December 2006

  • Shorter DealBreaker

    Shorter DealBreaker

    NYSE to Close in Ford’s Honor (WSJ) We grew up believing that Gerald Ford was at best a joke and at worst an enemy. It’s still hard to not think of Chevy Chase’s pratfalls when we hear his name. And his choice of liberal Republican plutocrat Nelson Rockefeller as vice-president marked him as not only […]

    / Dec 29, 2006 at 11:59 AM
  • Shorter DealBreaker

    Shorter DealBreaker

    Bernanke Recovers From Missteps to Earn Inflation Credibility (Bloomberg) After early doubts about the Fed chief’s commitment to fighting inflation and charges that he was too candid about policy, investors are now giving the 53-year-old Bernanke a vote of confidence. The yield on the benchmark 10-year Treasury note has fallen to 4.65 percent — from […]

    / Dec 28, 2006 at 11:58 AM
  • Shorter DealBreaker

    Shorter DealBreaker

    Dow Runs to New Record (The Street) Despite light trading, the Dow closed at a new record today, finishing at 12,511, thanks to gains in Alcoa, Citigroup, and GM. Over the past two days, only 1.67 billion shares were traded on the NYSE, while the NASDAQ only traded 1.24. Tomorrow could be the last day […]

    / Dec 27, 2006 at 5:00 PM
  • Shorter DealBreaker

    Shorter DealBreaker

    Ex-Trader Tells Story as a Warning (NYT) After you’ve lost $1.3 billion in Japanese stock futures and bonds, run your employer into the ground, provoked the ire of the Queen of England and served four years in prison, there isn’t much left to check off on the Things To Do Before I Die list, save […]

    / Dec 26, 2006 at 3:00 PM
  • Holiday Party

    Merry Christmas!

    / Dec 25, 2006 at 10:53 AM
  • admin

    Happy Holidays

    DealBreaker will be on a reduced publishing schedule this week. We’ll be doing once-a-day news wrap-ups and the DealBreaker trifecta, Bess, Joe and Carney will return on January 2nd. Happy Holidays from everyone at Dead Horse Media.

    / Dec 25, 2006 at 6:38 AM
  • Write-Offs

    Write-Offs: 12.22.06

    $$$The Holiday Emergency List [Banker’s Ball] $$$“I collect stamps, coins, and stones. And i have 6 cats…You should e-mail me.” [Craigslist] $$$ How to get an A on your 13-D. [Long or Short Capital]

    / Dec 22, 2006 at 4:14 PM
  • bonuses, video

    Blowing Your Bonus With LX.TV

    DealBreaker spent some time with LX.TV up at the World Bar at the Trump World Tower.

    / Dec 22, 2006 at 11:34 AM
  • Ron Perelman

    Ron Perelman Still Hearts Anna Chapman

    The race to be Ron Perelman’s fifth wife is still on, but Anna looks to be well in the lead. Ronald Perelman is back with blond psychiatrist Anna Chapman, but there’s another blonde on the scene. The Revlon billionaire had lunch Tuesday at Fred’s with Elisabeth Roehm , who played the hot prosecutor in “Law […]

    / Dec 22, 2006 at 11:00 AM
  • Bear Stearns

    Bear Stearns Hands Cayne $34 Million

    It might be hard to remember, but there was a time when James Cayne, the chief executive of Bear Stearns, enjoyed one of the biggest compensation packages on Wall Street. These days he barely qualifies for the finalist round, coming in with barely $34 million in total compensation. It’s a wonder the man can make […]

    / Dec 22, 2006 at 10:06 AM
  • J.Crew

    Is There A Special J.Crew Color For Wrecked?

    Ouch. So that’s what “unlimited upside risk” means. It never pays to bet against Santa Claus, especially around Christmas. The same could be said, for that matter, for retail legend Mickey Drexler, too. Hordes of investors lost their shirts by gambling that the stock price of Drexler’s embattled casual-clothes chain J. Crew would tumble in […]

    / Dec 22, 2006 at 9:36 AM
  • Hedge Funds

    Connecticut Is A Very Busy Place

    Gawker reveals a help wanted ad for the hedge fund manager who has everything, except the time to raise hir or her own children. A managing partner of a rapidly expanding $4 billion hedge fund (a multi-strategy credit opportunity fund that specializes in credit analysis and credit-related investments) located in Southern Fairfield County, CT is […]

    / Dec 22, 2006 at 8:59 AM
  • Write-Offs

    Write-Offs: 12.21.06

    $$$Mark Cuban thinks Donald Trump is a “chump.” [Blog Maverick] $$$A Home for Wall Streeters (Who Appreciate Beaver) [Banker’s Ball] $$$The Mad Money Mensch [Business Week] $$$The Totally Outsourced Hedge Fund Manager [Gawker]

    / Dec 21, 2006 at 5:38 PM
  • News

    Email of the Day: On The Poverty of Journalists

    Normally, we try not to focus too much on the lives of journalists. But since we kind of made the “poverty of journalists” part of the bonus story with our quote in AM New York, we’ll stretch our editorial scope a bit further in that direction in order to provide a bit of evidence to […]

    / Dec 21, 2006 at 4:59 PM
  • bonuses

    Banning Investment Banking In NYC

    This is the stupiest thing we’ve read all day. “I wish I could pass some law restricting bonuses,” said Councilman Charles Barron (D-Brooklyn), “or mandate that you have to give some money back to the people who made you rich in the first place.” The councilman called Blankfein’s $53.4 million bonus, “capitalist greed at its […]

    / Dec 21, 2006 at 3:59 PM
  • Merrill Lynch

    Merrill Re-Ups On Jersey City Space

    Merrill Lynch & Co. Inc. (NYSE: MER) inked a long-term lease extension and expansion in the Colgate Center, at 101 Hudson St. in Jersey City, NJ. The international wealth management firm now occupies 236,350 square feet within the 42-story, Mack-Cali Realty Corp. (NYSE: CLI) office tower. The 1.24 million-square-foot, Class A building sits in the […]

    / Dec 21, 2006 at 2:16 PM
  • admin, CNBC, Quote of the Day

    Quote of the Day: Eddy Elfenbein, Telepath

    “I watch CNBC in my office with the sound muted. Strangely, even with no sound, I can always understand what Rick Santelli is saying.” –Eddy Elbenbein, Crossing Wall Street. [Editor’s Note: Every now and then we like to call a feature “… of the day.” You know, like “Deal of the Day” or “Stock of […]

    / Dec 21, 2006 at 2:09 PM
  • Hedge Funds, Private Equity

    A Home For Multistrategy Global Fund?

    The Street reports that Coller Capital, a private-equity firm in London, may buy $1 billion in assets from Ritchie Capital’s flagship hedge fund. RC announced last week that it would refund 80% of clients’ money over the next 2 1/2 years and keep the fund open for at least three, after suffering “unforseen circumstances” (the […]

    / Dec 21, 2006 at 1:18 PM
  • bonuses

    Bonus Backlash: More Media Envy

    Noel Sheppard at the Business & Media Institute runs through a long list of media outlets running envy-evoking boom year bonus stories. The worst offenders: NBC, the Washington Post, and the Boston Globe, according to Sheppard. Evoking envy is certainly not a new affectation for the media. In fact, the class warfare card is regularly […]

    / Dec 21, 2006 at 11:47 AM
  • Wall Street

    Police Shooting Protest Comes To Wall Street

    If your office is anywhere near the financial district, prepare to be inconvenienced by the incursion of New York City’s still-imitating-the fiction-of Tom-Wolfe racial politics at noon today, when the moveable Sean Bell protest hits Wall Street. After thousands of protesters filled the city’s famous Fifth Avenue, activists angry about a fatal police shooting have […]

    / Dec 21, 2006 at 10:35 AM
  • bonuses, Business Media

    Bonus Backlash: Journo Envy Explained

    We spoke to AM New York‘s Justin Rocket Silverman yesterday about what fuels the media’s bonus backlash. You can find the story in the hands of people who lurk just outside your subway station. Our contribution: In New York City alone, securities employees will earn almost $24 billion in bonuses this year. Those bonuses are […]

    / Dec 21, 2006 at 10:28 AM
  • business school, sex

    LSE Leaves Its Mark On Monica Lewinsky

    The English have a strange thing for Monica Lewinsky, and vice-versa. Maybe it’s just that they’ve got their own sex scandals to worry about, scandals involving genuine royals, and can’t be bothered to worry about whether the president of the United States was messing around with a White House interns. We actually ran into Monica […]

    / Dec 21, 2006 at 10:01 AM
  • Business Media

    Get rich or die trying, indeed.

    via our boys at Complex.

    / Dec 21, 2006 at 9:30 AM
  • Citicorp, Goldman Sachs, league tables

    M&A League Table Cage Match

    Thompson Financial published the M&A league tables yesterday, just on the heels of the bonus mania for the past couple of weeks. Outsiders may not appreciate just how seriously the investment banks take these rankings. Seriously enough to ignite a vicious fight and engage in all sorts of chicanery in an attempt to get big […]

    / Dec 21, 2006 at 9:03 AM
  • News

    Opening Bell: 12.21.06

    Sponsored by FedEx 2Q Profit Up, Share Price Falters (Forbes) So goes FedEx so goes the nation. That’s the saying right? So revered is FedEx as the ultimate bellwether for the US economy, that apparently top economists and fed governors like to consult with FedEx management about the trends they’re seeing. You know, it […]

    / Dec 21, 2006 at 7:57 AM
  • Write-Offs

    Write-Offs: 12.20.06

    $$$Nouveaux Hedgie Riche Make the Just Wealthy Feel Bad. But Who Are They Really? [Banker’s Ball] $$$Relationship exchange rates. [Long or Short Capital] $$$Going Private takes out her red pen. [GP]

    / Dec 20, 2006 at 5:38 PM
  • Exchanges, NYSE, traders

    More Rumbling On Wall Street

    The New York Post reports on yesterday’s NYSE trading floor brawl: Veteran floor trader Bob Tomasulo, a 57-year-old grandfather, was assaulted and barraged with obscenities in front of stunned co-workers after kidding with Stephen Mara about the Giants’ embarrassing 36-22 loss to the Philadelphia Eagles on Sunday, witnesses and Tomasulo told The Post. “Mara started […]

    / Dec 20, 2006 at 4:07 PM

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