Bess Levin

Posts by Bess Levin

Who?If George Soros, whose fund threw Gross a couple of nickels earlier this week, had any doubts about his investment with the former Pimco CEO, they have been assuaged. Not only has Gross pledged his undying stewardship of Soros’s capital but he’s promised to watch over the money 24 hours a day, 7 days a week, no matter what. Should Soros have any questions, any questions at all, he should feel free, nay, encouraged to give Bill a call, day or night (obviously it goes without saying that Gross has assigned him a special ringtone and programmed Soros’s number to ring through regardless of any Do Not Disturb settings). Read more »

Just the tip of the iceberg re: what he could score you.

Just the tip of the iceberg re: what he could score you.

Time was, anyone in need of both prescription pain killers and a top of the line inkjet printer needn’t look any further than the 24-hour convenience store that was Jeffrey Brian Grove, of the Melbourne, Florida Charles Schwab office. JBG had everything you could possibly need and if he didn’t, he’d simply log into Schwab’s internal system and order it or tell his dealer to chop chop. Unfortunately, for his clients and the beneficiaries of his lucrative side business, all good things must one day come to an end. Read more »

ubs (3)Like their brethren at Citigroup, UBS’s junior mistmakers are mighty miffed and have a right mind to tell management where it can go. Read more »

ashtonkutcherAshton Kutcher was just doing a little thought experiment. Don’t worry about it. Read more »

uberWhile I was reporting my recent cover story on Uber and its CEO Travis Kalanick, several current and former Uber employees warned me that company higher-ups might access my rider logs. Because I couldn’t independently verify these claims without sacrificing my sources’ anonymity, I didn’t include them in the final piece. However, in light of Buzzfeed’s latest revelations about Uber executives discussing hiring opposition researchers to dig into the personal life of a reporter, Sarah Lacy, who had repeatedly criticized the company, these threats against my own privacy appear to be less of a paranoid possibility than I’d originally thought…My sources could not confirm this or any other incursion by Uber executives into journalists’ rider data. However, they were also not shocked by the accusations. “My general thoughts?” said a former employee in an email, about the ongoing scandal. “It doesn’t surprise me.” [SFM via Dealbook]

golfAcademics Lee Bickerstaff (Miami University), David C. Cicero (Univ. of Alabama) and Andy Puckett (Univ. of Tennessee, Knoxville) analyzed data from a variety of sources to demonstrate that “CEOs that golf frequently (i.e., those in the top quartile of golf play, who play at least 22 rounds per year) are associated with firms that have lower operating performance and firm values. Numerous tests accounting for the possible endogenous nature of these relations support a conclusion that CEO shirking causes lower firm performance. We find that boards are more likely to replace CEOs who shirk, but CEOs with longer tenures or weaker governance environments appear to avoid disciplinary consequences.” [...] James Cayne, the former CEO of Bear Stearns, is a classic example of the golf-shirking CEO. The Wall Street Journal reported that Cayne played golf or bridge on 10 of 21 working days in July 200, which was the month that two Bear Sterns hedge funds collapsed (Kelly, 2007) and the financial crisis began in earnest. [ValueWalk]

Mountains-SwitzerlandIt appears that the Swiss banking arm of UK-based HSBC has quickly adapted to local customs and traditions. Read more »

stevecohen (1)Also about how he had “no idea” who might’ve been responsible for sideswiping Tim in accounting’s driver side mirror, despite the fact that he was seen peeling out of the parking lot at the time of the incident. This upcoming bout truthiness brought to you by Cohen’s ex-bride, Patricia C. Read more »