Bulging Bracket's Profile
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Entry: No, This Time We Are Really Super Serious
posted by Bulging Bracket
Feb 04, 2009 11:30AM
#11 - learn to spell, unless you minored in several sciences, then you have my apologies.
Since when do poli-sci minors do something useful like look at game theory? That's a real subject that actual scholars investigate - math and engineering profs do work in the area, rather than ignorant arts faculty. My thesis had some applied game theory work in it.
And since the readership here actually has a clue, sit down and stop getting so excited when you actually recognize the problems being discussed here.
Entry: Divorce Clawbacks
posted by Bulging Bracket
Mar 12, 2009 3:56PM
Huge screw up by the husband. I have no sympathy for him in fully renegotiating the settlement, despite being a guy. Their divorce is final and he could have liquidated his shares on the date of its finalization.
He should get some leeway on the future cash payments, but as a suspension rather than a cancellation. He obviously CAN'T pay now, so attempting to make him would be ludicrous. Just give him a few years to get his shit together.
This is in contrast to the Canadian problem where a date of valuation was established (around the date of filing, not finalization). Judges would then issue orders that could not be completed since so much time could elapse between the valuation date and the day a contested divorce settled.
Letting anyone do post-hoc rewrites of settlements is a BAD idea. Final divorces should be final, so that no one can come back for money due to changed circumstances, except for cash flow issues that make payments temporarily impossible.
Entry: WSJ Breaking: GM / Chrysler To Be BK'd Into Good Bank / Bad Bank
posted by Bulging Bracket
Mar 30, 2009 6:12PM
@Anal_yst There's a bunch of good people there, who've been hampered by legacy deals and culture. Most of the bright parts in the lineup are politically verboten as gas guzzlers/fun to drive/useful for a family.
Far better to start over with a whole new company than try to resurrect that zombie. Use Jet Blue/Porter/South West/WestJet as models instead of the AA/United perpetual bailout model. A new firm can fix ALL of the problems and only hire the best and most motivated people without the personnel issues of a rescue. They'd also be able to get out of Detroit for better climate, schools, right-to-work, low taxes...
Cars 2.0 should be based in Texas/Arizona/Nevada/New Mexico... Austin would probably be a good bet for an HQ. Tesla is interesting, but California is a hellishly unfriendly climate for business and circling the drain like Michigan 20 years ago.
Entry: "I Want Half, Eddie!"
posted by Bulging Bracket
Apr 22, 2009 1:01PM
@35/66/79
I'm rather surprised about the Mayfair fund using Jersey since you're not supposed to be able to escape from Inland Revenue using the local tax havens. Same reason why you don't see the French in Monaco - their Serene Highnesses tell Paris about bank accounts.
Jersey/Channel Islands are targeted to Euros and Americans while Monaco focuses on the UK and Northern Europe. Nice little division of labor on the part of L'Entente Cordiale.
The good news about this whole tax announcement is that there will be an election next year just as/just after the rate goes into effect and the current government is in unimaginable trouble. They're looking at annihilation and putting their last kicks in rather than governing responsibly.
Entry: Dealbreaker Afterhours: Chrysler Headed To The Suck
posted by Bulging Bracket
Apr 30, 2009 2:45PM
16 is Steve Rattner. Focus on your upcoming felony trial big boy, instead of defending Obama's honor.
Entry: Royal Bank Of Citadel Coming Together Nicely
posted by Bulging Bracket
May 01, 2009 1:05PM
@1 - it's pretty much the GS model, no? Excellent model if you've got really good drivers, and your alumni control the relevant state and federal governments...
Entry: Royal Bank Of Citadel Coming Together Nicely
posted by Bulging Bracket
May 01, 2009 1:40PM
@1 also... dynamite isn't all that dangerous to transport, it's a mix of nitroglycerin and an attenuant (it's relative safety is what made Nobel all that money). Nitro by itself is insanely dangerous and more powerful as an explosive weight for weight (the attenuant in dynamite doesn't do anything productive). Three cheers for the redundant department of redundancies.
Entry: Sell Mortimer, Sell!
posted by Bulging Bracket
May 08, 2009 4:28PM
Er, EP wtf? FTFA:
“It doesn’t sound like a distressed price,” said Peter Slatin, editorial director of Real Capital Analytics Inc., a New York-based firm that tracks commercial property sales.
_______
So pretty much no one agrees with the premise of your post. Anyways...
Entry: Terrible, Horrible, No Good Very Bad News: Wall Street Sequel Edition
posted by Bulging Bracket
Jun 02, 2009 4:51PM
trojan you have a future in Hollywood! pure genius!
Entry: WSJ: U.S. high court grants stay delaying Chrysler sale to Fiat
posted by Bulging Bracket
Jun 08, 2009 4:14PM
Fiat can walk if deal isn't complete by June 15th... so the stay is HUGE.
Entry: Ford Getting A Little Sick And Tired Of Being Peed On By The Government
posted by Bulging Bracket
Jun 08, 2009 5:08PM
You've seen this before in the airlines. It's somewhat amplified with the government backing GM & Chrysler, but any industry infiltrated by big labor gets completely screwed up once enough firms go through Chapter 11.
Unionized industries should be forced to Chap 7 instead of 11. Chap 11 in that situation just creates a beggar thy neighbor dynamic of repetitive bankruptcies - something we are seeing in the airlines.
Entry: Hedge Fund Manager Assesses Situation At Harvard
posted by Bulging Bracket
Jul 07, 2009 1:09PM
Nina's not stacked, but she's loaded. Dad is Peter Munk of Barrick Gold and formerly Trizec Properties.
The Harvard implosion just shows what happens when liberals interfere with finance. Thankfully America wouldn't suffer something like that, the government isn't going to try to dictate salaries and strategies to a critical part of the economy....
Hmm anyone interested in 1 country, slightly used?
Entry: Caption Contest Thursday: Love Is In The Air
posted by Bulging Bracket
Jul 09, 2009 5:09PM
Goddamn do I miss W and his suits all the time rule. I've seen better dressed English profs at North-West Arkansas State.
Though I do like that they have a 39 yo Canadian who started his own boutique I bank at 30 as part of the new Chrysler board http://www.theglobeandmail.com/report-on-business/gosbee-brings-fresh-approach-to-chrysler-board/article1208383/
Entry: The UK's Stimulus Package For The US
posted by Bulging Bracket
Jul 16, 2009 8:09PM
@Analyst - They're going to Switzerland for the friendly tax regime for employees. There are huge benefits for everyone who is not an American to a Swiss address - Americans get screwed by global taxation irrespective of residency. Especially nice for Brits since you can be non-dom in both Switzerland and the UK if you do the travel right and have sufficient meetings/vacations elsewhere.
It's nice for the account holders too, but those worried about tax haven benefits would be invested through the offshore entity of the fund anyways. Again, the investors interests are secondary (but aren't they always).
This is all besides the point, since nothing said by Brown & Co needs to be listened to. The Tories are looking at something between a large and a stupendous majority next spring. Anything not enacted by Dec 31 won't be enacted and pretty much anything enacted recently will be overturned.
As mentioned above, this will also be driving an exodus from Manhattan - 60% tax rates are huge, you lose 1/3 of your net income moving from 39%. Sure lots of the really big earners are CT domiciled anyways, but this will do huge damage.
As a side note - Toronto is really nice. Real estate is cheap, it's just more than an hour to Newark on Porter (a 5 minute cab ride from your office downtown). Personal income taxes are lower, corporate taxes are far lower and no stupidity over offshoring. Final benefit to running your fund from Toronto - IRS can bully Switzerland but you can't bully such a huge source of oil, uranium, NG, and potash, plus there's the control of Chicago's easiest access to the ocean.
Entry: The UK's Stimulus Package For The US
posted by Bulging Bracket
Jul 16, 2009 8:10PM
@Analyst - They're going to Switzerland for the friendly tax regime for employees. There are huge benefits for everyone who is not an American to a Swiss address - Americans get screwed by global taxation irrespective of residency. Especially nice for Brits since you can be non-dom in both Switzerland and the UK if you do the travel right and have sufficient meetings/vacations elsewhere.
It's nice for the account holders too, but those worried about tax haven benefits would be invested through the offshore entity of the fund anyways. Again, the investors interests are secondary (but aren't they always).
This is all besides the point, since nothing said by Brown & Co needs to be listened to. The Tories are looking at something between a large and a stupendous majority next spring. Anything not enacted by Dec 31 won't be enacted and pretty much anything enacted recently will be overturned.
As mentioned above, this will also be driving an exodus from Manhattan - 60% tax rates are huge, you lose 1/3 of your net income moving from 39%. Sure lots of the really big earners are CT domiciled anyways, but this will do huge damage.
As a side note - Toronto is really nice. Real estate is cheap, it's just more than an hour to Newark on Porter (a 5 minute cab ride from your office downtown). Personal income taxes are lower, corporate taxes are far lower and no stupidity over offshoring. Final benefit to running your fund from Toronto - IRS can bully Switzerland but you can't bully such a huge source of oil, uranium, NG, and potash, plus there's the control of Chicago's easiest access to the ocean.
Entry: The UK's Stimulus Package For The US
posted by Bulging Bracket
Jul 16, 2009 8:13PM
damn double post. I reloaded twice to check that I hadn't...
Bess could you maybe fix the comments?
Entry: Department of Housing and Urban Development Is Calling A Real-Estate Bottom
posted by Bulging Bracket
Aug 11, 2009 12:51PM
@29 - because Ferraris are the mark of old money...
Props if its a classic GT California, but otherwise its just a nouveau riche dick on wheels. Might as well buy a lambo.
Entry: Mind The Cap
posted by Bulging Bracket
Aug 17, 2009 6:43PM
Remember that Labour is a zombie government and they will enact nothing. Great sales job for moving to Toronto or Zurich though!
Entry: How Much Would It Cost To Solve Detroit's Problems?
posted by Bulging Bracket
Oct 27, 2009 6:57PM
Nuke it from orbit. It's the only way to be sure.
Entry: Prompting Us To Wonder: "What's The Crack Cocaine Of Anthropology?"
posted by Bulging Bracket
Feb 02, 2009 6:56PM
@28 Your utter divorce from the real world is demonstrated by your comment on offshoring. All white collar professions are outsourcing as much as possible to India. It's actually a great thing since they get a lot of the makework and provide 24 hour coverage.
Even regulated professions are using outsourcing heavily since most of the hours don't actually require a designation or can be supervised by a certified professional. There are also many certified professionals who live in/will move to India and work for less than a North American salary. Radiology work is being outsourced right now, to grab the most highly regulated example.
Go back to Yahoo or Clusterstock and leave this site to the adults.