So, I’m not one to crow about my achievements but today I must make an exception. As you know, it was exactly a week ago that I headed out to Stamford, CT to perform my due diligence on Beamers Cafe ahead of our yet to be scheduled field trip. It was there that my colleagues in the field and I met one of the establishment’s employees, who very graciously gave us the low-down on how business has been faring in these tough times. Though the Cafe continues to be patronized by bank and hedge fund employees and tips have remained stable, she told us, as you might expect, that three years ago business was booming and they were turning people away at the door. So what happened yesterday made me giddy beyond belief. At around 5 I was going about my business, doing whatever it is I do all day when my phone rang. Not recognizing the number, I picked up with caution. The conversation started out like this: Continue reading »
Beamers
As you may recall, a couple months back, a managing director at UBS was pulled over in Connecticut and charged with a DUI (he also had an unlicensed firearm on him, for good measure). At the time, the man for some reason felt compelled to tell the cops that a) he worked in the financial services industry and b) he was coming from Beamers Cafe, Stamford’s premier strip club. As I read the story, a coupla things became clear to me: 1) that guy likes to party and 2) that the cultural relevance of this institution to Wall Street North could no longer be ignored. You may also recall that I proceeded to announce a DealBreaker Field Trip to said establishment, and invited some people from CNBC to come with. The field trip is still on. However, I decided I couldn’t just take you a strip club without scouting the location first and having an idea as to what we could expect, you know? Rather, performing some on-site due diligence ahead of time was necessary. Last night, I did just that. Continue reading »
Time was, if you were an exotic dancer, your customers probably wouldn’t have thanked you for that lap dance you so deftly performed. Ingrates, the lot of them, but what could you do? But now? That things aren’t so happy snappy? Strippers are finally getting appreciated for the hard work they do, at least according to one gal named “Bubbles.” Continue reading »
Philadelphia SEC Chief Wants To Know Where You Went To Business School, And Who You Might’ve Slept With There
By Bess LevinAmong other things. Because it’s very likely that whoever you were sharing tips with back then, you’re still giving tips to today, in the form of material non-public information, according to Daniel Hawke, who is heading up a new team out of Philly “charged with cracking down on a variety of market abuses.” Team Hawke will be conducting “trader-based investigations rather than going security by security,” and if your boy from Wharton or the Jack Welch MBA institute gave you a hot tip he wasn’t supposed to, Hawke’s gonna find out, just like he’ll know about the profit you made from the info Bambi from Beamers stuck in your ear last night.
Much of the initial detective work that Hawke’s group is doing relies heavily on computers. The team cross-checks trading data on dozens of stocks with personal information about individual traders, such as where they went to business school or where they used to work.
As previously mentioned, Norwalk resident and UBS VP Peter Mullen was awarded a DUI early Sunday morning, when he failed to prove he wasn’t drunk at a sobriety checkpoint. He was also charged with carrying a firearm (a .45-caliber Wilson Combat Pistol) while under the influence. But this isn’t about Packing Pedro. This is about the place Mullen told the police he was coming from: Beamers, Stamford’s premier strip club.
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