Ex-brokerage CEO sued over company credit card

Credit Card Chip Nimalan Tharmalingam

Sterne Agee, one of the fastest-growing brokerages in the South, sued its former chief executive officer over claims he took his corporate credit card on a decade-long spending spree for fishing boats, a yacht, a vacation condominium and ownership in a luxury ski chalet.

Big hedge fund pay increases

Hedge Fund

Bloomberg News reports that money managers at hedge-fund firms that oversee more than $4 billion earned about $2.4 million this year, an increase of almost 8 percent, according to an industry survey.