July 2006

  • Hedge Funds

    More On The Fabulous Jeyaretnams

    So it turns out that Kenneth Jeyaretnams is not the only post-socialist success story son of his socialist father Joshua. His brother Philip is an attorney, law professor and celebrated novelist. Philip attended Cambridge, and then went to the University of Iowa writers program. He reportedly runs the project finance practice of an important Singapore […]

    / Jul 11, 2006 at 3:40 PM
  • Planespotting

    Planespotting: Sergey Brin/Larry Page, Not Fans of Sprinkles

    Here in the Planespotting Room of the DealBreaker Pleasure Palace, we have more important things to tell you, plane-wise, than where assorted individuals actually went while on their assorted planes. So we’re just going to get the housekeeping out of the way up front and report* that Google founders Sergey Brin and Larry Page recently […]

    / Jul 11, 2006 at 3:07 PM
  • Hedge Funds

    Another Red Diaper Baby Hedge Fund

    Kenneth Jeyaretnam, another child of socialism forging ahead in the world of global capitalism, is launching his own $500 million hedge fund. Kenneth is the son of Joshua B Jeyaretnam (pictured left), the leader of Singapore’s socialist opposition. Clearly, one blessing of age of finance is that it gives brilliant people with piercing intellects something […]

    / Jul 11, 2006 at 2:25 PM
  • Hedge Funds

    Hedge Fund Average Declines A Bit

    If you are like us, hedge fund returns are bag of mixed emotions. At one level there is the thrill of watching the wealthy and the great becoming wealthier and greater. (And the possibility that our buddy at DE Shaw will take us to lunch at Nobu.) On the other, there is the secret thrill […]

    / Jul 11, 2006 at 1:05 PM
  • Warren Buffett

    Is This The Face of the Next Warren Buffett?

    Warren Buffett’s pledge to donate Berkshire shares worth close to $37 billion to a charitable foundation run by Bill Gates and four other Buffett family charities has sparked renewed speculation about who will succeed Buffett as head of Berkshire Hathaway when he retires or dies. In March, Buffett said the company’s board of directors had […]

    / Jul 11, 2006 at 10:38 AM
  • Venture Capital

    Venture Capitalists Gone Wild

    It’s hard enough to grow old gracefully. Now people are finding economic rationales for resisting their own age. Or should that be rationalizations? Reading this story we couldn’t help but wonder if some of these venture capitalists were simply having mid-life crises and then using the latest tech opportunities as a reason to act out. […]

    / Jul 11, 2006 at 9:16 AM
  • Shorter Dealbook

    Dealbook, The Abridged Version (07.11.06)

    Crime/Fraud/Legal/Investigations/Inquiries: Vonage to face patent infringement suit against Klausner Technologies in Texas courts [legal] Deutsche Bank under investigation by french authorities for questionable tax shelters; one sold via Silicon Valley firm under close watch [legal] Microsoft to face $3.8 million dollar fine per day if landmark antitrust decision continues to be defied [legal] British banking […]

    / Jul 11, 2006 at 9:11 AM
  • business wisdom

    How to Be Happy

    Work for the gays, says Kirk Snyder. According to his studies, employees supervised by gays are much happier than everyone else. “I’m super, thanks for asking,” was presumably the favored response. [Warning: link plays a probably NSFW song from a popular film.] Why Gay Men Are Outperforming the Good-Old-Boys in Business [Huffington Post]

    / Jul 11, 2006 at 9:05 AM
  • Opening Bell

    Opening Bell: 7.11.06

    Japan Looks to Its Savers to Consume (NYT) When analysts in the US rejoice over high spending, or the talking heads on CNBC start jumping up and down on the table because sales of flat-panel TVs fueled a good Christmas season for retailers, it always seems a little off. Americans have never had a problem […]

    / Jul 11, 2006 at 8:24 AM
  • CEO

    How To Become An Under 35 CEO

    As it turns out, if you want to be a CEO of a public company before you turn 35, it helps to have chosen the right parents. The kind who built-up public a public company. Failing that, you can start your own company. Whatever you do, don’t try to move up the corporate ladder. But […]

    / Jul 10, 2006 at 4:40 PM
  • Write-Offs

    Write-Offs: 07.10.06

    $$$ Post-humously, a smidge in poor taste, but nothing that’ll kill you: more K-Lay tee-shirts. [Cafe Press] $$$ The Rise and Rise of an Ambitious Banker. Is there another kind we’re not aware of? [The Glasshouse] $$$ Membership in the DirecTV Titanium Club gives you access to every single DirecTV channel, EVERY Pay-Per-View movie and […]

    / Jul 10, 2006 at 4:35 PM
  • Kenneth Lay

    Will Lay’s Death Set Skilling Free?

    By now everyone has heard the theory that Ken Lay’s death might technically mean that Lay went to his grave an innocent man. Even though he had been convicted, since Lay died prior to sentencing and with possible appeals still available, his verdict was not final, the theory goes. But the latest idea is that […]

    / Jul 10, 2006 at 4:08 PM
  • Warren Buffett

    Deepak Chopra: Buffett, Schmuffett

    This afternoon brings with it a somewhat unlikely entrant to the Warren-Buffett-Ain’t-All-That camp: Deepak Chopra. Says Chopra: Frankly, I think common citizens can solve problems that rich people can’t. Rich people didn’t bring down the Berlin Wall, and we need to remember that. Rich people didn’t found Solidarity in Poland. They didn’t bring Nelson Mandela […]

    / Jul 10, 2006 at 4:01 PM
  • Kenneth Lay

    Ken Lay’s Minister of Inappropriate Analogies

    We were a little put off when we first heard that Rev. William A. Lawson, the pastor emeritus of Houston’s Wheeler Avenue Baptist Church who officiated at yesterday’s memorial service for Ken Lay, had said that the service was being held in Aspen rather than Houston, where Lay had lived for years and made his […]

    / Jul 10, 2006 at 3:25 PM
  • Hedge Funds

    When Cozying Up To Russia’s Leader Doesn’t Pay

    For the past several years, William Browder has been one of Russian leader Vladimir Putin’s most prominent foreign cheerleaders. Browder manages the Hermitage Capital hedge fund, reportedly the biggest single source of western investments in Russia. He is known for his shareholder activism, repeatedly criticizing corrupt business practices in Russia, and for his steadfast support […]

    / Jul 10, 2006 at 3:12 PM
  • Economics

    When Corporate Crime Doesn’t Pay

    How pissed off must those guys who stole soft drink secrets from Coke have been when they learned that Pepsi ratted them out? What’s the point of engaging in corporate espionage if you can’t even sell the secrets to your victim’s biggest rival? Must really take the wind out of the sails of many a […]

    / Jul 10, 2006 at 1:48 PM
  • Greenwich

    Greenwich: The New Newport, Only Tackier & Nerdier

    The Independent’s Chris Walker spent a day out in the hedge fund wonderland of Greenwich, Connecticut. It reminds him of Newport, Rhode Island circa the early days of the last century. Only with less culture, worse taste and more geeks. A new gilded age? I spent this 4 July in the various palatial Vanderbilt family […]

    / Jul 10, 2006 at 1:24 PM
  • Wayne Pace

    Wintour, Women and Wayne Pace

    The neverending Devil Wears Prada press blitz continues this morning with an article by David Carr about Vogue editor Anna Wintour and whether she’s more harshly judged an executive than her male counterparts. Writes Carr: Male media stars can ingest illegal drugs, make obscene phone calls or hire prostitutes without apparent consequence, but the failure […]

    / Jul 10, 2006 at 12:30 PM
  • Warren Buffett

    Warren Buffett Responds to “Is Warren Buffett Going to Hell?”

    Friday morning we got a particularly relevant response to our “Is Warren Buffett Going to Hell?” investigative report from, well,… Warren Buffett. It’s technically addressed to Fordham theology professor Richard Dillon, who commented on the piece, but was sent to us. (Click to view a larger image of the letter.) Now we just need Ken […]

    / Jul 10, 2006 at 11:18 AM
  • Treasury

    Live Blogging the Hank Paulson Swearing In Thingy

    Hank Paulson is getting sworn in as Treasury Secretary today. We’ll be liveblogging the event. 11:10. Late already. Hank is already operating on Washington, DC time. 11:15. President takes the podium. He’s looking a bit shaggy. Solid red-tie. What does that symbolize? [Continued after the jump]

    / Jul 10, 2006 at 11:16 AM
  • insider-trading

    Summer Security Clearance Blues

    Joseph Nacchio will have to wait until August before his lawyers get to argue their motion to dismiss the case that could land the former Qwest Communications CEO in jail for 420 years. Nacchio is facing charges arising from a $101 million stock sale which prosecutors say was made with inside knowledge the company was […]

    / Jul 10, 2006 at 10:53 AM
  • Write-Offs

    Dealbook, The Abridged Version (07.10.06)

    Crime/Fraud/Legal/Investigations/Inquiries: Prime Minister Silvio Berlusconi may be tried for tax fraud, false accounting and embezzlement pertaining to Mediaset [legal] Judge may modify terms of SBC Communication’s acquisition of AT&T and Verizon’s purchase of MCI [legal] H.J. Heinz will probably win proxy battle, may not matter [legal] EADS’s shareholders file suit [legal] Security measures may increase, […]

    / Jul 10, 2006 at 10:31 AM
  • Dick Grasso

    Dick Grasso’s Shabby Chic

    You know how it goes. You lose your job. You let your hair go a bit shaggy. You stop shaving. You cultivate a look of weary resignation appropriate to someone whose life has marched off down an unexpected path. Good news. Former New York Stock Exchange boss Dick Grasso is just like the rest of […]

    / Jul 10, 2006 at 9:34 AM
  • The Fed

    The Lord of the Rings Theory of The Federal Reserve

    Every now and then it’s helpful to break-up the now standard “pause” or “rate increase” talk about the Federal Reserve’s next step with a reminder that the Fed is not a force of nature–like say hurricanes–but something invented sometime near the start of the last century. The folks who write for LewRockwell.Com like to call […]

    / Jul 10, 2006 at 9:22 AM
  • Opening Bell

    Opening Bell: 7.10.06

    A fringe benefit from over-paid CEOs (RGE Monitor) You could argue that the only kind of revenue that some liberals really love is tax revenue. Maybe that’s too much of a sweeping generalization, but those who do feel this way should consider one of the major benefits of highly-paid CEOs: more tax revenue. Considering that […]

    / Jul 10, 2006 at 8:38 AM
  • Business Media

    Melissa Francis Loses It For Shaved Men

    Crossing Wall Street’s Eddy Elfenbein points us toward the video to the left, featuring CNBC’s Melissa Francis and Margaret Brennan discussing the new Phillip Norelco Bodygroom shaver. It’s worth it just to see Melissa Francis’ awkward smile at the end of segment. And despite the title above, she basically holds it together.

    / Jul 7, 2006 at 4:32 PM
  • Attorney General, Hedge Funds, Regulators

    Crime Task Force Takes Aim At Hedge Funds

    When the Senate judiciary committee announced it was holding hearings on hedge funds a lot of people scratched their heads and wondered why this wasn’t something that would be taken up by the banking committee, which has oversight over the SEC and financial market regulation. Even some of members of the banking committee wondered about […]

    / Jul 7, 2006 at 3:59 PM
  • Hedge Funds

    This Morning We Started A Hedge Fund in the Shower

    Everyone hates effin’ upstart competition. If you are a British hedge fund, though, you don’t have to worry as much as your American counterparts about newly launched funds stealing your investors. Because in order to operate a fund in Britain you first have to go through lengthy and expensive regulatory maze. …every hedge fund manager […]

    / Jul 7, 2006 at 3:28 PM

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