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UPDATE: Wilkie, longtime head of Sid Richardson Foundation, dies at 91

Valleau Wilkie Jr., who headed the Sid W. Richardson Foundation from 1973 to 2011, died Tuesday in Sunapee, N.H., at 91.

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Oil plunge sparks concern of real estate slowdown in U.S. energy centers including Texas

SEATTLE — The drop in oil prices to five-year lows, while helping consumers, is sparking concern that leasing and construction demand will be hurt in some of North America's best-performing markets for commercial real estate.

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Texan among those honored as Carnegie Heroes

Winners of Carnegie Hero medals announced Monday:

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As oil prices plunge, Texas eyes are on new comptroller

In January of 1983, just one month after Billy Hamilton stepped into his position as Texas’ chief revenue estimator, the state was wading in a flood of red ink that no one had seen coming. Plummeting oil prices had pushed state tax collections $100 million below the previous

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Study: Texas children living with relatives often don't receive state support

About 253,000 Texas children live with family members who are not their parents and many of those are not receiving state and federal benefits, according to a report released last week.

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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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Did the College Football Playoff Committee get it right?