Jim Simons Delays Retirement Plans (WSJ)
Talks with officials of the China Investment Corp about a multi-billion dollar stake in Renaissance and plans to retire have been put on hold. Spokesman Jonathan Gasthalter declined discuss what factors may have changed. Also, "two veteran Renaissance insiders, speech-recognition experts Peter Brown and Robert Mercer, are considered likely successors to lead the firm," whenever Simons, who quit his two-pack a day habit this year, decides to start taking it easy. The Journal took about 30 years off his head cut, and made him look like Biff's long lost brother, which is nice.
JPMorgan to Acquire Rest of Highbridge Capital (Dealbook)
Had a majority stake since 2004.
US Pushes A Troubled Citi To Heal Itself (NYT)
"The question now is when, or perhaps even if, Citigroup will be able to free itself from Washington." Shall we take odds?
California nears financial "meltdown" as revenues tumble (Reuters)
California's government risks a financial "meltdown" within 50 days in light of its weakening May revenues unless Governor Arnold Schwarzenegger and lawmakers quickly plug a $24.3 billion budget gap, the state's controller said on Wednesday.
Lehman Sued Post Mortem (WSJ)
"Former Lehman clients Western Digital Corp. and Ceradyne Inc. accused the investment bank of fraud by selling them supposedly safe, liquid securities while knowing that the market for the securities was drying up."
Forclosures Not Getting Any Better (Reuters)
"Foreclosure filings dipped 6 percent in the month but increased 18 percent from May 2008, marking the third highest month on record."
Posted by guest , Jun 11, 2009 8:11AM
Citi is basically f#cked forever.....
Posted by guest , Jun 11, 2009 8:12AM
California is bascially f#cked forever..
Posted by guest , Jun 11, 2009 8:13AM
Lehman is already done being f#cked do we care to even talk about it anymore....
Posted by guest , Jun 11, 2009 8:14AM
Rates are going higher with energy costs the US consumer is f#cked....again
Posted by guest , Jun 11, 2009 8:15AM
Credit Crisis part II coming up, what is your plan now Obama....
Posted by guest , Jun 11, 2009 8:27AM
Leave Obama ALONE Leave him ALONE
-NYT
Posted by guest , Jun 11, 2009 8:32AM
all you bitches are belong to us
- China
Posted by guest , Jun 11, 2009 8:39AM
i'm a little confused by the chronology of the jammay article.
the 1st para- "this year took steps to retire "
2nd para--"has traveled to China to talk with officials"
3rd para--"The China talks, which took place last year, didn't lead to a deal"
and this is good:
"But this year, a top Renaissance executive told Wall Street associates that the firm could sell a stake, a person outside Renaissance who was involved in the talks said."
yeah, just like Lehman could and did sell its stake.
but anyway... interesting timing. is he monetizing in advance of the cigarette tax hike? oh wait, he's given up habit.
Posted by guest , Jun 11, 2009 8:45AM
Did CIC say no because it was their RIEF stake....?
Posted by guest , Jun 11, 2009 8:54AM
I was offered a position at Citi yesterday, should I take it? I have nothing else in the pipeline.
Posted by guest , Jun 11, 2009 9:04AM
@10
it doesn't really matter where you clean toilets, so yes, you should take it.
Posted by guest , Jun 11, 2009 9:09AM
@10
what position did they offer you - doggy style, receiving end, no reacharound?
Posted by guest , Jun 11, 2009 9:09AM
@11- blow me
Posted by guest , Jun 11, 2009 9:10AM
@13 - clean my toilet
Posted by guest , Jun 11, 2009 9:10AM
working at C beats sucking dick for a living, but only marginally.
Posted by guest , Jun 11, 2009 9:13AM
@11
The toilets at Citi are some of the cleanest on the street. All the boys there sit when they pee.
Anyway, it could always be Merrill.
Posted by guest , Jun 11, 2009 9:14AM
#10 I think asking randoms on the internet about important decisions like where you work is a sign of poor judgement. So you should begin working at Citi ASAP.
Posted by guest , Jun 11, 2009 9:14AM
@16
they are clean because all the crapping happens in pants..
Posted by guest , Jun 11, 2009 9:17AM
@10
you sound like a dumb guy that is quite likely going to be the butt of many jokes - why not do us a favour and write daily updates here about your experiences as a novice in finance?
Posted by guest , Jun 11, 2009 9:41AM
10 is John Thain.
Posted by guest , Jun 11, 2009 9:56AM
I would rather have 100 Jefferies analysts shit on me than work one day at CITI.
Posted by Revmachine21 , Jun 11, 2009 10:11AM
@10:
Welcome to hell. The water is piss warm.
Sincerely,
Current Citi employee
Posted by Finnegan , Jun 11, 2009 11:42AM
Does anyone know how the Republicans would solve some of these issues?
Posted by guest , Jun 11, 2009 11:47AM
@23-- yes, get themselves elected out of office by nominating a crotchety old man and an vapid airhead as their leader representatives.
Posted by guest , Jun 11, 2009 12:24PM
23 Yes, cut taxes, increase spending and engineer a pump and dump for the housing sector. It worked so well for them from 2000 to 2008. Too bad it wasn't sustainable. And unfortunately the grownups now have to clean up the mess.
Posted by guest , Jun 11, 2009 1:02PM
@25- those grownups you speak of??? Aren't they the ones who have basically taken a $hit on the entire US economy and wiped thier ass with the constitution? Yeah I thought so...