Happy Columbus Day!

Coumbus Day 1.jpgThrough the early morning mists of October 12th, 1492, a sailor on board the Spanish vessel Pinta looked out toward the horizon and saw land land. The next day, the 90 crew members of Christopher Columbus's three-ship fleet ventured onto the Bahamian island he called San Salvador, ending a voyage begun nearly ten weeks earlier in Palos, Spain.

The twelfth day of October is celebrated throughout much of the Americas, particularly the Spanish speaking nations. But in the United States this year we celebrate Columbus Day on October 8th because the federal government prefers it that way. Which brings to mind Ambrose Bierce's quip that "History is an account, mostly false, of events unimportant, which are brought about by rulers mostly knaves, and soldiers mostly fools."

When it comes to holidays, at DealBreaker we usually take our instructions from the New York Stock Exchange. Except our publisher, who seems to have a special reverence for either Columbus or three-day weekends or the bond market, has declared that on this occasion we shall take our cue from Franklin Delano Roosevelt (who made Columbus Day a national holiday) and Richard Nixon (who declared that it would always fall on the second Monday in October). So last night we dutifully went down into the bowels of the Knights of Columbus hall on the far side of Prospect Park, and raised many a bottle in honor of Columbus and his great achievement, nothing less than bringing America to the attention of western civilization. In a strange twist, our drinking companions were firemen and cops who cheered for the Cleveland Indians to beat the Yankees.

We'll open up this comment thread so that our readers can comment on the financial news of the day in our absence. Another way of showing our appreciation and trust in our readership. Feel free to show our publisher that we're irrelevant and the site can keep going even without writers and editors!

Money may never sleep but on this special Monday the DealBreaker team will. Tonight we celebrate the spirit of Columbus with a good bottle of Italian red, perhaps a Fontodi. We return tomorrow for our usual mischief.

Update: It just occurred to us that today might be a great day for our newer readers to browse through our archives and see why everyone is talking about DealBreaker. Long-time readers might want to catch up on some of our classics. One year ago today, for instance, we discovered that some Yale Student improbably named Aleksey Vayner had sent a link to his video resume along with his regular, paper and ink resume. And a legend was born.

Update II: The nice folks over at TheStreet.com were kind foolish enough to invite us over for a wine tasting. We were joined by some very lovely women and everyone's favorite former hedge fund manager, Tim Sykes. Thanks TSC. And to the ladies, we're sorry we drank so much and acted that way. But the wine was terrific, you were beautiful, and we couldn't help ourselves!

Update III:
More news from the mating market. The New York Times picks up the trail of the author of last week's response to the Craig's List girl who is now-known as Miss Golddigger. But they come up with nothing but denials. The hunt continues! (Oh, hey! If you are the author, or know who is, please contact us. We'd love to interview you. And, don't worry, we'll protect your identity with everything we've got!)

Update IV:
It's our day off. So why are we updating so much? We miss you!

Update V:
For all our Canadian reader s , happy Thanksgiving! If you are unfamiliar with this holiday, you can read here all about how it originated, was transformed by loyalists who fought against the American revolution, and later was moved by the government from its traditional date to the second Monday in October.

Comments

Posted by , Oct 08, 2007 11:00AM

9:47AM my ass

Posted by , Oct 08, 2007 11:01AM

What did Carney know about Keith and when did he know it?

Posted by KLW, Oct 08, 2007 11:07AM

This explains so much about last night, Ms. Levin :)

Posted by Anonymouse, Oct 08, 2007 11:16AM

Suggested headlines for DB's return tomorrow:

DEALBREAKER SLEEPS WITH FIXED INCOME FISHES WHILE DOW PLUNGES 500 POINTS

HORSELESS HEAD FOUND IN TOPLESS BAR

CARNEY, LEVIN GO TO THE MATTRESSES

Other suggestions, DB readers?

Posted by Anal_yst, Oct 08, 2007 11:22AM

Google crosses $600 today briefly, very interesting. AAPL & RIMM all very close to highs, and VG conveniently up 75%. WTF?

Even stranger (more strange, whatever), Fairfax Holdings (FFH) up ~30% since mid August. Look into whats goin on @ the company and something definitely is not right...

Posted by Headline Guy, Oct 08, 2007 11:46AM

"Famous Financier Changes Career, Gets RIMM Job"

Posted by JT, Oct 08, 2007 12:00PM

I think Vonage is an interesting story. These dbags put together a company that has thus far infringed on what, close to 100 patents held by various other parties, e.g. Verizon, Sprint, etc.

So if I follow this correctly, these guys were able to raise billions in financing, hire plenty of smart, knowledgeable people (who themselves should have known better), and through all of that, no one thought that maybe they should go run a search @ uspto.gov? Uh, what?

Posted by , Oct 08, 2007 12:18PM

JT - other than the patent issues, your scenario is different from creating synthetic paper of dubious quality how?

Posted by JT, Oct 08, 2007 12:47PM

Actually my anonymous friend, even with the IP issues its very similar indeed. One could argue that essentially, VG was selling debt/equity to investors based on the perceived value and of its intellectual property and technology (in addition to their 1st mover advantage, etc etc).

This (although a bit abstract) is similar to alot of the abs that was at the heart of the credit markets problem of late; bonds were created and sold off to investors based on the perceived value of the underlying mortgages, etc.

Both groups misled (a blanket statement, I know) investors, and everyone took the bait until the truth couldn't be held back anymore.

The continued question with Vonage though (I'm not going to get into the abs convo here), is what other IP are they infringing upon if any, and regardless with their massive subscriber acquisition costs, how much longer can they continue as a going concern?

Posted by , Oct 08, 2007 2:04PM

Fuck. Shit. Bitch. Cunt. Whore

Let's see if the DB staff really are on vacation...

Posted by Bitchy McBitchington, III, Oct 08, 2007 2:23PM

How come no one discusses how Italian-Americans have somehow converted this holiday into some sort of Italian appreciation day? There's a freaking parade down 5th Avenue for it! Anyways, the fact is that the only connection with Italy is that Chris Columbus MAY have been born there...doesn't seem like a big enough of a connection for them to usurp the holiday - but ok....

Posted by Johnny Canuck, Oct 08, 2007 2:26PM

Today is Thanksgiving, eh.

Posted by , Oct 08, 2007 2:34PM

What else do the Italians have to celebrate? Pasta day? Mafia day? We've lost every war we've been in for the last 1600 years day? Men who like to get manicures day?

Posted by NotNasser, Oct 08, 2007 2:35PM

Okay, I'm no expert but I'll ask Bitchy.

The usual accounts of Columbus' life have him born in Genoa. What are the other plausible places?

Posted by Maimonides, Oct 08, 2007 2:43PM

Columbus's family were Jews who converted to Christianity

Posted by Saint Peter, Oct 08, 2007 2:46PM

Just like the apostles!

Posted by Timmayyyy, Oct 08, 2007 2:53PM

Timmmayyyyyyy, sweet video man!

Posted by Random Banker, Oct 08, 2007 3:21PM

http://www.nytimes.com/2007/10/08/business/media/08golddigger.html?_r=1&ref=business&oref=slogin

Our little boy is all grown up. Carney made into an article in the New York Times.

Posted by Random Banker, Oct 08, 2007 3:23PM

oh, i didn't see your update. anyway, congrats.

Posted by John Carney, Oct 08, 2007 3:25PM

Thanks! I think my update went up write around the time your comment did.

Posted by Anal_yst, Oct 08, 2007 3:30PM

Dealbreaker (vis a vis Carney) being portrayed as a (quasi) legit source of information? Blasphemy!

Posted by Random Banker, Oct 08, 2007 3:36PM

Yeah that guy at JP Morgan, Rob Campbell i guess, is so done.

Posted by , Oct 08, 2007 3:38PM

Thanks for acknowledging that today is Canadian Thanksgiving, DB. Early harvest and all.

Posted by know-nothing, Oct 08, 2007 3:48PM

thanks for assuming anyone gives a shit about Canada

Posted by , Oct 08, 2007 3:52PM

odd lots in kansas 3:48PM, I guess you don't trade international markets.

Posted by Whiney McWhineyson Jr, Oct 08, 2007 4:17PM

What really sucks is that you work at a place that won't allow you to access other email systems and they expect you to work all kind of crazy hours, but then have some bullshit policy that you can't use their email system for personal stuff.

Posted by pierre trudeau, Oct 08, 2007 4:23PM

anon @ 3:52: good one...Canada's more like the 51st state.

Posted by wine taster, Oct 08, 2007 9:05PM

The wine tasting was lovely Thankyou. I will especially miss the girl that served and let me taste her brand of wine, all through out. Too bad I forgot to get her contact, maybe I'll post something on missed connection. Things been crazy lately, hope to do this again soon.

Posted by who knows, Oct 09, 2007 11:23AM

yo! Carney, cleverly positioned and posing in the background. Well done!

Post Your Comment