Dish Network Chairman Charlie Ergen was so sure that the debt of a bankrupt wireless Internet venture was the investment of the century that he staked his daughter’s future on it, without telling her or his wife. It definitely had nothing to do with that bankrupt venture’s owning some electromagnetic spectrum that Dish coveted, and if Ergen had Dish’s treasurer make the trades on his behalf, well, that’s just an unfortunate coincidence.
father of the year
After he was unceremoniously fired from his post at the newly formed Bank of America Merrill Lynch, for reasons that included paying out big bonuses to ML executives and decorating his office with $1,500 garbage cans, John Thain understood that he would have to recede from the limelight for a bit. Take a job at a smaller firm and keep his head down for a while. Spend more time with his honeybees. Get back to his fighting weight. Drink a raw egg for breakfast every day. Run up and down the stairs of the Met. Work in a hideously decorated space, no matter how much it hurt. Win some awards. Get his confidence back. Let people miss him. Well, Thain did all that. And now? He’s ready for you to make him an offer. Read more »
The master of ceremonies made a mistake as he named John Thain one of the year’s finest dads, introducing him as the chief executive officer of Citigroup. “Vikram Pandit will be very unhappy,” Thain said, accepting an award from Father’s Day/Mother’s Day Council Inc. on June 14. “I’m actually the CEO of CIT, which is similar, but not quite the same.”…host Mark Shriver apologized for bungling his introduction of Thain, 57, a former Goldman Sachs president who has been CEO of CIT Group Inc. since February 2010. “I thought it was a misspelling,” said Shriver, senior vice president of nonprofit Save the Children. “It said CIT — I’m like, this has got to be Citi.” [Bloomberg, related]
Bank Of America Investors Still Don’t Feel Properly Compensated For Having Merrill Lynch Rammed Down Their ThroatsBy Bess Levin
Remember in 2008, when Ken Lewis was all, “Oooh, wait, I don’t know about this Merrill Lynch thing, it looks kinda bad, I don’t think I want to buy it anymore, I’m nervous [bites nails, shifts weight from one foot to the other like he has to pee]” and tried to back out of the deal? And Hank Paulson threatened to stuff him in a meat locker if he did so Lewis said okay, fine, I’ll buy it and then did, for more than one might think is reasonable to pay for a ticking time bomb? BAC investors are still upset about that. Read more »
Oh, man. Being a parent is tough, huh? Constantly worrying about drugs and drinking, and your kids getting caught up with the wrong crowd and all that. And then there’s TV and film. You can’t flip a channel without contracting an STD from some MTV trollop, am I right? And it’s like, you don’t want to be constantly monitoring what they’re watching but sometimes you have to! And it’s not like you’re not going to make mistakes, of course you’re going to make mistakes, everyone makes mistakes. Some are dumber than others, of course, and some are entirely avoidable and will make you look like a straight up idiot but whatever, honestly I’m a parent, I never said I was perfect, I’m just a human being like everyone else. That’s all I am. A government lovin’, prostie bangin’ human.