The Latest

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 3:17 PM
  • Banks

Bonus Allowance Watch ‘14: Europe

EU Internal Markets Commissioner Michel Barnier doesn’t care what you call them, and he doesn’t care if they’re technically legal. All he cares about is when you add up all the bonuses and allowances and gratuities and tips adult-entertainment vouchers, they stay below the line he has in mid. Read more »

On Stanford MBA Introduces Dating App For People Who Think Being Friends With A “Big-Shot CEO…On Facebook” Actually Means Something

Secondary benefit; people can now filter out the users of this app as insufferable douches.

Whatever else you may say of him—and Argentina has said a lot: for instance, that he’s incompetent and hopelessly biased against it—you must admire Daniel Pollack’s persistence. Ever since being handed the thankless and hopeless job of trying to sort out in a few weeks what 13 years of litigation just made worse, the court-appointed mediator has suffered the slings and arrows, listened to what one imagines are endlessly repetitive speeches by Argentine politicians and issued many press releases pretending that there is the remotest chance of a settlement. And, God bless him, even after Argentina basically said it wasn’t interested in negotiating anymore, he’s still at.

Alas, the results are the same. 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]

Daniel Beunza has spent 13 years living among the increasingly rare New York Stock Exchange floor traders. He has studied their habits, ingratiating himself with them and gaining their trust, venturing out to such exotic and potentially dangerous areas as Long Island, to dine with them in their natural habitat, suburban surfing-themed restaurants. He has learned—to the best of an outsiders’ ability—their strange physical and verbal languages—set down for posterity in a glossary—and the structure of their fragile, tribal communities. And he warns that their extinction will not only extinguish a culture and seriously cut into the margins of goombah dive bars in Lower Manhattan, but will also put us all at risk. Read more »