Financier George Soros has bought a 7.91% stake in J.C. Penney Co., a vote of confidence in the beleaguered retailer as it tries to reverse a deep decline in sales. Soros Fund Management LLC disclosed in a regulatory filing Thursday that it had acquired 17.4 million Penney shares. [WSJ, related]
George Soros
Confidential To J.C. Penney: Lock Up Your Light, Cheap, Practically Disposable, And Most Importantly Throw-able Lamps!
By Bess Levin
Update: just kidding, you can’t– GS was the buyer, not the seller (we’ve been drinking).
It may not be your dream apartment but it does have some nice qualities, like 5,700 square feet and a rooftop basketball court. The younger Soros is asking for $12 million; make him an offer today before it’s promised to someone else. [Curbed via BI]
Lawyer: George Soros Reserves His Strength To Plow Through Large Numbers Of Women, Not To Throw Lamps At Them (Like They Do To Him)
By Bess Levin
If you were to have told me in August 2011 that a story about George Soros’s love life involving women 60 years his junior, “on again, off again non-exclusive relationships,” dream apartments, broken promises, and broken lamps would still be unfolding 19 months later and getting better at each turn I would have told you to check yourself. And yet it has! With an amazing update that involves George Soros allegedly being assaulted with the light fixture he allegedly assaulted his non-exclusive girlfriend with and an official reminder that George Soros has had sex with more women by 9AM than most people have in their entire lives. But first, a recap:
2005-2010: George Soros has a relationship of debatable seriousness depending on who you ask with a woman named Adriana Ferreyr. (According to Ferreyr, it was a “serious and meaningful relationship,” while according to Soros, things were “on-again, off-again and non-exclusive.”) Ferrreyr is promised her “dream apartment” on East 85th Street.
Summer 2010: Several days after the contract on the apartment is signed, Soros “heartlessly dumps” Ferreyr, which means no dream apartment for her.
Approximately a week later: The duo “briefly reconcile for a romantic night together.”
A few hours later: Soros “whispers in Ferreyr’s ear” that another woman, Tamikoa Bolton, is living in her apartment. Ferreyr expresses strong displeasure at this revelation. Soros supposedly slaps Ferreyr across the face and attempts “to strike her with a glass lamp, narrowly missing.”
August 2011: Ferreyr publicly demands $50 million for broken promises re: dream apartments, makes allegations re: lamps.
Later in August 2011: Soros strongly denies accusations, refuses to pay Ferreyr a dime.
February 2012: Soros offers to settle for $250,000, Ferreyr refuses, a court date is set for the spring.
April 30, 2012: SOROS SHOWS UP TO COURT WITH BOLTON IN TOW, AS THOUGH HE BEGGING TO BE WOKEN UP BY FERREYR STRADDLING HIM WHILE POINTING A .38 IN HIS FACE.
July 2012: SOROS UP AND PROPOSES TO BOLTON…
August 11, 2012: …BUT CONVENIENTLY WAITS UNTIL THE ANNIVERSARY OF FERREYR GOING PUBLIC WITH HER DEMANDS TO MAKE THE ANNOUNCEMENT. [I CAN'T EVEN WATCH BUT I ALSO CAN'T LOOK AWAY.]
August 13, 2012: Ferreyr, through her lawyer, wishes the happy couple all the best, maintains she’s getting that apartment.
And if you thought the last 7 months of affianced bliss had changed Soros, that the days spent wedding planning and nights spent dreaming of watching his third bride walk down the aisle had softened his stance re: Ferreyr, that he’d decided to just give her the apartment and maybe a couple mill out of pity or just to be done with the whole thing, you thought wrong! He’s fighting this thing to the death and if it means dragging it out well past his nuptials, so be it. Read more »
Somewhere in midtown Manhattan, an 82-year-old man is wistfully gazing out the window, remembering when he was young (younger, anyway) and brash and really ruined Nigella Lawson’s father’s day.
Now, $1 billion doesn’t mean as much as it did in 1992. But we think George Soros can be forgiven a moment of self-satisfaction in this twilight triumph. Read more »
George Soros Hearkens Back To A Time When Men Were Men, Women Were Women, And Hedge Funds Were A Good Idea
By Bess Levin
Speaking to Bloomberg Television at the World Economic Forum in Davos, Switzerland, George Soros cast doubt on hedge funds’ future ability to do better than the broader markets. “Since hedge funds are now a dominant force in the market, they can’t, as a group, outperform the market,” Soros said. The 82-year old added that managers’ and investors’ risk aversion will only make things worse. “Outperforming the market with low volatility on a consistent basis is an impossibility,” Soros said. “I outperformed the market for 30-odd years, but not with low volatility.” [FINalternatives, Bloomberg]
By the time that Obama ran for President, in 2008, his relations with the financial industry had grown warmer, and he attracted more donations from Wall Street leaders than John McCain, his Republican opponent, did. Yet this good feeling did not last, despite the government’s bailout of the banking sector. Many financial titans felt that the President’s attitude toward the “one per cent” was insufficiently admiring, even hostile…When George Soros wanted to meet with Obama in Washington to discuss global economic problems, Obama’s staff failed to respond. Eventually, they arranged not a White House interview but, rather, a low-profile, private meeting in New York, when the President was in town for other business. Soros found this back-door treatment confounding. “He feels hurt,” a Democratic donor says. “They pissed on him,” a confidant says. “He didn’t want a fucking thing! He didn’t want a state dinner, or a White House party—he just wanted to be taken seriously.” [New Yorker]
George Soros’s “On-Again, Off-Again” Ex-Girlfriend Is Really Happy To Hear He’s Engaged, Still Waiting For The Keys To Her Dream Apartment
By Bess Levin
As you may have heard, over the weekend George Soros announced the happy news that in the not too distant future, he’ll be a bridegroom again for the third time. The lucky lady is Tamiko Bolton and if that name sounds familiar, it’s because we were introduced to her last year* when Soros was sued by Adrianna Ferreyr, a woman with whom he’d had a five year “on-again, off-again non-exclusive” relationship during which he’d promised her a “dream apartment” on East 85th Street, reneged on the deal when they broke up, and then, while they “briefly reconciled for one romantic night together,” whispered in her ear that he’d given her dream house to another gal-pal, i.e. Bolton. Ferreyr did not respond very well to the admission, Soros supposedly threw a lamp at her, and the two have spent the last year in and out of court as one person has made the claim that she’s owed not only a dream apartment but $50 million for broken promises as well and the other person has made the claim that someone is crazy.
Anyway, Ferreyr also heard about the engagement and despite the ongoing legal dispute with George (and the fact that, separately, she and Bolton have both accused each other of harassment) is really happy for the couple, though anyone thinking the East 85th Street business is now water under the bridge can think again. Read more »
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Having George Soros As A Dad Isn’t All It’s Cracked Up To Be (Well, It Sort Of Is, But Still, It Can Be Tough Sometimes, But Not Usually)
By Bess Levin
Are there many advantages to being born the son or daughter of a billionaire many times over? Sure. Financial security. Unparalleled opportunities. World is your oyster type stuff. But there’s also a dark side that few people ever see or talk about, which can make being astonishingly wealthy by virtue of birth all the more isolating and hard. And it probably seems like no one cares about your or your plight or the anguish that comes with being able to exclusively pursue your passions instead of working because your net worth is at a level that there is “no point in going out to make more money.” Except for one: the New York Times. Today, in an effort to show kids born into immense privilege that YOU ARE NOT ALONE, the Gray Lady has run a profile of Alexander Soros, son of George, which examines the struggles he faced in coming to terms with being rich. They included: Read more »
George Soros, the billionaire investor, was auction bait Saturday night. “See my dad in shorts,” said Alexander Soros, 26, as he solicited bids for a membership at Manhattan’s Sitaras Gym, where he and his father exercise…The occasion was a party in Bridgehampton, New York, organized by the son under the auspices of his Alexander Soros Foundation, which underwrote the event’s costs (The younger Soros and his co-host, writer and director Edward Zwick, sold the gym package for $2,500). The beneficiary was Global Witness, whose staff of 65 investigates corruption and human-rights abuses related to natural resources. Many of the 340 or so people at the party were in their 20s and identified themselves as models, publicists, students or nightclub promoters. George Soros, 81, dressed in a plaid shirt and slacks, sat through the proceedings almost unnoticed. His son, wearing a crisp white Yves Saint Laurent suit, was the one guests knew or wanted to meet. Only when MC Hammer and a crew of dancers began performing his early 1990s hits — including “Pray” and “Can’t Touch This” — did Alexander Soros fade into the crowd. [Bloomberg]
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