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  • cryingguy

    News

    Bonus Watch ’13: Everyone *Could* Get A Raise

    That’s what some report says now but seeing as how we’ve got about six months to go, that’s all subject to change/don’t get your hopes up/maybe your take home will quadruple/maybe you won’t get a bonus at all/etc.

    / Jun 25, 2013 at 3:18 PM
  • News

    Nasdaq Officials Would Just Like To Point Out That Anyone Who Lost Money As A Result Of The Exchange’s Incompetence Have Little To No Legal Recourse

    Oh you can try a lawsuit but, historically speaking, it won’t do shit.

    Nasdaq is sending a message to firms weighing lawsuits related to trading losses in Facebook’s initial public offering: winning won’t be easy. The exchange operator believes it is protected by its contracts with members and by its unusual legal status, which is rooted in its dual role as a regulatory body as well as a business that makes money running markets. Exchange officials in recent weeks have pointed out to analysts that Nasdaq has never been successfully sued over a trading error. “When you look at member agreements that people sign, it’s quite explicit that they’re bound by that accommodation policy,” Robert Greifeld, Nasdaq’s chief executive, said last week at a Sandler O’Neill + Partners conference, referring to legal agreements capping the exchange’s payouts linked to system problems…Banks and brokers have estimated they lost hundreds of millions of dollars due to technical problems during Facebook’s May 18 debut.

    The glitches forced Nasdaq to delay Facebook’s opening, and left trades involving millions of shares unconfirmed for hours. Amid the chaos, traders were forced to guess their positions and place additional orders based on those estimates. When Nasdaq delivered the results of the trading Friday afternoon, many firms were caught off guard and scrambled to reposition.

    According to Greifeld, the last guy who tried to get his money back “trades on the pink sheets now” but take your best shot.

    Nasdaq Claims Strong Defense [WSJ]
    Related: UBS Not Sweating The Small Stuff

    / Jun 14, 2012 at 4:03 PM
  • News

    Royal Bank Of Scotland Chairman Isn’t Gonna Sugarcoat Things Here

    Sir Philip Hampton said investors who owned RBS shares before its £45.5bn bailout in October 2008 were likely to be dead before the bank’s value recovered to anything close to its pre-crisis level. “I don’t think shareholders wealth is likely to be restored any time in my lifetime or some lifetimes beyond,” said Sir Philip, […]

    / May 30, 2012 at 3:36 PM
  • DanLoeb_4 (1)

    News

    Dan Loeb Has A Valentine’s Day Surprise For Yahoo

    The promise of a proxy battle, unless they comply with every one of his demands (e.g. replace four board members with Loeb and three of his friends). Little bit of DL trivia for the Third Point historians among us: with this latest 13-D, Loeb is reclaiming his tradition of notifying adversaries of his intent to […]

    / Feb 14, 2012 at 4:32 PM
  • Layoffs

    Layoffs Watch ’11: Bank Of America Actually Cutting 30,013

    Earlier this month, Bank of America announced that it’d be laying off 30,000 employees, as part of a program designed to help the firm make/not lose money called Project New BAC. It’s not that Brian Moynihan et al wanted to let these people go, but thanks to decisions by his predecessors including but not limited […]

    / Sep 20, 2011 at 4:31 PM
  • News

    Dear Investor

    For the month ended January 31, 2009 Highbridge Long/Short Equity Fund, L.P. posted an estimated net return of -2.48%, bringing its year-to-date net return to -2.48%. Yours truly, Highbridge Long/Short Equity Fund, L.P.

    / Feb 3, 2009 at 4:18 PM
  • News

    Unsolicited Advice To CNBC

    If you’re going to shame a “website” for putting up what was in fact a rumor, don’t send David Faber out on the air an hour later to muse that “Citadel has been down around 26 percent- or so they say” and then “from what I’m hearing, there are a lot of questions about forced […]

    / Oct 16, 2008 at 9:34 AM

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