Second-year M.B.A. students at a number of schools are holding out for the perfect job, even if that means rejecting safe-bet offers and graduating into unemployment. The attitude reflects a major shift from just a couple of years ago, when business students aimed to lock in their postgraduation plans by winter break and those still looking in April were assumed to be deficient in some way…Bloom Energy, which taps M.B.A. students for 5% to 8% of its new hires, doesn’t recruit on a set schedule and rarely does so for positions more than six months ahead of time. That means those who want to start work after graduation generally only stand a chance at getting a job in the spring. And they’re willing to wait, said Helen Textor, director of global recruiting and staffing at the Sunnyvale, Calif., clean energy firm. “I’m surprised often at how comfortable they are” turning down other offers, knowing a job at Bloom is far from a sure bet, she said. [WSJ]
Hiring Manager Surprised About The Number Of Jobless MBA Students’ Resumes With ‘Mammoth Balls’ Listed Under SkillsBy Bess Levin
Or so he told one Bloomberg reporter. Read more »
In January 2013, Cigar Aficionado offered this assessment of Fox Business reporter Charlie Gasparino’s workspace: “His office…runs counter to his consummately neat appearance—it is disheveled, with papers and books scattered randomly about, as though there are much more important things in his life than the need to keep his desk in order. He has offered a visitor a seat, but the chair must first be cleared of its contents, including a suit, similar to the one he is wearing but perhaps patiently awaiting a voyage to the dry cleaners.”
And while some people say a cluttered desk means a cluttered mind, it’s obvious that CG simply has little use for spending time tidying; and that despite his office being a total dump, could tell you where everything is in 3 seconds flat.
Still, apparently the state of things became a bit too much for his co-workers, who donned hazmat suits earlier today and dove head first into this:
And by the grace of god, turned it into this: Read more »
Bob Gross The Cat, who rose to prominence as an honorary CIO of the world’s biggest bond firm and had the uncommon intellectual capability to understand when her owner was on television, died last week. She was 14 years old. Bob is survived by her loving masters, Bill and Sue. Read more »
The Swiss have never let unprovoked aggression deter them from doing business with the aggressors, and this long, proud tradition of profiting at others’ expense continues. Plus, they’ve already given up enough lucrative endeavors at the behest of Washington. Read more »
Ex-Evercore Director Who Insider Traded In Accounts Set Up Under Baby Mama’s, Dad’s Names Make Get Opportunity To Think About What He’s DoneBy Bess Levin
Remember Frank Perkins Hixon Jr.? Made something of a name for himself when he became the first Evercore employee in history to be accused of insider trading, which he apparently did in part to raise funds to support the child he had with Destiny Wind Robinson? He may be going away for a while. Also, he’s sorry. Read more »
Moody’s Is No-Show in Bond Deal Rating (WSJ)
When the sale of more than $1 billion in commercial-mortgage bonds went off without a hitch last week, one name was conspicuously missing from the prospectus: Moody’s Investors Service. The ratings firm, known for adopting more-cautious stances than its rivals, has been a mainstay on such deals during the aftershocks of the financial crisis. But with investors scrambling to buy higher-yielding bond deals, the underwriters on this one took a gamble that they could still sell the securities without the rater’s seal of approval. When the market was tougher, bankers “were not willing to [sell a bond] without putting a Moody’s rating on it,” said Lea Overby, head of commercial-mortgage-backed securities research at Nomura Securities International. “It’s worth a shot to try it now” given the market’s strength, she said.
Judge tosses man’s claim of ownership of Facebook (AP)
A federal judge has officially closed the book on a New York man’s multibillion-dollar lawsuit claiming half-ownership of Facebook. Judge Richard Arcara has granted Facebook and founder Mark Zuckerberg’s motion to dismiss Paul Ceglia’s lawsuit. Last week’s ruling affirms a magistrate judge’s recommendation from a year ago saying the lawsuit should be thrown out because the contract Ceglia based it on was faked. Ceglia is from Wellsville. He claimed he and Zuckerberg signed a 2003 software development contract that included a provision entitling him to half-ownership of Facebook in exchange for startup money for the budding company. Facebook lawyers say the two had a contract but references to Facebook were slipped in for the lawsuit.
Morgan Stanley CFO says companies need more female executives (Reuters)
Morgan Stanley Chief Financial Officer Ruth Porat on Wednesday called on government and corporate leaders to encourage the promotion of women into senior business roles, saying the number of women in top positions at U.S. corporations is “an embarrassment.”
Yelp Reviews Brew a Fight Over Free Speech vs. Fairness (WSJ)
In early 2012, Joe Hadeed, owner of Hadeed Carpet Cleaning Inc., arrived at his office atop a 70,000-square-foot warehouse in Springfield, Va., to discover a critique posted on Yelp.com: “Lots of hype, a mediocre cleaning and a hassle at the end. Don’t go with Joe!” wrote a “Mike M.” A few days later, another review, by “M.P.” popped up: “I will never use them again and advise others to proceed with caution!” it said. Over the next several weeks, a string of similarly harsh reviews replaced more-favorable comments “as if someone had flipped a switch,” said the 47-year-old Mr. Hadeed, in an interview last month at his offices, where trucks drop off carpets to be washed, rinsed and dried…Following the rash of negative Yelp reviews, business sank 30% in 2012, Mr. Hadeed says. Last year, Hadeed cleaned just 20,000 carpets, down from 29,000 in 2011. Revenue fell to $9.5 million from $12 million in 2011. Mr. Hadeed said the business has let 80 workers go and sold six trucks, reducing its fleet to 54…In July 2012, Hadeed sued the seven reviewers for defamation, and demanded that Yelp turn over their true identities. So far, both the Alexandria Circuit Court and the Virginia Court of Appeals have sided with Mr. Hadeed, holding Yelp in contempt for not turning over the names. Yelp in January appealed to the state Supreme Court, arguing that the reviews are protected under the First Amendment and that Mr. Hadeed offered scant evidence that they were fakes. This month the Supreme Court could issue an order granting or denying Yelp’s appeal, or schedule a hearing in Richmond, which could take place in the next 90-120 days.
Rachel Canning, teen who sued parents, picks college (USAT)
Rachel Canning, the New Jersey high school senior who made national headlines after suing her parents last month, has chosen a college. The 18-year-old Canning announced on her Facebook page in a public post Saturday that she plans to attend Western New England University as a biomedical engineering major on a $56,000 scholarship. “Decision made. WNE U class of 2018 BME Major w/ 56,000$ scholarship,” read the Facebook post. The post had more than 145 likes before it was removed or restricted to the public at about 1:30 p.m. Tuesday…Canning sued her parents, Sean and Elizabeth Canning of Lincoln Park, for child support and college costs, filing a lawsuit on Feb. 24 in Superior Court in Morristown, N.J. After the judge denied Canning’s claim for immediate assistance on March 4, she moved back in with her parents March 11, and dropped her lawsuit the following day. Read more »
$$$ Lewis Likens Einhorn to ‘Dumb Tourist’ in Fixed Card Game [Bloomberg]
$$$ Lewis Calls Flash Boys Blowback ‘Thoughtless’ [BusinessWeek]
$$$ Handler, Leucadia’s Chief, Takes Pay Cut in New Role [Dealbook]