September 2006

  • Shorter Dealbook

    DealBook, The Abridged Version (9.12.06)

    Best DealBook headline: Murdoch Hops on Maker of Crazy Frog Ringtone [good pun] Worst DealBook headline: Tech To Try Out IPO Market Next Week [say what?] Crime/Fraud/Legal/Investigations/Inquiries: Congress starts asking questions about H-P investigation [legal] Court-appointed overseer tells Bristol-Myers Squibb to fire chief [legal] GlaxoSmithKline Holdings settles suit with IRS [legal] Cyberonics investor group pressing […]

    / Sep 12, 2006 at 9:03 AM
  • Opening Bell

    Opening Bell: 9.12.06

    US hiring outlook stable for rest of 2006-survey (Reuters) To the man on the street, the only economic stat worth the paper it’s printed on is employment data. You can have your adjusted GDP, Core CPI, Baltic Dry Index, etc., but leave him the numbers on whether he’ll have a job at the end of […]

    / Sep 12, 2006 at 8:26 AM
  • Write-Offs

    Write-Offs: 09.11.06

    $$$TrumpBlog: “As far as The Apprentice is concerned, Ivanka replaces Carolyn next season. [She does have a very nice figure…if she wasn’t my daughter, perhaps I’d be dating her]. Ivanka did a fantastic job last year and she continues to amaze me with her talents. [She does have a very nice figure…if she wasn’t my […]

    / Sep 11, 2006 at 5:26 PM
  • The Commute

    Pardon Me, But Might I Suggest Greenwich? (For Those Who’ve Given Up All Hope)

    One morning, a few weeks back (let’s say 4), I inadvertently placed a scotch on the rocks meant for DealBreaker publisher Elizabeth Spiers on DealBreaker editor John Carney’s desk. John, who takes his scotch neat, flew off the handle and decided that the only punishment harsh enough, and befitting the crime, would be to send […]

    / Sep 11, 2006 at 4:09 PM
  • Lawyers

    Is Larry Sonsini the Real Villain at Hewlett-Packard or a Scapegoat?

    The Hewlett-Packard mess is rapidly turning into a bloodbath. Board members who leaked to the press have been accused of breaching confidentiality. The non-executive chair Patty Dunn may be ousted when the board resumes its conference call this afternoon. We’ve even heard a few shots at the journalists covering the story—mostly, that journalists will do […]

    / Sep 11, 2006 at 3:31 PM
  • Pretexting

    Hewlett-Packard: Now Enter The Feds

    As we predicted on Friday, federal authorities are getting involved in the Hewlett-Packard mess. The associated press is reporting this afternoon that Hewlett-Packard has said the U.S. Attorney’s Office “informally contacted” the company in connection with the leak investigation that led to private investigators using dishonest means to obtain the phone records of board members […]

    / Sep 11, 2006 at 2:12 PM
  • Hewlett-Packard

    Hewlett-Packard Insiders August Selling Bonanza

    August was a record setting month for Hewlett-Packard insider stock sales, the Mercury News reports this morning. Insider sales amounted to the biggest month of insider cash-outs in five years. Ironically, the only H-P insider who has bought shares on the open market (as opposed to exercising options) in the past two years is George […]

    / Sep 11, 2006 at 12:14 PM
  • Vonage

    Is Vonage Worthless?

    We’re ending our moratorium on Vonage—there were only so many times we could say Vonage was screwed/on crack/toast—to bring to your attention Nickel Capital’s Mark Langner analysis arguing that “there is no value to VG equity as a stand alone entity and little value as a takeover target.” The problem with Vonage is that its […]

    / Sep 11, 2006 at 11:37 AM
  • News

    Former Investment Banker Bashes Cop With Pipe

    Former Cowen & Co banker and MIT graduate Gavin Duchin was arrested Saturday morning after striking a police officer with a lead pipe. Duchin worked for Cowen & Co in the early 1990s but was laid off. Things apparently went very badly after that—he seems to have spent a number of years dividing his time […]

    / Sep 11, 2006 at 11:25 AM
  • Business Media

    Banker Monthly

    Doubledown Media, the company that brought you Trader Monthly is now bringing you Banker Monthly. Except that it’s called Dealmaker. (You can’t start a Wall Street pub these days without including “deal” in the title.) The new pub will include a Top Investment Banker list, much like Trader Monthly’s annual Top Traders list and presumably, […]

    / Sep 11, 2006 at 10:37 AM
  • Back Dating

    The End of Options?

    Back-dating, spring-loading, bullet-dodging. There are so many ways to run into trouble with timing options grants, the question arises—is it worth it to keep up the practice. At some point the costs of internal controls necessary to ensure nothing underhanded is occurring may exceed the benefit to the company of avoiding cash payouts. Earlier accounting […]

    / Sep 11, 2006 at 10:34 AM
  • Shorter Dealbook

    DealBook, The Abridged Version (9.11.06)

    Crime/Fraud/Legal/Investigations/Inquiries: Would European antitrust regulators permit a Microsoft-Yahoo merger [legal] Despite increase in deals, fewer run into trouble with regulators [legal] NASD looking at trading discrepancies [legal] New Ford chief gets $20 million [legal] More problems at Broadcom [legal] HP still debating whether chairwoman should go [legal] Former Wal-Mart vice president Robert E. Hey Jr […]

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

    Opening Bell: 9.11.06

    HP board drama continues (San Jose Mercury News) The most exciting board scandal of all time continued apace over the weekend, as the board failed to come to a verdict on the fate of Patty Dunn. As Paul Kedrosky put it, it was ‘black smoke‘ out of HP, though by the end of today we […]

    / Sep 11, 2006 at 8:29 AM
  • Write-Offs

    Write-Offs: 09.08.06

    $$$You say ‘hooker’ like it’s a bad thing. [Wall $treet Folly] $$$PUT DOWN THE BOTTLE OF PUBICIDE: SWF seeks “S&M guy” with Swiss Bank Account, crabs. [Craigslist] $$$Carney made us do this. [SF Gate] and this. and this.

    / Sep 8, 2006 at 5:03 PM
  • Hewlett-Packard

    Thomas Perkins Calls In The Feds

    Looks like we’re not the only ones who think the Feds will get involved in the Hewlett-Packard spying case. A former Hewlett-Packard Co. board member has asked U.S. prosecutors, as well as U.S. trade and communications regulators, to review an HP investigation in which directors’ and journalists’ private phone records were accessed. The former HP […]

    / Sep 8, 2006 at 5:01 PM
  • Hewlett-Packard

    Hewlett-Packard’s Spying Is Like Totally Prosecutable

    Take a look at the way the Hewlett-Packard filing describes the use of identity-theft and lying to obtain the telephone records of board members: The Committee was further advised that the Chairman and HP had instructed the outside consulting firm to conduct its investigation in accordance with applicable law and that the outside consulting firm […]

    / Sep 8, 2006 at 4:09 PM
  • Warren Buffett

    Warren Buffett’s Granddaughter: But Is Her Art Any Good?

    You already know that we think Nicole Buffett is cute and bright. And you know what we think of old Warren. So you can imagine how totally crushed we were when a spokesperson for Nicole rebuffed our efforts to interview her. So NPR is good enough for her but not DealBreaker? We’re heartbroken. Since we […]

    / Sep 8, 2006 at 3:13 PM
  • Hewlett-Packard

    Hewlett-Packard’s Next Shoe To Drop: Here Come The Feds

    So far the Hewlett-Packard spying case is being handled by the California Attorney General’s office but DealBreaker expects federal authorities will become involved soon. The Federal Trade Commission has authority to investigate deceptive business practices connected with interstate commerce. Specifically, here’s what Section 5 of the FTCA says: “Whenever the Commission shall have reason to […]

    / Sep 8, 2006 at 2:34 PM
  • Viacom

    Freston Leaves With Tears In His Eyes, Cash In His Pockets

    Yesterday was ousted Viacom CEO Tom Freston’s last day in the office. It was, uhm, emotional. Gawker has some nice pictures up of Freston’s final stroll out the lobby of his office flanked by chanting, applauding and weeping employees. Different pictures up on the Huffington Post. We’re sure it’s a comfort to Tom to know […]

    / Sep 8, 2006 at 1:56 PM
  • News Corp

    Rupert Murdoch’s Deluxe Apartment in the Sky-igh

    You know what totally sucks? When you lay down $44 million for an apartment and two-years later you still find yourself stuck in a renter because the effin’ contractors cannot get it done. Even worse—you’ve got to live in one of those tacky Trump buildings. Gold lettering. Who the fuck does Trump think he is? […]

    / Sep 8, 2006 at 1:02 PM
  • Hewlett-Packard

    H-P Phone Record Ripping Was A Crime

    California’s Attorney General has determined that the H-P phone record ripping indeed violated state law. While state Attorney General Bill Lockyer has determined Hewlett-Packard Co.’s clandestine investigation of its own board members violated the law, he says it’s still unclear whether anyone will be prosecuted. Lockyer said Thursday that the Palo Alto-based company’s gumshoe tactics […]

    / Sep 8, 2006 at 12:25 PM
  • Ask Brock

    Ask Brock Fantasia: INTENSITY!

    [Editor’s Note: It has been suggested that we need an advice columnist for DealBreaker, so we went out an found one. Meet Brock Fantasia.] 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. […]

    / Sep 8, 2006 at 10:40 AM
  • Gambling

    Gambling On A Trip Into US: Not So Much

    So it looks like another top executive of an internet gambling company was arrested on Wednesday. … Peter Dicks, 64, chairman of London-based Sportingbet PLC, was taken into custody by airport police after he arrived on an overseas flight at New York’s John F. Kennedy International Airport. He was held on a criminal warrant issued […]

    / Sep 8, 2006 at 10:15 AM
  • Shorter Dealbook

    Dealbook, The Abridged Version (09.08.06)

    Crime/Fraud/Legal/Investigations/Inquiries: HP spied on reporters as well as board members [legal] Former Merrill brokers set to square off in Texas court [legal] Bernie Ebbers ordered to jail [legal] Grasso out to clear his name not settle [legal] Royal Bank of Canada and Toronto-Dominion Bank may benefit from recent Enron decisions[legal] Ghost of Ken Lay agrees […]

    / Sep 8, 2006 at 9:03 AM
  • Opening Bell

    Opening Bell 9.8.06

    Ebbers Told to Start 25 Years in Prison on Sept. 26 (Washington Post) Worldcom’s Bernie Ebbers has been ordered to prison, starting in just over two weeks. This is the point that reality really has to be sinking in for the guy. He’s probably already felt jealous of Ken Lay at some point. The sentencing […]

    / Sep 8, 2006 at 8:15 AM
  • Write-Offs

    Write-Offs: 09.07.06

    $$$Banker’s Ball goes shirt-shopping in Paris, having obviously been inspired by us. [Banker’s Ball] $$$Are you lost? Unsure of your station in life? Oprah saves the day (again!) with her “What Class Are You?” quizzie, on the heels of her interview with W. Buffett’s granddaughter, Her Grandfather’s A Billionaire But She’s Middle-Class. [via Wall $treet […]

    / Sep 7, 2006 at 5:35 PM
  • CEO, Hewlett-Packard

    HP Spies Hacked Into Reporters’ Phone Records

    This story just keeps getting worse. Now it’s been revealed that the investigators hired by Hewlett-Packard to dig into board room leaks may also have obtained the personal phone records of CNET News reporter Dawn Kawamoto. In Kawamoto’s case, AT&T said that on Jan. 30, 2006, someone used the last four digits of her husband’s […]

    / Sep 7, 2006 at 4:32 PM
  • Frank Quattrone

    Frank Quattrone’s Got Wall Street Veins A-Throbbing

    We’re irrationally exuberant about Frank Quattrone getting back into the game. We almost want to send him our resume and try to sign on for another round deal making. This Fortune article doesn’t do much to quell our excitement. For years the three men were by far the most powerful bankers in Silicon Valley. Both […]

    / Sep 7, 2006 at 3:56 PM

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