September 2006

  • Write-Offs

    Write-Offs: 09.29.06

    $$$Gay Banker crunches numbers. [Things I Can’t Tell Boyfriend Number 1] $$$Married Wall Street’r seeks similarly attached for a relationship “without BS.” [Craigslist] $$$Trump on drugs . [The Trump Blog]

    / Sep 29, 2006 at 4:41 PM
  • Amaranth

    No Citigroup Bailout for Amaranth

    CNBC is reporting that talks between Citigroup and Amaranth have fallen apart. It had been reported that Citigroup was considering a large stake in the fund. The collapse of these negotiations—and the possibility that they collapsed because Amaranth is in even worse condition than its managers have let on—is likely to prompt even more redemption […]

    / Sep 29, 2006 at 4:21 PM
  • Merrill Lynch, sex

    Daniella Cicarelli Video

    A couple of our readers complained that they were being deprived of the Merrill banker getty down and dirty on the beach with Daniella Cicarelli video because their firm blocks the website hosting it. So we’re embedding it right here for even easier access. We apologize in advance for the terrible soundtrack. One thing we […]

    / Sep 29, 2006 at 3:59 PM
  • Pirate Capital

    The Pirate Capital Investment Letter

    Not surpisingly, Thomas Hudson doesn’t mention a word about the SEC investigation that many reports indicate prompted this weeks mass resignations at Pirate Capital. Instead, he makes it sound like it was a decision he made to bring the fund back to its “roots.” Click here to download a pdf of the whole letter Hudson […]

    / Sep 29, 2006 at 3:36 PM
  • sex

    Daniella Cicarelli (Hearts) Merrill Banker

    We deplore this kind of privacy invasion. What is happening to the world when a super hot brazillian MTV personality cannot have sex with her boyfriend on a public beach in privacy? The hottest topic on many Brazilian voters’ minds isn’t this weekend’s presidential election. It’s the video of a Merrill Lynch & Co. banker […]

    / Sep 29, 2006 at 3:05 PM
  • Hewlett-Packard

    H-P: Passing the Buck All The Way Around

    DealBook this afternoon provides a good guide to who blamed whom for the excesses of Hewlett-Packard’s leak investigation. You get a good picture of why lawmakers seemed so frustrated yesterday by just comparing what Pattie Dunn said to what the executives at the company are saying. Patricia Dunn Position: Chairwoman Still at the firm? No […]

    / Sep 29, 2006 at 1:20 PM
  • Hewlett-Packard

    Voodoo Economics

    Opening Bell this morning mentioned that Hewlett-Packard somehow managed to get a deal done amidst all the leak investigation hoopla. In case you missed it, they bought the luxury gaming pc company Voodoo. This morning, Voodoo’s founder put up an item on his blog describing how the deal got done. Project Vampire is about to […]

    / Sep 29, 2006 at 1:06 PM
  • Hewlett-Packard

    Hewlett-Packard: The Day After

    If yesterday’s non-stop DealBreaker coverage of the Hewlett-Packard hearings didn’t quite satisfy your needs, you can hop on over to C-Span’s web presence for these two videos. Here’s the first clip. And here’s the second.

    / Sep 29, 2006 at 12:39 PM
  • business school

    School for Scoundrels

    We were so busy with Hewlett-Packard and Pirate Capital updates yesterday that we completely overlooked the USA Today story on ethics at Harvard Business School. Time was that teachers were held accountable for the ethics of their students. Think Socrates. There’s a serious question, however, about whether these ethics classes do any good. Lawyers have […]

    / Sep 29, 2006 at 12:31 PM
  • Pirate Capital

    Mutiny Aboard the Jolly Roger

    The Pirate Capital saga continues. Earlier this week, at least seven staffers jumped ship for comfortable ports. Today Bloomberg is reporting that at least some of the departed are not happy with the letter from fund founder Thomas Hudson explaining the losses. Hudson disclosed yesterday that analysts Zachary George and David Lorber resigned on Sept. […]

    / Sep 29, 2006 at 11:37 AM
  • business school

    We Are The Champions

    Okay. Look. At some point you are going to get this guy’s resume. And you’ll totally have to hire him. Because, let’s face it, he is a champ.

    / Sep 29, 2006 at 11:02 AM
  • Ask Brock

    Ask Brock: Where Was Everyone Last Friday?

    Brock Fantasia is the only remaining person in the JPMorgan analyst class of 2002 to still work at JPMorgan, which is in no way testament to the work environment at JPMorgan. In fact, Brock likes to think of himself as the Highlander of his analyst class, wielding an indestructible claymore of corporate finance. After “totally […]

    / Sep 29, 2006 at 9:43 AM
  • Shorter Dealbook

    DealBook, The Abridged Version (9.29.06)

    Crime/Fraud/Legal/Investigations/Inquiries: French national assembly approves cut in the state’s stake in Gaz de France, clearing the way for a planned merger with Suez [legal] Hardball: GM wants billions from Renault-Nissan? Well, maybe they’ll just go to Ford instead [legal] Sears extends bid for Sears Canada [legal] Bank of America admits Manhattan branch allwed money laundering […]

    / Sep 29, 2006 at 9:20 AM
  • FOREX, Opening Bell

    Opening Bell: 9.29.06

    China lets yuan rise a bit on dollar (China Daily) You wouldn’t exactly call it a floating currency, or anything like that, but the Chinese government is slowly letting the Yuan appreciate against the Greenback. The currency broke through the all-important — but entirely psychological — 7.9/dollar mark, a crucial level if we’re ever going […]

    / Sep 29, 2006 at 8:24 AM
  • Write-Offs

    Write-Offs: 09.28.06

    $$$Nick Maounis’s unfortunate yearbook picture, circa band-geek years. [Wall $treet Folly] $$$25 yo banker seeks date to the Latin Grammy Awards; rice and beans beforehand. [Craigslist] $$$“ATTRACTIVE BANKER FOR SEXY LATE NIGHT OWL“; I can’t think of anything offensive to say about owls. yet. [Craigslist]

    / Sep 28, 2006 at 6:05 PM
  • Planespotting

    Planespotting: Doing It With Blindfolds

    Which private investment and advisory firm founded in 1985 by Peter G. Peterson and Stephen A. Schwarzman took the company Raytheon Hawker 800 to the embarrassingly déclassé (we’re talking on the MySpace level) Southwest Florida Int’l Airport? Which Forbes 400 octogenarian from Philadelphia flew her Gulfstream V to Luton (UK) Airport, phamaldehide and all? Which […]

    / Sep 28, 2006 at 5:41 PM
  • Hewlett-Packard

    Hewlett-Packard Hearing Day Afternoon Update: Pass The Buck

    Both Pattie Dunn and chief executive Mark Hurd denied knowing about the techniques of Hewlett-Packard’s investigation, including pretexting and attaching tracer software in an email. Dunn had a pretty rough time in front of the committee. She testified for more than four hours before a group of lawmakers whose attitudes ranged from skeptical to hostile. […]

    / Sep 28, 2006 at 5:34 PM
  • Back Dating, Kobi Alexander

    Kobi Alexander Wants To Be Released On Bail

    Kobi Alexander must not live in the same reality as the rest of us. In our reality, fugitives discovered hiding out on a distant continent don’t get released on bail when they are caught. In Kobi’s reality, the fugitives totally get set loose. Especially if they promise they’ll come back! So which reality does controls […]

    / Sep 28, 2006 at 5:18 PM
  • Pirate Capital

    Pirate Capital: Now Hiring!

    We’re asked a lot about how you can get started in hedge funds. Here’s your chance. According to Bloomberg’s updated report, Pirate Capital may be looking for an analyst to replace the four who resigned or were fired this week. Get those resumes together and send them up to Norwalk! Here’s Bloomberg’s quick summary of […]

    / Sep 28, 2006 at 5:07 PM
  • Argent

    Greek Tragedy: Hedge Fund Style

    The New York Post has a story today on the daughter-marrying hedge-fund manager Bruce McMahan. There’s not a lot new in the story but it serves as a useful confirmation that this really happened . It’s a bit easier of a read that the original New Times story too, so if you missed yesterday’s item […]

    / Sep 28, 2006 at 4:49 PM
  • Photo Essays, The Commute

    The Commute: Tale of the Williamsburg Hitler

    + + Having burned all of our bridges with Connecticut, we really had to dig deep to come up with today’s installment of our twelve-part series, “Bro’ing Out With Bankers: The Commute” (today is part II; hunker down—we’ll get there, and we’ll do it together or so help me God I’ll pull this car over […]

    / Sep 28, 2006 at 4:36 PM
  • Amaranth

    I Gave Amaranth Several Million Dollars and All I Got Was This Lousy T-Shirt

    In the grand tradition of continuing to make money off of dead businesses in the eBay aftermarket (see here), a reader notes that Amaranth swag is now up for auction here. The seller’s description: Get yourself a peice of the biggest hedge fund loss in history, Bloomberg news most ever searched item. Bought for marketing, […]

    / Sep 28, 2006 at 4:12 PM
  • Pirate Capital

    Watch Pirate Capital Implode In Real Time

    Pirate Capital has been hit with redemption notices from at least three fund of funds, with more expected, according to a DealBreaker source. The redemptions are said to be prompted by poor performance in recent months. The fund has lost its marketing department as well as their analysts, according to the source. Among those we’re […]

    / Sep 28, 2006 at 3:48 PM
  • Pirate Capital

    CNBC: Pirate Capital Analysts Quit

    Now CNBC’s David Faber is reporting that all or most of Pirate Capital’s analysts have left the fund following a dispute about handling the SEC investigation announced on Tuesday. Zachary George, where are you? Send tips to tips (at) dealbreaker (dot) com.

    / Sep 28, 2006 at 2:49 PM
  • Pirate Capital

    Breaking News: Is Pirate Capital Imploding?

    We’ve been hearing today that Pirate Capital might be imploding. Commenters have told us that “all of Pirate’s analysts quit” and claimed that the SEC raided its offices this morning. Several calls this morning to people at Pirate Capital went directly to voicemail, and messages left went unreturned. A few moments ago we reached an […]

    / Sep 28, 2006 at 2:41 PM
  • Business Media, CNBC, Hewlett-Packard

    CSPAN: For All Your Business News

    It was a bit shocking this morning when CNBC cut away from the Hewlett-Packard hearings in the middle of Patricia Dunn answering the first question the subcommittee asked her. Our first thought was that something really big must be breaking if they are going to pull away from Dunn’s testimony so suddenly. So what were […]

    / Sep 28, 2006 at 1:59 PM
  • MySpace

    What Is MySpace Worth?

    Can we take a break from all this Hewlett-Packard business for a minute and talk about MySpace? We first heard about MySpace when one of our favorite rock-and-roll lawyers posted a bulletin to her friendster account announcing, “I’m outta here! Check me out on MySpace suckers!” In the couple of years since then MySpace has […]

    / Sep 28, 2006 at 1:15 PM
  • Hewlett-Packard

    Pattie Pins It On H-P’s CEO and CFO!

    Congresswoman DeGette is getting somewhere with her questions. She’s asking about the creation of a fictional disgruntled employee named “Jacob” in a “covert operation” directed against a reporter. DeGette asks Dunn about Jacob. Dunn says that while she “initiated” the investigation at the board’s request, she did not want to get involved in approving or […]

    / Sep 28, 2006 at 12:27 PM

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