If you’re killing time at the office, working on Turkey Day, or are looking for a fun interactive game for the family to play Thursday night after dinner, test your knowledge of Asnessisms with this quiz brought to you by Hedge Fund Intelligence. Or simply appreciate the above rendering of Clifford in his bedroom, by HFI artist Kieron Black. [Hedge Fund Intelligence, related]
Posts by Bess Levin
New York City restaurant Old Homestead Steakhouse is hosting a $35,000 Thanksgiving dinner, according to the Daily Mail. “We know it’s over-the-top expensive, but Thanksgiving comes once a year. If you can splurge for this, you have a lot to be thankful for,” said Old Homestead Steakhouse co-owner Marc Sherry. It features nine-courses including squab stuffed with foie gras soaked in a $5,000 a bottle L’Esprit Cognac, roasted organic turkey stuffed with Japanese Wagyu and gravy made with a $1,750/bottle claret, butternut squash with black truffles, and sweet potatoes topped with three pounds of caviar. For dessert, diners will be served bourbon-soaked pears with pumpkin paste dusted with 24-karat gold. [CNBC]
The power forward-turned-venture capitalist launched Melo7 Tech Partners earlier this year with partner Stuart Goldfarb and has since disclosed 10 deals ranging from a seed for smart kitchenware startup The Orange Chef to Lyft’s latest $250 million cash bonanza…Jeremy Johnson, founder of ed-tech startup Andela, was initially skeptical when Goldfarb approached him, having heard horror stories from friends who had brought on celebrity investors and come to regret it. “I said to Stuart, ‘I’m happy to chat with you, but if I’m going to take this seriously I’m going to need to meet with Carmelo,’” Johnson says. “[Goldfarb] said, ‘of course, he wouldn’t invest if he didn’t meet you either.’” “They stopped by our office, and to say the least he was really engaged — Carmelo showed up on time and he led the conversation. Even though Stuart obviously has a lot more experience in venture, Carmelo was the one that said, ‘look, we want to be involved,’ and that’s not at all what I was expecting.”…“Carmelo is in this for real,” says Johnson, “he’s very new into it, but he’s taking it seriously.” [TechCrunch]
Phil knew that this was more than just a threat. In all the years they’d been living together, he’d never seen her so mad, not even after she’d discovered he’d been hawking her vintage Hermes scarves for cash last summer. No, she’d really had it with him this time. It’d been more than three years since she’d been able hold her annual Christmas party, the social event of the season that people had done unspeakable things to score an invite to in the past and her patience had long since whittled down to that of a toothpick.
If she wasn’t able to throw it the way she liked– Swarovski-encrusted invitations, go-go dancers dressed as Romans flanking the pool room, ice sculptures done in the family’s likeness, individual raw-bars at dinner, a ‘Maids-a-Milking’ themed after hours– then she wasn’t going to throw it at all. Better to make ‘em wait and come back with a vengeance then serve up a watered down, less hot version of what she was capable of. So they’d agreed on a deadline: Christmas 2014. She’d started working on preliminary plans in August and, yet, as of last month, not one penny had been deposited into her ‘Travel and Entertainment’ fund.
She’d sent emails about it marked ‘high importance,’ pestered his secretary, and finally stormed his office earlier in the week, where she found him doing little more than raking sand back and forth on of those desk trays, rather than hustling to get the money together. She exploded then and she exploded this morning, following him to the front door of the townhouse in her robe and shouting in no uncertain terms that if he didn’t come home with the money that night, he needn’t come home at all. And, honestly? As of lunchtime he was trying to figure out if he had any buddies left who’d let him sleep on the couch, just for a night or two until he’d found something more permanent. And then he remembered something. Page 741 of his employment agreement. Not with Harbinger Capital Partners. Not with HC2. Not with LightSquared. But with the Harbinger Group. Read more »
As those of you who keep up with the Life And Times of Steven A. Cohen know, there are few things on this earth that the hedge fund manager despises more than his first bride, Patricia Cohen. So despite the fact that she has been suing him nearly five years; is, in the words of his lawyer Martin Klotz, “harass[ing] and embarrass[ing] Steven,”; and, at this point, wants what represents approximately 1/900000th of his personal wealth, the SAC Capital founder continues to refuse to settle this thing privately and throw her a dime. While merely casual observers of the Big Guy assumed that Patty’s recent victory, wherein she “won permission as part of a 25-year-old divorce battle to question him about any lies he may have told related to wrongdoing at the hedge fund” would’ve gotten him to budge, SAC Scholars know better.
“It’s a bit of a head-scratcher,” said Anthony Sabino, a business law professor at St. John’s University in New York, who has followed the case. “He’s been pilloried in the press. You’d have to think he is sick and tired of that and would like to get out of the spotlight. It’s baffling why he just doesn’t say, ‘Here’s the money, why not leave us alone?’”
For the record, here are a list of things Steve Cohen would rather do than give his ex-wife satisfaction, monetary or otherwise: Read more »
He’s letting his gal-pals be the messengers. Read more »
In 2011, Dean O’Malley walked away from a high-paying job with no plans for the future, other than to escape the world of finance. His IT job at JPMorgan Chase (JPM) had survived the financial crisis, but he had no desire to stick around for the next one. O’Malley had grown tired of the crazy hours, increasing regulation and negative stigma. “Banking was one of those industries where we were seen as the root of all evil. I felt like I wasn’t really doing any positive work,” the Southern California native told CNNMoney. Just two weeks after leaving his Vice President of Technology post, O’Malley ran into a friend who opened up a very different career path. Her family was launching a business based on jetpacking, an emerging extreme water sport that lets riders fly above the water James Bond-style. Even though he thought jetpacks looked crazy at first, O’Malley eventually agreed to run day-to-day operations and invest in the new business, which launched in Newport Beach, California. Three years later, O’Malley is loving life as president of Jetpack America, a business he’s led to $1 million in annual gross revenue. He’s making just a fraction of what he took home at JPMorgan, but O’Malley said he’s in it for the long haul. “Not a day goes by that I don’t thank myself for walking away from the old job,” said O’Malley, who is 38 years old. [CNNMoney]