Bess Levin

Posts by Bess Levin

By day, Jeff Klaips manages a construction clean-up company in a Chicago suburb, but he’s also looking to make a pretty penny from the sale of BillAckman.com and WilliamAckman.com. He’s been trying to pique the interest of the Pershing Square Capital Management founder-or someone who’d like to use his name. Klaips already made a profit from EddieLampert.com, the name of the ESL founder. Inspired by seeing Lampert on CNBC, Klaips says he purchased the domain name on an impulse in 2004…On New Year’s Eve this past year, he received an email from an IT person who works for ESL and was looking to purchase the EddieLampert.com site. Klaips had initially asked $9,000 for the domain, but the hedge fund representative talked him down to $4,200…Ackman has not been willing to deal. [Absolute Return]

  • 11 Jul 2014 at 3:44 PM
  • myths

You Want Fun? GOLDMAN SACHS WILL SHOW YOU FUN

Whoever said Goldman Sachs summer internships were all work and no play apparently never experienced the all-access pass to the FunZone that is GS’s Salt Lake City program. We’re talkin’ scavenger hunts and watching the World Cup in a conference room-level fun. We’re talking 6AM runs with colleagues-fun. Read more »

  • 10 Jul 2014 at 5:44 PM

Greg Smith-Lite Wants To Lend You Some Money

Steven Mandis knows what we’re talking about. Read more »


[via @cgasparino]

Hundreds of undergraduates are starting internships at banks this summer, typically eight to 10 weeks with a salary equivalent to £45,000 a year. Soon follow the graduates, starting their careers as banking analysts, earning about £45,000 plus bonus. The median salary reported by university-leavers last year was £20,500… At the banks, there is a concern they might not meet the younger generation’s expectations. Bruce Tulgan, author of Not Everyone Gets a Trophy, characterises this cohort as worldly, precocious and needy. Used to instant feedback and hands-on parenting, they are less likely to toil away quietly, paying their dues. Not yet teenagers on 9/11, they entered university in a recession that made many suspicious of institutions. One graduate had this to say to Mr Tulgan about financiers: “I know they think they are masters of the universe, but the Soviet Union disappeared overnight. So could they.” [FT]

Steven A. Cohen proved to be a stickler for the letter of the law when it came to paying the criminal penalty imposed on his former hedge fund as part of its guilty plea on insider trading charges. On April 10, Judge Laura Taylor Swain of Federal District Court in Manhattan gave Mr. Cohen’s SAC Capital Advisors up to 90 days to pay the $848 million penalty, part of an overall $1.2 billion criminal settlement reached with prosecutors last November. On Tuesday, the 90th day since Judge Swain accepted the firm’s guilty plea, Mr. Cohen’s firm made that payment, according to court records. [Dealbook]

When we last checked in with Holly Peterson, she had just released her debut novel, “The Manny,” a book about a rich Upper East Side woman who has an affair with her male nanny. Her father, Pete Peterson, was still working at Blackstone, the firm he founded with Steve Schwarzman. Her then-husband, Rick Kimball, Jr., was still working at Goldman Sachs. Fast forward seven years and much has changed. The elder Peterson has retired. Holly and Rick are no longer together. Rick is no longer with Goldman Sachs, possibly on account of the “naked-themed” Halloween party and “series of” topless backyard barbecues, though perhaps simply because of his newfound passion for hangover prevention ventures.

Yes, much has changed. But, comfortingly so, much has stayed the same. For example, the subject matter of Holly’s latest book, which was a topic of discussion in the Hamptons this week and whose plot can apparently be summed up as “a lotta sex.” Plus! “A stock-fixing scheme.” Bloomberg reports: Read more »

Donald Sterling told a judge his fight to block the $2 billion sale of the Los Angeles Clippers to former Microsoft Corp. Chief Executive Officer Steve Ballmer is about economics, not ego. “You think I’m doing this for ego?” Sterling asked a lawyer for his wife, Shelly Sterling, during one of many testy exchanges on the second day of a trial to determine whether she had sole authority to sell the National Basketball Association team after having her husband declared incapacitated. Sterling, 80, said he was negotiating a new cable-television contract with 21st Century Fox Inc. and that television providers’ demand for content would continue to drive up the value of sports franchises. The Clippers’ success on the court this year also has created interest from several radio stations to carry the games, he testified. “My wife can’t run anything,” Sterling told a state probate judge in Los Angeles who is deciding the case without a jury. “Of course I believe the team is worth more.” [Bloomberg]