December 2011

  • Write-Offs

    Write-Offs: 12.30.11

    $$$ U.S. stocks are set to end a volatile year up 0.3% [FT] [Update: down 0.003%] $$$ Banks Face Off For Facebook IPO [WSJ] $$$ “Our theories of shareholder value maximization and stock-based compensation have the ability to destroy our economy and rot out the core of American capitalism.” [Forbes] $$$ “There are two sustainable […]

    / Dec 30, 2011 at 2:02 PM
  • Opening Bell

    Holiday Bell: 12.30.11

    BofA Posts Worst Showing In Dow Average (Bloomberg) The 59 percent decline through yesterday erased almost $80 billion of shareholder value at Charlotte, North Carolina- based Bank of America. It’s the firm’s largest drop since a 66 percent plunge in 2008, when a U.S. bailout staved off a collapse. The bank probably will also end […]

    / Dec 30, 2011 at 10:37 AM
  • Write-Offs

    Write-Offs: 12.29.11

    $$$ Goldman, Morgan Stanley Fight For Facebook Gold [WSJ] $$$ Gold Bubble Seen by Soros on Brink of Bear Market [Bloomberg] $$$ Princeton Brews Trouble for Us 1 Percenters [Bloomberg] $$$ Marching Orders for Paul’s Volunteers: Do Shave, Don’t Tweet: …they say they are under strict orders: To look, dress, shave, sound and behave in […]

    / Dec 29, 2011 at 6:12 PM
  • Opening Bell

    Holiday Bell: 12.29.11

    Dithering at the Top Turned EU Crisis to Global Threat (WSJ) In April, after a year of drama and bailouts, the euro zone seemed to have contained the immediate crisis to Greece and other small countries. Crucially, euro-zone economies such as Spain and Italy had avoided the panicked flight of capital. They were still able […]

    / Dec 29, 2011 at 10:55 AM
  • Write-Offs

    Write-Offs: 12.28.11

    $$$ European Bank Worry: Collateral [WSJ] $$$ Elsewhere, Italian debt costs tumble after auction [FT] $$$ Fed seeks to curb repo market risk [FT] $$$ Allen Stanford’s Bid to Delay Trial Denied [Bloomberg] $$$ Nadex Files To List Options On 2012 Presidential Election Outcomes [Dow Jones] $$$ Feuding monks brawl at Church of the Nativity […]

    / Dec 28, 2011 at 5:53 PM
  • Opening Bell

    Holiday Bell: 12.28.11

    Internal BNY Mellon Documents Show Panic (WSJ) An informant in a state fraud case against Bank of New York Mellon Corp. has provided prosecutors a rare inside peek into how the bank allegedly scrambled to contain the fallout from a fast-growing government investigation, according to hundreds of pages of confidential documents. As investigators sought to […]

    / Dec 28, 2011 at 10:54 AM
  • Write-Offs

    Write-Offs: 12.27.11

    $$$ The Worst C.E.O.’s of 2011 [DealBook] $$$ Obama to Name Two Fed Board Nominees [WSJ] $$$ Banks Boost Lending as Economy Slowly Warms Up [CNBC] $$$ Carlyle’s timing pays off for investors [FT] $$$ SEC Seeks Emergency Hold On Citi Suit [WSJ Law Blog] $$$ Goat Flees Nativity Scene, Still On The Lam [HuffPo]

    / Dec 27, 2011 at 5:31 PM
  • Opening Bell

    Holiday Bell: 12.27.11

    Economic Downturn Took A Detour At Capitol Hill (NYT) Largely insulated from the country’s economic downturn since 2008, members of Congress — many of them among the “1 percenters” denounced by Occupy Wall Street protesters — have gotten much richer even as most of the country has become much poorer in the last six years, […]

    / Dec 27, 2011 at 11:47 AM
  • Write-Offs

    Write-Offs: 12.23.11

    $$$ Muni Bonds: A Disaster That Wasn’t [WSJ] $$$ The trader who is killing it at Cohen’s $14 billion SAC Capital Advisors this year is Gabriel Plotkin. The portfolio manager, who specializes in consumer products and the gaming and lodging industry, is one of the top producers this year at Cohen’s hedge fund, say several […]

    / Dec 23, 2011 at 2:08 PM
  • Sponsored Content

    Steven Alan take an additional 25% off all SALE!

    Having spent the past 17 years creating a mini fashion world grounded in classic American roots – fashioned with a twist – it’s clear that Steven Alan has quietly emerged an uncommon fashion pioneer.

    / Dec 23, 2011 at 2:00 PM
  • News

    Dear SAC Capital Investors

    Steve “Call him ‘Stevie’ and you’re a dead man” Cohen was reportedly up 8 percent after fees through the end of November. If anyone out there has been having a tough go of things this year and is looking for some guidance re: how he does it as we head into the last trading week […]

    / Dec 23, 2011 at 2:00 PM
  • News

    When Do-It-Yourself Bonuses Backfire

    Helen Kapoutsos, a 28-year-old West Hartford woman, was arraigned Thursday, charged with embezzling nearly $170,000 worth of checks and credit cards charges used to pay for a lavish lifestyle of shopping sprees, romantic getaways to Nantucket and a trip to Aspen, CO…Kapoutsos’ employer went to New Canaan police in September to complain that his personal […]

    / Dec 23, 2011 at 11:58 AM
  • News

    Phil Falcone Isn’t Finished Here

    Let’s role-play for a second. You’re a well-known hedge fund manager who’s had a really, really shitty 18 months. Your investors hate you, because of petty little stuff like 1) you loaned yourself $113 million from a gated fund to pay personal taxes 2) you tied up a good chunk of their money in a […]

    / Dec 23, 2011 at 10:53 AM
  • Opening Bell

    Opening Bell: 12.23.11

    S&P Report on Euro Zone Ratings Seen Next Month (Reuters) Standard & Poor’s is expected to release its eagerly awaited verdict on debt ratings for 15 euro zone countries in January, two independent European government sources told Reuters. “We have got an informal signal from Standard & Poor’s that they will come only in January,” […]

    / Dec 23, 2011 at 10:13 AM
  • Write-Offs

    Write-Offs: 12.22.11

    $$$ House G.O.P. Leaders Reach Agreement on Payroll Tax [NYT] $$$ Risk Is Out, and Goldman Sachs Cuts Ties With Brokers [WSJ] $$$ Hungary Defends Economy After Ratings Downgrade [WSJ] $$$ Lauren E. Weinberg, a 23-year-old ASU business student, told Sheriff’s deputies she survived in her car for nine days without cold weather gear and […]

    / Dec 22, 2011 at 5:41 PM
  • News

    You Think You’ve Got Problems?

    Yes, you might get fired next year. Yes, your only hope of not closing down 50% may be based on how charitable a fat guy and his reindeer are feeling. Yes, you might have career-hindering pores. But here’s a little reality check: you don’t know from problems. You want to talk about problems? About stress? […]

    / Dec 22, 2011 at 5:29 PM
  • News

    John Paulson’s Got Good News And Bad News

    The bad news, if you’re a Paulson & Co investor that doesn’t have a special situation worked out with JP on the side, is that the firm’s funds are down by a lot. A whole lot. The good news is that you’ve all now been offered a unique opportunity.

    / Dec 22, 2011 at 4:12 PM
  • News

    FrontPoint Partners Basically Just A Bunch Of Guys Hanging Around Shooting The Shit Now

    That may change though, after their chairs and desks are sold.

    / Dec 22, 2011 at 3:42 PM
  • News

    BarCap Has No Idea What The Wall Street Journal Is Talking About

    Barclays Capital, the investment-banking division of Barclays PLC, has run up significant losses trading base metals this year after a series of bets it made on copper, nickel and aluminum turned sour, people familiar with the situation said Thursday. Traders at the London Metal Exchange familiar with Barclays Capital’s trading positions said could amount to […]

    / Dec 22, 2011 at 1:48 PM
  • News

    Get In On Sandy Weill’s Blow-Out Sale Today

    For reasons that are not yet entirely clear, Sandy Weill is selling all his worldly possessions. (He claims he and the wife are “downsizing a little bit” but this smacks more of someone having a feng shui attack.) Earlier this month it was Sando’s 15 Central Park West penthouse, which was bought for $88 million […]

    / Dec 22, 2011 at 1:19 PM
  • News

    Getting Facials Will Get You Further On Wall Street

    Today we’re going to talk about something really important: your beauty routines. What you do to look good, what buy to look better. Hard numbers re: what kind of coin you’re dropping on toners and moisturizers. Thinking about claiming you don’t use any of that crap? Let’s not play that game. You’re slathering $95 eye […]

    / Dec 22, 2011 at 12:17 PM
  • Opening Bell

    Opening Bell: 12.22.11

    Facebook’s Goal: to Be a Blue Chip (WSJ) …interviews with Mr. Zuckerberg and others inside Facebook reveal the eight-year-old company is trying to emulate the influence, staying power, and meticulousness of the biggest technology companies. Since last year, Facebook executives have been crafting dummy scripts for quarterly earnings calls, addressing imaginary questions from analysts about […]

    / Dec 22, 2011 at 9:30 AM
  • Write-Offs

    Write-Offs: 12.21.11

    $$$ Goldman Preps for New Age of Regulation [FBN] $$$ Collapse in M&A amid debt turbulence [FT] $$$ Money market funds are risk averse [FT] $$$ “On my economic forecast, I drew a picture of a dragon,” other charts [WaPo] $$$ On the menu, dishes like a mix of seafood in a white wine and […]

    / Dec 21, 2011 at 6:27 PM
  • News

    Bonus Watch ’11: Eleventh Year Jefferies CEOs

    Richard Handler has declared himself not worthy.

    / Dec 21, 2011 at 5:39 PM
  • News

    Occupy Darien Could Use A Hand Here

    The first day of the Occupy Darien demonstration got off to a slow start at a wet Tilley Park in Darien on Wednesday morning with about 10 protesters coming out for the event…Tommy Fox, a veteran of several Occupy Wall Street protests, came from New York to take part in the event. He blamed the […]

    / Dec 21, 2011 at 5:31 PM
  • Banks, News

    What We Talk About When We Talk About Bank Capital

    Boy, those new Fed regulations, they are long. They have lots of things. Like stress tests, and liquidity buffers, and the thing where you can’t have credit exposure of more than 10% of your regulatory capital to one bank.* But the thing that they mostly have are capital requirements, which are kind of not that […]

    / Dec 21, 2011 at 4:27 PM
  • News

    Bank Of America Still “Reaping The Benefits Of What Countrywide Hath Sowed”

    Remember, back in ’08, when Angelo Mozilo cried while telling a bunch of Countrywide shareholders that Bank of America, which had just bought the place, would “reap the benefits of what we have sowed“? Obviously that was was Moz-Speak for “you’re about to find out what it’s like to be forcibly sodomized for all eternity,” […]

    / Dec 21, 2011 at 3:46 PM
  • News

    Soliciting Weed Money In Times Square Actually Somewhat Lucrative

    He calls himself the Weed Man, and he has become a familiar presence in Times Square, standing near Planet Hollywood and holding aloft a placard that stands out even in this part of the city. “Help!” the sign, in green letters, reads. “I Need Money for Weed!” The man, Joshua Long, has become a favorite […]

    / Dec 21, 2011 at 1:50 PM

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