September 2006

  • Shorter Dealbook

    DealBook, The Abridged Version (9.19.06)

    Crime/Fraud/Legal/Investigations/Inquiries: KPMG suing former employees seeking compensation for costs of tax shelter law suit [legal] CA may recover some money lost to executives in accounting scandal [legal] The story of how the court approved overseer came to recommend Bristol-Myers Squibb dismiss its CEO [legal] Ex-Enron executive gets sentenced to two-and-a-half years [legal] Now Europe is […]

    / Sep 19, 2006 at 8:52 AM
  • Opening Bell

    Opening Bell: 9.19.06

    Retailers See Strong Sales for Holidays (NYT) Chalk it up to season creep. We’re barely out of Summer Driving Season, and we’re already talking about Winter Shopping Season, the time when people of all faiths go deep in to debt to buy junk for their loved ones. The more cynical among us might even describe […]

    / Sep 19, 2006 at 8:27 AM
  • Write-Offs

    Write-Offs: 09.18.06

    $$$National Lampoon on Ken Lay’s last day. (Obviously, somewhat of a conflict of interest for us, considering the fact that we’ve got proof that K-Lay’s alive and well and adding pictures to his Flick’r account from the Jersey shore). [Wall Street Folly] $$$Clubs slightly more exclusive than the West Garden Spa, but with same amenities. […]

    / Sep 18, 2006 at 5:26 PM
  • Hedge Funds

    As It Turns Out, Talk of Increased Hedge Fund Regulation Increases Hedge Fund Political Donations

    We once had dinner with a cynical old man who told us that one of the main purpose of legislative hearings was to solicit political donations from the industry being scrutinized. The same guy also told us that it was wrong to think of regulatory agencies as being captured by special interests over time. Those […]

    / Sep 18, 2006 at 4:43 PM
  • Banks

    Goldman Sachs Tops List of Banking Employers

    The Vault.com’s annual employer survey is out. They interviewed 600 bankers and produced a list of the the top 50 banks. The top ten: Goldman Sachs Morgan Stanley The Blackstone Group Citigroup’s Global Corp. & Inv. Bank J.P.Morgan Chase Merrill Lynch Lehman Brothers Citigroup Credit Suisse First Boston Lazard Click here for the entire list. […]

    / Sep 18, 2006 at 4:29 PM
  • SAC Capital

    Trying to Think Like Stevie Cohen

    The Steven Cohen profile we mentioned earlier is not surprisingly drawing increased attention to Cohen’s investments. One of the first things we did after reading the story was pull up the SEC website and search for filings disclosing SAC investments. (Ed: Hey—maybe this is the whole reason Cohen opened up to the journal, because he […]

    / Sep 18, 2006 at 2:48 PM
  • Warren Buffett

    Warren Buffett’s King David Act

    Warren Buffett is in Israel now, touring the facilities of Iscar Ltd., the metal-cutting tools company his investment company acquired for $4 billion two-and-a-half months ago. The company is located near the Lebanese border and was briefly shuttered during the recent outbreak of warfare there. Buffett has reserved the entire King David Hotel in Jerusalem […]

    / Sep 18, 2006 at 2:31 PM
  • SAC Capital

    Steven Cohen’s Mommy Issues

    When we started this thing over here at DealBreaker, one of our metrics for determining whether the existing financial journalism was doing a good job was whether or not people knew the name Steven Cohen. A man whose hedge fund, SAC Capital, can be responsible for up to 2% of all Wall Street trading activity […]

    / Sep 18, 2006 at 12:47 PM
  • traders

    Meet Brian Hunter, Head of Amaranth Energy Trading Desk

    So who is this Brian Hunter we mentioned in the previous item about the huge losses at Amaranth Advisers? We haven’t been able to track down a picture of him yet but we’ve collected some details on young man who came to head his fund’s energy trading desk at the age of thirty-two. Earlier this […]

    / Sep 18, 2006 at 11:31 AM
  • Hedge Funds

    Amaranth Gets Hammered By Natural Gas

    Bad bets on natural gas have led to giant losses at Amaranth Advisers, CNBC’s David Faber is reporting this morning. Until August, the Greenwich, Connecticut hedge fund so its assets grow 22% this year, to around $8 billion. Now its natural gas trading has the fund down 35% . Faber also reports that Amaranth is […]

    / Sep 18, 2006 at 10:29 AM
  • banking culture, The Commute, Town Car

    The Lincoln Town Car Will Survive

    At least for now. Ford has announced that it will continue production of Wall Street’s favorite chariot, moving production to Canada when it shutters a Michigan plant where the car had been produced. So it looks like we won’t all be confined to Goldman Sachs-style hybrids just yet. Oh Happy Day: Town Car Keeps Rollin […]

    / Sep 18, 2006 at 9:27 AM
  • Shorter Dealbook

    DealBook, The Abridged Version (9.18.06)

    Crime/Fraud/Legal/Investigations/Inquiries: Aeneas Capital Management under investigation by regulators in the U.S. and Malaysia [legal] Refco creditors will receive about $2.1 billion out of $3.6 billion owed [legal] Judge allows AIG lawsuit against Hank Greenburg to go forward [legal] M&A: [? = not yet closed, problems with the deal, lingering questions, etc.] Ford + GM: ? […]

    / Sep 18, 2006 at 9:04 AM
  • Opening Bell

    Opening Bell: 9.18.06

    US Treasury chief backs strong dollar (AFX) As we’ve said before, we’ve never been quite sure what the Treasury Secretary really does other than to jib-jab, jibber-jabber, and jawbone the dollar. If that were his job description, for real, it would explain why most articles about anyone in that position concern their opinion of the […]

    / Sep 18, 2006 at 8:22 AM
  • Write-Offs

    Write-Offs: 09.15.06

    $$$Jim Cramer’s bobblehead dolls are the 3rd most popular item on NBCUniversalStore.com, which he no doubt has us to thank for. Buy yours while you still can. [Page Six] $$$Throw this gem in the cart too, while you’re at it. $$$Swiss Re building for sale, DealBook taking liberties with synonyms for male genitalia. [DealBook] $$$Suits. […]

    / Sep 15, 2006 at 4:42 PM
  • CNBC

    CNBC: What’s Happening To My Body?

    We’re not really ones for CNBC. We interned there a few summers ago on the wildly successful “McEnroe Show” and caught a glimpse of Maria up close without her make-up on one time and kind of got turned off to the whole thing entirely. Later, after the trauma counseling, we tried to force ourselves into […]

    / Sep 15, 2006 at 3:13 PM
  • Hilton Hotels

    Hilton Expands in China, Paris’s Asian Fetish Sated

    Following the merger of its US and British hotel division, Hilton Hotels has started to identify partners in China, as part of its much hyped international expansion. Co-chair and chief executive Steve Bollenbach said that the company is aiming for a 7% growth, with its focus on development in China, India and Eastern Europe. President […]

    / Sep 15, 2006 at 2:22 PM
  • Dick Grasso

    Grasso Makes It Personal (With Us)

    In a move that we find to be offensively below the belt, as it were, Dick Grasso tried unsuccessfully yesterday to remove Judge Charles E. Ramos– Chuckles, to us– from his trial versus New York attorney general, Eliot Spitzer. Pint-size Dick (seriously, the guy’s like 5’2″) claimed that Ramos was too involved in the case, […]

    / Sep 15, 2006 at 1:52 PM
  • Credit Suisse, Segway

    Segways Recalled, 30-45 Year Old Boys Everywhere Cry Selves To Sleep

    For the second time since they went on sale in 2002, Segway’s Personal Transporters (née Segway Human Transporter) are being recalled, due to software failure. The U.S. Consumer Product Safety Commission has said that the vehicles should stop being used immediately, as the wheels may suddenly reverse direction, causing riders to fall off. To date, […]

    / Sep 15, 2006 at 1:28 PM

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