May 2006

  • Goldman Sachs

    I Would Like the Most Blinged Out Eco-Friendly Towncar Available

    We’re told that Goldman’s limo service now consists of hybrid cars, thanks to Hank Paulson’s treehugger-y corporate policies. Said hybrids don’t, as far as we know, look like this: But they are smaller and more cramped. And we’re sure our Goldman pals feel a little silly rolling up to meetings in their eco-mobiles when everyone […]

    / May 11, 2006 at 10:10 AM
  • admin

    Just a Reminder

    The most anti-climactic email we’ve gotten all day (from a National Magazine Awards attendee): The subject line said “Bruce Wasserstein has GIANT…” We clicked. “EARS!!” Thanks, emailer. Also, just a reminder: We’re looking for interns. Ex-Morgan broker trainees are welcome to apply. Send résumés and cover letters to elizabeth AT dealbreaker DOT com.

    / May 11, 2006 at 10:05 AM
  • Planespotting

    Planespotting: The Sequel

    Our planespotter sends an update: So the SAC G-V is safe back home at Teterboro after a brief stop at a regional Boston airport. If you want some gasoline to throw on your speculation about this trip, Janus’ Challenger 604 touched down at Westchester Co. (HPO – just minutes from Greenwich!) on April 30 and […]

    / May 11, 2006 at 10:01 AM
  • James Gorman, Morgan Stanley

    Look To Your Left. One of You Won’t Be Here Next Year.

    James Gorman, head of Global Wealth Management retail at Morgan Stanley, has decided to give the ol’ heave-ho to 500 of its 1,000 broker trainees. Gorman’s explanation: He described those being dismissed as “not tracking toward success” as financial advisers. Which is a nice way of saying they’re incompetent. That or firing 20 people didn’t […]

    / May 11, 2006 at 9:24 AM
  • FOREX, Opening Bell

    Opening Bell: 5.11.06

    Fed Raises Rates Again but Clouds Next Move (NYT) Bartiromo was right; it’s not over. Well, maybe. Nobody really knows, but Bernanke isn’t ready to relinquish his inflation hawk credentials just quite yet. The whole thing is getting to be something of a joke. It’s like traders have to pretend to be upset at rate […]

    / May 11, 2006 at 8:30 AM
  • Fed

    Marking-Up The Fed Statement

    The Fed raised the fed funds rate to 5% this afternoon. QuantLogic helpfully provides a blackline of today’s statement against the statement issued in March. The Federal Open Market Committee decided today to raise its target for the federal funds rate by 25 basis points to 4-3/4>5. The slowing of the growth of real GDP […]

    / May 10, 2006 at 3:01 PM
  • Economics

    Monetary Arbor

    Over at LewRockwell.Com, Aaron Singleton points out that sometimes the conventional economic wisdom is just plain not true. At one time or another we became acquainted with the cliché, “money doesn’t grow on trees”… Now, for most people reading this (except the really ancient ones), this statement was an outright lie…Money does grow on trees, […]

    / May 10, 2006 at 2:18 PM
  • Fed

    Slings and Arrows

    Only a few more minutes until today’s big interest rate announcement. And not a moment to soon. Some folks out there are clearly losing it while waiting around to hear what the Fed says. The Big Picture, for instance, has been rewriting the Hamlet while he waits. To Pause or not to Pause, that is […]

    / May 10, 2006 at 2:10 PM
  • admin

    Wanted: Summer Interns

    We realize that most of you have jobs at financial services companies (68% of you, to be exact) but for the rest of you**: we’re looking for summer editorial interns to do some writing, reporting, research and a few administrative tasks, like parking the G-V and pouring our drinks (we like our scotch neat and […]

    / May 10, 2006 at 1:56 PM
  • News

    Monster Stock?

    Let’s talk about another kind of energy stock for a moment—Hansen Natural Corp (HANS), the California beverage maker responsible for concoctions such as the Monster Energy drink. This morning Hansen’s stock was trading at around $185 and rising, with a P/E ratio of 71.56. That’s right, 71.56. And check out its two-year chart. Is this […]

    / May 10, 2006 at 12:34 PM
  • Fannie Mae

    Too Connected To Fail?

    Today’s Wall Street Journal editoral page asks. “So what happens when a company that hasn’t filed a financial statement in a year and a half announces yesterday yet more accounting problems and puts off reporting any results until sometime in 2007?” The answer? “Its stock goes up 3% and its bonds rally too. At least, […]

    / May 10, 2006 at 12:29 PM
  • banking culture, Goldman Sachs

    “The Most Blinged Out Towncar Available”

    Curbed’s Lockhart Steele just pointed us to the limo porn photo on the left, taken outside of Goldman Sachs. (Click for a larger image.) If you can’t have a private plane, at least you can have a private car. It reminded us of ex-banker Dana Vachon’s (a.k.a., “D-Nasty“) seminal “I Would Like the Most Blinged […]

    / May 10, 2006 at 11:07 AM
  • Planespotting, SAC Capital

    Where In the World Is Stevie Cohen’s G-V?

    A late night update (11:30PM) from yesterday’s planespotter: …Another Gulf-IV arrived (owned by a Banc of America leasing company but not the bank itself – no word on occupants) at Centennial from Teterboro on Tues, 6:59 PM MDT. The G-V registered to SAC stopped at Kansas City (KMCI) for at least the day in the […]

    / May 10, 2006 at 10:39 AM
  • NYMEX

    Those People in Funny Jackets

    We sort of love CNBC, but for all the wrong reasons. The questionable production values (random staffers walking into frames, cheesy unscripted jokes, Chyron screw-ups, Maria Bartiromo glaring at people off-camera, etc.), Jim Cramer, and the need to have 30 different people asked where they think the price of oil is going on a daily […]

    / May 10, 2006 at 10:19 AM
  • Eddie Lampert

    Blame Canada Eddie Lampert

    Sears Holdings is attempting to take Sears Canada private at $18/share but some minority shareholders (Hawkeye Capital Management LLC, Knott Partners Management LLC and Pershing Square Capital Management LP, among others) are dissenting. (Pershing thinks it’s worth $41.21- $46.67.) But most vocal is the company’s ex-chairman and CEO, Richard Sharpe, who takes particular aim at […]

    / May 10, 2006 at 9:26 AM
  • Opening Bell

    Opening Bell: 5.10.06

    Executives Take Company Planes as if Their Own (NYT) Let’s come right out and ask it. Is The Times’ obsession with CEO pay verging on cliché? Apropos of nothing, The Times looks at the burning issue of CEOs who get to use company jets for personal reasons. Clearly looking for a scandal, The Times notes […]

    / May 10, 2006 at 8:32 AM
  • News

    Too Big To Delist?

    Today Fannie Mae disclosed two more accounting errors, on top of the dozen previously disclosed, adding that the financial impact of the new errors “could not yet be quantified.” If Fannie Mae was your company, it would be delisted by now. But, of course, it’s not your company. Earlier this year the NYSE exchange got […]

    / May 9, 2006 at 5:46 PM
  • video

    Who Did You Exploit Today?

    This isn’t new. But we hadn’t come across it before so we thought we’d bring it to your attention. Apparently MTV2 sent a youngster reporter down to Wall Street to ask passersby questions like “Do you need a napkin to wash the blood off your hands?” Brilliant. Beat Kids 104 [YouTube]

    / May 9, 2006 at 4:53 PM

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