Archive for February 2010

  • 26 Feb 2010 at 5:32 PM

Write-Offs: 02.26.10

$$$ Gatorade drops Tiger Woods [WSJ]

$$$ Another Madoff Defendant From the Fringes [Dealbook]

$$$ A new way to buy and sell ideas. [The Atlantic]

$$$ Are the Feds getting closer to nailing NIR Group for stock kickback scheme? [CTNews]

$$$ Petra sets record, sells diamond for $35 million [Reuters]
$$$ Utah Developer Provides A Real Rustic Experience® For Finance Types [Daily Intel]

  • 26 Feb 2010 at 4:45 PM

Ken Lewis Wasn’t Completely Gypped Last Year

Picture 197.pngNo, he didn’t take a salary or bonus last year, which chafes. But don’t cry Strawberry Hill tears for Boone’s Boy just yet. ‘Cause there’s this:

Former Bank of America CEO Ken Lewis received…$32,171 in 2009 as the bank struggled with loan losses and repaid billions in federal bailout money, according to an Associated Press analysis of a regulatory filing.
Friday’s filing shows that Lewis received no salary or bonus. His compensation was limited to perks including tax services and parking.

  • 26 Feb 2010 at 3:13 PM

Vikram Is Watching You

Picture 196.pngTeam Citi can’t keep track of its own money, but they will track yours and that of your neighbor, thanks to the Bundle, which “removes the veil of secrecy from how other people save and spend their money.” For example, you can learn that “Singles, 36- to 49-year-olds in Dallas spend $57 per month on hobbies. Who knew?” The main argument is that “being privy to the financial habits of others helps guide a person’s own activity.” What? Okay no but seriously– WTF?

  • 26 Feb 2010 at 3:10 PM

Winners And Losers

Apparently John Paulson’s luck hasn’t run out just yet.

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  • 26 Feb 2010 at 2:56 PM

Jamie Dimon No Longer Wanted In Hotlanta

Picture 195.pngAs of Wednesday, Jamie Dimon couldn’t fly through Atlanta, because he was at risk of being arrested, for illegally dumping used tires, according to CBS news. Apparently, though, ha ha, it was just a bit of a mix up.

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  • 26 Feb 2010 at 2:20 PM

How Will Eliot Spitzer Back Governor Paterson?

As you’re aware, Governor Paterson won’t seek reelection ’cause of a few little bombshells in the Times. So Mr. P is having a press conference at 3 and we’re hoping he’s going to announce a Spitzer involvement in some capacity (as we wrote last week, the Gov has been asking Spitzer to “advise” him on several matters). Any ideas how?

  • 26 Feb 2010 at 1:40 PM

RBS Bonuses Maybe Not So Bad This Year?

Picture 194.pngThe other day we mentioned that RBS had been granted permission to give out bonuses, though casually suggested the sums wouldn’t be anything to write home about, unless you’re into subordinated debt, in which case, buckle up. There’ve been a few stories out about how the numbers were actually pretty okay, and while Bambi at Beamers is yet to mention anything about her favorite Stamfordians making it rain, at least for the chippies across the pond it seems like the Queen’s bitches might not have fared to badly.

On the day when Royal Bank Of Scotland announced it was handing out £1.6 billion in bonuses, a mystery banker ran up a bar bill of almost £44,000 at Mayfair club Aura. He was with five friends as they splashed thousands on Cristal champagne in just two and a half hours.

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  • 26 Feb 2010 at 12:59 PM

Robert Benmosche Loves You All

Picture 193.pngAs you know, AIG’s fourth quarter results came in– not so good!. In any case, Bobby B. is happy and wants the world to know it. AIG reported a loss of $8.9 billion in the fourth quarter, which is an improvement from the $61.7 billion loss in the year-ago period. And this, my friends, is making Bobby “proud” and he wants to thank you. Yes you, all of you. He “appreciates the support of the people in this country.” Bobby is also very thankful to have such wonderful employees. Employees, who not only work at the most despised company, but who do so “with commitment and enthusiasm.” He’s “very impressed with their attitude and the willingness to roll up their sleeves and make things happen.”
Also, he’s got a plan.

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