Worker Killed In Wal-Mart Stampede (NYP)
You don’t have to vacation to Mumbai to be savagely murdered. Just position yourself in front of a throng of sale-crazed animals. Anytown America will probably get the job done but if you really want to up your chances, you gotta go with epicenter of batshit blood-thirsty insanity, i.e. Long Island. A 34-year old Wal-Mart employee was trampled to death this morning at a WM in Valley Stream after being knocked to the ground while trying to restrain the throng of “savages” trying to get their hands on a deeply discounted flat screen. In the same stampede, a pregnant shopper was pushed over and may have suffered a miscarriage.
Update: The Post has added fairly disturbing video footage of paramedics attempting to revive the employee.
Citigroup Chairman Says New Bonus Systems Aren’t ‘Magic Bullet’ (Bloomberg)
Sir Win Bischoff, speaking from experience, told a bunch of Swiss bankers in Zurich today that, “By itself, more and retention-based compensation is not the magic bullet because it certainly didn’t stop us from running up very large losses…You here in Switzerland, and particularly our friends at UBS, have done a lot of good work in this area [of shrinking bonuses]. However, it’s not the only answer.” SWB sagaciously added that “two consecutive quarters of profits without any major writedowns at the world’s major financial institutions would be enough to restore confidence,” and then put the under/over on how many years before that’d happen at ten, and took the over.
Firm Shuts Hedge Fund After Losses (NYT)
BlueBay is shuttering its Emerging Market Total Return fund, and Satellite is said to be winding down all funds.
We Hear…(Page Six)
As previously reported, Billy Macklowe’s wife, Julie, has been dismissed from Steve Cohen’s lair. Page Six wonders if this will affect the former Sigma portfolio manager’s spending habits. Not if the e-mail J to the M sent out to family, friends, and foes is to believed. According to Macklowe, she left Stamford on her own terms, and is starting a new fund, to be named JMACK Capital.
Rescue Plan Strained by Lack of Staff (WSJ)
Anyone need a job? Surely there are 40 unemployeds reading this. You’d have to move to Washington, and report to the follically-challenged, but at least it’s work.
The current Treasury has so far struggled to keep up with the task of hiring enough people to handle the $700 billion financial rescue package passed by Congress in October. The man now in charge of running the Troubled Asset Relief Program, Assistant Secretary Neel Kashkari, said the department’s Office of Financial Stability, with about 40 full-time employees, is operating at half-staff.
Federal banking regulators, who must approve the applications from banks before they go to Treasury, said there is a backlog of unprocessed applications for relief. Outside observers said the difficulty of quickly building a qualified staff may be one reason the Treasury abandoned its original plans to use the TARP to purchase assets from financial institutions, deciding instead to inject capital into the banking system.
“I don’t think that was a small part of why Treasury in the end abandoned the asset-purchase program. It’s very people-intensive,” said Wayne Abernathy, executive vice president of financial-institutions policy and regulatory affairs at the American Bankers Association.
New York City to Celebrate 75th Anniversary of the Bloody Mary on Red Monday (PRNewswire)
NEW YORK, Nov. 28– Thousands of bars and taverns in the Big Apple will be celebrating Red Monday for the 75th anniversary of the Bloody Mary. The drink which is an American institution originated in Manhattan by a famous French bartender named Ferdinand Petiot when he came here in 1933. New York State and local officials will proclaim Bloody Mary Day and honor the granddaughter of Petiot with a citation and a Bloody Mary toast on Monday, December 1, 2008 at 11:30 a.m. in the middle of Times Square at 1552 Broadway.
Furst.
- The guy that volunteered to work the day after T-giving.
id like to do some stampeeding right aobut now
bess keep us company!!
Too long; didn’t read.
4th!!!!!
You know its a slack day when bloggers need the day off. I guessing blogging is tougher than it looks.
While everyone else was walking around the malls not buying anything, a walk-in to my office and gave me a 7 fig acc to “grow”.
Steak and cake on me tonight!!!!
4th!!!!!
You know its a slack day when bloggers need the day off. I guessing blogging is tougher than it looks.
While everyone else was walking around the malls not buying anything, a walk-in to my office and gave me a 7 fig acc to “grow”.
Steak and cake on me tonight!!!!
This video footage was supposed to be “disturbing”? Lol, I guess some people have a super weak stomach and/or that thing known as “compassion”.
- that guy from Goldman Sachs (a.k.a.: TGFGS)
Bess: I’m huge. You’ll love it! Call me…..
The Other Guy From Delaware
We’d all trample several pregnant women just to get our mits on Bess.
-BeckyBootFan
I likes Obamas first accepstance speach betters.
http://www.youtube.com/watch?v=7EJq587OLJ8
Break it downs Goldman Sachs Dude GSD
SPODE
…or perhaps knock down and dishevel one gal who thinks she might be pregnant but hasn’t yet gotten the verification from her OB, to at least get a .jpg of Bess.
-BeckyBootFan
What’s really disturbing about the video is that a police officer seems to be doing chest compressions on the poor man forever. How long can it possibly take to get the AED, which is presumably located near the front of the store? Chest compressions are very close to worthless, and it’s really sad to see them going on for so long in a setting where an AED had to be very close by, especially knowing what the outcome was.
The Mumbai reference is in really bad taste, especially given the scale of the tragedy and the fact that the situation is still unresolved. It is extremely hypocritical, to say the least, to be trivialize dastardly terrorist attacks in other parts of the world while being ultra-sensitive if anything happens on american soil. terrorism is terrorism, wherever it may be, and needs to be condemned, always.
it takes a lot to offend me but im going to have to go with 12 on this one.. the mumbai reference is really classless on your part bess
I disagree, 12 & 13. Bess seems to be consistent with her style of writing here. Everyone deals with tragedy differently.
@14 Yeah? Even Geraldo Rivera seems to have a “consistent” style of reporting but that doesn’t make him not a douchebag. I’m with 12/13, too soon and insensitive.
@12/13- i’m sorry, what did bess say that was insensitive? she seems disturbed by both events, and merely brought in a topical reference to discuss walmart. take your self-righteous indignation elsewhere.
also, if you actually read the post, she refers to what happened in mumbai as savage murder. hardly ‘making light of it.’ both are terrible tragedies. this post did not refute that point.
@ 4,5
Was this before or after your breakfast at Denny’s?
12-
I would like to trivialize your use of the word “dastardly.”
I’ve fallen and I can’t get up…
I am with 12 every one knows it takes 22.3 years before these things get funny
@6: You’re an idiot. The punctuation marks go INSIDE THE QUOTATIONS. i.e. not, “compassion”. — “compassion.”
Get it right next time you soulless bastard.
@ 19 – I think he meant “bastardly.” lol
@22- hahah
FYI GSD is in the London office thats why their outside.
For the love of god would someone please tell me “is the silver bullet going to be fluid going forward”.
Im in London two.
SPODE
Denny’s Grand Slam sure does sound good right now.
I’m gay
SPODE
I was saddened by the mumbai reference as humor…. let the event end… and then joke about it….
Welcome to the ‘family’ SPODE.
Will ganalyst do the honors of welcoming a new addition to the DB familia?
-mrp, sitting in a bar drinking Wild Turkey
I want to insert my what what in TGFD’s butt
I want to insert my what what in TGFD’s butt
TGFD wants it in the butt, in the butt
TGFD wants it in the butt, in the butt
He wants big, but that’s ok
I’m delicate like a flower
@27- fuck you. it wasnt a fucking humor reference.
@12 & 13 – poor reading comprehension skills and a lack of a sense of humor? No one is making light of what is going on in Mumbai. If you insist on being this slow, ask Bess to type much slower next time she posts to allow you both a fighting chance to figure out what everyone else already understands.
RIP to the innocent in Mumbai and may the terrorists suffer worst than those who have to sit through an HR sexual harassment course.
- Fixed Income
@mrp – I believe spode told us he was gay a while ago. at least I do recall a reference several days ago. btw, where is GAnalYst? he’s been quiet of late.
as for the post, not sure that the video is “disturbing” – did anyone watch grey’s last night? I wanted to send my 5 year old niece out of the room…that was disturbing!
Damn you’re ruthless 26. Showing me no mercy and only man love. I hope you called a few of your former co-workers over the holiday.
Bess had it right. Both are senseless and done by savages. Killing to get a sale or killing because of religion/hatred/money is just stupidity. I hope they use the footage to get those shoppers. Senseless bastards.
@34:
And what is the appropriate reason to kill someone? Would you kill some one for a Billion dollars if you knew there would be no repercussions. I certainly would, I might do it for free given the right person. So the only question is one of degree. Honestly, the person worked at Wal-Mart, the shoppers were doing them a favor, putting them out of their misery. Surely I’d prefer death by Nike to spending 40 years of my life in that hell hole. Though, then again I might disagree during the trampling.
LOL
“lines continued to form despite the earlier incident”
Eh guess its like Six Flag I remember lining up for a similar ride after some poor bastard died on a roller coaster.
Anyway, people are animals, when a heard of Zebras does this kind of thing, it doesn’t even make the discovery channel… next topic.
Reference to happenings in Mumbai leaves a bad taste in mouth.
I would have been very upset if anyone would have made light of 9/11 incident the next day while we were still grieving. Seems to me that you could be in New York or London and get savegly murdered.
@37
seens to me you could be in Darfur Iraq, Pakistan or Afghanistan and no one would give a fuck. So make sure if you get killed you do it in a luxury hotel, so the news will cover it. Same goes for 9/11 more people died in car accidents that day.
@38 – Or, get attacked and eaten by a shark. That always makes the news.
Vol is King, show me your genitals, your genitals. Show me your genitals, your genitalia
The Guy From Delaware
@ 36
This incident @ Walmart is just a good old fashionn example of American greed (at the main street level) combined with good old American obesity.
In other countries people get trampled making pilgrimages to religous sites.
In America we get trampled making a pilgrimage to the sale rack at Walmart.
HALF-STAFF YOU MEAN
HOMELAND SECURITY STAFF ALSO DYING TO HIRE AND FIRE
@41 nice.
re: walmart
wideclops saw this coming.
@41- Every year shoppers make their pilgrimages to Wal-mart and other retailers to bow down before their consumer god SKU#.
@41 which pilgrimage is more ridiculous? i can make the argument for both.
Ah, the ironies that abound in high finance. This from Tommy Maheras in 2006:
Maheras says that right now there’s good reason to be careful. “Firms just haven’t been through any significant volatility since the summer of ’98,” he says. “Memories are short, and the next time you see real dislocation in the markets, the volatility in these trading businesses will be revealed again.”
Citigroup will continue to take on more risk for clients, Maheras says. And when the next market crisis hits, his traders will be ready to extend even more capital. “We’ll view that as an opportunity again to go into the market, use our resources to give capital to clients who need it,” he says. “We’ll win market share during those tougher times.”
As always, Maheras is willing to sink millions into a calculated risk.
http://www.bloomberg.com/apps/news?pid=20601109&sid=a5An7tqNsOw4&refer=news
No coverage of our boy Plax shooting himself in the foot (er, thigh) @ a club in NYC?
I sure as hell don’t wanna be going to any bar or club where strapped morons are discharging weapons left and right. Anyone know which place he was @?
Anal_yst… do you really need to ask? Unless you’ve got 22″ rims, I think you need not worry.
-Willie Free
The Latin Quarter
HEY!
As a long islander ive been to that Wal Mart many times and is a terrible place to shop due to the “clientele”. They treat the store like a shit hole.
Why do think its called “black friday”
haha what the fuck was Plax doing @ Latin Quarter? Space is nice, but the “clientele” is generally gross
@41 RE: POCKETING HEADCOUNT MONEY
ONE ECONOMIST USED THE TERM ‘THE BEZZLE’ TO DESCRIBE THE INVENTORY OF UNDISCOVERED EMBEZZLEMENT:
WHAT? NO QUALIFIED
-BANK AUDITORS
-SECURITY GUARD OFFICERS
Clown@#40…
In my moniker, the real TGFD doesn’t capitalize the ‘f’ in the word ‘from’. Ever notice that? Keep using the capital ‘F’, though.
The Guy from Delaware
Walmart should have handed out numbers instead of allowing the herd instinct to operate.
**
I guess Bernanke is having a happy weekend. Up market this week, and no weekend shenanigans. He can spend Sunday wrapping his secret Santa gifts and watching “It’s a Wonderful Life” for depression (personal and national) management tips.
52 its called black Friday because it is historically the day retailers used to get into the black for the year
@41:
Better consumption than religion, at least dvd’s and plasmas have some redeeming value.
@57 If you didn’t get what 52 was trying to say, you are dumb and 52, you are a racist.
Maybe Stifel will buy Neuberger… Bush boys can’t catch a break
Lehman’s Neuberger Division Sale May Be Scuttled By S&P Drop
Email | Print | A A A
By Christopher Scinta
Nov. 29 (Bloomberg) — Lehman Brothers Holdings Inc. may not get to close a $2.15 billion sale of its investment- management business to Bain Capital LLC and Hellman & Friedman LLC as a result of a provision tying the deal’s completion to the value of the Standard & Poor’s 500 Index.
The purchase by Bain and Hellman of the division, which includes the Neuberger Berman unit, is conditioned on an S&P 500 average closing price of more than 902 for the 10 trading days before the sale closes. The average for the last 10 days has been about 844, after the index reached its 52-week intraday low of 741.02 on Nov. 21. When the parties signed the deal Oct. 3, the S&P closed at 1099.23.
I have pink eye because I let a girl fart on my face. Lesson learned, wear your snowboard goggles. Maybe I’ll put the yellow lens in to highlight the details. Hell this could be a win win situation.
http://oakley.com/pd/5637
SPODE
@61 how do you know it was the girl’s fart? you could have gotten it from trying on the goggles.
Beware those at Deutsch tomorrow…the severance reaper is going to knock on your door. Look out for the wideclops. We all float down here…
TGFD I haven’t been coming here long, so probably haven’t earnt my anti-asswipe stripes yet but you seem pretty cool. I’ve been in the financial sector for around 15 years, maybe some of the shit kicker traders who I’ve dealt with could learn a thing or two from you. Atleast you seem to still own your house. Good work fella…
The Limey
LOL, I just thought of this.
On this week where we celebrate the massacre of the historical American Indians, Bess is completely out of line in commenting on the massacre of present day Indian Indians.
Pain+Timing= CO-MED-DY
hey hey, we’re only 50% screwed it turns out
`Black Friday’ Sales in U.S. Rise 3%, Least Since 2005, ShopperTrak Says
-Blumberg (can’t afford the real deal in this market)
Also apparently the ARS market is back according to this ad on the blumberg.com…
I told you guys, you can’t keep a good man down.
We are the superstars now. Bear Stearns just faxed over their congratulations. It said, “Welcome to the Club.” This also means that the teams headed by Ron and Anthony who were good enough to give up their rep numbers, can stop cold calling and start trading again.
Welcome back.
We’re players now boys.
Looks like someone learned something these last few months…+3.4% for November….
http://www.greenlightre.ky/?q=node/71
@59 thanks for the explanation. Obviously @57 is a back office little bitch boy who doesn’t know jack.
I am not a racist, though the comment had racial undertones you would feel the same if you’ve been to that wal-mart.
Any thoughts from the wise men on this board on transitioning from legal career (Biglaw associate) to trading for a living? By way of background, I have minimal math skills. Any hope for me?
LEGAL JO
@69
That’s gonna be a tall order, especially in this environment. Granted I know traders with the math acumen of a 5th grader, I’m pretty sure that’s the exception and not the rule.
Although, on the other end, those math geniuses @ AQR (etc) haven’t been doing so well, perhaps your lack of math skillz will come through as a selling point?
@BIG LAW:
Just use your own money and short all the shit show deals you’ve been pushing through from 2003-2007. If not your own money, just repeat the phrase “I know where the bodies are buried” in your interviews as many times as possible… Some wise short seller will pick you up.
Of course these days the bodies aren’t buried, they’re above ground roaming the earth in search of delicious brains….BRAINS….
Numbers
There are many available numbers between the high of 140 dollars a barrel for oil and 50.
I find it remarkable that the number of dollars for a barrel of oil has settled below that area of numbers which would still make alternative fuel production feasible on a cost basis.
I find it remarkable that the number of dollars the OPEC producers have settled on for the low end cost of a barrel of oil they will accept for their production, is as precisely similar to that number which could inhibit the necessary investment in alternative fuel as well.
It is true this price establishment (fixing?) was an historic event in the last round of energy difficulty too. (after the oil embargo began the stirring of alternatives talk) It was managed to or just happened to find itself (the price) at a level below the support of organized reasons to seek alternatives.
This was so transparent to even congressional members, that, before the last round of delays and hoaxes to address the latest energy difficulty, it was discussed that watching out for this tactic of holding the price of oil below the price of motivating alternative fuel investment, returning to the mix of oil producer’s tricks, as it seems to have again, that preventing this tactic would be addressed in legislation.
I find it unremarkable that oil would become so affordable just ahead of another period of significant focus on alternative fuel.
I find it unremarkable that the price settled upon for the producer’s price agreement is precisely below the price at which alternative fuel development would be cost effective.
I find it unremarkable that this is so predictable.
travisnye
@72
Goddamn you’re a fucking tool. Did you learn how to write from a romance novel?
@Vol is KING
STFU and show me your genitals your genitals. Show me your genitals your genitalia
The Guy from Delaware
HEY!
Financialtraders blog just issued a call to book the profits of last Friday (Nov 21, 2008)’s stock market bottom call.
Blogs latest call led to 36% gains in one week in a retirement account!
Blogger execution reports, initial call, and profit call are below:
http://financialtraders.blogspot.com/2008/11/financials-eft-xlf-fidelity-select_20.html
Read the evidence/facts. Facts/evidence never lie!
@73 As a self-published romance author, that kind of demeaning comment pisses me off. Perhaps if you’d read my bodice-ripping tale of a Wall Street CFO who loses her heavily-browed paramour, her job, everything before being swept up in a whirlwind Swiss courtship, you’d think twice before denigrating prose.
@77
We don’t need no Erin Callan stories around here, beeytches!
Alright Novice. Are you talking about Barney Frank?
Cents we’re on the subject of sexy, I will pay $500 to the first person who cums all over Barney Frank’s tits.
SPODE
72-
Your argument assumes that OPEC can somehow control the world price of oil. They can’t. If they could, why create that dramatic (alternative producing) spike at all?
Everyone should consider the tremendous good that that price spike did for all of us. Even with prices back in the 50′s, anyone going to the dealership to purchase a car will be mindful of fuel efficiency. Also, think of all the people working to produce alternatives that would not have started that work without the large price movement. Basically, the price spike fomented world energy awareness 1000% better than any single politician or “expert” could have ever done. I hope that everyone said a “thank you” this weekend for free markets.
69-
Are you planning on trading your own money? If so, I’d say you’d be much better off finding some other source of income. Open your own law practice or something like that. Trading is not an easy game, and anyone who tells you otherwise is either looking to exploit you for personal gain or has never really traded for himself (or both.) If you’re hellbent on trading for yourself, however, please think about where your source of positive expectancy is going to come from. (Being smarter than the market is not a valid answer.) If you do not have an edge, do not trade. That simple.
You could, however (per vol’s suggestion), potentially find work at a hedge fund where your legal expertise could come in handy. Unfortunately, most non-systematic HF’s are currently taking a beating and are probably not hiring, although that should certainly not stop you from trying to get hired if that is really what you want to do.
@Anal_yst – plax was at lq on lex (across from jpm building); at least that’s what it looked like on the news when they were standing outside the joint. what a$$clown! seriously, if you are getting paid that kind of money, why not hire someone to carry your weapon of choice. mike vick is watching games from a fking cell because of his indiscretions. these guys need to wise up – STAT.
@vol – how much of the sales increase was due to discounting? while I didn’t do any shopping this weekend, walking through jfk I noticed the oakley store had a 60% off sale – seems a bit high for shop that has a captive audience. I’d guess that margins will be down big. a little too early to take the consumer out of the ICU.
@ic:
not at all. If prices are down that means the must have sold even more worthless shit than last year to have revenues increase. The thing to avoid here is really them not selling anything now having a bunch of capital tied up in inventory that eventually ends up in the dollar stores. So I think a revenue increase despite massively declining margins is excellent news because the goal is just to cover enough of the cost structure not to go bankrupt. That is success this year, to not be circuit city. So far Radio Shack gets an F+.
@72
Why do conspiracy theorists like to travel around the world in order to get across the street? Oil rises and falls on often misplaced speculation atop actual real demand/supply issues.
Annoying.
p.s. plus i was trying to be ironical with the whole
“Bear Stearns just faxed over their congratulations. It said, “Welcome to the Club.”" Boiler Room quote thing.
Bringing back ARS? just because the shit is FDIC insured now doesn’t mean you’ll be able to get your money out before maturity. Its straight JT Marlin in this bitch.
Trust me, if I could do something this good I would.
http://www.youtube.com/watch?v=QHhZH99IIxk
SPODE
Fucking J!E!T!S!. The shame.
If you have a retirement account and/or if you trade or plan to, you must read the article below. Why? Because you could have made 36% return just this past week (Nov 21- Nov28, 2008), and a 100% return on your money from October 10, 2008 to Nov. 28, 2008, by following the public calls on the blog referenced below at no charge, and by making only 5 well timed buy and sell trades that you can place at market close price in your retirement account. Details of the lastest call (just a week ago) which led to a 36% return are below. Example of buy market calls issued recently were at market bottoms such as October 10 bottom, October 16 bottom, and November 21 bottom (2008). The blog also issues take-profit calls, the latest of which was yesterday Friday Nov 28, 2008 with a 36% profit in one week trading a major well diversified market index ETF.
If you doubt the veracity of the trades, the blogger posts actual (fidelity)l trading reports as evidence of the the actual calls.
Details and trading reports are below.
http://financialtraders.blogspot.com/2008/11/financials-eft-xlf-fidelity-select_20.html
Cover story article on Fuld just released on nymag.com
http://nymag.com/news/business/52603/
To whoever asked about B-water in the Nov. 6 chain following SAC layoffs…they are quite an arrogant bunch and headed for a comeuppance.
@#87…
Your link to the Fidelity XLF trade shows that you bought in at $12.32 on Nov 20th. It also says that on Nov 28th, XLF was at $12.70, and you claim that was a 36% gain over your entry of $9.32.
WTF is the matter with you? Where was your entry? $12.32 or $9.32?
Stop posting your shit on DB. You can’t seem to get your story straight.
The Guy from Delaware
Boyos the Oracle just came me in vision as I am buying some yen and he said to me he said, this crisis will be over when the Yen and the Dollar reach parity.
thoughtless bloody statement on Mumbai…and to think I was a fan!
thoughtless statement on Mumbai…and to think I was a fan!
thoughtless statement on Mumbai…and to think I was a fan!
apologies for the multiple chant
easy, Nihar
#72, Fuckin remarkable!
haha you idiots know nothing about where that walmart is…the worst part of long island surrounded by Canadians
http://www.youtube.com/watch?v=P36x8rTb3jI
98 Thats funny. It wasnt that long ago that that area was predominantly Jewish. Part of the trek eastward to escape the arrival of Canadians in Flatbush.
@99 one or the other it doesnt matter – its still a ghetto
8u1xyp I appreciate you sharing this blog article.Thanks Again. Keep writing.
Im obliged for the post.Really looking forward to read more. Awesome.
Kempinski should are already in there, surely? Have you seen that site? Incredible. Absolutely awesome.