Pirate Capital and its crew see stormy sailing (The Philadelphia Inquirer) - SailNet Community

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Pirate Capital and its crew see stormy sailing (The Philadelphia Inquirer)
by NewsReader 02-05-2007

Tom Hudson and his pirates had a blunt message for Canadian ski-resort owner Intrawest Corp.: "Surrender the Booty." It was March 2006, and Hudson, who runs a hedge-fund firm called Pirate Capital L.L.C., spied treasure at Vancouver-based Intrawest. Its shares were trading at $32, and Hudson owned 5.8 million of them. That made him the company's biggest shareholder and, in his eyes, the boss.

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