Bess Levin

Posts by Bess Levin

Come people: wake up! Read more »

If the previous odds of a considerable stay in jail didn’t deter you before… Read more »

“It’s not polite to talk about yourself, but I haven’t seen anything like it,” says Mr. Wash Chief Executive Richard Enning. A few of his 32 other outlets are almost as big. Germans love cars. They also tend to like things tidy. Now they’re building temples to clean cars. The Stuttgart Mr. Wash is probably the world’s busiest and most expensive carwash. It cost roughly $40 million to build five years ago and employs about 40 people on a busy day for cleaning. Drivers can also tank up or get an oil change. Mr. Enning wants Mr. Wash to be the spot for a spotless car in Stuttgart, the hometown of Mercedes-Benz and Porsche. From afar, the orange structure with curved silver protrusions resembles a glitzy shopping mall or some sort of spaceship…Inside, classy touches include a man in white gloves who directs drivers to conveyor belts for robotic sudsing. After that, patrons can sip complimentary coffee amid potted plants and the strains of classical music while teams polish and vacuum. Staff are even instructed on how to fold and refold wiping cloths so dirt doesn’t move from one surface to another…Few things make serious German drivers smile like inching through a foam bath and undulating scrubbers, said [branch manager Robert] Kerbler [WSJ]

As you’ve probably heard, yesterday afternoon Mathew Martoma née Thomas was sentenced to 9 years in prison for orchestrating “the most lucrative insider trading scheme ever” during his time at SAC Capital. Understandably upset and perhaps having also read the civil complaint in which their son’s boss was identified as “Portfolio Manager A,” mom and dad had this to say:

Speaking on the sidewalk outside the old federal courthouse in Lower Manhattan, Mr. Martoma’s parents said he had been wrongly convicted. The couple asked why Mr. Martoma’s former boss, Steven A. Cohen, the billionaire investor who founded SAC, was not also charged with insider trading if their son had done something wrong.

And also:

“…the man who made all the money is on a yacht, my son is going to jail.”

While there is obviously a touch of bias involved here, these statements seem relatively reasonable, whereas the arguments offered for why Martoma/Thomas was found guilty… Read more »

Mathew Martoma, he of the “most lucrative insider-trading scheme in history” Martomas, is going to jail for a while, though for less time than the government wanted. Read more »

…per the instructions enclosed in a letter sent out by CEO Richard Handler and Chairman Brian Friedman. The short version: Treat junior level employees like they are humans and not life-sized pieces of garbage. The longer version: Read more »

  • 08 Sep 2014 at 2:26 PM

Point72 Asset Management Down One Speed Racer

Paul Orwicz has left the building and maybe burned rubber peeling out of the parking lot. Read more »

“You’re smart, good-looking & successful. You don’t need a dating app to get a date—you’re too popular as it is. But you should join The League,” reads the app’s website. The site invites users to download the app and join the waiting list for its “private alpha.” Once live, it promises to exclude all of the chaff you’d find in those other dating apps, allowing only the very best people to meet each other…So how do you know if you belong in League? The Facebook post offers some clues: “Was it your philanthropic contributions or your impressive college sports career? Your killer smile or your east coast private education? That big-shot CEO that you’re friends with on Facebook or the fact that you’re one of the few singer-songwriters in San Francisco and the odds were just in your favor?” The post continues: “While you don’t know exactly what got you in, you do know that the best things in life are the most selective.” An upside to League, according to League, is that it “screens for quality” and promises “No Randoms” and “No Fakes.” “You’ll never have to wonder if that Harvard hottie is too good to be true on The League,” the website pledges. [BusinessWeek]