A joint effort by NYT's Michael Schmidt, Alexandra Stevenson, and Eric Lipton reveals how an activist hedge fund manager bet a billion dollars on the collapse of Herbalife, then lobbied to bring it down. "How many lobbyists does it take for a hedge fund manager to change a lightbulb?" BusinessWeek's Sheelah Kolhatkar quipped.
In other business news, the Wall Street Journal reports that Ireland's Fyffes PLC and Chiquita Brands have struck in $1.07 billion merger deal. "You gotta love stories about Banana giants" WSJ bureau chief John Stoll remarked. "Makes me hungry and curious at same time."
And on the other end of the spectrum, Reuters announces the pizza chain Sbarro has filed for bankruptcy protection. Philadelphia Magazine's Dan McQuade observed, "It is a rough day for Michael Scott’s favorite New York pizza joint."