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Write-Offs: 09.19.14

$$$ This Man’s Job: Make Bill Gates Richer [WSJ]

$$$ Retail investors rush to buy Alibaba IPO [Reuters]

$$$ Goldman admits cultivating ties with Libya fund [FT]

$$$ Man Pleads Guilty to Passing Tips in ‘Post-it’ Insider Trading Ring [Dealbook]

$$$ Son of Minnesota Vikings Part-Owner Says He Wasn’t Legally Married to His Wife [WSJ]

$$$ Kim Jong-un loves cheese so much he’s ballooned in size and walks with limp [Mirror] Read more »

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One employee, who spoke on the condition of anonymity because he was not authorized to speak for the company, said that employees at the campus were generally calm. “It’s not too different from normal,” said the person, who has worked for seven years for Alibaba and is a senior information technology engineer. “It’s not as important as the outside world has made it, and we are super busy, like always,” he said, adding that light rain in Hangzhou was dampening the mood as well. Another employee in the company’s branding department, Zhao Xiuzhi, said the mood was generally happy, but not overly ecstatic. “Today we feel quite happy,” she said. “Everyone is wearing the same T-shirt, which gives a feeling of having accomplished something together.” She added: “Plus, tomorrow’s a Saturday, so I feel relaxed.” [Dealbook]

Steve Cohen Is Looking For A New Right Hand

The incredibly-named Chandler Bocklage, last seen shilling for Steve at that Martoma guy’s trial, has moved on. As have six other Point72ers. Read more »

WestEnd Capital Management’s Sean Cooper allegedly took a few hundred thousand dollars more than he was entitled to. Guess where half of it went? Read more »

The former chief counsel of the U.S. Treasury Office of Foreign Control Assets is leaving his lucrative white-shoe law-firm job for the (presumably even more lucrative) job leading BNP’s shiny new U.S.-based compliance operation. Read more »

Argentine President Cristina Kirchner and Pope Francis were once neighbors, but the two have had their differences. Like the time she said his opposition to adoption by gay people made him sound like someone out of “medieval times and the Inquisition.” Or when her late husband and predecessor called the former Jorge Cardinal Bergoglio “the true representative of the opposition.”

Still, she’s hoping His Holiness will help his native land out of its little “we-don’t-want-to-pay-our-bills” jam. He’s a champion of the poor, Argentina is a self-proclaimed (and self-impoverished?) poor country. Maybe he’d make a few calls? Exercise his newfound influence with Washington? Put in a good word with the big guy? Read more »

Over the last several years, Bank of America has paid something like $827 billion in fines and settlements, including $16.65 billion just last month. So while another billion here or there would represent but a drop in the bucket, you can sort of understand why Moynihan et al would be done, emotionally, cutting these checks and why they would try and get out of whatever penalties they can, however thin the arguments for doing so (“Just put us out of our misery already”) may be. Unfortunately, today is apparently not Moynihan’s day and tomorrow’s not looking very good either. Read more »

  • 19 Sep 2014 at 12:43 PM

Call The (Alibaba) Close (UPDATE)

UPDATE: And the winner is “Oracle PR” with a guess of $93.82. Get in touch to claim your prize!

Standard Price is Right rules, closest without going over. Guesses in by 3:50PM. Winner gets his/her choice of a Dealbreaker banker bag or DVD of Forrest Gump, which is apparently Jack Ma’s favorite movie. Read more »