John Hess Saves Face In Last-Minute Truce With Elliott Management

In a flurry of horsetrading just hours ahead of what was expected to be a rancorous annual meeting, John Hess, CEO of Hess Corp., cut a deal with dissident shareholders from Elliott Management. With it, Hess was able to save face in front of his shareholders today, even though with this, and the other concessions he's made recently, his world has been turned upside down.