican closes London property sale at a loss after scandal

Jul. 01, 2022 09:35 AM EDT

ROME (AP) — The Vatican said Friday it had finalized the sale of a London property that is the focus of a criminal trial in the Vatican courts, offloading the former Harrods warehouse for 186 million pounds (215 million euros, US$223 million). The Vatican secretariat of state had...

Will money-back guarantee win over wealthy donors?

Jun. 13, 2022 14:28 PM EDT

A glossy book is arriving at the homes and offices of America’s wealthiest individuals. Inside is a charity pitch that aims to raise as much as $6 billion for nonprofits fighting global poverty. The proposition? Donate and get results — or your money back. The...

New Zealand Rugby to sign commercial deal with Silver Lake

Jun. 02, 2022 02:45 AM EDT

WELLINGTON, New Zealand (AP) — New Zealand Rugby has been given approval to sign a ground-breaking deal with California-based private equity firm Silver Lake which will bring a cash windfall but which some observers fear may threaten the “special bond” between New Zealanders and their...

'Twitter philanthropy' reveals chasms in social safety net

May. 19, 2022 09:51 AM EDT

Single father Billy Price was already struggling to make ends meet before someone broke into his Michigan storage unit, stole his identity and ruined his credit. Price filed a police report, and then tweeted about it to Bill Pulte, a multimillionaire who he'd heard uses Twitter to...

Prosecutors: NYC investment adviser blamed in $5B fraud

May. 17, 2022 23:48 PM EDT

NEW YORK (AP) — Bus drivers, subway conductors and religious and charitable organizations nationwide lost over $5 billion when a COVID-induced stock market collapse crushed private investment funds linked to a financial industry giant, exposing a massive fraud, authorities said Tuesday. ...