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Ice cancels flights, snarls traffic; snow in North Texas forecast

DALLAS (AP) — More wintry weather was expected across parts of North Texas through Wednesday.

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Riverside: Developer sees revitalization with apartments, townhomes driving commercial projects

A Dallas developer is seeking to rezone more than 18 acres in Fort Worth’s Riverside area overlooking Oakhurst Scenic Drive, the Trinity River and downtown, with plans to build as many as 400 apartments and townhomes aimed at renters who want to live in or near the central city. D

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Einstein Bagels closing two Tarrant locations

Einstein Bagels is closing two Tarrant County locations, part of a series of 39 closings around the country, according to the company’s owners, JAB Holding Co.

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Berkshire Hathaway company acquires Fort Worth firm

M&M Manufacturing, a producer of sheet metal products for the air distribution and ventilation market based in Fort Worth, has been acquired by MiTek Industries Inc., a subsidiary of Warren Buffett’s Berkshire Hathaway Inc.,

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Plans for Grand Prairie indoor ski resort, Hard Rock Hotel evaporate

Plans for a $215 million indoor ski resort and Hard Rock Hotel in Grand Prairie have been shelved. Sherman Thurston, a member of the development team, sent a

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Top 25 hedge managers make $14.14 billion in slow year

NEW YORK (CNNMoney) -- Last year was a tough one for hedge funds, but the 25 top-earning hedge fund managers still managed to pull in a combined $14.14 billion in 2012, according to an Institutional Investor magazine ranking.

The 12th annual "rich list" placed David Tepper, founder of the New Jersey-based Appaloosa Management, atop its ranking. Institutional Investor said he made $2.2 billion in 2012.

Three others earned more than $1 billion apiece: Bridgewater Associates' Raymond Dalio with $1.7 billion, SAC Capital Advisors' Steven Cohen with $1.4 billion and Renaissance Technologies' James Simons with $1.1 billion.

The rankings are based on combined earnings from performance fees and management fees. All managers on the list earned at least $200 million, up from a minimum of $100 million from a year earlier.

It may seem striking that managers took home such hefty paychecks, considering that the average hedge fund returned just 6.2% in 2012, according to Hedge Fund Research, in a year when the S&P 500 gained 13%.

But while the payout numbers are high, the combined $14.14 billion earned by the ranked managers is the lowest sum since 2008. Last year's number was down just slightly from 2011.

There was only one new kid on the block on this year's list: Discovery Capital Management's Robert Citrone made it into the rankings for the first time.

Several of 2011's top earners disappeared from this year's list, including Carl Icahn, after he returned his investors' money in 2011 and only invested with his fund's own capital.

 

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