An Australian billionaire plans to rebuild the Titanic as a seafaring vessel, upon which he will seek to relive the thrill of the days when people knew their place. Read more »
boats
Kruggles taking a break from “socialist hellhole blogging” to raise some sails. [NYT]
As you know, Harbinger Capital currently has a big bet going on a wireless company called LightSquared. Should it succeed, Phil Falcone will make billions and his investors will receive the triple digit returns they scored on subprime. Should it fail…we don’t even want to go there but the victims will not be faceless and include but are certainly not limited to Lisa Falcone’s outfits (people in and of themselves) and the family’s cabaret performing pig. So far, unfortunately, LightSquared, illiquid shares of which were recently awarded to redemption-seeking investors, has encountered a few bumps in the road (as one often does when one is doing groundbreaking, visionary-esque work). Last month, it was reported that government tests indicated the company would not only cause “devastating interference” to all GPS devices in range but, according to the National Space-Based Positioning, Navigation and Timing Systems Engineering Forum, would “degrade global-positioning system navigation devices that are nearby and as far away as outer space.” LightSquared responded by promising “a workable solution for the small number” of GPS devices “that may be at risk,” but now it seems the venture has bigger problems than Mars on its hands– the boating community, which is pissed. Read more »
Things have been going prettay prettay prettay well for Richard Perry these last six months. His fund, Perry Capital, is up nine percent year to date, his beastly neighbors have quit bitching about the fact that he was burning their eyes out, and this past weekend, his daughter got married to a HBS grad who could potentially take over the family business one day (the SIL is an analyst at the Baupost Group). And speaking of the nuptials! Richie can be credited with not only making sure the celebration had the puffiest shrimp money could buy and a cake that was to die for but delightful ambiance and riveting entertainment for his guests as well. Read more »
It’s really disheartening to hear about consumers cutting back on spending when they should be, if anything, ramping up ridiculous, unnecessary, horrifically indulgent purchases, as if to say S a D, Nouriel Roubini. And yet they’re not, particularly in America because a. people here believe in this mythical “recession” and b. people here are pussies. Pussies that could learn a thing or two from the superwealthy in Eastern Europe, Russia, the Middle East, who currently snapping up not just yachts but thirty million dollar “megayachts” while John Devaney quietly weeps on his twenty-five foot power boat. I encourage every DealBreaker reader to get out there and pick up one of these things, whether or not you think 6,500 square feet of interior living space, 3,500 square of feet exterior space, and 15 bathrooms is a bit much. It’s not about you, it’s about the economy. If Jimmy “I’m Doing It For The Greater Good” Cayne can man up and start buying White Widow by the barrel, you can do this.
Related: When Hedge Fund Losses Hit Home
As Economy Slips, Yacht Sales Skyrocket [ABC]
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You know what they say: You can’t choose your family, but you can choose your financial planner. Or something like that. One of the great things of being in charge of your money is choosing who (if anyone) will help you manage it. The choice isn’t always an easy one. How will you know that your planner is reputable and trustworthy?
These five red flags may be good indications of whether the financial planner sitting across from you is someone you should trust with your money. LearnVest Planning also provides an innovative 7-step program for your money where you work one-on-one with a financial planner. To see if this program is right for you, start with a free financial consultation.
1. She Isn’t Certified
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Sponsored Content
SoFi Answers the Call to Refinance Student Loans and Provides Unique Community Benefits
This is a guest post written by SoFi’s CEO, Mike Cagney.
CLICK HERE TO READ THE FULL ARTICLE
Recently, there’s been a lot of talk amongst leaders in Washington about how to improve the painful process of repaying student loans. At SoFi, we feel your pain and work hard to offer more flexible, more affordable options for our borrowers. One idea that’s getting a lot of attention is increasing the options for refinancing debt after graduation. The only lender currently focused on refinancing private and federal student loans is SoFi.
We recognized early on that borrowers who have made timely payments on their loans, graduated from school, and have a job should be able to refinance their student loans at a lower interest rate. This may be why, after resuming lending by invitation, the media became increasingly interested in what we are doing.
In a recent article posted on MainStreet.com SoFi General Counsel Rob Lavet had this to say about SoFi’s ReFi products: Read more »
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