Hurricanes Create a Wave of Issues
October 1, 2005Hurricanes Katrina and Rita swirled out of the tropics to devastate the Gulf Coast, but the greatest damage from those storms could come from unwise choices in their aftermath. Rita, which struck Texas and Louisiana, and Katrina, on the coasts of Mississippi and Alabama, could be called “normal” hurricanes, extraordinary in power but typical in effect: Buildings battered by wind and scoured by storm surge; boats pushed into treetops; victims …
Do Your Hedge Funds Homework
October 1, 2005Investors in Bayou Management LLC’s hedge funds watched helplessly this summer as the funds collapsed because of fraud. Federal prosecutors referred to the money remaining in Bayou’s now-frozen accounts as “the proceeds of criminal activity.” What could Bayou’s investors have done to avoid this disaster? Unfortunately, it is impossible to eliminate the risk of investing in a hedge fund that engages in fraud. The hedge fund industry comprises thousands of …
Hearn Oversees New Office In South Florida
October 1, 2005Shomari Hearn has been named client service manager for Palisades Hudson Financial Group LLC’s new South Florida office, which opened this month in downtown Fort Lauderdale. Shomari will serve the firm’s growing Florida clientele along with PHFG President Larry M. Elkin, who will divide his time between the Scarsdale and Fort Lauderdale offices, and client service associate Paul Jacobs, who is scheduled to transfer from Scarsdale to Florida in mid-2006. …
PHCP To Target Long-Term Hurricane Recovery
October 1, 2005For the second time this year, Palisades Hudson Charitable Portfolio, Inc., is accepting donations to fund longterm recovery efforts for victims of major natural disasters. PHCP disbursed $4,400 this summer to the Agency for India’s Development (AID) to purchase a new fishing boat for villagers in Tamil Nadu, whose livelihood was wiped out by December’s Asian tsunami. PHCP’s objective was to provide a tangible benefit that would make a significant …
A Camp Where Sick Children And Their Families Shine
October 1, 2005Among the most frightening things a parent can possibly hear is “Your child has leukemia.” Believe me, I know — because on Aug. 26, 2004, my wife, Maureen, and I heard those words from our 3-year-old son Conor’s doctor. Recovering from this gut-punch, we kicked into fighting mode: “He will beat this!” But soon, demands on sleep, work, family free time and other areas began to wear on everyone, especially …
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