Yesterday, while discussing the blown Tigers call, Mark Haines told Erin Burnett that her cavalier attitude about the whole thing (EB thought it was NBD) was the reason “women shouldn’t be in charge of sports.” Erin did not appreciate that and things got noticeably tense! We suggested that the whole thing be settled with a hardcore, no holds barred fight in the break room (talkin’ bodies thrown across desks. Talkin’ Xerox machines to the face). They did not take that advice and presumably just avoided each other for the rest of the day because this morning they were still awkwardly debating whether or not ladies have a place in sports. Erin told Haines resolve this was the two of them, mano y mano, in some sort of competition. Haines said sure, let’s do this, but what? Erin threw arm-wrestling out there which I guess could work but isn’t that great. Naturally the event will be televised and the viewers should have a choice. It would certainly add a little something if there were guns involved so I think the biathlon could be fun. Shot putting has potential as does handball, and Haines already has the shorts. Of course, one ever said this had to be a test of strength, but maybe just heart, so a round of the penis game, on the floor of the NYSE could be interesting. Dance Revolution contest. Thumb wrestling. And then there’s my top pick: THUNDERDOME (with the money on Burnett). Continue reading »
Archive for June 2010
BP places cap on leaking pipe, but success unclear (MarketWatch)
U.S. Coast Guard Adm. Thad Allen said the cap was a “positive development” but added that “it will be some time before we can confirm that this method will work,” according to media reports. The cap was lowered into place late Thursday after the oil giant earlier managed to sever the leaking pipe. However, the company had to resort to using shears to complete the cut after a bid to saw through the pipe failed.
Super Fast Traders’ New Edge (WSJ)
“It is a rigged game,” Sal Arnuk, co-founder of brokerage firm Themis Trading, said at a Securities and Exchange Commission roundtable discussion in Washington, D.C., referring to the trading activity, which some call “latency arbitrage.”
Laos Set For Capitalist Leap Into Stock Market (Reuters)
“There is huge potential in development but limited sources of financing,” said Vathana Dalaloy, deputy secretary general of the country’s newly formed Securities and Exchange Commission, which is setting up the bourse as a $20-million joint venture with Korea Exchange, Asia’s fourth-largest bourse operator. Plans for the exchange also cast a spotlight on one of the world’s last remaining hermit economies where annual gross domestic product (GDP) growth has averaged more than 7 percent over recent years, according to the Asian Development Bank (ADB). GDP was worth about $6 billion in 2009, according to World Bank data, with GDP per capita of nearly $900 compared with $4,000 in neighboring Thailand. With numerous rivers flowing through its misty, forest-clad mountains, Laos wants to become the “battery of Southeast Asia,” selling power to its energy-hungry neighbors. Its jungles are also rich in minerals, attracting miners.
Man Sets Himself On Fire In Greek Bank (BW)
Police said the man entered a central Piraeus Bank branch Wednesday, carrying a can of fuel, and asked for the loans official. When told the official was away, he poured fuel over himself and set himself alight. Police said the man claimed to have financial problems.
Paulson Agrees To Buy Harrah’s Shares For Debt (AP)
A 9.9 percent stake in exchange for $710 million in debt.
Hedge-Fund Clients Withdrew $3.5 Billion in April (BW)
“Proposed financial regulation in the U.S. and Europe — some government folks aim to restrict the ability of banks to invest in hedge funds — might help explain domestic flow weakness,” TrimTabs and BarclayHedge said. Hedge funds in Asia and Canada received more money than those in the U.S. and Europe over the past 12 months, they said. Investors pulled a net $7.3 billion from equity long-short funds, according to the firms. That category had the highest redemptions.
Austerity Drive? Not For Luxury Execs (Reuters)
“I buy art. The price doesn’t mean anything. It’s totally emotional and what we need today is emotion,” said Jean-Marc Jacot, CEO at Swiss watchmaker Parmigiani Fleurier. “I like traveling for fun. I like very much to travel. My last travel for fun was Zanzibar.” Alex Bolen, CEO of U.S.-based fashion house Oscar de la Renta, likes his indulgences to keep bearing fruit. “I am desperate to have a nice garden. I have spent large sums of money on plants for my garden. I bought some fig trees,” he said.
Taconic Miracle (NYP)
A Lower East Side man whose BMW went flying off the Taconic State Parkway in Dutchess County early Sunday was found badly hurt but alive yesterday in dense woods. “I’m so happy to see you guys!” Thomas Wopat-Moreau told the troopers who found him. Wopat-Moreau, who had just left a late-night party, suffered a severe back injury in the accident and was unable to crawl more than 120 feet from the vehicle before getting stuck in a swamp. Wopat-Moreau, 22, was driving his 2005 silver BMW when it toppled down an embankment, going airborne before coming to rest about 480 feet away, upside down. Brown was covered with bugs and spiders and badly dehydrated as a result of his 100-hour ordeal. “He repeatedly said, ‘I want four pitchers of ice water,’ ” Brown said. Authorities had been hunting for Wopat-Moreau since he was reported missing after leaving a party in Stormville at 3 a.m. Sunday. Continue reading »
$$$ Banks will require more cushion for the pushin [WSJ]
$$$ Latvians Stimulate Economy With ‘Blonde Parade’ [DI]
$$$ Warren Buffett’s Anti-Competitive Profits [CNBC]
$$$ U.S. Amid Another Mini Credit Crunch? [FBN]
Lloyd’s just taking them out for some celebratory Jägerbombs (under the guise of a drill). Journalists, feel free to take this as a sign a settlement with the SEC is imminent.
Please be advised that today from 4:30 pm – 5:30 pm – Goldman, Sachs & Company will be conducting an evacuation drill from 200 West Street to Murray Street, west on Murray Street to River Terrace, north on River Terrace to Chambers street east on Chambers Street to West Street and back to 200 West Street.
Please note that the group size drill is 2,500 people.
We’ve long been of the opinion that what the Real Housewives series could really use is a hedge fund edition. Alex Cohen, Biff’s old lady, Eddie’s girl, Mrs. PTJ would all make for sensational television and I know I’m not alone in saying I would truly do unspeakable things to have Lisa Falcone and her piano-playing pig in my living room every Thursday night. Andrea Tong? Stop, I can’t even. Still, it’s been a bit of a tough sell, what with many of their husbands wanting to avoid publicity, and so on and so forth. But! I think we may actually be able to get this thing off the ground, thanks to two worlds colliding over the weekend. As we told you a couple weeks back, DealBreaker favorite Jim Chanos and Real Housewives of New York cast member LuAnn De Lesseps were scheduled to attend a gala event for the Miracle House charity (Chanos was being honored for his contributions, and De Lesseps was hosting the shindig). We weren’t sure if the two would hit it off but our fears were apparently entirely misplaced, ’cause hit it off they did. I’m talking role-playing on the first date hit it off. Continue reading »
Ed Andrews, former NY Times reporter and predatory lending victim, has a few words for the Oracle of Omaha in his latest blog post. Andrews was obviously hoping to get some straight talk from Warren at yesterday’s hearing, but he proved to be just like every other financier dragged in front of Congress who tries to Birnbaum his way out of answering questions. Ironically, it’s probably the first time Andrews and Charlie Gasparino have ever agreed on anything. Continue reading »
Woman Who Was Fired From Citi For Being “Too Hot” And Her Lawyer Have A Couple More Points To Make (Update: Citi Has Something Else To Say As Well)
By Bess Levin
Point number one, as a message to future employers considering requesting that Debs bring her hotness level down to the level of the rest of the office, she’d like to get it out there: “I’m not going to go eat and gain 50 or 100 pounds because my job wants me to be the same size as everyone else.” And point number two, from Lorenzana’s lawyer Jack Tuckner, (the guy who argued yesterday that asking his client not to be so hot because it was a distraction from work “is like saying, ‘we can’t think anymore ’cause our penises are standing up’,” and who was also the one who came up with the idea to have her pose in a bunch of outfits and positions, such as the one at left, to prove there was nothing inappropriate about her sartorial picks) is simply this: Continue reading »
Dick Fuld may think there was “no capital hole” at Lehman when it collapsed, but the bankruptcy examiner’s report showed giant losses in the balance sheet, especially when you take into account the famed Repo 105 transactions. But, the report still fails to add up.
Lehman’s bankruptcy administrator has put the losses at $130 billion. Lehman’s net worth as of May 31, 2008 was reported at $26 billion. So if we accept the $130 billion estimate, the swing from reported net worth to losses realized was over $150 billion. Naked Capitalism does some back-of-the-envelope calculations to find the source of the hole.
The Continuing Mystery of the Lehman Black Hole [Naked Capitalism]
No need for tears. Continue reading »
This morning, over the phone, David Einhorn compared the fear over not having official ratings agencies to utter terror he felt when his parents decided to move to Wisconsin when he was seven. “I didn’t know what would happen. I was very upset at the time, but we moved it kind of worked out OK. The idea that If we didn’t have official ratings, that something bad would happen, I don’t think that makes much sense,” he told Bloomberg TV. Continue reading »
Housekeeping: Recent Comments Are Back!
By Bess LevinKind of! I know many of you miss that little tab that went away during Apocalypse 2010. It’s not officially back yet but if you go here, it’s just like coming home again. No longer will you have to wonder who is telling you to go fuck yourself at that exact moment. You’re welcome.
Tags: housekeeping, recent comments, yay!!!