Eileen Lavigne Flug was sworn in tonight as president of the Westport Sunrise Rotary Club for the 2018-19 year. The changeover party at the Greens Farms home of June Getraer included passing of the gavel from outgoing president Ron Holtz. (CLICK TO ENLARGE) Contributed photo
Westport’s Bridgewater Associates, the world’s largest hedge fund, is about to change into a new partnership model, The New York Times said today.
The Bridgewater Associates Glendinning Place complex. (CLICK TO ENLARGE) Bridgewater Associates photo
It has long been tightly controlled by its founder, Ray Dalio, and his top two lieutenants.
The new partnership model, which was announced to employees and clients on Thursday, is the latest step in a plan for Dalio, 68, to play less of a day-to-day role managing the company over the next decade, the Times said.
“This will both broaden the ownership across the firm and help us remain employee controlled for generations to come,” Bridgewater’s co-chief executives, David McCormick and Eileen Murray, wrote in a letter to clients.
The Westport Police Department today issued a traffic advisory for the annual Police Athletic League (PAL) fireworks display set for Monday, with a rain date of Tuesday, at Compo Beach.
Traffic was bumper to bumper on Compo Road South en route to last year’s fireworks display. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com
Heavy vehicular and pedestrian traffic is expected south of Greens Farms Road between South Compo Road and Hillspoint Road. Spectators are advised to arrive early “as traffic delays are inevitable,” the announcement said.
The beach typically swells to about 10,000 persons during the annual event. PAL is selling 2,000 vehicle tickets, each for $35 at the Police Department and the Parks and Recreation Department. A PAL spokesman said today “only a few hundred are left.”
Motorists already at the beach will not avoid traffic, as Parks and Recreation staff will ask drivers to leave at 4 p.m., with the beach expected to reopen to ticket holders by 5 p.m.
A truck struck the railroad overpass on Saugatuck Avenue near the Westport Metro-North train station during the morning rush hour today. The impact damaged the upper left section of the truck belonging to a Bloomfield-based company, SpaceFitters, a technology and logistics organization. No injuries were reported for the driver or the other two cabin passengers. Metropolitan Transit Authority (MTA) police were called to the scene. The overpass has been the site of numerous impact accidents over the years when vehicle drivers do not observe the posted height limitation warning. (CLICK TO ENLARGE) Dave Matlow for WestportNow.com