Back in October, we detailed a list of things that, if you are the hedge fund manager who goes by the name Steven A. Cohen, you really don’t want to hear first thing in the morning. They included: “The fleeces are on back order”; “Your ex-wife is in the lobby”; “There’s a photographer here who said he’s been authorized to shoot you wearing a king’s robe and crown for a set of playing cards”; and “You’ve been outmaneuvered for the Toledo Mud Hens. But I hear the Binghamton Mets may be available.” Today we must update that list to include another thing, perhaps THE thing, that people delivering news to Cohen don’t want to relay. Paraphrasing but any variants on: “Mr. Cohen, we’ve received a Wells notice and by the way, they’re considering naming you personally.” Read more »
Leon Cooperman’s Beef With President Obama Involves An Unsolicited Copy Of His 14 Year-Old Granddaughter’s Self-Published Memoirs And Not One Handwritten Thank-You Note In ReturnBy Bess Levin
Last November, hedge fund manager Leon Cooperman penned an “Open Letter To The President Of The United States of America,” in which he detailed the many ways Barack Obama was pissing him off. The Omega Advisors founder accused the President (and his “minions”) of engaging in class warfare, expressed disbelief that he could attack “capitalists who…fill store shelves at Christmas” and still sleep at night, and advised Obama to “eschew the polarizing vernacular of political militancy,” lest he lose Cooperman’s vote the next year. While LC says that he received a major outpouring of support for his words (“[he] keeps a bulging manila folder of congratulatory notes in his office”), others were less than pleased at what they saw as a guy who has actually done pretty okay under Obama lashing out because his feelings were hurt on the occasions the president was perceived to have a “tone” in his voice when discussing the mega-wealthy (“If I knew where you lived, I’d put a bomb in your car,” one person wrote Cooperman to say).
Similarly, Cooperman’s suggestion, made publicly several times, that America should be worried about the startling parallels between Obama’s rise to power and that of Adolf Hitler,* was met with mixed reviews, including one by his wife in which she called him a “schmuck.”
And while some** have found it preposterous that Cooperman would paint himself as a victim of Obama, their astonishment speaks to not knowing the whole story, i.e. exactly what this man- no, this monster- did to Leon, and why he is not fit to be President of the United States of America. Read more »
As you may have heard, the last several years have not been so hot for RBS. In the last 12 months alone, the bank beat expectation by posting “a bigger-than-estimated first quarter loss” (with a loss of 1.4 billion pounds for the first half), employees have gotten canned, management has already informed staff that 2011 bonuses will be less than 2010′s, you can’t say “ABN Amro” without getting tased, they’re still mopping up the mess from ToiletGate, they just got downgraded by Fitch, and the Queen is riding all their asses. What was left to look forward to? Not much at all but at least there was the annual Christmas party which, since 2008 has amounted to one bag of (fun size) chips per head. It wasn’t a lot but it was something and now? It’s gone.
RBS is canceling Christmas for its investment bankers this year as the government-owned lender tries to reduce costs.
Okay, so, no Christmas party seems a bit harsh but employees can still get into the holiday spirit with non-Christ-based soirées, right? WRONG! There will be no Halloween parties, no pre-Thanksgiving raves, no New Year’s bashes, no Beamer’s Appreciation Day on RBS’s watch. Read more »
The only thing it seems we can expect re: bonuses this year is that they’ll be all over the place. Hedge funds are looking at slight increase, many banks are looking at a flat to 30 percent decrease and some people’s bonuses will be so bad they’ve inspired code names like The Zeros. It’s nerve-wracking, to say the least. One thing that’s comforting, however, is to know that there remains group of people confident that compensation 2010 will be generous enough to not disrupt their quality of life, including the Christmas season. Read more »
Each year at Christmas, Paul Tudor Jones orchestrates a holiday spectacular on his front lawn, spreading cheer far and wide. People travel from all over to see the display (set to music) and the tradition, which last two full weeks, is much cherished among the residents of Greenwich. As discussed last week, Jones-A-Palooza 2010 is expected to “rival those of past years,” with the possibility for Rockettes, chicken and PTJ dressed as the big man. Anyone who goes will surely have their mind blown and all are welcome, free of charge because Tudor is a very generous man. And yet, according to one Greenwich elected official, he’s not giving enough when it comes to celebrating the birth of Christ. Read more »
As many of you may be aware, some of us intimately, each year Paul Tudor Jones holds a Christmas spectacular on his front lawn in Greenwich, Connecticut. Open to the public, it’s become a favorite event for children and adults of all ages, far and wide. After being forced to cancel his Halloween extravaganza this year, as a result of neighbors who lack any heart, some worried that PTJ’s Christmas show would suffer the same fate. Well worry no longer. This thing is on, and that’s not all. Read more »
David Rosenberg: Your Loved Ones Might Buy You Gifts This Year But They Can’t Be Bothered To Put Any Effort Into The PresentationBy Bess Levin
This year, you might be getting an i-Pad but it’ll be handed to you in a plastic bag or not wrapped at all. Rosenberg doesn’t want people jump to conclusions or freak out but this news could indicate several things and the neurotics among us should feel free to read into it meaning:
a) You significant other (mother, father, brother, sister, work BFF) doesn’t know where to buy tape.
b) Your significant other wanted to wrap your gift but freaked out when he/she couldn’t find the perfect paper, had a meltdown in the middle of the store and screamed “fuck it! I can’t even do this!” and decided to go bare.
c) Your significant other (mom, dad, brother or work BFF) is a cheap bastard.
d) Your significant other knows how much you like prettily wrapped gifts (bows especially) and is doing this to send a message that he/she can no longer stand the sight of you, and it’s over. Read more »
The Wall Street Journal‘s Alan Murray went up to CT last night to check out the Paul Tudor Jones Christmas Extravaganza Light ShowTM. He encountered a bit of opposition from the cops patrolling the scene. Having made the same trip last year, I can empathize, and also throw out the question, when you’re putting on the most insanely garish (but awesome!) Christmas show in Greenwich, second only to the manager who has his beset analysts put on their own version of the Rockettes on the front lawn, can you really expect people to NOT TAKE PICTURES?