Bank consulting is a cushy, lucrative business, what with all of the handsome fees and the total lack of supervision to ensure that you are doing your job well. Or at all.
Unfortunately for those of you who work in New York, Benjamin Lawsky has discovered a 121-year-old law that basically lets him put you out of business if he doesn’t like the work that you are doing (or not doing). And in the tradition of the immortal Eliot Spitzer, he’s going to use it to show you (and the federal government) up. Read more »
Scout Capital Management joins Highfields Capital Management to badger the coffee and confectionary pride of Canada. Read more »
Skyrocketing prices be damned: Retired hedge fund manager/full-time buyer of and pontificater on art Howard Rachofsky says there’s never been a better time to buy a few canvases, provided you’ve already got places on land, at sea and in the air, have a desire to show up your friends and aren’t interested in the stuff that other people are interested in. Read more »
Normally, late payments and delayed closing dates are bad news for a seller. But the systemically-important AIG’s on a winning streak lately and isn’t going to led the tardiness of a Chinese consortium get it down. Read more »
Fishing is basically one of two reasons that Norway is not a member of the EU. This may have indicated to Bain Capital that getting into the Norwegian fish-feed business could be a good idea. Read more »
A few months ago, Tony James suggested that we all stop using the term “private equity” because it “doesn’t have as attractive a marketing name as activists,” which, it must be said, is not setting the bar especially high.
Perhaps, with the extra free time he’s got, he can work on an even bigger branding problem: zombie funds. Read more »
The woman with three parking spots around the corner simply wanted the tandem spots more than the guy with the two next to them. Read more »
Rather than in handcuffs: Austrian National Bank Deputy Governor Wolfgang Duchatczek’s last month on the job is proving something less than a valedictory lap. Read more »
If you hadn’t heard, between $3 billion and $6 billion will disappear from SAC Capital Advisors this year. This money must go somewhere. Some non-scandal plagued hedge funds think it would be neat if it were to end up with them. Read more »