The Money Times – While the group of Indiana pension funds, holding $42 million debt in Chrysler, opposed the treatment meted out to them in the form of reorganization process with Fiat, the court denied hearing to the pension funds and upheld the decision of Chrysler- Fiat alliance.

While refusing the hearing to the pension funds, the Supreme Court issued a statement saying that the aggrieved parties must convince four out of nine judges that the matter is serious to warrants full appeal.

Indiana Treasurer Richard Mourdock, who led the cause of the pension funds, said that he was disappointed. “The United States government has, I continue to believe, acted egregiously by taking away the traditional rights held by secured creditors.”

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Tags: chrysler, fiat, money, pension-funds, reorganization, richard mourdock, secured creditors, statement-saying-that, supreme court, united states government, warrants

West Palm Beach (HedgeCo.net) – Trilibis Mobile announced today that it has raised $5.7 million in Series B financing.

Alternative Investor Altos Ventures led the round with participation from ATA Ventures and several early individual investors. Ho Nam, General Partner and Co-Founder of Altos Ventures, has joined the board of Trilibis Mobile. Mike Hodges, Managing Director of ATA Ventures, has joined as a board observer.

"Trilibis has done a great job of establishing relationships with Tier 1 carriers and proving out the SmartPath platform with key content partners," said Ho Nam of Altos Ventures. "With this capital infusion, we look forward to working with the Trilibis team to continue to take market share and grow the business."

The newly raised capital will be used to fund development of the next generation of SmartPath to include support for native applications for BlackBerry, iPhone, Windows Mobile and Android devices. Additionally, Trilibis will devote some of the capital to boost its marketing and sales efforts.

"The tremendous increase in consumer adoption of smart phones has fueled the growth in mobile data services usage," said Alex Panelli, CEO of Trilibis. "Our objective is to capitalize on this emerging trend."

With this funding, Trilibis has raised a total of $8.3 million since inception.

Altos Ventures is a first-stage venture capital firm focused on leading investments in emerging technology companies with the goal of building market leaders. Altos manages $200 million in dedicated first-stage capital on behalf of leading endowment, fund-of-funds, financial and family office investors based in the United States and Asia.

Alex Akesson

Editor for HedgeCo.Net
Email: alex@hedgeco.net

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Tags: advisory-services, boston, due-diligence-service, enterprise-investment-scheme, investment-partner, relative-value, statement-saying-that, university-endowment, washington-mutual-inc

Wall Street & Technology – Now that Apple has improved security and enterprise connectivity capabilities for the iPhone 3G, industry specific applications are starting to emerge. One of the first iPhone applications for the securities industry is a tool that provides real-time portfolio management called Lab49 Capital from Lab49, Inc. a technology consulting firm that builds solutions for the financial services.

The application helps buy-side portfolio managers track the performance of their assets in real time, and "slice and dice" positions, P&L and changes in the portfolio across multiple dimensions such as strategy, industry, country and manager, according to Marc Jacobs, director at Lab49. (See a Lab49 Capital ScreenCast demo.)

"For a portfolio manager, they don’t spend all of their time at their desks," Jacobs adds. "But their mind is always ‘where are we right now?’ Allowing portfolio managers to such visibility into their fund is a key aspect that this application provides. Lab49 Capital is inspired by several projects we have going on with a number of firms. Lab49 Capital is a representation of actual work we are doing with some of our clients."

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Tags: capabilities, demo, desks, director-research, industry-group, journalism, lab49, losses, macdonald, marc-jacobs, monsoon, newcastle, portfolio-management, securities-industry, statement-saying-that, technology-consulting-firm, tracking-error, visibility, volatility