JPMorgan Number One Investment Bank Driven By Emerging Market Deals (Bloomberg)
The world’s best-paid investment bank in 2010 was JPMorgan Chase & Co. (JPM), which ranks No. 1 in the Bloomberg 20 for the third year in a row, with total fees of $4.14 billion. The bank also led the field in fees from bond and equity issues. Morgan Stanley supplanted Goldman Sachs Group Inc. (GS) for the No. 2 position in total fees for 2010, earning $3.67 billion. Goldman Sachs is No. 3 overall with $3.60 billion. It ranks No. 1 in earnings from mergers and acquisitions, as it has every year since the Bloomberg 20 started in 2004.
Raj Rajaratnam’s Biggest Bet Yet May Be To Take The Stand (WSJ)
The 53-year-old founder of Galleon Group has told people close to him that he intends to testify at his own trial, the biggest legal showdown over insider trading in a generation.
Barclays Awards Chief Executive $11 Million Bonus (Bloomberg)
Bob Diamond was awarded a 6.5 million-pound bonus for 2010 and a further 2.25 million pounds depending on the lender’s performance, London-based Barclays said in a statement today. His base salary will rise to 1.35 million pounds from 250,000 pounds after he became CEO on Jan. 1.
Brian Moynihan Said To Look Ahead To ‘Normal’ Performance (Bloomberg)
Bank of America CEO Brian Moynihan will tell investors tomorrow what profits to expect as the U.S. economy stabilizes and detail progress on his vow to increase shareholder equity, said two people with knowledge of his plans. The bank’s guidance to investors will include credit losses and estimates for return on tangible equity, a measure of shareholder returns that excludes goodwill, said the people. “The last two or three years have been anything but normal for Bank of America, and with indications we’re entering into a better environment, the company wants to give a sense of how its businesses ought to perform,” said David Havens, a managing director at Nomura Holdings Inc. “The disappointment that could occur is that the presentation will reflect the new reality” of lowered returns after U.S. bank regulations.
Most Economists Say Fed Easing Is Helping (CNBC)
The survey from the National Association for Business Economics found 62.4 percent of the economists polled think the central bank’s $600 billion stimulus plan is working. Another 21.8 percent see the policy, which has come under fire from some conservative politicians and a number of emerging market policy makers, having no impact. Another 15.8 percent said the program was actively harmful.
Mark Cuban, Charlie Sheen In Talks (ESPN)
Cuban confirmed Sunday evening that he’s had several conversations with Sheen recently about developing programming for HDNet, the cable network Cuban owns. “You’ve got somebody that everybody has a whole lot of interest in who’s doing some interesting things, to say the least, and we always look for interesting programming by featuring interesting people doing interesting things,” Cuban said before the Mavericks’ game against the Memphis Grizzlies. “I reached out and we’ve had some conversations, and we’re going to work on doing some things.”
UBS Names Joint Global Heads for Investment Banking Division (Bloomberg)
The bank named Matthew Grounds and Simon Warshaw joint global heads of its investment banking division after John Wall retired.
Another top exec is departing Goldman’s GSAM (IM)
Steve McGuinness, co-chief operating officer of Goldman Sachs Asset Management’s investment management business and global head of distribution and a 19-year firm veteran, is leaving the Goldman next month.
Moody’s Downgrades Greece (WSJ)
Moody’s Investor Service Inc. on Monday slashed Greece’s credit rating by three notches and signaled it could cut it even further, dragging the European sovereign deeper into junk-grade territory. The ratings agency downgraded Greece to B1 from Ba1, and kept its negative outlook. Standard & Poor’s and Fitch Ratings both rate the country slightly higher at double-B-plus, with a negative outlook.
Dog ate toes of diabetic Ore. owner as he slept (AP)
A dog ate three of his owner’s toes as the diabetic man slept, most likely out of instinct to help remove diseased flesh, animal experts say. James Little, 61, called 911 on Tuesday to say his dog had eaten the body parts while he was sleeping. He told The Associated Press on Friday that he is “doing fine.” Little suffers from diabetes, of which one symptom is numbness in the hands or feet. The dog, a Shiba Inu, was acting on its instinct to remove diseased flesh and does not appear to be dangerous, said Douglas County Animal Control Deputy Lee Bartholomew.
They dodged a bullet. I would have fucking quit if I had only gotten $15mm in total comp.
UBS sucks.
Unless Mark Cuban is also in talks with Dr. Drew with Charlie, I don’t think the guy is doing Sheen any favors.
Unfortunately, we couldn’t retain Mr. Wall’s talent – we just couldn’t afford to match the Wizards’ offer.
-O. Gruebel
Rajaratnam is too big to fail. Go Raj!
Charlie Sheen may have found the one person with an ego bigger than his. Amazing.
Mark: Call me.
~Jan-Michael Vincent
Raj has Tamil Tiger blood. He only knows winning.
Raj has Tamil Tiger blood. He only knows winning.
Since casually browsing Dealbreaker looking for a mention of my name I stumbled upon an unflattering pick of Raj Ratjarantam drinking calvados / spewing fattened poetry from his fingertips.
I’m thinking “Chuck and Raj vs Ladyboy lovers” after a Mavericks game – WIN!
Mark: Fuck these microcephalic clones call me.
:) Gary Busey
Uh..Mark….uh..um….don’t be messin’ with my interests in certain talented actors of the actin’ community…”WINNING!” is somethin I need in uh my um uh and you know the real reason is that talk is money in the NFL talent so I uh yes…therefore …uh and I want you to know thet I have “dibs” legal dibs….dibs is a legal term…..dibs I have on a certain person under assault now by the press and all for his recreational…um..alleged recreational use…HUH? yes the SuperBowl had its issues but give us another chance because we want to win, it’s our goal to win and an WINNING! should be a Cowboy slogan.
Excellent “SEC/Tranny/ladyboy” reference weaving, Mark!
-The Joke Briefer
The luckiest relatively smart guy in America (Cuban) had one relatively good idea (Broadcast.com) who managed to find one relatively extremely stupid company (Yahoo) to pay a relatively ridiculously huge $5.9 billion for a relatively tiny $15 mil/qtr revenue stream, and thus, Cuban has gone on to be relatively annoying, with an ego unmatched by anything substantive. Charlie Sheen should be relatively comfortable in the bed of hubris.
The luckiest relatively smart guy in America (Cuban) had one relatively good idea (Broadcast.com) who managed to find one relatively extremely stupid company (Yahoo) to pay a relatively ridiculously huge $5.9 billion for a relatively tiny $15 mil/qtr revenue stream, and thus, Cuban has gone on to be relatively annoying, with an ego unmatched by anything substantive. Charlie Sheen should be relatively comfortable in the bed of hubris.
I’m jealous too.
I’m jealous too.
I’m trying so hard to come up with something witty about the dog eating the guys toes in his sleep. But I’m hungover and can’t do it. Dammit.
I’m trying so hard to come up with something witty about the dog eating the guys toes in his sleep. But I’m hungover and can’t do it. Dammit.
think: d. kneale – let it come to you
He better keep his underwear on when he sleeps.
Ummm we are 18-2 over our last 20. You know what rhymes with grinning?
That’s a relatively relative judgement.
See what obamacare has done!!!?!?! American citizens have to wait so long to see a physician that their dog decides to perform the amputation himself to save thy master.
Duh..winning
I would’ve gone the “can’t afford dog food” route myself.
$4.14 billion in corporate finance fees and still won’t give more than $20 for dinner…
- ex House of Dimon IBD
Paula Dean needs to be riding Raj Raj in that picture. Just Sayin’.
Paula Dean needs to be riding Raj Raj in that picture. Just Sayin’.
At this rate the summer interns are going to have seniority over everyone else in the place.