Most of the staff at Rajaratnam fun house have been spending the last several days updating their resumes, which makes sense if you’ve been following the news since Friday, and most especially this morning. Except for this li’l fella, who believes Raj when he says the allegations are baseless and knows, in his gut, that Galleon will get through this. He’ll be there Monday, business as usual. Will you?
Buddy of mine works at Galleon. Thinks they’re going to pull through. He has several years in deferred comp. Not sure how to break it to him…
Here’s how you break it to him. Send him a link to Chris Theoharis’ Linked In page, noting that Chris is unemployed and together they can work on that.
is the “buddy” Raj-Raj?
denial isn’t just a river in Egypt
Put Galleon news and documents in one hand. Put a can of “Shinola” shoe polish in the other. Calmly, and in low tones, explain the difference.
is the buddy a retard?
Give him a rousing “I will eat the hearts of the shorts” kind of speech
Stand up all those who think Galleon is going to pull through and we’ll all still have our jobs…………Sit down Buddy
@6 haha. dick.
-fuld
point to his ass…point to hole in the ground…tell him they are different…his mind will be blown, and he will think you are god…will then believe anything you say.
Deferred comp in AMD stock?
@6 those work.
-df
There’s gotta be some kind of online venue where one might be able to have this information posted for his buddy to see. That would spare him the trouble….now if we could only figure out where one might be able to find such a medium.
Death therapy, Bess. It’s a guaranteed cure.
Say it with a Fudgie the Whale cake.
@13 – It’s the only problem that’s also the solution.
It’s kind of like a homonym.
He’s partly right. All his blow is over.
@14 Brilliant. If that fails, tell him, hes been screwed, its time to go to disney world.
Why is his deferred comp a complete write off? Presumably it’s indexed to the fund, not the mgmt co. The fund’s being liquidated, it’s not bankrupt. There’ll be a haircut due to exiting the less liquid positions, but the fund’s value should be mostly OK. Unless the mgmt co has huge liabilities, he should get most of his comp (and be unemployed)
I know his friend. He’s the janitor’s assistant at Galleon.
Looks like they were in a bunch of momo names and would actually have done well this year without the “edge”. Imagine if this shit came out a year ago and they were forced to liquidate.
Uhhh…to echo 5, is your buddy a retard? His deferred comp is money in the fund. When the fund liquidates that money doesn’t vanish into thin air. He might want to get a lawyer just to make sure he doesn’t get screwed.
I would be curious what the existing case law is in this kind of situation. This definitely isn’t the first time a fund has liquidated prior to deferred comp vesting.
break it to him in rap.
His deferred comp is probably in the GP. It will be tied up in litigation for years. He should check his couch for loose change.
@23 is correct
Does his friend have an MBA or CFA?
@25 – He works at Galleon. CFA…come on.
@26 – What does that mean? I thought CFA’s were held in higher regard than MBA’s? Does anyone happen to have an opinion on this?
He’ll find more change in Raj’s folds, cracks and bodily crevices.
@22 FTW!