Mason Capital

BALTIMORE, Oct. 22 /PRNewswire-FirstCall/ -- Legg Mason, Inc. (NYSE: LM) today reported its operating results for the second fiscal quarter ended September 30, 2009. The Company reported net income of $45.8 million, or $0.30 per diluted share, as compared to net income of $50.1 million, or $0.35 per diluted share, in the first fiscal quarter of 2010. Included in this quarter's results were transaction costs related to the equity unit exchange of $22 million, which were partially offset by ongoing interest savings from the exchange of $15 million per quarter. Cash income, as adjusted, for the second quarter was $90.0 million, as compared to $86.8 million in the first quarter of fiscal 2010. Assets Under Management ("AUM") were $702.7 billion, up 7% from $656.9 billion at June 30, 2009, driven by market appreciation, partly offset by reduced outflows, and down 17% from $841.9 billion at September 30, 2008. ...

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Mark Belford and John Lindeman Recruited to Co-Head Consumer & Retail Group PHILADELPHIA--(BUSINESS WIRE)-- Janney Montgomery Scott ("Janney"), a leading full-service investment banking and financial services firm headquartered in Philadelphia, is pleased to announce the hiring of Mark H. Belford and B. John Lindeman as Managing Directors and Co-Heads of the Consumer & Retail Investment Banking Group. Working from Janney's New York offices, Mr. Belford will assist in expanding the firm's consumer practice, focusing on retail, apparel and restaurant clients ...

According to reports from the Baltimore Sun, Legg Mason Capital Management is cutting its workforce by one-third, but senior investment managers, like Bill Miller, will keep their jobs. The firm ...

Bill Miller, Chairman and Chief Investment Officer of Legg Mason Capital Management (NYSE: LM), has released the following statement:

"Legg Mason Capital Management, on behalf of its clients, is the beneficial owner of ...