June 2006

  • Goldman Sachs

    Fighting Like Ferrets?

    The Business is reporting that Goldman Sachs executives engaged in fierce internal skirmishing in the lead-up to the recent board decision naming co-presidents to serve as incoming CEO Lloyd Blankfein’s deputies. In the colorful language of one source, “They are fighting like ferrets – it’s open warfare which is not going down well internally or […]

    / Jun 19, 2006 at 4:26 PM
  • Write-Offs

    Write-Offs: 06.19.06

    $$$ In France, sleeping with your colleague’s wife is considered a sign of respect. [Get Customs] $$$ Fed comic books. (“The Story of Monetary Policy”, “A Penny Saved”, “Once Upon a Dime”) [via GetRichSlowly] $$$ Why we’re important, according to other people (who are obviously geniuses). [The Undersigned] $$$ We just like this headline. [Asia […]

    / Jun 19, 2006 at 4:06 PM
  • Kenneth Lay, Trading Cards

    DealBreaker Trading Cards™: Ken Lay

    It has been brought to our attention that sometimes we write about people you don’t know who do things you don’t understand for reasons no one can explain. Normally, we’d just point you to Google and send you on your way, but we’re not sure we can trust you to do your own homework. (You […]

    / Jun 19, 2006 at 3:33 PM
  • banking culture

    You wake up at O’Hare. You wake up at LaGuardia. You wake up at Logan.

    Jose Paul Martin lists the top ten symptoms of “Global Private Equity Syndrome”: 1. Prematurely grey hair 2. Inability to remember city or country in which one is awakening 3. Persistent daze / jet lag / hoarse throat 4. Equating sleep on an airplane with real sleep 5. Inabilities to remember (or be present at) […]

    / Jun 19, 2006 at 2:28 PM
  • short selling

    Senate Short Selling Panel Pushed Back One Week

    From Gary Weiss we learn that the Senate Judiciary committee has pushed back its hearings on short-selling for a week. Maybe they took our advice to study up on the subject a bit more before launching headlong into what could have been a nightmare of gullible lawmakers getting duped by fast-talking (and possibly campaign fund […]

    / Jun 19, 2006 at 1:28 PM
  • Goldman Sachs, Loan Defaults

    Hedge Funder May Block Rescue at Sea

    David Tepper, who runs the Appaloosa Management hedge fund, may seek to block a debt-for-equity swap aimed at rescuing passenger and freight transporter Sea Containers from defaulting on its bonds. Tepper is worried about the dilutive effects of the exchange, according to the Telegraph. Details of the proposed swap have not yet been made public. […]

    / Jun 19, 2006 at 12:45 PM
  • interviews

    DealBreaker Interviews: Dr. Alden Cass, Hair Stylist Therapist to the Stars Wall Street-ers

    Dr. Alden Cass, “therapist to the Stars Wall Street-ers,” has an enormous, framed poster of Wall Street behind his desk. Cass, who refers to himself as a “performance enhancement strategist,” is a psychologist who specializes in curing the psychoses of investment bankers, stockbrokers and the like. Our Q&A after the jump…

    / Jun 19, 2006 at 11:40 AM
  • Shorter Dealbook

    DealBook, The Abridged Version (06.19.06)

    We love the NYTimes’ DealBook blog and read it daily, but it’s just too long. There’s too much stuff and we don’t have the attention span. So as a public service, we offer you DealBook: The Abridged Version. Tomorrow we’ll make it even shorter: Crime/Fraud/Legal/Investigations/Inquiries: Time Warner CFO + alleged madam = [crime] Defense: NYSE […]

    / Jun 19, 2006 at 11:22 AM
  • Vonage

    More problems at Vonage

    Vonage shares are now down to almost half the IPO price following two additional bits of bad news. Today Vonage said that it is being sued for patent infrigement related to its internet phone technology by a division of Verizon. On Friday Vonage was forced to retract an earlier statement that the Federal Trade Commission […]

    / Jun 19, 2006 at 11:11 AM
  • Airbus

    Airbus To Push for Bailout

    Following last week’s disastrous announcement of further problems with the A380 superjumbo jet, word comes this week that Airbus may seek state assistance from Europe to develop a midsize carrier. This promises to up the ante on the aircraft trade war brewing between the US and Europe. The US has vowed to fight further subsidies […]

    / Jun 19, 2006 at 10:39 AM
  • Goldman Sachs

    Top State Department Honcho Goes To Goldman

    Robert Zoellick, the Bush administration’s main China hand, resigned from the State Department and will take a job at Goldman Sachs, Bloomberg reported. Zoellick was a top deputy to Secretary of State Condoleezza Rice. For weeks published reports had predicted he would leave for the private sector after being passed over Treasury Secretary position. Zoellick […]

    / Jun 19, 2006 at 10:08 AM
  • Goldman Sachs

    Goldman Names Co-Presidents

    In what seems to be a victory for outgoing CEO Hank Paulson, the board of Goldman Sachs split the presidency of the firm so that the banking and trading divisions will be represented in the second highest post under incoming Chief Executive Officer Lloyd Blankfein. The push to create a co-presidency was reportedly the only […]

    / Jun 19, 2006 at 9:31 AM
  • Time Warner

    Rich Man May Have Given Gifts to Pretty Woman

    Andrea Schwartz, a thirty-one year old woman accused of running a prostitution ring, denies the prostitution charges by claims that she was showered with gifts and money by wealthy and powerful men, including Time Warner Chief Financial Officer Wayne Pace, according to the Daily News. Pace’s lawyer tells the News that his client knew Schwartz […]

    / Jun 19, 2006 at 9:01 AM
  • Opening Bell

    Opening Bell: 6.19.06

    When Ben Burped (Barron’s) Oh praise be to the heavens. Alan Abelson is back! Apparently, Abelson’s absence from his excellent “Up & Down Wall Street” column was due to some health issues, as he starts his column by referencing a man in a white smock and scalpel. Given that his departure was timed brilliantly with […]

    / Jun 19, 2006 at 8:46 AM
  • Write-Offs

    Write-Offs: 06.16.06

    $$$Tree Hugging Bank o’ America will surely love this windmill-powered cell phone charger…crazy hippies and their mobile phones. [Tech Blog] $$$Calling all Michael Douglas wannabees: parlay your banking know-how (or lack thereof) into a career on the silver screen. [Craigslist] $$$Finally, something to do during those insufferable Goldman Sachs conference calls. [Costa Rica In-focus] $$$Wait– […]

    / Jun 16, 2006 at 5:00 PM
  • Regulators

    Nudity In the Senate

    Next Tuesday the Senate Judiciary Committee is scheduled to hold a hearing on the short-selling by analysts and hedge funds. Senators are apparently concerned about naked short-selling. “Naked short-selling is against the law, and we’re concerned about it,” a spokesman for Sen. Orrin Hatch, R-Utah, a Judiciary Committee member, told Dow Jones. It’s probably a […]

    / Jun 16, 2006 at 4:01 PM
  • Summer

    Summer of Excess?

    The big summer internship is back, according to Forbes. And not a moment too soon, as far as we’re concerned. Excessive perks for summer interns tend to encourage, well, excess among the interns. Drunkenness. Insubordination. Tawdry affairs. Some highlights after the jump.

    / Jun 16, 2006 at 3:09 PM
  • ShareSleuth

    Can Cuban Do That?

    Can Mark Cuban really trade stocks based on advanced knowledge of stories that will be published on Sharesleuth.com, the blog he is funding that will focus on exposing corporate fraud? Cuban says that he will use the information gathered by investigators for Sharesleuth to buy and sell stocks before the stories are published. Presumably he […]

    / Jun 16, 2006 at 2:30 PM

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