Undoubtably London Evening Standard will be issuing an apology soon, Bacons lawyers, and Louis Bacon, hardly believe in Free Speech, if it carries any negative message, but this was interesting, something we have been on for months now…. NIMBY … yes business is business, but!!!! how much more “business” does Bacon really need?
How hedge funds work… London-based hedge fund operator Louis Bacon is “an avid supporter of non-profit environmental organisations”, according to his Wikipedia entry.
The billionaire (net worth $1.7 billion according to the 2011 Forbes rich list) owns a 171,400-acre ranch in Colorado for which he paid the Forbes family – owners of the magazine which churns out that same rich list – a whopping $175 million, a record for a personal purchase of real estate in the US. Given his tree-hugging proclivities it was therefore natural that Bacon should be a vigorous opponent of Xcel Energy’s plan to build a transmission line which would cross his ranch, and Bacon has been at the forefront of attempts to stymie the development. However, wearing a different hat, his hedge fund owns some $56 million in stock in… Xcel.”
Business is business.