Are you out of job? Homeless? If you haven’t checked your email yet this morning, please allow me to disseminate some incredible news. Michael Moore is here to help. How? Movie night! Oh, that’s right. You might not have a paycheck or a place to live but tonight lady luck enters your universe. Moore is offering free admission to his new movie. For those who haven’t been keeping up, the flick is all about how the Ponzi scheme that is capitalism screwed you, and the reason you’re in your current predicament (it’s a rom-com). While you’ll have to pay for your own popcorn and snacks (this ain’t no free for all), you should allow your mouth to remain agape a little while longer, in awe of such generosity. Would Goldman Sachs ever do anything like this* for you? That’s what I thought.
From: Michael Moore
Date: Thu, Oct 1, 2009 at 7:48 AM
Subject: Free Screenings Tonight of “Capitalism” for the Jobless and Homeless in America’s Hardest Hit Cities (plus local benefit premieres all across the country)
Friends,
We’re just one day away from the widest opening I’ve ever had for any of my movies. Tomorrow, Friday, October 2nd, “Capitalism: A Love Story” opens on over a thousand screens across the United States, a record for an independent documentary.
This follows last weekend’s limited opening in New York and L.A. where “Capitalism” set the box office record for the highest per screen average of ANY movie released so far this year. Not just any documentary — any MOVIE! It was, as the studio said, a good indicator of just how well the movie may do when it goes wide this weekend. I sincerely hope they’re right because I believe deeply in this film.
To kick off the national release of “Capitalism: A Love Story,” I’ve asked the studio to offer a number of screenings in the nation’s hardest hit cities — the ones with the highest unemployment rates and highest foreclosure rates — where those who’ve lost their jobs or who are in foreclosure (or have already been evicted) may attend my film free of charge. They’ve agreed, and so tonight (Thursday), the night before our opening day, ten cities will grant you free admission if you have fallen on hard times. The list of theaters and cities is below. You don’t need to bring any “proof” of your situation — just show up — it’s the honor system, no questions asked.
*The best LB has ever done is deeply discounted tickets to watch slides of his youth.
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Please find the following estimate of the net returns of funds managed by Third Point LLC for the month of September and for the year 2009.
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Through a vote of 309-247, it looks like there are enough Italian politicians that believe the ends do justify the means to pass Silvio Berlusconi’s ‘pay 5% and wipe your tax record clean’ plan. The economic argument is pretty convincing. With Italians playing hide and seek with €300 billion abroad, if the government hits its mark of having a third of that declared, a €5 billion euro addition to the coffers will not go unnoticed. However, the real dispute is about the appearance of allowing organized crime members to get away with tax evasion murder. But Finance Minister Giulio Tremonti says anybody who knows a thing or two about Italian criminals could tell you that these concerns are completely misplaced.
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Ken Lewis’ Farewell Letter: “Not For the Faint of Heart” (DJ)
A few thoughts from the (soon-to-be departing) CEO.
1. This year’s annual Labor Day weekend trip to the mountains wasn’t as relaxing as usual.
2. It feels pretty great to see that some people, whose names I can’t recall, are finally coming around to realize the genius of the Merrill Lynch acquisition.
3. I had other offers from better banks before joining BAC but choose to pass them up.
4. This has nothing to do with Andrew Cuomo.
5. And finally:
Most important to me is this: I will leave knowing that almost anywhere I go in this country, I’ll be able to walk into a Bank of America banking center and receive a warm greeting. I will be able to travel the world, and visit towers full of bright, energetic associates creating financial solutions for companies of every size and shape.
Everywhere I go, I will know and see that the company I had the privilege to serve for 40 years is in good hands…Thank you for allowing me to lead the greatest financial services company in the world.
JPMorgan Hopes To Heal New York-London Laceration (WSJ)
Apparently the New York team “second-guessed” a decision by the London team last summer leading to a very dramatic-sounding trans-Atlantic row that pitched Bill Winters and Steve Black against one another. Then they started bitching to their colleagues, they made up before Daddy Dimon could find out what happened, but the tensions between NY and the chippies across the pond are still there yadda yadda yadda, it’s now Jes Stanley’s job to stroke everyone’s hair and make things better over chamomile tea.
London Begins To Lose Appeal For Hedge Funds (FT)
London’s share of the world’s hedge fund assets fell 2 percentage points in 2008, while New York’s portion grew the same amount.
Has Michael Vick Been Resigned With Nike? (CNBC)
The company won’t comment at this time but bark twice if it’s a yes.
Debate Heats Up Over Naked Short-Selling (Dealbook)
“There is good evidence to say that Bear Stearns went down due to abusive short-selling,” Senator Ted Kaufman told DealBook. “I think all the folks that were involved and made money off that event are still around, and we have done nothing, nothing, nothing to change the system.”
HFT: Samantha Bee Would Like A Piece Of This Action (CC)
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