September 2006

  • Exotics

    Drinking Your Way To Wealth

    As it turns out, the time you’ve been spending in the bars may be helping your earning power. A study recently published in the Journal of Labor Research reveals that social drinkers earn more than those who shy away from the bottle. If you thought swigging beer or indulging in a glass of chardonnay was […]

    / Sep 14, 2006 at 12:28 PM
  • Oligarchs

    How Russia’s Oligarchs Got That Way

    Back in 1993 we were living in Washington DC, playing cub reporter in the nation’s capital and trying to uncover dirt on young members of the Clinton administration. As you can imagine, this job was not the most satisfying in the world. So we cooked up a different plan—get some financial backing and hightail it […]

    / Sep 14, 2006 at 12:18 PM
  • Marvel

    How Many Spiderman Movies Can Marvel Make?

    It’s pretty obvious that a lot of the math nerds running hedge funds or making buy recommendations at Wall Street firms have sentimental reasons for liking comic book companies—namely, they were big X-Men fans as kids and associate with the idea that a geeky guy like Peter Parker secretly has super powers. But is there […]

    / Sep 14, 2006 at 11:48 AM
  • General Electric

    GE Puts Apollo In A Sticky Situation

    We like this story just because it is a good example of the direction of so much that is going on in corporate finance—old school manufacturing companies going private while spanking new tech companies reach out to the public capital markets. Now when the horse gets too old to run, he still might be made […]

    / Sep 14, 2006 at 11:20 AM
  • Shorter Dealbook

    DealBook, The Abridged Version (9.14.06)

    Crime/Fraud/Legal/Investigations/Inquiries: Small private investigator firm scrutinized for role in HP scandal [legal] Former Fannie Mae chief may be hit with civil suit [legal] Former NYSE trader accused of fraud takes the stand in his own defense [legal] Direct mail merger meltdown to go to trial in December [legal] NYSE fines Citigroup for rogue trader [legal] […]

    / Sep 14, 2006 at 9:05 AM
  • Opening Bell

    Opening Bell: 9.14.04

    Americas: A burst of optimism on oil (Bloomberg) The idea that the market has been rallying due to oil is a little strange. Let’s just say, we’re not totally convinced the two are related. Let’s start with the fact that it’s not as though the market’s weren’t doing well as oil marched steadily higher over […]

    / Sep 14, 2006 at 8:32 AM
  • Write-Offs

    Write-Offs: 09.13.06

    $$$Thoughts on cheating, by the man who, for all intents and purposes, invented the word. [Trump Blog] $$$Bidding for Warren Buffett’s town car continues. (Out of loyalty, we abstain from the tawrdy, sickening event all together; for those lacking scruples entirely, place bids here). [DealBook] $$$Cocky, Jewish, smoking, I-banking, poor speller seeks mate. All those […]

    / Sep 13, 2006 at 5:33 PM
  • Ford

    Is Ford Headed the Wrong Way?

    One of the great problems with Ford is that its work force is demoralized. It’s been hemorrhaging executives, and its middle management largely consists of folks waiting for their pensions to kick in. Try finding a kid at business school who think Ford would be a pretty cool place to land a job. It’s a […]

    / Sep 13, 2006 at 5:25 PM
  • Citicorp, NYSE

    Rogue Trader: Gold And Silver Were Her Best Friends, Trading Limits Not So Much

    In month before she was fired, Citigroup precious-metals trader Gail Edmonds went as much as 75 times over her trading limit, obliging the bank to deliver $331 million in gold and silver, according to NYSE documents. The Bloomberg story points an accusatory finger at the no-rules culture of Citi under Sanford Weill: The case offers […]

    / Sep 13, 2006 at 4:30 PM
  • banking culture

    The Last Town Car

    “Of course John Carney is evil,” someone once remarked about us. “Why do you think he’s always followed around by a big black car?” But the black car following us around was not an outward sign of our moral alignment or an omen of dark times that we might bring. Except, perhaps, accidentally. It was […]

    / Sep 13, 2006 at 3:58 PM
  • Business Media

    Alexis Glick: Seriously Foxy

    Alexis Glick probably has mixed feelings about this whole Fox News Channel thing. We don’t. While she’s no doubt happy to have landed a new gig—and to be in line to be a big shot at the fabled Fox Business News channel—we’re sure Alexis would have loved to have inherited Katie Couric’s post on the […]

    / Sep 13, 2006 at 3:26 PM
  • Jeffrey Epstein

    Harvard Keeping Jeffrey Epstein’s Money

    The Harvard Crimson reports today that Harvard is keep Jeff Epstein’s donation. After money manager Jeffrey Epstein was charged in July with soliciting sex from prostitutes, several recipients of his donations distanced themselves from the New York billionaire. But though Epstein wrote a $6.5 million check to Harvard—with the possibility of additional millions down the […]

    / Sep 13, 2006 at 1:05 PM
  • Hewlett-Packard, Pretexting

    The Man Who Called Pretexting Illegal

    Meet Viet Dinh, the Georgetown law professor whose comments to Tom Perkins set off the chain of events that toppled Hewlett Packard chairwoman Patricia Dunn, sullied Silicon Valley super-lawyer Larry Sosini’s reputation, launched state and federal investigations and got the attention of the US Congress. As it turns out, the Vietnamese immigrant is part of […]

    / Sep 13, 2006 at 12:11 PM
  • Hedge Funds

    Phil Goldstein: Hedge Fund Super Hero?

    The man who brought down the hedge fund manager registration requirement is now seeking a waiver from rules requiring funds with over $100 million to disclose their stock holdings. His argument is pretty simple. First, disclosure allows others to benefit from his work finding investment opportunities. This is basically an unconstitutional taking of his intellectual […]

    / Sep 13, 2006 at 11:11 AM
  • Vonage

    Vonage Investors Get Letters Telling Them To Pay Up Or Else

    The New York Times is reporting that brokerage firms are sending letters shaking down holdout Vonage investors who haven’t yet paid for their shares. Vonage Holdings investors who have balked at paying for shares they bought in the company’s initial public offering, now worth less than half of the original price, began receiving letters this […]

    / Sep 13, 2006 at 9:43 AM
  • Shorter Dealbook

    DealBook, The Abridged Version (9.13.06)

    Crime/Fraud/Legal/Investigations/Inquiries: Criminal charges could be on the way in the Hewlett-Packard scandal [legal] Former HealthSouth CFO sentenced for a third time [legal] Hedge fund manager argues 13F disclosure requirements are unconstitutional takings [legal] EU court sets limits to taxes [legal] Europe warns Microsoft over Vista [legal] Michael Dell defends his CEO [legal] Panel of academics […]

    / Sep 13, 2006 at 9:06 AM
  • Opening Bell

    Opening Bell: 9.13.06

    CA Attorney General: Evidence Exists For HP Criminal Indictments (KCBS) In an interview on PBS late Tuesday, the California Attorney General said that he already has enough evidence to bring indictments against people on both the inside and outside HP. They haven’t been issued yet, and he hasn’t tipped his hand, so the guessing game […]

    / Sep 13, 2006 at 8:26 AM
  • Write-Offs

    Write-Offs: 09.12.06

    $$$This banker is looking for a married man, $$$this banker is looking for “a piece of armcandy [sic],” $$$this banker is looking for a chick with a “foot fetish,” $$$and this banker thinks Bush’s grandfather helped Hitler rise to power (which corroborates our theory that the whole world is out to get the Jews, so […]

    / Sep 12, 2006 at 5:07 PM
  • Time Warner

    The Great Time Inc Magazine Sale Details: DealBreaker Breaking News

    Time Inc’s sale of Time4 media properties, according to a DealBreaker source, is set to include: Popular Science, Marine Group (Yachting, MotorBoating and SaltWater Sportsman), Time4 Outdoors (Field & Stream, Outdoor Life), TransWorld Media (TW Skateboarding, TW Snowboarding, TW Surf, TW Motocross, Ride BMX, Quad) and Mountain Sports Media (Ski, Skiing, Warren Miller Entertainment). Golf, […]

    / Sep 12, 2006 at 4:45 PM
  • Dead Hookers, Planespotting

    Planespotting: Agents, Sluts, Cravolta, Money

    William Morris Agency (ostensibly President Jim Wiatt but who can ever really know these things): Nassau Int’l (Bahamas) to Wilmington Int’l on its Gulfstream G200 (We were going to give this little jaunt low marks on account of its personally offensive nature; one dead hooker, and nothing more. Honestly, since Dawson’s Creek ended, who goes […]

    / Sep 12, 2006 at 4:38 PM
  • Back Dating, SOX

    Options Timing May Prove a Boon To Hedge Funds

    The tone of this Bloomberg story on how dozens of companies are finding that their options timing shenanigans are getting them in hot water with bondholders strikes us as a little bit one-sided. Here’s the lede, with emphasis added. As soon as Vitesse Semiconductor Corp. said it was under investigation for securities law violations that […]

    / Sep 12, 2006 at 4:26 PM
  • News

    Bristol-Myers Chief Steps Down: Tuesday’s Corporate Bloodbath Continues

    There will be no waiting till January for Bristol-Myers Squibb Chief Executive Officer Peter Dolan. He’s out immediately, replaced by outsider James Cornelius. Apparently there was no one at the company set to take over for the boss. Dolan has been in trouble since his role, along with general counsel Richard Willard’s, in keeping off […]

    / Sep 12, 2006 at 3:34 PM
  • Compensation

    Hand Over Mutha-Effin-Fist: Goldman Comp Bigger Than Ever

    Goldman Sachs says it has set aside as much as $542,000 in compensation per employee, already topping the total for 2005. Here are the envy-inducing details from Bloomberg. Goldman said today it provided $13.9 billion in compensation for its 25,647 employees, compared with $11.7 billion for 22,425 employees at the end of last year. The […]

    / Sep 12, 2006 at 1:49 PM
  • News

    After Hours: Hanging Out With Abby Joseph Cohen

    Goldman Sachs’s Abby Joseph Cohen hits the 92nd Street Y tonight to let the audience know something about “The Next Phase in the Economic and Market Cycle.” Has the age past when Cohen’s market predictions had the added advantage of being self-fullfilling? (For a while it seemed that there were lots of investors who just […]

    / Sep 12, 2006 at 1:25 PM
  • Time Warner

    The Great Time Magazine Sell Off: Time4 Editors Meeting With Time Inc COO at 3 PM Today (DealBreaker Exclusive)

    DealBreaker has been told by sources inside Time4 that all the division editors will be meeting with co-chief operating officer John Squires–aka chief executive “Ann Moore’s assassin”–at 3 pm this afternoon in connection with the news that Time Inc plans to a bunch of its magazines up for sale today, including the Parenting Group and […]

    / Sep 12, 2006 at 12:55 PM
  • Hewlett-Packard, Pretexting

    The Patricia Dunn Apology: Innappropriate Techniques…Were Employed.

    Vagueness and the passive voice are the enemy of responsibility. Things happen. Mistakes are made. Responsibility is avoided. Here’s what outgoing Hewlett Packard chairwoman Patrician Dunn said in this morning’s press release, with emphasis added to stress the ACB. “The recent events that have taken place follow an important investigation that was required after the […]

    / Sep 12, 2006 at 12:32 PM
  • Ben Bernanke, The Fed

    Fed Speak Circa 1968

    Actually we have no idea what year Fed chief Ben Bernanke wrote his “Hippie Dictionary.” But we’re glad he did. It’s actually quite good, and nicely post-modern with its inter-textual self-referentiality. Here are the excerpts reprinted by Bloomberg. Bird — a lady as in “cute chick” or “henpecked” Dig — to like, to enjoy, as […]

    / Sep 12, 2006 at 10:40 AM
  • Hewlett-Packard

    Dunn and Done: Hewlett-Packard Chair To Step Down

    She’s out of there! Hewlett-Packard chairwoman Patricia Dunn will be replaced by chief executive officer Mark Hurd in January. As you know, Dunn had come under fire after revelations that the company had used private investigators to pry into the phone records of its directors. The board of directors met Sunday and Monday via a […]

    / Sep 12, 2006 at 9:38 AM

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