February 2007

  • Write-Offs

    Write-Offs: 02.28.07

    $$$The Problem With Planting Spyware. [gary-weiss.com] $$$We Know These Wings, Will Make You Happy – Trump In [SuperMogul] $$$Blackberry Shoot-Out (RIMM) [WallStrip]

    / Feb 28, 2007 at 5:55 PM
  • Specialists

    The Death of The God of The Closing Bell, Day II

    Specialists at certain posts on floor of the New York Stock Exchange have been told not to close up shop yet, according to NYSE CEO John Thain, who spoke moments ago to CNBC’s Maria Bartiromo and Bob Pisani. It seems that the floor trader nightmare we described last night as “the death of the God […]

    / Feb 28, 2007 at 4:28 PM
  • Market Plunge, Wall Street Warriors

    Explaining The Markets, With Tim Sykes

    When it rains, it pours, as they say. Yesterday we treated you to a little update on everyone’s favorite Wall Street Warrior, Tim Sykes. Today, he was good enough to offer us some insight on The Dow, Punxsutawney Phil, and his friend/housekeeper’s feelings on the scrutiny the media’s placed him—the housekeeper—under, of late. Let’s talk […]

    / Feb 28, 2007 at 4:22 PM
  • Market Plunge, Reader Poll

    What Caused Yesterday’s Plunge? A DealBreaker Reader Poll.

    You called today’s market-action correctly in this morning’s Reader Poll, reading the early signs of morning rise as an indicator that the Dow would close up for the day. It’s up nearly sixty points as we post this item. Good work! So now we’ll turn to you to answer the only remaining pressing question of […]

    / Feb 28, 2007 at 3:56 PM
  • Business Media, Market Plunge

    Fool’s Errand: The Folly Of Explaining The Causes Of Market Movements

    One of the things we avoid like the plague (and other clichés!) over here at DealBreaker headquarters is trying to explain the markets. Sure, we’ll link to an entertaining or surprising analysis. Say, like this one on Gawker from banker-turned-novelist Dana Vachon. But we don’t put much stock in the business of journalists explaining why […]

    / Feb 28, 2007 at 3:43 PM
  • Market Plunge

    What Really Caused the Plunge: The Gossip Kids Are Thinking Butterflies

    With nobody quite sure as to what happened yesterday—was it a ‘Glitch’? Two? Ten? Elves? Ben Bernanke, a couple of Quaaludes and a voodoo doll?—we figured it would be best to turn to a media and celebrity gossip site called Gawker.com for some answers (who do you think got us to understand Enron, huh? The […]

    / Feb 28, 2007 at 3:11 PM
  • Glitch, Market Plunge

    The Great Glitch Story Not Getting A Great Reception

    Some of the wiser voices on the internets are pointing out that the Great Glitch story-line doesn’t exactly pass the smell test. Eddy Elfenbein at Crossing Wall Street says: One more word about yesterday: The sell-off was not caused by a computer glitch. The sell-off was already happening. The glitch was in the accurate reporting […]

    / Feb 28, 2007 at 2:06 PM
  • Corporate Governance, Hewlett-Packard, Tom Perkins

    The Costs of Compliance: Too Few Geeks

    We’ve noted before that the faddish devotion to compliance-oriented corporate governance—encouraged by everything and everyone from Sarbanes-Oxley, it’s attendant regulatory schema, some of the more opinionated-parts of the business press and the reigning corporate governance gurus—has serious costs that are all too often ignored. The whole corporate-spying pretexting scandal at Hewlett-Packard was probably the public […]

    / Feb 28, 2007 at 2:00 PM
  • Market Plunge

    Traders in the State of Nature

    [Cross-posted from the original on SuperMogul.] “Where were you the day the market sort of blipped?” isn’t necessarily an inappropriate question, considering the ‘once in every half-decade or so’ nature of yesterday’s “correction.” We’ve amassed some accounts of the bloodbath and its aftermath. It does kind of sounds like some sort of Civil War recount […]

    / Feb 28, 2007 at 1:34 PM
  • Electronic Trading, Exchanges, Glitch, Market Plunge, NYSE, Specialists

    The Vinnys Fight Back!

    Color us skeptical when it comes to all the blather blaming yesterday’s sell-off on a computer glitch. Or glitches. Why? Because it seems the main thing that caused the computer glitch was so many sell-orders pushing through the system at once. If selling caused the glitch, how could the glitch cause the selling? Okay, maybe […]

    / Feb 28, 2007 at 12:40 PM
  • Electronic Trading, Glitch

    One Glitch? Two Glitches? Three Glitches? Floor Glitches?

    We’ve been trying to get to the bottom of exactly how many of these so-called computer “glitches” affected the market reporting and trading systems yesterday. Immediately after close, the Dow Jones Company was reporting one “glitch” in the system that calculates the various Dow Jones indexes while NYSE and NASDAQ were remaining mum. But our […]

    / Feb 28, 2007 at 12:08 PM
  • Ben Bernanke, CNBC

    Bernanke: “Dow Drop? No Biggie. Social Security? RUN FOR YOUR LIVES”

    If any of you out there coping with major losses as a result of that thing that happened yesterday were looking for a shoulder to cry on in the form of our Chairman of the Federal Reserve, keep looking. The Beard of Reasoning told Congress this morning that the U.S. financial markets are functioning normally […]

    / Feb 28, 2007 at 11:46 AM
  • Business Media, Wall Street Journal

    Jumping The Wall At The Wall Street Journal

    Way back in January we broke the news that Wall Street Journal op-ed editor Tunku Varadarajan was breaking through the paper’s version of a Chinese Wall, moving from the editorial to the news side. Today the New York Observer‘s Michael Calderone explains why this is such a big deal to people who think this sort […]

    / Feb 28, 2007 at 11:27 AM
  • Bears, Market Plunge, video

    Bear Raid On Wall Street

    You really don’t need an explanation for this video, do you?

    / Feb 28, 2007 at 11:16 AM
  • Market Plunge

    My Life Is Over

    I’d like to break from the royal “we” for a moment because I need to get something pretty serious off my chest. I woke up this morning in a cold sweat, my heart pounding and an overwhelming sense of dread coursing through my body. Could it be possible that I’d lost everything? All my money, […]

    / Feb 28, 2007 at 10:50 AM
  • Market Plunge

    Larry Summers Was Right!

    Those of you who miss Keith Hahn‘s writing on DealBreaker will probably want to head on over to our little brother SuperMogul, our site for c-level executives and people who aspire to view the world from the corner office. Here’s Keith on Larry Summers Nostradamus act at Davos: Maybe women are naturally bad at math […]

    / Feb 28, 2007 at 10:15 AM
  • Apple, Back Dating, legal, McAfee, Steve Jobs

    Another Backdating Indictment: McAfee’s Former General Counsel Charged

    The former general counsel of McAffee yesterday became the eleventh person charged with criminal offenses related to stock-options backdating. The feds have said they are examining some 140 companies for backdating but its not hard to see why McAffee’s former general counsel ended up high on its lists for criminal indictments. First, McAffee was an […]

    / Feb 28, 2007 at 9:45 AM
  • Market Plunge, Reader Poll

    The Dow Jones: Up, Down or Flat?

    The question of the hour is “which way is the market headed today?” The answer is obviously “no-one really knows.” But don’t let ignorance stop you from making your opinion heard. Let us know where you think the market will end up at the closing bell today. We’ll keep this poll open until around noon. […]

    / Feb 28, 2007 at 9:18 AM
  • Market Plunge

    Stock Market Plunge Special Edition: More Coverage, Real Reporting And Some Drinking

    Last night we stayed up late drinkingworking to bring you some extra coverage on the extraordinary plunge in the major market averages. Since many of you probably don’t read past the “Opening Bell” in the morning, here’s a quick guide to the afterhours posts. • Moments of Terror. A trader tells us what it felt […]

    / Feb 28, 2007 at 9:01 AM
  • Opening Bell

    Opening Bell: 2.28.07

    Shanghai Shares Rebound Nearly 4 Percent (Forbes) Now that the world takes its cues from the Shanghai stock exchange, we might as well keep leading off with its performance. After looking like it might plunge again — it fell 1.3% on the open — shares rebounded, leading to gains of 4%. The government did its […]

    / Feb 28, 2007 at 8:10 AM
  • Market Plunge

    Market Plunge Special: Send Us Your Stories!

    Markets is Asia are opening down. Tokyo down. Shanghai opening down. There’s some talk that Shanghai shares might rally. You can almost hear the sounds of all those fingers of the bulls in the China shop crossing. And that will just about wrap things up for tonight’s special Market Plunge coverage. But we still want […]

    / Feb 27, 2007 at 10:06 PM
  • Market Plunge

    CNBC Coverage Of Today’s Plunge: The Full 5 Minutes

    [Thanks to TVNewser for putting the video up on YouTube.]

    / Feb 27, 2007 at 9:03 PM
  • Market Plunge

    Moments of Terror: A View From The Trading Desk

    It was a day that went from ordinary to absolutely terrifying in a matter of seconds, according to a trader who spoke with DealBreaker earlier tonight on the condition that we not identify him or his workplace. The giant plunge in the stock market averages late on a chilly Tuesday afternoon had traders wondering if […]

    / Feb 27, 2007 at 8:04 PM
  • Market Plunge

    NYSE: Pay No Attention To That Thing That Happened Right Around 3:00 PM. It Was Glitch

    We just finished having a couple of cocktails with some guys who work on the floor of the New York Stock Exchange. And when we said we had a couple we mean we had a couple while our trader friends downed the drinks as fast as the barkeep at Harry’s would refresh them. In fact, […]

    / Feb 27, 2007 at 7:03 PM
  • Market Plunge

    DealBreaker Afterhours: Special Market Plunge Edition

    Usually the publication of “Write Offs” signals an end to our day here at DealBreaker. We’re already down the street in the bar, struggling to make the most of whatever is left of happy hour, by the time it gets posted on the site. (Sometimes we make Bess stick around to answer unread emails and […]

    / Feb 27, 2007 at 6:53 PM
  • Write-Offs

    Write-Offs: 02.27.07

    $$$Two hood girls for one hot i-banker? Plus madlibs? [Craigslist] $$$Get Your Gekko On [Banker’s Ball] $$$Madlibs for The Market of February 27th, 2007 [Long or Short Capital] $$$Lindsay finds out how to lock it down without wrapping it up. [WallStrip]

    / Feb 27, 2007 at 5:49 PM
  • Hedge Funds

    Fight Club

    One of the most important rules of warfare is to “know thine enemy’s tactics.” For instance, we know that John Thain is known to keep brass knuckles handy. As such, it is best to approach him in full chain mail and a goalie’s mask. Clearly, this message is lost on Tom O’Brien, who is locked […]

    / Feb 27, 2007 at 5:29 PM
  • Private Equity

    Public Policy + Private Equity = Profits!

    Just in case we were feeling that our earlier posts about private equity profiting from public policy sounded a tad, well, paranoid, Steve Schwarzman said a few reassuring words at that big private equity con-fab in Germany to reassure us that just because we’re paranoid doesn’t mean the private equity guys are making a bundle […]

    / Feb 27, 2007 at 4:47 PM

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