Charlie Gasparino: Blackstone President Tony James Shot The White House A Résumé When He Found Stephen Schwarzman Was Leaving Everything To The CrabsBy Bess Levin
The hedge fund billionaire will become CEO at the struggling department store chain Sears Holdings Corp, succeeding Lou D’Ambrosio, who headed up the company for around two years. Mr. D’Ambrosio’s departure was influenced by a close family member’s medical condition, people familiar with the matter said…”There’s a very big difference between being a CEO of a company and a shareholder or chairman of a company,” said Mr. Lampert, whose hedge fund ESL Investments Inc. controls 56.2% of Sears shares. But, he said, his longtime board seats at Autozone and AutoNation have taught him a lot about retailing. [WSJ]
Sayeth Kruggles: “Yes, I’ve heard about the notion that I should be nominated as Treasury Secretary. I’m flattered, but it really is a bad idea. Part of the reason is that I am indeed the World’s Worst Administrator — and that does matter. Someone else can do the paperwork — but an administrative job requires making hiring and firing decisions, it means keeping track of many things, and that, to say the least, is not my forte…officials inside the administration can of course have even more influence — but only if they’re good at a very different kind of game, that of persuading the president and his inner circle in behind-closed-doors discussion. And everything I know about myself says that I’m not very good at that game. By my reckoning, then, an administration job, no matter how senior, would actually reduce my influence, leaving me unable to say publicly what I really think and all too probably finding myself unable to make headway in internal debates.” [NYT, related]
As you may have heard, because you’ve read the reports reports or picked up on the Morse code message he’s blinked out during every appearance on CNBC or he threw himself on the hood of your car and screamed “Get me outta here” the last time you drove up to the Treasury building, Tim Geithner is ready to say good-bye to Washington. Has been for some time, in fact, but previous requests to go home were all denied. Now that his bosses are supposedly going to allow him to leave in the event Obama is reelected, many are wondering what will be next for TG. Despite having spent the majority of his career in public service and giving the impression that he has no desire to work for Wall Street, Bloomberg is thinking that with the albatross that is his unsellable Larchmont house around his neck, a family, and college tuition to pay, Geithner may not have a choice. Read more »
Earlier today, KKR announced that former Morgan Stanley Chairman and CEO John Mack will be joining the private equity firm as a senior adviser, “supporting new investing activities and providing counsel to KKR portfolio companies.” Including the new gig, Mack is now working three jobs, the others being “part-time adviser” to Morgan Stanley and author (as previously noted, he’s working on a book). And while it’s nice to see him keeping busy, you know what these little diversions don’t leave a lot of time for? Manning up and going after his dream. Read more »
Maybe you think you’ll be one of the 100,000 financial services employees projected to be laid off this year. Maybe you’re bracing for a bonus that will need to be supplemented with outside revenue streams. Maybe everything’s going great for you career-wise, you’re at the top of your game but you’ve decided a traditional get to work in the morning, leave at night, keep your pants on the whole time type job is no longer for you. Married couple Tyler and Berkley got that. And while they couldn’t have initially predicted that “turning their bedroom into a new kind of home office” would turn out to be the dream gig they never knew they wanted, that’s exactly what happened.
Tyler, 24, and Berkley, 21, who did not want their last name revealed, said they can usually make about $1,000 a week from doing five nights of amateur porn via webcam around midnight…”We did it once together, that first night,” Tyler said. “Within 30 minutes we had made, like, $300. And I was like, I’m done with the normal 40-hour week. I’m done.”
If that sounds like something you’d be interested in, take 5 to attend an information session with T ‘n B, who say that the one downside to the job is that “Having sex off and on for two, three hours gets kind of hard…It’s, like, rough, so it wears on you a lot.” Read more »
By 11 a.m. on a recent sweltering Sunday, Harrison Anastasio had already collected the cellphone numbers of five bikini-clad women on the rooftop pool at the James New York Hotel. “Don’t forget to text me,” one of the women whispered to the 17-year-old, flashing him a coy smile…A certified lifeguard, Anastasio, a rising senior at Edward R. Murrow High School, is also the pool’s tanning concierge. As concierge, Anastasio must ensure pool patrons remember to turn over at designated intervals to evenly brown their front and back sides. Guests decide whether they’d like the teen to gently tap them on the shoulder or send a text when it’s time to turn over. And so it is that this Cobble Hill teen has a phone filled with the numbers of the sorts of beautiful women (and men) who frequent rooftop pools. Anastasio maintains that he resists temptation. “I have the willpower not to text these girls after they leave the pool,” he said. [WSJ]
Though his schedule is extremely packed, Nassim Taleb, who knows everything there is to know about risk while Ben Bernanke knows nothing, has agreed to co-author a paper with the IMF’s Monetary and Capital Markets department “for the G-20 to develop ways to apply his method for identifying tail risks, or the chances of low probability, high-impact event.” Topics discussed will presumably include but not be limited to destroying the Nobel prize before it can destroy us.
Back in April, both the New York Times and Charlie Gasparino claimed they’d heard Lloyd Blankfein was tired. So tired, they were told, that a regular nap would not suffice, but rather an entire lifestyle change was necessary, which included quitting his job. Goldman Sachs said the reports were untrue and reassured us at the time that Lloyd would be with us for many years to come. Unfortunately, the stories opened the door for people to start speculating about who might take over for LB when– we don’t even want to say it let alone think it– he decides he’s done running Goldman Sachs. They included current president Gary Cohn, vice-chairmen Michael Evans and Michael Sherwood, the latter of which was recently named Gary Cohn’s successor as chairman of the partnership committee, as well as “more junior candidates” like, David Heller, Harvey Schwartz, and David Solomon. Today Reuters reports that despite being less known than some of the other names, Solomon “might have what it takes to lead Wall Street’s most powerful bank.”
While it remains to be seen whether his slight resemblance** to Lloyd will be a good or a bad thing for his candidacy (will the fact that he kind of looks like LB serve as a constant reminder that he’s not LB and never will be?) insiders are apparently into Solomon’s laid-back attitude and the fact that he’s not a trader. Here’s a little more info on Lloyd Lite. Read more »
If you’re looking for a new gig and think it might be the right fit, put in an application today, as Sheila Bair will be stepping down July 8, after her term expires.