Alternative Market Briefing

North America – New York hedge fund managers consider leaving New York, Update: New York hedge-fund manager tax plan to raise $50m is overturned, TrimTabs’ CEO sees collapse ahead (video), Future of the Fed (video)

Wednesday, August 04, 2010

New York hedge fund managers consider leaving New York From Forexlive.com: … Last week, New York State Assembly Speaker Sheldon Silver told The Post “there’s a good chance” that the tax won’t be included in the final budget deal when it’s wrapped up in the next few weeks. Also, Mayor Bloomberg, who opposes the tax, privately called some key hedge-funders asking them to stay in New York.

However, hedge fund managers are not convinced. Their continuing reason for leaving New York is that there is still a threat from the New York legislature to enforce a tax until the budget has been approved and its removal from Albany’s budget plan is contingent on reaching other compromises. In addition, there is no basis to conclude that the New York State legislature will not reintroduce the proposal next year. … Full article: Source

Update: New York hedge-fund manager tax plan to raise $50m is overturned From Bloomberg.com: New York lawmakers unanimously repealed a measure to raise $50 million a year by taxing hedge- fund managers who commute into the state, Governor David Paterson said. … Full article: Source

See yesterday’s related article: NY funders wined and dined by Connecticut g......................

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