China: No Wild Parties At Taxpayers’ Expense (AP)
As usual, Jim Chanos called this one: “Some of the parties to make headlines have seen officials die after excessive drinking at banquets. One official was arrested after diary entries he allegedly wrote appeared online describing casual sex, drinking and under-the-table payments at parties. Lavish official tours to Las Vegas and other places cost taxpayers about 400 billion yuan ($58 billion) every year, according to state broadcaster CCTV. On one such trip several years ago, officials spent taxpayers’ money on a $700-a-night Las Vegas hotel and visits to a San Francisco sex show. It reached a point where President Hu Jintao gave a speech in April warning officials of the temptations of beautiful women, money and power.
Passenger Outrage Rises as Winter Storm Snarls U.S. Travel (Bloomberg)
Advice for anyone struggling to keep his or her cool: get ornery! What are they going to do, arrest you? Put you in airport jail?
Snowblind Mayor Admits NYC Probably Could’v Done Better (NYP)
Hizzoner is sorry.
BlackRock to Launch Internal Trading Platform (FT)
“We are developing the technology in-house to offer better value by lowering trading costs,” said Rob Kapito, BlackRock president and one of eight founders of the company, in an interview. The plan is that if some BlackRock clients are selling a security and others are buying, the group can “cross” those trades internally without going through a Wall Street bank.
Pope To Issue New Bank Norms Amid Laundering Probe (ABC)
The Vatican planned to issue new rules Thursday designed to make its financial transactions more transparent after a money laundering probe resulted in the seizure of 23 million euros ($30.21 million) from a Vatican account. The rules are expected to create a compliance authority to oversee all Vatican finances, as required by EU and other international organizations involved in the fight against money laundering and terror financing. Vatican officials confirmed Wednesday that Pope Benedict XVI’s executive order — called a “motu proprio” — making the rules into law, would be released Thursday.
Pandit Praises Citigroup’s ‘Rebirth’ (Dealbook)
“External audiences are starting to give us the recognition we have earned,” Pandit said in a memo to employees. “Our credit spreads have tightened, analysts increasingly like what they see, and the public is starting to acknowledge the many signs of real progress…The successes of this year significantly add to the transformation and rebirth of our Company. We have a great deal of hard work ahead — hard work that I believe can and should lead to even better years in the future.”
Ashton Kutcher toughening up for Armageddon (SFGate)
All of this: “The movie star and produce fears a major U.S. energy meltdown is nigh and he’s trying to get super fit so he can deal with the chaos that will follow a blackout or worse. Kutcher discovered combat training Krav Maga last year as he prepared to tone up for his role in “Killers” and now he’s obsessed with running, Bikram yoga and Muay Thai fighting with the French national champion – and he insists he’s committed to his extreme workouts, so he can dominate in desperate times. The 32 year old tells Men’s Fitness magazine, “It will not take much for people to hit the panic button. The amount of convenience that people rely on based on electricity alone. You start taking out electricity and satellites, and people are going to lose their noodle.”
AIG Stock’s Unlikely Comeback (WSJ)
The magic touch of Bobby Benmosche: “On Tuesday, AIG’s publicly traded shares closed 45 cents lower at $58.93, capping a nearly 97% gain in the year to date and over 42% in December alone. The insurer is the fourth-best performer in the S&P 500 index this year.” Benmosche has been signing his emails “get somea this” ever since.
SEC Probes Trading in Facebook, Private Firms (WSJ)
If there’s a raid, Zuckerberg should promise us pictures now, and a status update re: what he’s feeling at the time.
Sugar ‘dady (Sun)
Prize-winning dealer Mike Baghdady wants to find ten new recruits who he can turn into future stars of the stock exchange. The lucky ten will each be given £100,000 of cash in the new year to play the markets – be it betting on TESCO shares or buying and selling oil futures. “Trading has always been an elusive dream for most people,” Baghdady said. “But, humbly, I’m confident I can turn someone into a Rooney or Ronaldo of the markets.”
Hard Call For The FDIC: When To Shut A Bank (WSJ)
It’s an art, really: “Killing a bank too soon could mean getting rid of a financial institution that might recover to make solid, profitable loans. Waiting until all of a bank’s capital is gone deepens the losses suffered by the FDIC’s deposit-insurance fund, putting additional strain on surviving banks that pay into the fund.”
Trump Evokes Doubts of Fading `Apprentice’ With Golf as Brand (Bloomberg)
Trump has acquired nine golf properties in the U.S., including four since 2008, after mostly steering clear of using his own money to buy real estate since 2005. In July, he started building a 750 million-pound ($1.15 billion) luxury golf course and resort in Scotland. Trump says that putting his name on the courses increases membership sales and the fees he can charge.
Tucker Carlson: “I Personally Think [Michael Vick] Should Have Been Executed” (Mediaite)
Programming Note: We’re on an abbreviated vacation-esque schedule ’til Monday (opening/closing wraps and very limited updates whenever the urge to reach out and touch you moves us). We still want to hear from you, though, so if someone gets nailed for insider trading, Lloyd announces he’s quitting to join Cirque du Soleil in 2011, or anything else happens that you think might tickle our fancy, do not hesitate to let us know.
Is our friend enjoying his mini vacation in Salt Lake City?
Now what could be better during societal breakdown than martial arts knowledge? I wonder…
http://www.youtube.com/watch?v=anEuw8F8cpE
Having recently watched the Will Smith documentary I Am Legend, I think Mr. Kutcher with his years of acting experience has a good point. Our skills as financial analysts and blog commenters will be useless come the apocalypse. I’ve already queued up some Jackie Chan movies on Netflix.
Killing dogs is unforgiveable… WTF? We are going to take you round eyes down!
- All of China
I see what you did there.
I knew it!! The Pope is a fucking Sooner! That explains a lot.
“….The plan is that if some BlackRock clients are selling a security and others are buying, the group can “cross” those trades internally without going through a Wall Street bank….”
What a great idea!!!
-Association of Former Enron Geniuses
Hi Guys,
Hope this helps for anyone that’s currently stuck in Salt Lake City. Chin up! ;)
-LEH Quant
1. Temple Square & Related Sites
Temple Square is Salt Lake City’s most popular attraction, and you could spend anywhere from an hour to a day or two visiting the square itself – with its grand six-spired temple, two visitor’s centers, lovely flower gardens and fountains – and nearby sites related to the Church of Jesus Christ of Latter-Day Saints. Area attractions include the Assembly Hall, Tabernacle, Museum of Church History and Art, Family Search Center, Beehive House, Lion House, Brigham Young Historic Park, LDS Conference Center and Joseph Smith Memorial Building. Temple Square offers hundreds of free movies, dramatic programs and music events every year. Temple Square Hospitality runs several popular restaurants. All attractions except the restaurants are free.
2. The Gateway
The Gateway on the west side of downtown Salt Lake is the city’s best outdoor shopping center and a lot more, with a nice mix of upscale shops and restaurants, a twelve-screen movie theater, and two of Salt Lake’s most popular museums: The Clark Planetarium and Discovery Gateway Children’s Museum. Salt Lake’s historic Union Pacific Building hosts art exhibits and serves as an entrance to The Gateway’s Olympic Plaza and popular Olympic Snowflake Fountain. Part of the Union Pacific Building has been renovated as The Depot, one of Salt Lake’s most exciting music venues.
Just east of The Gateway is EnergySolutions Arena, home of the Utah Jazz and Salt Lake’s biggest event arena.
3. Capital Hill
The Utah State Capitol, at 300 N. State St., sits atop a hill overlooking the Salt Lake Valley. The building was constructed in 1912-1916 and renovated in 2004-2008.
Free guided tours of the capitol are offered on the hour between 9 a.m. and 4 p.m., Monday through Friday, except holidays. Tours begin just inside the capitol’s east doors. Evening tours may be reserved on Wednesdays at 5, 6 and 7 p.m. by e-mail at capitoltours@utah.gov or by phone at 801-538-1800. Self-guided tours are available any time the capitol is open, Monday-Friday 8 a.m.-8 p.m., Saturday and Sunday 8 a.m.-6 p.m.
Visitors to Capitol Hill can also enjoy the capitol’s beautiful grounds, the free Daughters of the Utah Pioneers Museum and the picturesque White Chapel.
4. Hogle Zoo
Utah’s Hogle Zoo dates from 1931 and is located at the mouth of Emigration Canyon at 2600 E. Sunnyside Avenue. The Zoo is one of the most visited attractions in Utah and the top paid-for tourist attraction in Salt Lake City. It covers 42 acres and includes more than 800 animals.
Hogle Zoo’s top exhibits include Asian Highlands and Elephant Encounter. Little ones will enjoy the classic Zoo Train and new Conservation Carousel. Don’t miss the World of Flight Bird Show during the spring, summer and fall. From Thanksgiving to New Year’s Eve, Hogle Zoo is transformed into a winter wonderland with the popular Zoolights display.
5. This is the Place Heritage Park
This is the Place Monument in Emigration Canyon marks the spot where Brigham Young and the Mormon pioneers first entered the Salt Lake Valley on July 24, 1847. Looking over the Salt Lake Valley, Young declared, “This is the right place.” One hundred years later, a heroic bronze sculpture of Young and two of his colleagues was placed atop a 60-foot pedestal to commemorate the pioneers’ arrival.
This is the Place Heritage Park includes a restored pioneer village with live demonstrations of pioneer life and a restored Brigham Young farmhouse.
This is the Place Heritage park is directly across from Hogle Zoo at 2601 Sunnyside Ave. Open 9 a.m.-5 p.m. spring through fall, ll a.m.-4 p.m. in winter. Programs are limited in winter and on Sundays.
6. University of Utah
The University of Utah is not only one of the state’s leading educational institiutions but also an important cultural and sports center for the city and the state of Utah. The U of U campus includes two of Salt Lake’s favorite museums, the Utah Museum of Fine Arts and the Utah Museum of Natural History The campus is also home to Salt Lake’s favorite garden spot, Red Butte Garden.
Top performing arts venues on the U of U campus include Kingsbury Hall and Pioneer Memorial Theatre. The U of U’s top sports venues are Rice-Eccles Stadium and the John M. Huntsman Center. Just south of Rice-Eccles Stadium is the Olympic Cauldron Park, including the Salt Lake 2002 Visitors Center.
7. Liberty Park & Tracey Aviary
Liberty Park is Salt Lake City’s second largest public park and includes trails, playgrounds, a pond, paddle boat rentals, tennis courts, picnic facilities, amusement rides and a water play area. Liberty Park includes the Chase Home Museum of Folk Arts and the excellent eight-acre Tracy Aviary, one of two free-standing aviaries in the United States.
8. Liberty Square
Library Square, at 210 East 400 South, includes not just the award-winning Salt Lake City main library, but also shops, a cafe, a Salt Lake Community College Writing Center and the studios of KCPW, a local NPR affiliate. Library events include art exhibits, lectures, film screenings, cultural performances, book groups and kids’ activities.
Near library Square, at 451 South State Street, sits the impressive Richardson-Romanesque-style Salt Lake City and County Building, headquarters of both city and county governments. Tours of the building are offered every Tuesday during the summer.
Also near Library Square is the old Salt Lake City main library, future home The Leonardo, a multi-million-dollar science museum set to open in April 2011.
9. Bingham Canyon Copper Mine
The Kennecott Bingham Canyon Copper Mine in the southwest corner of the Salt Lake Valley is the world’s largest man-made hole in the ground and has produced more copper than any other mine in history. It is one of two man-made objects seen from space.
The mine’s visitor’s center and observation area provide a fascinating view of the mine’s operations. It’s worth the trip just to see the mine’s 80 enormous trucks, each capable of hauling 255 to 320 tons of dirt and rock in a single trip.
12800 South State Route 111
Bingham Canyon, Utah
8 a.m. 8 p.m. – seven days a week, April 1-Oct. 31 only
Please arrive one hour before dusk to allow time to visit.
Admission: fees are $5 for automobiles, $25 for mini-tour buses and $50 for a bus.
10. Thanksgiving Point
Thanksgiving Point is a huge recreation area near the Point of the Mountain that includes spectacular themed gardens, a farm and agriculture center, movie theaters, an IMAX, shops, restaurants, a golf course, party and reception facilities, and the world’s largest indoor dinosaur museum. There’s so much to see and do at Thanksgiving Point that it’s difficult to describe, but Thanksgiving Point definitely offers an escape from the everyday.
Thanksgiving Point is located about halfway between Salt Lake City and Provo just off Interstate 15 at the Point of the Mountain. For detailed driving instructions from your location, call 801-768-2300.
shut your mouth when I’m talking to you!
Wow. this is a slow day…
Say what you will but we never lost money. We printed it. Ask anyone.
Trader Who Used to Work for Enron and Is Proud of It
Ashton Kutcher sometimes confuses his keen understand of Demi’s vag with that of a national power grid.
Actually rather true. Those dumb broadband & India Power Schemes is what took the company down.
is it? really? why could that possibly be do you think?
Well, quite honestly the first clue is that my Sooners were mentioned on DB. & Mack Brown can suck it. Other than that I have no concerns.
don’t ever do that again
Enron’s two biggest mistakes: selling off EO&G and letting Rich Kinder walk.
It’s a slow news days and OU still sucks!
“Lavish official tours to Las Vegas and other places cost taxpayers about 400 billion yuan ($58 billion) every year, according to state broadcaster CCTV. On one such trip several years ago, officials spent taxpayers’ money on a $700-a-night Las Vegas hotel and visits to a San Francisco sex show.”
Was that wrong of me? Was I not supposed to do that?
You don’t think the biggest mistake was having to declare bankruptcy?
Pretty sure he’s implying causation i.e. selling EO&G & letting Kinder go is what made them bk… I mean its not like Jeff Skilling et al. got stoned one night and decided to declare Ch. 11 just for shits & giggles.
So where’s your BCS game?
Being a lobbyist for Chinese government officials sounds like a good career path.
the quote is, ‘was that wrong? should I not have done that?’
can you get anything right?
ROR… but hits close to rome
I just threw up my breakfast !
Better to watch “A Boy and His Dog” starring Don Johnson.
The Dog smells food, pussy and can tell you where to find it.
And yet, Nevada has 15% unemployment.
“You start taking out electricity and satellites, and people are going to lose their noodle.”
Good point. I mean, just look at what happens to the masses when Dealbreaker scales back for a few days.
You can’t spell “cocksucker” without an “O” & “U”
I base my knowledge of Enron solely on that movie, the smartest guys in the room that seems to be playing on the loop on CNBS but it seems like a lot of your printing of money had to do with being manipulative assholes. Is that not so?
until it ends in a bullet at the back of the head…
It’s ok, he’s obvs from UT.
Am I the only one who gets the impression that Bruce Willis is fucking Ashton too?
Yes, you are.
not at all.
agreed.
Actually, they shoot you through the back of the neck. Just as fatal and less messy.
It’s “nuh Vaaa duh”, not “nuh Vodda”.
-Guy from Bee-AT-triss, NE
jerseymall.org
s(n)ow day*
2J14jD Thanks for sharing, this is a fantastic post.Much thanks again. Really Great.