great ideas

  • Olive_Garden_restaurant

  • I'm not happy about it, but fine. Let them in.

    News

    Argentina Decides Talking To Paul Singer Maybe Not Worse Than Defaulting At Midnight

    Argentina is lacking in many things: Sufficient reserves to pay its bills, for one. International […]

    / Jul 30, 2014 at 12:11 PM
  • firstroundcapital

    News

    The Question Isn’t “Why Does First Round Capital’s Holiday Video Feature A Talking Camel And Its Founder Riding A Wrecking Ball (In a Fat Suit)?”

    …the question is, why didn’t your firm have the foresight to gather everyone round to […]

    / Dec 19, 2013 at 3:55 PM
  • ferrari-joyride

    News

    Attention London-Based Financial Services Employees: The Season For F*cking Up With No Repercussions Is Nearly Upon Us

    Been thinking about TP’ing your CEO’s house? Or placing a massive trade that, let’s be […]

    / Oct 31, 2013 at 2:27 PM
  • SuperDuperWeenieTruck_t700

    News

    Steve Cohen’s Still Got It

    “In an effort to boost morale, Mr. Cohen arranged in July for a local “Super […]

    / Sep 25, 2013 at 2:41 PM
  • questionable

    News

    If You’d Like To Put All Your Money Into An Investment Idea Without Knowing What It Is, Do We Have A Literally Named Company For You

    Here at Dealbreaker we have a strict policy of not providing investment advice but I […]

    / May 28, 2013 at 4:30 PM
  • tattoosforbonuses

    News

    Bonus Watch ’13: At Least Just Consider A Tastefully Designed ‘GS’ On Your Lower Back Or Bicep

    Actual question to ask yourself now, so you’ll have an answer ready should the offer […]

    / May 1, 2013 at 5:33 PM
  • News

    Dick Bové: New York-Based Banks Should Move To A State That Won’t Hold Them Accountable For Fraud

    In the face of “constant hostility”—including lawsuits and a general lack of interest in promoting […]

    / Oct 2, 2012 at 4:47 PM
  • News

    Harbinger Capital-Backed LightSquared: What If We Told You We Could Build A Wireless Network That Doesn’t Kill People Via GPS Interference? Does That Sound Like Something You’d Be Interested In?

    As many of you know, the last year or so has been a pretty tough one for Phil Falcone. In addition to a civil suit against him by Harbinger Capital investors, DWAI’s on the home front, and the pesky matter of being charged with securities fraud by the SEC, which would like to see him banned from the industry, what’s really been plaguing him has been the opposition encountered by LightSquared, his dream and the thing he’s more or less staked all his and his investors’ money on. Before it entered Chapter 11 bankruptcy in May, the most serious charge against the company was that while it may seek to create “convenient connectivity for all,” in doing so, the odds are high it would GPS interference that would result in boats getting lost at sea; “degrade precision services that track hurricanes, guide farmers, and help build flood defenses“; and, according to the FAA, “cost 794 lives in aviation accidents over 10 years with disruptions to satellite-aided navigation.” Now, four months later, the would-be wireless network has come back with a plan: LightSquared, but without all the bad parts (for now).

    Philip Falcone’s LightSquared on Friday made a proposal to the Federal Communications Commission that the company hopes will solve the regulatory issues surrounding its wireless satellite network and help it build its business faster without abandoning its long-term goals…LightSquared filed to modify its license application so it can use its five megahertz of spectrum that haven’t caused GPS worries. It also seeks to use another five that it would share with federal-government users. The other filing, a rulemaking petition, calls for LightSquared to forego using the “upper” 10 MHz that have caused GPS concerns. In the meantime, it still wants the FCC to consider use of that 10 MHz but agreed to wait for and cooperate with “operating parameters and revised rules for terrestrial use of this spectrum.”

    Don’t get them wrong, they *want* to use the stuff that’s possibly GSP harmful, but in the meantime will be happy to use the stuff that isn’t, if that works for everyone.

    LightSquared Proposes Sharing Wireless Network With Government [DowJones]

    / Sep 28, 2012 at 2:29 PM
  • QUESTIONABLE!

    News

    Great Idea!

    Here’s a tip exclusively for Dealbreaker Pro™ subscribers: buy stock in the Great Idea Corp. […]

    / Aug 15, 2012 at 4:13 PM
  • News

    The Bar Has Been Set For Lengths Gone To In Order To Secure Seed Capital

    [caption id="attachment_77416" align="alignleft" width="260" caption="Home?"][/caption]

    Want to get in shape? Want to save money? Want to impress industry execs with your problem solving skills and can-do attitude? Want to hole up and pound out a business plan for the [hedge fund/private equity firm/boutique investment bank/whathaveyou] you want to get off the ground? What if we told you there was a foolproof way to accomplish all those goals and more, that it wouldn’t cost you a thing, that you might even have some fun doing it, and that there’d be free cereal and Coke involved? Would that sound like something you’d be interested in? Then, congratulations, you’re already halfway there. Step 1 was getting on board, Step 2 is choosing the investment bank or asset management firm that’s lax on night security and moving in.

    Eric Simons wanted to get straight into the thick of it, so after high school, and a short period crashing on couches with friends at the University of Illinois, Simons accepted a slot in the inaugural class of Imagine K12, a new Silicon Valley incubator focused entirely on education. His plan? Start a company that builds tools allowing teachers to create and discover lesson plans, and share them with students and teachers…But his initial idea wasn’t quite working. Imagine K12 was a great place to get mentorship and learn how startups are built, but he and his ClassConnect partners had been given just $20,000 by the incubator, and after the four-month program ended, the money was gone. When his friends left to go back to college, Simons needed another solution. Imagine K12 is hosted at AOL’s Palo Alto campus, and everyone involved gets a building badge. As it turns out, Simons told CNET, the badges kept working, even after the program ended, giving him ongoing access, along with a face that had become familiar to others who worked there. “I couldn’t afford to live anywhere,” Simons recalled. “I started living out of AOL’s headquarters.”

    For someone with neither money nor an aversion to sleeping on others’ couches, the AOL building had plenty of allure. “They had a gym there with showers,” Simons said. “I’d take a shower after work. I was like, ‘I could totally work here…They have food upstairs, they have every drink on tap. This would be a sweet place to live.'”
    Note that Simons said he would work there. After his four months in the incubator, he was used to toiling away at ClassConnect inside the building, and with other programs, from the Stanford-focused incubator StartX to AOL’s own First Floor Labs also taking up space there, there was no shortage of non-AOL employees shuffling in and out all the time. But Simons was intent on launching his startup, so why not find a desk and pound away for 12 to 16 hours a day? “There were so many people going in and out each day,” he said. “They’d say, ‘Oh, he just works, here, he’s working late every night. Wow, what a hard worker.'” Having spent several months legitimately working in the building, often quite late, Simons had noticed that although there were security guards with nightly rounds, there were at least three couches that seemed outside those patrols. Plus, they looked fairly comfortable. He claimed them. This was his routine: He’d work until midnight or later, and then fall asleep around 2 a.m. on one of the couches. At 7 a.m. — and no later than 8 a.m. so he’d be safely out of his field bed before anyone else arrived — he’d wake up, go down to the gym for a workout and a shower, and then go back upstairs and scarf a breakfast of cereal and water or Coke. Then he’d work all day, finally waiting until everyone else in the building had gone home before returning to one of his three favored couches. “I got a really good work ethic,” he said, “and I got in shape, since I had to work out every morning.”

    Simons could probably have crashed elsewhere, but he wanted to see how long he could make the AOL squatting work. Some friends knew what he was doing, and they thought it was funny. But no one helped him, other than a couple buddies who discussed strategies with him on how to evade security. And then came that fateful morning with the 6 a.m. yelling. “One of the guys who manages the building came in at like 5 or 6 in the morning,” Simons lamented, “and he scoured the entire place to find me. And he ripped me a new one. He was pissed that I was treating it like a dorm. Which was reasonable.”

    No one called the police, Simons “continues to go to the AOL building for meetings to this day,” and a venture capitalist, Paul Sherer, threw some seed money Simons’ way, based on the fact that the guy lived out of the place. (“Tenacity and commitment are key attributes of a great entrepreneur,” Sherer said. “Eric has these in spades as demonstrated by his willingness to do whatever it takes to get his company off the ground.”) This could be you.

    Meet The Tireless Entrepreneur Who Squatted At AOL [CNET]

    / May 25, 2012 at 1:59 PM
  • News

    Layoffs Watch ’12: Bank Of America

    In April 2010, Bank of America said ENOUGH. Enough with this losing of money business. We want to know what it’s like to have a quarter in which we actually make a little– wouldn’t that be something? As this was a very lofty goal for the firm, the higher-ups knew they had to get serious– really focus and hone in an on plan of action. First, they gave their new (money-making) mission a special codename: Project New BAC. Then, 44 executives “fanned out around the company to ask employees low- and high-level for ideas on how BofA [could]…reduce expenses.” As we now know, what they came up with re: the reduction of expenses was that 30,000 people should be fired and over the last year, exactly that has happened. And even though a whole bunch of senior people have quit, which has helped the bottom line a bit, it hasn’t been enough for meddlesome investors to put a sock in it re: “reining in expenses” and “profit outlook” in general. So, a couple things are going to happen: 1. A whole bunch of well-paid* bankers are going to be escorted out of the building and 2. In order to pick up the slack left, clusters of junior bankers are going to put in a van which will drop them off in whatever division needs them most at the time.

    The Charlotte, N.C., company is planning about 2,000 staff cuts in its investment banking, commercial banking and non-U.S. wealth-management units, said people familiar with the situation. Those operations were vastly expanded with Bank of America’s 2009 purchase of Merrill Lynch & Co. The reductions are significant because of whom they target: the high-earning employees whose efforts helped Merrill Lynch account for the bulk of Bank of America’s profit since the financial crisis. The cuts come on top of a plan announced last year that will see Bank of America eliminate 30,000 jobs over three years in its consumer banking divisions…The No. 2 U.S. bank by assets already is facing a wave of high-profile defections in its institutional businesses, such as investment banking, amid Wall Street’s annual post-bonus job-hopping season. The upheaval comes as investors are pressuring banks to rein in expenses without giving ground competitively. Despite a 46% rise this year, Bank of America shares have lost a third of their value in the past year, amid questions about the industry’s profit outlook.

    Cutbacks aren’t Bank of America’s only response to surging costs. The bank is loath to cut too deeply in businesses, such as the fixed-income trading operation, that are showing improvement and highly competitive. One structural shift being planned will pool junior investment-banking employees across different industry sectors so the younger bankers can be routed to whatever area is most in demand at that moment, said people familiar with the situation. Proponents say that move will help younger workers gain more experience, while others say it will detract from the bank’s service to clients.

    BofA To Cut From Elite Ranks [WSJ]

    *For BofA.

    / May 1, 2012 at 10:27 AM
  • KONICA MINOLTA DIGITAL CAMERA

    News

    Want To Get Your Body Ready For The Boardroom And The Beach? Strap A Saddle To Your Back And You’re Good To Go

    Throughout the week, we’ve been exploring the workout regimens of various billionaires. George Soros gets his elliptical on at Sitaras Fitness, alongside fellow members like Jack Welch and former Amex chairman James D. Robinson III, who can leg-press 900 pounds). Paul Tudor Jones’s wife forces him to practice Ashtanga yoga, though he’s allowed to take the summer off. While the practitioners of these routines may have found them to be enjoyable and effective, they contain the rigor of lifting one’s hand to stuff another chip in one’s mouth when compared to the new workout regimen pioneered by Jesse Itzler, which, we’re calling it now, is poised to take the upper echelons of Wall Street by storm.

    Fueling [billionaire Sara Blakely’s] more impetuous side is her entrepreneurial twin: husband Jesse Itzler, 43, a former rapper from Long Island, who has backed and cofounded a few startups, including Marquis Jet, which sells fractional air-travel time. When I meet him at his midtown Manhattan office, he bounds up the stairs in a sweaty headband, his blond curls dripping. He’s come from an intense cardio workout with a Navy SEAL he hired to move in with him and Sara for a month. (This is more efficient than hiring rickshaws from his office, as he used to do, and paying the driver to be a passenger while he hauled the vehicle all the way home.)

    For what probably amounts to no more than $30/day, you get a 1-2 punch workout, as driving a rickshaw through town would not only tone the lower body but would be tremendously embarrassing for most recognizable millionaires and billionaires. Depending on what route you want to take, in the span of 60 minutes you’ll toughen the body and humble the mind. And if you’re worried about plateauing, don’t be: once you master the rickshaw routine, simply stop by Central Park South and pay a horse drawn carriage driver and his pony to be the passengers while you slap a saddle on your back and pull the cart home. You ass can thank us later.

    Undercover Billionaire: Sara Blakely Joins The Rich List Thanks To Spanx [Forbes]

    / Mar 8, 2012 at 2:46 PM
  • News

    Congressman Uses Scene From Ben Affleck Movie In Which One Character Asks Another To Beat The Shit Out Of A Guy With A Hockey Stick To Promote Debt Debate Unity

    House Majority Whip Kevin McCarthy (R-Calif.), the party’s vote counter, began his talk by showing […]

    / Jul 27, 2011 at 4:00 PM
  • News

    Spaniards Provide Embattled R. Kelly With Lightbulb Moment

    Yesterday we learned the disturbing news that R. Kelly may soon lose his house, on […]

    / Jul 14, 2011 at 11:18 AM
  • Hedge Funds, News

    How To Make Your Hedge Fund A Runaway Success, By Alphonse Fletcher Jr.

    One of the most wonderful aspects of the hedge fund industry is that because it […]

    / Jul 7, 2011 at 9:48 AM
  • News

    Accused Insider Traders Debate Whether To Burn Or Wash A Stack Of Cash

    You’re an (alleged) insider trader who’s been working a scam for a couple decades. You […]

    / Apr 6, 2011 at 12:42 PM
  • News

    Looking To Get A Significant Other Off And/Or Irritating Colleague Off Your Back? Take A Page From This Guy’s Playabook

    Perhaps you have a spouse who you’ve just had it with. Or, a guy at […]

    / Feb 1, 2011 at 1:30 PM
  • News

    Confidential To Any Madoff Victims Looking To Get Paid

    Or anyone interested in taking a gamble on Madoff victim payouts. Consider the following route.

    / Jan 7, 2011 at 1:11 PM
  • News

    Product That Lets You Pantomime Giving Hand Jobs Actually Pretty Decent Money Maker

    That’s right, ladies. The Shake Weight, which capitalized on the idea that performing handies all […]

    / Aug 26, 2010 at 5:02 PM
  • News

    “Bullied” Trader Offers Managers Everywhere Genius New Excuse For Poor Performance

    One of the hardest parts of being a hedge fund manager is coming up with […]

    / Jul 29, 2010 at 1:25 PM
  • News

    Will Martin Coward Start A New Hedge Fund With His New Gal-Pal?

    First, the back story: Martin Coward and Elena Ambrosiadou, currently in the process of getting […]

    / Jul 26, 2010 at 11:59 AM
  • News

    Ex-Merrill Broker Who Ripped Off $780,000 From Bank Pleads Guilty, Frauds Everywhere Weep For Loss Merrill’s Mensa Members

    Steve Mandala is the guy who took Merrill Lynch for $780,000, and with some of […]

    / May 19, 2010 at 5:45 PM
  • News

    Citi’s Big Idea

    The guys at Citi are smarter than anyone else on the Street, which is why […]

    / Feb 8, 2010 at 3:30 PM
  • News

    RBS Employee Fired For Awarding Himself Unauthorized Bonus

    For the past few years, bonuses at RBS have been what you call not so […]

    / Feb 8, 2010 at 12:31 PM
  • News

    The Bloomberg Proposal

    Like many of you, Mike Bloomberg was listening with rapt attention as President Obama laid […]

    / Jan 22, 2010 at 11:27 AM
  • News

    The Secret To Making The Big Bucks At Citigroup, Part II

    As you’ve probably heard, it’s not that easy to get rich as an employee of […]

    / Jan 14, 2010 at 12:52 PM
  • News

    Bonus Watch ’10: Bank Of America

    Hey business owners, you know what would be a great way to get employees to […]

    / Jan 8, 2010 at 11:10 AM