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Chobani Is Not Paying TPG for Partner's Work

Image Kevin Burns is not being paid to serve as interim COO of the challenged yogurt-maker. Last week, The New York Times reported that investors with private equity firm TPG Capital were “paying twice” for work being done by TPG partner Kevin Burns, who also is serving as the interim COO of yogurt maker Chobani (in which TPG invested last year). The paper basically alleged that Burns was being paid his regular TPG salary, derived from annual management fees paid by limited partners in TPG funds, while TPG also was receiving from Chobani a “a separate fee based on the partner’s work on the particular investment.” And, rather than sharing this separate fees with its limited partners, TPG had used a shadowy internal “recovery” group to keep most of the money in-house.

GAO Denies Sierra Nevada's Legal Challenge to NASA Space Contract

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Dream Chaser.
NASA acted properly in awarding $6.8 billion to the Boeing Co. and SpaceX for a new generation of commercial space vans to ferry astronauts to and from the International Space Station, the Government Accountability Office ruled Monday. The GAO rejected a challenge to last September's award that was filed by Sierra Nevada Corp., a spaceship-builder

Chobani Says Press Reports of Turmoil Aren?t True

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Hamdi Ulukaya at Nasdaq.
Chobani says reports by the New York Post of turmoil at the Greek yogurt company, based on allegations from unnamed sources, are false and rresponsible. Reports by the New York Post this week of turmoil at Greek yogurt maker Chobani and the alleged ousting of Chobani founder and CEO Hamdi Ulukaya as chairman of the board are absolutely untrue, according to a Chobani spokesman.

Maxim Integrated Products CEO Tunc Doluca Sells 6,000 Shares (MXIM)

Image Maxim Integrated Products (NASDAQ:MXIM) CEO Tunc Doluca sold 6,000 shares of the company’s stock on the open market in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $33.13, for a total value of $198,780.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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