$$$ Excellent article on our favorite vertically challenged seller, Jim Chanos. More tomorrow. Today:
At Yale, he quickly gave up on a premed major and signed up for economics classes. But despite his lanky frame and Coke-bottle glasses, Chanos didn’t want to be a nerd. He rowed crew, chaired his dorm’s social committee, and threw boozy postgame parties for his friends on the hockey team. “He was one of those special guys who could light the candle at both ends and never get burned,” says his former suitemate Keith Allain, who now coaches Yale’s hockey team. “When he had parties, he spent the week before making mixtapes. He introduced me to Bob Seger.”
$$$ Larry Gagosian to staff: “If you would like to continue working for Gagosian I suggest you start to sell some art…The luxury of carrying under-performing employees is now a thing of the past.” [Gawker]
$$$ Zell on Tribune, in His Own Words [DB]
$$$ Another Pink Slip Party is planned for this week. Wednesday, December 10th at M1-5 (52 Walker Street, Tribeca).
The Gravedancer may have stepped in his on this one.
Gagosian to staff: Coffee is for closers!
Always
Be
Closing
“He introduced me to Bob Seger…and I have never forgiven him for it.”
IJ
“Marc Dreier, the owner of a prominent New York law firm who was arrested last week, was hit Monday with criminal charges and civil complaints alleging he defrauded investors of about $100 million by selling them phony financial instruments.
Federal prosecutors on Monday unsealed charges of one count each of securities and wire fraud, describing a bizarre scheme to bilk hedge funds. The Securities and Exchange Commission filed a civil suit making largely the same allegations against the 58-year-old Mr. Dreier…”
So whose fund just figured out they gave away up to 100 Million dollars for bonds that don’t exist?
re Gagosian: doesnt it cost maybe $35,000 to carry one of his EEs? My understanding of the art gallery model is that you hire trust fun kids and pay them very little. Work isnt very hard, but neither is the pay. Is the model cracking now?
“If I bothered to look at the balance sheet of some of the stocks I’m buying, I get the feeling it wouldn’t do it”
James Cramer
uhhhhh….. what?
The market is up 22% buy some puts bitches (calls too)..(and short some others)
Will Bess and EP be at the PSP?
Gagosian to staff: Mime, I mean Art, is money!