You get an iPod! And you get an iPod! Continue reading »
Apple
Greenlight Capital Sent Investors Home From Annual Dinner With Apple-Themed Goodie Bags
By Bess LevinGoldman Sachs says not really. Continue reading »
If you’re going to commit financial fraud, you probably don’t want to find yourself sitting at a table across from David Einhorn, who will know what you’re up to and share it with the world. Similarly, if you’ve never played poker and have only ever had a 15 minute tutorial on the game, you probably should avoid playing with the Greenlight Capital founder, whose vastly superior skills will demonstrate just how much you suck. As I like to live on the edge, yesterday in an undisclosed location, I choose not to heed the wisdom of the latter. Over several hands, Einhorn and I discussed the new edition of his 2008 book, “Fooling Some Of The People, All Of The Time.”
The latest version includes an epilogue, and concludes the story of Allied and Einhorn’s years of trying to get other people to listen when he said something was up. As we now know, Allied’s shares collapsed, Greenlight collected $35 million, and the hedge fund made another big (and correct) call on a bank called Lehman Brothers, whose failure was, according to Einhorn, “the Allied story all over again,” just on a bigger scale, with more resounding consequences. Even after the last crisis, which should have been a wake-up call, Einhorn doesn’t think we’ve changed much and if anything, the reforms passed only “encourage poor behavior and will likely foster an even bigger crisis.” He and I chatted about that exciting event, Quantitative Easing, Steve Eisman’s illicit pleasure of choice and more, plus poker tips for people who really, really need them.**
BL: You mentioned an unexpected and tremendous response from readers of the book the first time around. What’s the craziest piece of fan mail you’ve gotten- has anyone sent you their undergarments in the mail?
DE: [laughs] No, do you think they should?
BL: Sure.
DE: You’re hysterical.
BL: I mean, people do that. Musicians, rock stars get sent that sort of stuff. You’re like a rock star…of investing.
DE: Well, the thing is, my following [for the most part] is with 20 to 35 year old men. So, you know. I definitely don’t want their undergarments. Continue reading »
We missed this a few weeks ago but since their colleagues begged for a post-as-wedding-gift, here ya go. Lovebirds Josh and Ting Li exchanged vows on Valentine’s Day at Apple’s flagship Fifth Avenue store. Ting came up with the idea to have the ceremony (and include the phrase “I love you more than [an iPhone]” in her vows) because her man first worked up the courage to strike up a conversation with her when he heard she was looking to by an iPod, and from there their love of “everything Apple bloomed.” So, kind of cute, if you’re into shit that inspires tears and hurt feelings in Vikram Pandit. ‘Cause you know what these two failed to mention? That their loved blossomed at Citi, where they worked together for two years (and where Josh still works as a VP in the Equity Capital Markets Group). Fuckers should’ve wed in the space allocated for the Zen Garden. Alwaleed or Parsons would’ve gotten ordained. But, whatever! Best wishes and all that.
Continue reading »
Ok, we’re taking a break from the whole AIG and Davos insanity. Let’s move on to more joyous news- the iPad! It will change the world and rescue the economy! It will bailout banks! It will explain to Timmy G. what AIG is! While many people speculated on its name being the iTablet, the iSlate, Apple settled on a tampon-sounding moniker for whatever reason. The iPad has a 9.7-inch screen, is half an inch thick and weighs 1.5 pounds, maybe to appeal to female demographics? Reactions across the Web went from “this is the Second coming” to why on earth would I pay $500 for a bigger iPhone?
Thoughts? Also:
Apple Inc. Chief Executive Officer Steve Jobs is considering a liver transplant as a result of complications after treatment for pancreatic cancer in 2004, according to people who are monitoring his illness.
Patients with Jobs’s condition can survive for 20 years or more from the time of their original cancer diagnosis, and the surgery often gives good results, said Steven Brower, professor and chairman of surgery at Mercer University School of Medicine in Savannah, Georgia. Brower hasn’t treated Jobs and doesn’t know details of his condition.
PRESS RELEASE: Apple Media Advisory
Dow Jones News Service via Dow Jones
Apple CEO Steve Jobs today sent the following email to all Apple employees:
Team,
I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.
In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June.
I have asked Tim Cook to be responsible for Apple’s day to day operations, and I know he and the rest of the executive management team will do a great job. As CEO, I plan to remain involved in major strategic decisions while I am out. Our board of directors fully supports this plan.
I look forward to seeing all of you this summer.
Steve
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