Programming Note: We’re off ’til tomorrow. Enjoy the holiday, and see you Tuesday morning! Also, solicitation: if anyone is free on Friday and interested in covering Wharton’s annual Private Equity & Venture Capital conference (which was taken over by protesters last year), get in touch!
Citi Passes Torch To RBS (Bloomberg)
RBS is looking at a loss of as much $41B on top of which they could write down as much as £20B in past acquisitions, which makes them king of the mountain. There’s a certain amount of respect owed to those that can dethrone the once mighty Citi from atop a vast heap of brutal carnage; the idea that Pandit might be Jr. to some more nefarious individual is almost, well, shocking. I’m sure the Citi boys will be quick to point out that the RBS’ers have a long history of wearing skirts, such that it’s not entirely surprising that they found themselves bent over the copying machine – but I warn thee, Citi, don’t make that mistake: it could very well be your last.
UBS Buys AIG Commodities Index (DJNewswire)
UBS has acted with all the grace of a bi-polar prostitute in days of recent past; this move doesn’t exactly clarify their positioning in the market. The pick-up is going down for $15MM on the front end with $135MM negotiated over the next 18 months depending on performance. You’ll remember AIG wanted the government (who currently has a kung-fu deathgrip on the firm’s balls) to allow them to accept stock in lieu of cash while unwinding – the UBS rent-to-own plan appears to be a reasonable alternative.
Blackstone To Launch S. Korean Unit (Reuters)
The unit will launch with $6MM with the intent of targeting around $2B in acquisitions over the coming years. This move almost appears to be government sponsored: it wouldn’t be out of line for the small(ish) government to have called in PE firms to do a bailout of a mid/small’s that are suffering from liquidity issues.
Russia/Ukraine Saga To Come To A Temporary Close (WSJ)
The phenomenon that is the former Soviet Bloc isn’t ever to be underestimated: their capacity for instability is unheard of in Western circles. The Ukrainian government has effectively (and without apology) held Russian gas from Europe as part of their annual price negation process, which is apparently coming to an end:
“Russian Prime Minister Vladimir Putin said Ukraine will pay 20% less than the European price for this year. This means a substantial increase for Ukraine in the first quarter but the price could fall significantly later in the year as gas prices are expected to drop.
Ukraine’s Prime Minister Yulia Tymoshenko said natural gas supplies would resume once the two countries’ gas companies sign a contract. It wasn’t clear how soon this would happen. Russia’s Gazprom and Ukraine’s Naftogaz, both state controlled, were told to prepare the documents.”
Morgan Stanley Hires Supertanker To Store Oil In Gulf (Bloomberg)
The ship holds roughly 2MM barrels, and will hold the oil until barrel prices are such that it can be sold for substantial profit: underwear gnomes beware.
“Morgan Stanley hired its tanker at $68,000 a day, the two brokers said. That works out at $1.02 a barrel a month, based on a 2 million-barrel cargo. Benchmark U.S. oil futures are trading at an average of $3.65 more than the previous month between February and June.”
Reuters To Offer Consolidated Tape For EU (FT)
“Thomson Reuters said it was launching an “independent consolidated tape” that pulls together prices across exchanges and other trading facilities.
From Monday, Thomson Reuters’ customers will be able to access all best “bid and offer” data plus all historical “tick-by-tick” data for the most liquid listed European equities. It will cost each person using it €10 a month.”
FBI Joins Hunt For Nadel (Reuters)
The name of the firm is Scoop Management, people; just let that sit for second.
Why or why am I at work?
UBS sucks. Just thought I’d say that.
@american bandersnatch – let me guess: trying to avoid the crowds in dc? question for you, anyone else in the office? markets are closed and I doubt you’re the type to be processing those late friday trades…perhaps today is the day you take the 2 martini lunch.
@william r – why didn’t you include the article from the post re the latest revelations about the junior money honey at cnbc and her betrothed (who also happens to be her boss)?
SQUAWKING SEASON AT CNBC
January 19, 2009 –
COMELY “Squawk Box” co-anchor Becky Quick is ruffling some feathers.
Quick, 36, who hosts the early-morning CNBC show with Carl Quintanilla and Joe Kernen, quietly married the show’s executive producer, Matthew Quayle, a few months ago – which has drawn grumbles from co-workers regarding the ethical ramifications. “He is her direct superior, so it’s a little weird,” groans one insider. “She’s definitely been getting preferential treatment since they got together.”
Quick – whose glossy hair and sparkling incisors prompted a 2006 New York Times story about her legions of online male admirers (“Her teeth are like pearls from the Orient,” wrote one fan on a Web site) – was previously married to a computer programmer.
Quayle, 38, who has been with CNBC for 16 years, was also married with two kids before he and Quick started dating. “He is a big Christian and would always talk about the church. And then he left his wife and babies for her. What a hypocrite,” snips an insider.
Reached for comment, a spokesperson for CNBC told Page Six, “All three anchors on ‘Squawk Box’ – Becky Quick, Joe Kernen and Carl Quintanilla – have married CNBC producers. Love is in the air when you’re first in business worldwide.”
It’s not the only buzz brewing at the cable channel. On Friday, CNBC on-air editor (and former Post reporter) Charles Gasparino got into a nasty squabble with Media/Technology Editor Dennis Kneale over whether or not Citigroup CEO Vikram Pandit should stay with the financial giant. The financial blog Dealbreaker described it as “a shouting match only dogs can hear/understand.”
The two had previously butted heads after Gasparino, in a segment on ex-Gov. Eliot Spitzer, jokingly accused Kneale of having been a client of call girl Ashley Dupre.
http://www.nypost.com/seven/01192009/gossip/pagesix/squawking_season_at_cnbc_150882.htm
“@william r – why didn’t you include the article from the post re the latest revelations about the junior money honey at cnbc and her betrothed (who also happens to be her boss)?”
I’m in denial.
@ william: “I’m in denial.”
c’mon man, she’s 36. at best she’s an aging puma, at worst, a cougar. you CAN do better, yes YOU…
bonus points for anyone with wedding announcement/pics. I know they are out there.
It’s a good day to go full retard at the office.
Quayle, married before with two kids, I would have thought Becky Quick would have had better judgement. Guess not.
http://www.nypost.com/seven/01192009/news/columnists/caroline_the_certain_pick_for_dave__riva_150822.htm
“CAROLINE THE ‘CERTAIN’ PICK FOR DAVE: RIVALS”
start the impeachment process…
Carl is married!?!? My day is ruined.
@6 A nasty cougar at that!
Anyone else seen the SPANISH shamwow commercials?
Typical NYC scum, these CNBC critters.
bandersnatch — you are at work because you sang silly songs at skidmore when you should have been studying high-stress concrete engineering. great fun though, eh?
@8, puma taste is quirky. some of them really like evidence of prior familial commitment because in their view all the “good ones” were taken long ago, and they figure they will do a much better job of fondling/crushing the slave’s balls than did the usurped…
Bess/EP/William, or whoever is on duty: How come you are not reporting on the Fashion Meets Finance list? Or I just missed it somewhere?
http://www.pocketchangenyc.com/fmf/who.php
(1) Right click on an image, open in new tab, check the URL, and you get that person’s email. Hm.
(2) Scoping out some of the rejects: HR at Morgan Stanley (wideclop?), recruiter at Barclays (not a wideclop?) dermatology assistant, recruiter at HBO, admin asst at Deutsche, PR Director, Sr Supervisor- HF accounting, Engineer, AOL Account Manager, Freelancer, Event Consultant, VP Retail- Playboy, Ass’t Research Scientist, Regional Sales Manager, Compliance, VP Strategic Planning, System Admin DE Shaw, Bus Manager at Merrill Lynch, hospital social worker, web developer, project assistant at the French Embassy, some guy describing himself as a “lawer” whatever that is, NBA staff assistant, Morgan Stanley “professional”, pension consulting analyst, hotel service manager, receptionist, VP of Outdoor Ops, Full Throttle sales, quality assurance manager, Cravath: LP Manager, hospital case worker, etc.
@14 – Fair enough, although the CEs I know don’t get paid diddly, although they get to play with cool toys.
investorcluzo – A couple of Martinis (the proper kind – no vodka) sounds good.
One could argue that many offices were in “full retard” over the past few years. Why stop the banging the gong now?
It’s gonna be 60F here this afternoon. Screw this… it’s patio time.
–Calgary Schmooze
@15 – where have you been?
http://dealbreaker.com/2009/01/fashion-meets-finance-voicemai.php
please catch up to the rest of us?
@calgary – 60F? where exactly, are you?
Cluzo – In Calgary…
http://en.wikipedia.org/wiki/Chinook_wind
It’s been above freezing for a week. It was 60F yesterday too. I may have to play hooky and go skiing later this week too.
Cluzo please read my post prior to replying: key word “list”.
Sorry you got rejected by the organizers, they are mean like that.
CITI HR is in office today …preparing the layoff list
there are weird things happening in office today. makes me think if there is anythuing more sinister going on.
Any chances of BK or suchlike for C ?
@20 – I did read it…perhaps you should read the discussion before looking posting. for the record, I went to the first one and wrote the write-up (you new to the board?). back to yahoo finance for you.
happy lee-jackson day, prepare for worst day ever-1/20/09…bohica
sorry – “looking” should be deleted, got distracted.
@cluzo
Distractions aren’t allowed.
I’m new to the board, what’s a girl? Olivia Gramelspacher is cute — I wouldn’t mind replacing that last name with something less throatish though.
My associate sent me this…what are your thoughts…how can I look at him the same?
—————————–
So basically, I’m pretty bored and figured I’d help you guys out by making a list of the places I went to in Atlanta that I think you might like.
Breakfast:
Food 101: If you guys get a chance to explore check it out. It’s far from downtown but pretty good.
Cafeteria is the best bet. Good omelets, fruits, and cereal.
Lunch:
Fresh20 Midtown. It’s a 10 min walk from the building but worth it, great salads, soups, and sandwiches.
The cafeteria is decent if you just want to grab something quick and don’t want to spend time walking
Dinner:
Baraonda (Italian): Close to Fresh20. Pretty good pastas and appetizers..
Silk (Japanese): Downtown also. Really good sushi and tempura. Brown rice an option for those looking to keep it tight in the winter months.
Murphy’s (American): Virginia Highlands, good place to start off before you go out for the night. Good fish, soups, and apps.
Ecco (Mediterranean): 7th and W.. Peachtree. Definitely my favorite place to eat. Great cheese and meat samplers, try the aged gouda and fried goat cheese. Pastas, fish, pizzas, etc. I suggest the saffron mussels to start and fettuccini with shrimp and pesto as a main.
Nightlife:
Downtown: Vertigo is kind of funky but it’s the only place open on Sunday near the hotels if you want to drink.
Midtown: Shout is pretty chill. It has an outdoor patio and bar. Inside is more of a club atmosphere.
Buckhead: plenty of bars to choose from. All are pretty good.
Virginia Highlands: Moe’s and Joe’s is a definite on Tuesday night for $3.25 PBR pitches. It’s a shit show for sure. Fontaine’s is across the street from Moe’s and Joe’s, really reasonable drinks. They had $2 Sam Adams Boston Ale when we were there. There’s a club near there, heard it’s alright.
I also suggest going to a liquor store and picking up Firefly. It’s sweet tea flavored vodka and gets you super fucked up. Just go half and half with water or lemonade.
That’s all I can think of for now. Hit me up if you have any questions.
—————————————
Keep in mind its a male associate.
@26
maybe he’s trying to figure out what else he’s good at before he gets the inevitable ax…for instance, writing for zagat.
truth is, this guy had no discernible skill-set when times were good (2003-2007). now in the downturn, like our ponzi friends, he’s being exposed. i suggest you encourage him to provide with more updates and ideas for food, fun and city life. kind of like when, in junior high, you’d go spend time with retards at the retard school down the road to, seemingly, make you appreciate how good you’ve got it/make the retard’s day a little brighter.
your associate was not an analyst before b-school, right?
26
I see nothing wrong with that debriefing. How about you tell me what’s wrong with it.
@Private
other than he now knows that you posted his debrief. Now I’m wondering whether I should have asked Bess&EP to delete your last faux pas. I hope your analyst stays safe – not sure about you.
26 and 28 I’m getting a vibe that this is a person that really enjoys restaurants and bars. Don’t you all know people like that in NY, constantly talking about the latest place? Foodies, they’re called. Usually though, they’re women and in professions where its not so shameful to appear frivolous. The fact that its a guy in finance is a little offputting.
I would have been more forgiving if the list was restaurants only and a little more practical. It can actually be helpful when you’re out of town to be equipped with the names of a few good, reasonable places. You don’t want room service or the hotel bar every night. The tone here though is over the top: more like a guide that the editor of Gourmet would use if they were going out of town. As if the purpose of the trip is to find the best places in Atlanta, as opposed to hey, youre there anyway so here’s a few to consider if you have some spare time and are bored with room service. Which therefore begs the question as to how he has time for this: when we send this guy out of town, is he working or surveying restaurants? That’s the problem, 28
“I’m getting a vibe that this is a person that really enjoys restaurants and bars. Don’t you all know people like that in NY, constantly talking about the latest place? Foodies, they’re called. Usually though, they’re women and in professions where its not so shameful to appear frivolous. The fact that its a guy in finance is a little offputting.”
hahah. you fucking idiot. have you ever been to new york and/or interfaced with someone who works in finance in new york? the vast majority of them are interested in eating at over-priced restaurants.
I’m all over the PE & VC conference like white on rice. I’ll make sure the frig is free of cockroaches.
Mordy
Too bad number 26, you are apparently too young to remember “Marietta (suburb of Atlanta) treat and homecooked food at Aunt Fanny’s Cabin……born out of a Civil War round house. Hello to today’s Alantans……Love you. Ted..Chicago
PE what kind of chop shop is it you work at where your associates drink firefly? it sounds like a US version of bridgepoint, yuk.
@7 – Never go full retard.
Not unless you want a job at the SEC or the FSA.
http://epicureandealmaker.blogspot.com/2008/09/simple-jacks.html
31 NY is just different. More like London and Tokyo than Louisville. Sure things are expensive, but at the same time people are well paid. Its simple economics, supply (which is limited, since NY is an island nation) and demand (a function of the good salaries, plus the tourist dollars that pour in). You don’t like it stay home, but no need to be angry.
PBR? Really?
I am an alcholic, what are ‘pitches’?
PBR? Really?
I am an alcoholic, what are ‘pitches’?
1 – 38
What a bunch of pikers!
“I suggest the saffron mussels to start and fettuccini with shrimp and pesto as a main.”
Not that there’s anything wrong with that..
@6 T Boone Pickens must be crying in his beer. I wonder how many more exclusives she’ll be getting from him. Oh wait, he still has to flog his wind energy idea to cover his investments. There’ll be no end…
26 Is this guy cute? Let me know. I’m happily partnered, but I know someone who would be perfect for him. GAnalYst
dealbreaker.com: where the potential return of lasting love is vetted via prospectus.
I feel love
http://www.youtube.com/watch?v=k8TBmeK9Abg
Phobos: due diligence is key to romance.
@40
I suggest a census taker’s liver with some fava beans and a nice chianti.
H. Lector
@investorcluzo where do i collect my spirit points?
http://newsbios.com/JOTW%20HomePage.htm#Matt%20Quayle
money buys happiness and loads of chicks too
http://www.nypost.com/seven/01192009/news/nationalnews/on_the_wings_of_lust_150819.htm
ON THE WINGS OF LUST
MISTRESS AIR TRYST BEFORE DEATH HOAX
>>>Blackstone in S.Korea
@47 – good work, seems like we have a match made in heaven…er, I mean, rutgers (eewwwh!). let the rumor-mongering begin. is miss quick a homewrecker? could she have been stalking quayle since her undergrad days (or was it the other way around)?
tell thain (kenny is – okay, should be – on his way out) that you want the spirit points reinstated so that you can claim your reward. we still need wedding pics, so any of you happy campers holding out for more – you should know that there is a gold star waiting…
@investor eh? sounds like you may have some re-writes for this ad?
http://www.cnbc.com/id/28053610
# 5
The”junior money honey”?
sounds like Erin Burnett!
So which one is Erin Burnett’s PARAMOUR?
Looks like there’s a contest in CNBC talking heads thus who can sleep with someone with a higher position is the winner or has the staying power!
i started off with three brothers but now i have five including carl and joe and i woulda had six if i didn’t screw the last one.
i always wondered why becky quick got the warren buffet interviews
a little baloney pony goes a long way
181,000 jobs on the wall, 181,000 jobs, if one of those jbs should happen to fall….
http://endofesq.com/?p=881
You putzs are lame. Where the fuck is The Guy from Delaware when you need him?
@58
are you FUCKIN crazy, man! let sleeping dogs lie.
shit man, next you’ll be talking about the dreaded clops. get a hold of yourself.
Anyone else dreading tomorrow, insofar as everyone’s gonna be obama-drunk, bahhhhh
Yes, tomorrow should be interesting…. Can’t wait. Just can’t wait.
-mrp
Male and female CNBCers raised Ashley Dupree’s bar ! Their advantage is they get to keep their job no matter how poor their reportings are.
@ Mr. P
Sarcasm, I hope…
Maybe more Obama coverage means less “the economy is sucking” coverage. Just a thought. Not sure abt you guys, but less “economy is sucking” coverage is good for my market.
I’m just saying…
Cheers B1tches!
Tanned Banker
@63
If you wake up and don’t want to smile,
If it takes just a little while,
Open your eyes and look at the day,
You’ll see things in a different way.
Don’t stop, thinking about tomorrow,
Don’t stop, it’ll soon be here,
It’ll be, better than before,
Yesterdays gone, yesterdays gone.
http://www.youtube.com/watch?v=rToKEnySb7s
@65/tanned banker
As much as I enjoy Fleetwood Mac, I just dread lots of the stupid people I have to deal with all day who don’t know shit about fuck and blindly think Obama is their messiah, despite my attempts to educate them, alas!
@Anal
Tonight is the last night of a long nightmare for most people. Tomorrow is the first night of your nightmare. We wish you enjoy yours as much as we enjoyed ours.
http://www.youtube.com/watch?v=DEbZqvMu2cQ
Eternal Optimist
@ Anal/66, agree he is no messiah. I have spent the majority of the day looking for TV that wasn’t covering him. But I also agree with Eternal Optimist/67 that the guy who occupied 1600 for the last 8 was no messiah either. Have a Happy Tuesday everyone.
Cheers,
Tanned Banker
If I had a dollar for every Obama supporter who never said Obama was the messiah, I would be Buffet.
Finnegan
Anal_yst @66
I don’t know shit about fuck and I blindly think Obama is my messiah.
SPODE
Looks like Opco will have to dip into TARP to Meredith this year
In the wake of a $56 million fraud
investigation against its parent, a Florham Park financial services company is moving forward with its bid to become a bank and tap into a federal bailout program.
Oppenheimer Trust Co.’s application to become a bank and change its name to the Oppenheimer Bank and Trust Co. has been accepted by the New Jersey Department of Banking and Insurance, according to an announcement by the New Jersey Bankers Association.
Oppenheimer Trust also wants to sell a chunk of its stock to the federal government under the Troubled Assets Relief Program.
Oppenheimer Trust currently offers investment and other financial services to high-net-worth individuals and families, and not-for-profit and other organizations, according to the company Web site.
In November, following the meltdown of the volatile auction rate securities, or ARS, debt market, the Massachusetts Securities Division filed a fraud complaint against Oppenheimer’s New York parent, Oppenheimer & Co. Inc., and some top executives. Oppenheimer & Co. steered clients to risky ARS, resulting in losses of $56 million, even as the executives unloaded their own holdings, alleged the Massachusetts Securities Division.
Oppenheimer denied the charges, but said it was “reviewing the availability of the TARP program, and other programs recently announced by the federal government, to provide a solution to this serious issue for its clients.”
The New York parent also said that prior to the filing of the Massachusetts complaint, Oppenheimer Trust was preparing an application to the Federal Deposit Insurance Corp. for deposit insurance, and had filed an application to participate in the TARP stock purchase program.
You think your military/industrial/healthcare/finance complex will let any president make a difference?
The the big picture is out there.
Not McCain/Obama
Obama is the David Dinkins of our era
Tennis anyone ????????
This morning’s Bailout News Links are now up…there are currently 22 links… stories so far this morning run from Soros on Tarp and the stimulus to the UN asking for a US bailout of Cuba(sort of)…oh yeah and the guy who owns the Bunny Ranch Brothel in nevada is asking again for a $1 billion bailout…only this time he says it’s satire…he HATES the bailouts…he’s one of us it seems…also some really good stuff on bernake, inside merrill lynch and a Jimmy Rogers interview from China on the bailouts…
dailybail.com
thanks a ton, DB
@tanned – brilliant point, less “economy sucks” is a positive development. j&j missing earings and state street warning is a negative. let’s just hope the discussion continues to revolve around michelle’s clothes and not about the fact that the emperor has none.
as an aside, I know several people who trekked down to d.c. (I think they’re crazy), they said the atmosphere is awe inspiring – let’s hope that energy doesn’t pop like the internet bubble on wednesday morning.
@73
LOL. That’s funny. I see him walking up First Ave all the time in his track suit carrying his tennis gear.
True, Dinkins blew. But at least he didn’t turn NYC into a Gestapo-state as Rudy did.
Bring back the crack whores damn it!