West Palm Beach (HedgeCo.net) - NorthPoint Trading Partners, LLC has opened a new office in Chicago, IL., with 12 year industry veteran, Michael Ferro, as head. Ferro has held positions at Genworth Financial, Knight Capital Markets, and X-Change Financial Access. He is experienced in both the trading and operations aspects of the buy and sell side, the company said.

“As we continue to expand our presence nationwide, we are very fortunate to have someone with Michael’s talent and experience join our team,” says Douglas Nelson, Chief Executive Officer of NorthPoint Trading Partners, LLC. Atlanta based NorthPoint opened also opened an office in Connecticut earlier in the year.

NorthPoint is an institutional brokerage and fund services company working with small and medium sized hedge funds.

West Palm Beach (HedgeCo.Net) - While investors may have gotten the short end of the stick, there is one group of people banking from the Bear Stearns takeover. Ebay sellers are enjoying skyrocketing prices on otherwise normal trinkets bearing the Bear Stearns logo.

Items for sale include t-shirts, caps, umbrellas, stuffed animals, even old cafeteria cards, and most of them are going for much more than a share of Bear Stearns stock is worth. Bidders can duke it out, or using the Buy It Now feature, they may purchase a men’s polo shirt for $200. Also up for a bid is a rare portrait of Ace Greenberg, one time CEO of Stearns. The picture has over 40 bidders, and is currently going for $430.

Jo Demonte, who put her husbands old Bear Stearns laptop bag up for action, couldn’t believe the swarm of responses. “In the first few days, we had over 300 people watching the bag,” she explained. “We ended up getting over $90 for it!”

My suggestion? The Bear Stearns suntan lotion keychain. Just take the sellers advice: “Don’t get burned like the Bear Stearns employees did.”

Julie Scuderi
Senior Editor for HedgeCo.Net
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