Bookkeeping: Closing Last of Greenhill & Co (GHL)

We don't have much left of Greenhill & Co (GHL), a smaller boutique type of investment firm - only about a 0.25% exposure. I am going to boot the last piece a few dollars higher than our cost basis and call it a day here (cost was just over $74). I like the company but today the stock is down 6% as management dumped 3M shares on us. This money was not for any operations, it simply was a way for executives to exit and dilute shareholders. Par for the course for American capitalism but no need to take the shower on it as a shareholder.

• Investment bank Greenhill & Co. said Thursday it priced a stock offering of 3 million common shares at $76 per share.
• The offering consists of shares now owned by managing directors and senior advisers of New York-based Greenhill. Greenhill will not receive any proceeds from the sale.
• The offer price is a 5.1 percent discount from Wednesday's closing price of $80.09.

• Boutique investment bank Greenhill & Co Inc (GHL) posted a sharply lower second-quarter profit, hurt by a 85 percent slump in merchant banking and other revenue, and completion of fewer large deals.
  
• The company earned $10.3 million, or 35 cents per share for the period, compared with $28.9 million, or $1.04 per share, a year ago.
  
• Quarterly revenue at the company, which specializes in deal-advisory work, more than halved to $54.1 million.
• The investment bank has been aggressively hiring the cream of global banking talent as the financial crisis and regulation force large institutions to cut staff and limit pay.