Michael Penn has vowed to stay put until someone makes him an offer. Read more »
Dollars To Donuts You Don’t Have The Gastrointestinal Fortitude To Beat Vikram Pandit At His Own GameBy Bess Levin
“Citi North America Markets is raising money for the Police & Fire Widows’ & Childrens’ Benefit Fund- with an official food eating challenge. From an email sent today to all markets employees (Fixed Income, Equities, Commodities, Currencies)…” Read more »
As many of you know, though there are tremendous benefits to be gained from taking a public company, there are also serious downsides to consider, like unwanted scrutiny of your business practices. While executives at Dunkin’ Brands were probably pretty pleased with last week’s opening day pop, the IPO has presented some problems for the branch office employees who’ve been using the pastry purveyor as a front for the real goods they’re selling: ass-play and hand jobs via the mouth. Read more »
Vikram Pandit tests out the goods at Citi’s new branch, which the bank opened yesterday and celebrated with a red carpet and a waiter carrying ‘a platter of bite-size donuts and a sugary dipping sauce.’ [Dealbook via HNM]
The second installment of Kate Kelly’s 3-part series on the destruction of Bear Stearns answered many questions. Among them: which clients pulled out in the days prior to the intervention (notably, a little shop called RenTec), where did Jamie Dimon celebrate his 52nd birthday (Avra, a Greek restaurant on East 48th street) and does Alan “Ace” Greenberg perform magic tricks (yes).
But it also raised so many more! The most important one, noted by a commenter earlier this morning, being: “What of that Dunkin’ Donuts order? Did the bankers on the sixth floor who were heard considering ordering breakfast from the purveyor of the deep-fried pieces of dough ever pull the trigger? DID THEY?” The article does not say. But a little investigative journalism on the part of DB today found that the answer is yes. According to a source familiar with the matter, “They did [place the order]–coffee and donuts, which they were actually eating and drinking when the high-five worthy email [containing the draft of a news release announcing that the bank had agreed to provide Bear Stearns with financing “as necessary” for up to 28 days] appeared.”