June 2007

  • Apple, Consumer Electronics, Wireless Devices

    Options Traders: Betting They’ll Find Marvell In The iPhone Tear Down?

    Call options of Marvell Technology have been trading at four times their usual volume today. Apple’s iPhone is widely rumored to use a wi-fi processor manufactured by a company Marvell bought last year. Shares of Marvell traded up 5.81% for the day, with nearly twice the average number of shares changing hands. One analyst we […]

    / Jun 29, 2007 at 4:37 PM
  • M&A

    Esprit Looking To Eat Smaller, More Fashionable Company

    Our more fashionable little sister site, Fashionista.com, noticed today that Esprit is on the hunt for a small, high-end brand to buy. Despite its powerful earnings and impressive performance of its stock—Bloomberg notes that it is the best performing stock on the Hang Seng index in ten-years—the company’s executives feel the brand lacks a little […]

    / Jun 29, 2007 at 3:07 PM
  • Apple

    iPhone Arrives, No One Notices

    Apple will release the iPhone tonight, but consumers and the media are unanimously apathetic. We just googled “iphone” and received five results, four of which referred to the International Paper Historians eg. “IPH, one group of paper historians…” What little buzz there is for the phone seems confined to NYC, maybe just downtown. This picture […]

    / Jun 29, 2007 at 2:54 PM
  • Bear Stearns, Hedge Funds

    [via The Big Picture]

    / Jun 29, 2007 at 2:43 PM
  • Bear Stearns

    SEC Requests Bear Documents

    CNBC reports that the SEC has asked Bear Stearns to turn over its documents about the investments made by its two hedge funds that nearly collapsed. Bear representatives, Masters o’ PR, have pointed out that inquiry is “informal” rather than full-fledged. But the only reason the investigation is being called “informal” is because Bear Stearns […]

    / Jun 29, 2007 at 2:11 PM
  • Apple, Consumer Electronics, Wireless Devices

    Inside the iPhone: Let’s Gut This Thing!

    Last night we sent DealBreaker intern Scott Bressler to scout the scene at the Apple stores in NYC. In Soho he met the folks at the front of the line, who are broadcasting their standstill adventure at iPhone Launch TV. They plan to be the first to buy the iPhone, which they will auction on […]

    / Jun 29, 2007 at 1:27 PM
  • Tim Sykes

    Tim Sykes Once Lived In A Cramped Dorm Room

    Barbarians at the Gate was a great read but who’s up for a new book by the voice of our generation? By a day trader so great he turned $12,415 in Bar Mitzvah money into a fully audited pre-tax sum of $1.65 million, a writer so wonderful he just might trump Mergers and Acquisitions in […]

    / Jun 29, 2007 at 12:07 PM
  • Bear Stearns, Hedge Funds

    Breaking: Richard Marin Replaced At Bear Stearns

    Movie critic and head of the Bear Stearns the asset-management division that ran the two nearly-collapsed hedge funds, Richard Marin, has been replaced by Jeffrey Lane of Lehman Brothers Holdings. Though Marin will remain an “adviser” to Bear Stearns, he will now have considerably more time to blog. Rich, Rich, Rich. What can we say? […]

    / Jun 29, 2007 at 11:54 AM
  • admin

    DealBreaker Tips: Springing New Leaks Everyday

    One of the great secrets of our success here at DealBreaker is our readership. We have the brightest, wittiest and best informed commenters on the web who help keep our recent comments page always fresh. And our tipsters—often people we have never met who reach out to us through email and phone calls—have helped us […]

    / Jun 29, 2007 at 11:38 AM
  • Carl Icahn, Hank Greenberg

    Carl Icahn and Hank Greenberg: No Time For Golf

    Carl Icahn and Hank Greenberg don’t play golf. And they don’t like executives who do. On Wednesday we went to the Wall Street Journal’s Deals and Dealmakers conference, and while everyone else was frantically scribbling down what Treasury Secretary Hank Paulson said about globalization—hint: he’s for it—we found ourselves more interested in the slightly less, […]

    / Jun 29, 2007 at 10:07 AM
  • BonusBumper

    BonusBumper 2007: The Final Countdown

    Here’s the latest BonusBumper chart. Thanks UBS, for driving down the median. Bonus numbers are starting to roll in, and while there isn’t any speculation on whether bonuses are higher than the amounts listed, there is speculation that they may be a tad lower. It’s also possible that the majority of bonuses have diverged so […]

    / Jun 29, 2007 at 10:00 AM
  • Bear Stearns, Hedge Funds

    James Cayne Is A Good Bridge Player

    What do you do when you’re trying to take the heat off your firm for the near-collapse of two hedge funds, and your last attempt to do so, leaking the fact that the guy in charge of the unit that ran the funds has a blog (hey, look, a blog!) backfired after a few people […]

    / Jun 29, 2007 at 9:51 AM
  • Opening Bell

    Opening Bell: 6.29.07

    Soaring RIM shrugs off iPhone threat (Globe and Mail) Well today is the day: iDay. That’s not a pathetic witticism. That’s literally what Apple is calling today, which is, to be perfectly honest, sort of silly. iDay? Whatever. We walked through the city for awhile yesterday evening, and although we passed a few AT&T Wireless […]

    / Jun 29, 2007 at 7:56 AM
  • Write-Offs

    Write-Offs: 06.28.07

    $$$ The iPhone is too expensive? GET OUT. [Parks Associates via Paul Kedrosky] $$$ The Crime of Losses [Going Private] $$$ MBA finishing school [Banker’s Ball] $$$Tomorrow is D-Day for the phone that does everything.

    / Jun 28, 2007 at 5:13 PM
  • Media

    McClatchy on a block with no name

    McClatchy still won’t comment on its mysterious share price jump since the market opened on Wednesday. That’s right, McClatchy won’t comment on the dearth of company news, the kind of dearth that drives a share price up more than 4% at day’s end. After retracting a bit this morning, McClatchy (NYSE: MNI) shares are up […]

    / Jun 28, 2007 at 4:12 PM
  • Bear Stearns

    Tonight Rich Marin Dines In Hell!

    You know that ‘private’ blog written by Rich Marin, the head of the Bear Stearns group that ran the two hedge funds that have been causing all the trouble lately? Well, thanks to Google’s cache function, it’s a little less private. The cached blog post gives us a peak inside the mindset at the embattled […]

    / Jun 28, 2007 at 3:36 PM
  • Dow, Newspapers, Rupert Murdoch, Wall Street Journal

    MMME (Major Murdoch Meter Event)

    When it came out that Rupert Murdoch and Dow Jones had agreed on a way to preserve the Wall Street Journal’s editorial independence, we naively assumed that a compromise had been reached. In fact, the “agreement” consists of exactly what Murdoch wanted and more, the New York Times is reporting. The details have not been […]

    / Jun 28, 2007 at 3:22 PM
  • NYSE

    New York Stock Exchange Will Remain A Michael Moore Free Zone
    Updated: Or Maybe Not!

    The New York Stock Exchange has banned Michael Moore, saying he is not welcome in the exchange building on Wall Street, CNBC is reporting. The controversial film-maker was scheduled to be interviewed by CNBC’s Maria Bartiromo at 3 PM today. Moore’s latest film “Sicko” is critical of the health care system in the United States, […]

    / Jun 28, 2007 at 2:49 PM
  • Fed

    UPDATE: Fed rate unchanged

    The Fed has kept the bank lending rate at 5.25% for the eighth straight meeting, in an announcement made at 2:15pm today. Economic growth appeared to moderate opposed to slow, which is better news than expected. The market today has been cautiously higher in anticipation of no surprises. Stocks Inch Higher Ahead of Fed [Wall […]

    / Jun 28, 2007 at 2:00 PM
  • banking culture, Hedge Funds

    Why Won’t You Just Conform?

    We like our men in blue shirts and black pants, as opposed to ensembles reminiscent of “high-end gigolos populating the piazzetta in Capri.” So the news that the new uniform of (mostly) hedgies and (some) investment bankers alike is comprised of $700 cotton poplin trousers (Bottega Veneta), $250 flip-flops (Hermès) and $20,000 satchels in matte […]

    / Jun 28, 2007 at 1:46 PM
  • Goldman Sachs

    Unorthodox Landscape Architect Gets Goldman Promotion

    Marc Spilker has been named COO of the investment management division of Goldman Sachs (he will not be replacing Eric Schwartz, who recently announced he would be stepping down as co-head of asset management, as rumored earlier this week). Spilker will retain his role overseeing alternative-investments.

    / Jun 28, 2007 at 1:04 PM
  • Banks, Email of the Day, JPMorganChase

    Hoax Email Claims Banker Quit
    But He Tells Us He’s Still At Work

    The latest email making the rounds through investment banking circles is a bridge burning farewell from a young banker. “I have been fortunate enough to work with some absolutely interchangeable supervisors on a wide variety of seemingly identical projects – an invaluable lesson in overcoming daily tedium in overcoming daily tedium in overcoming daily tedium,” […]

    / Jun 28, 2007 at 12:38 PM
  • Goldman Sachs

    Lloyd “Don’t need no stinking badges” Blankfein, Ho!

    Separated at birth? Lloyd Blankfein, Goldman Sachs CEO; Pancho Villa, Leader of the Mexican Revolution; Snarf, Thundercats (Ho!)

    / Jun 28, 2007 at 11:27 AM
  • Starbucks

    Starbucks – Venti Film Aspirations, Tall Results

    “Um…why is my Grande Mocha (with extra whip) asking me to spell ‘sardoodledom’?” pretty much sums up Starbucks’ first film promotion venture. Last year, Starbucks Entertainment (and here I thought Starbucks Entertainment is the laughter that ensues when the cashier asks for $5 in exchange for a cup of coffee) promoted the film “Akeelah and […]

    / Jun 28, 2007 at 11:21 AM
  • taxes

    Unbreaking: Bush Not A Fan Of Taxes

    With regard to a House bill that would swap the much-loved 15% tax rate loophole for a staggering 35%, White House flak Tony Snow said Wednesday that Bushie will veto any and all attempts to increases taxes on hedge funds y buyout firms. Snow, never afraid to go where no one else will, noted that […]

    / Jun 28, 2007 at 11:20 AM
  • News

    Goldman Sachs Morgan Stanley Banker Prefers Dinner Over Sex With Blackstone Debutante Novelist

    Remember that big party we got thrown out of? Apparently it devolved into something of a roast of Holly Peterson, the daughter of Blackstone Group co-founder Pete Peterson. At one point the “stone” himself joined in, saying his daughter is “the most egregious self-promoter in America.” But the rich really are different. As they say, […]

    / Jun 28, 2007 at 10:29 AM
  • Hedge Funds, Subprime Mortgages

    Another day, another subprime blowup

    The London-listed $908mm Caliber Global Investment fund managed by Cambridge Place Investment Management LLP is liquidating its remaining assets and shutting down within the year. The culprit – a majority of the fund is invested in US mortgage backed securities. Former Goldman bankers Martin Feingold and Robert Kramer founded Cambridge Place in 2002. The Caliber […]

    / Jun 28, 2007 at 10:15 AM
  • Carl Icahn

    Carl Icahn: I Tried To Short Blackstone

    Carl Icahn tried to short the stock of the Blackstone group immediately after its IPO, the billionaire “corporate raider” told an audience at a conference sponsored by the Wall Street Journal. “I tried to borrow the stock but I couldn’t do it in time,” Icahn said. After he spoke to the conference, Icahn asked reporters […]

    / Jun 28, 2007 at 9:02 AM

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