09:21 AM
RailAmerica's (RA) IPO of 11.5M shares priced at $15, shy of the target range of $16-18. Parent Fortress Investment Group LLC (FIG) still owns 55.8% of RailAmerica. Shares will return to the NYSE this morning following a two-year absence after being taken private by Fortress in Feb. 2007.
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07:17 AMFortress Investment (FIG): Q2 EPS of -$0.41 vs. consensus $0.07 (may not be comparable). Revenue of $117M (-29%) vs. $108M. Daniel Mudd becomes CEO effective August 11, 2009. (PR)
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16:47 PM
Fortress Investment Group (FIG -3.9%) has reportedly tapped ex-Fannie Mae chief Daniel Mudd to be CEO, to replace co-founder and top stockholder Wesley Edens. Mudd was forced out of Fannie during the government's fall takeover.
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Tuesday, July 14, 2009
07:38 AM
Fortress Investment (FIG) is in talks with lenders to refinance a key $1.6B loan but, strangely, is also one of the lenders. Fortress, which must refinance by July 27, is taking a backseat in lenders' negotiations so as to speed the process and limit potential conflicts.
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Friday, June 26, 2009
09:57 AM
Will Fortress Investment Group (FIG), which owns a 50% stake in the Sony/ATV music catalog that controls Michael Jackson's music, see a spike in the value of its investment? More on the after-death sales jump.
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