The U.S. territory’s leaders are seeking to lure mainland residents such as hedge-fund billionaire John Paulson. Moving to Puerto Rico could allow Paulson and other top-earning taxpayers to shield future income from the Internal Revenue Service without giving up their passports…Even with potential tax advantages, Paulson and others considering a move to Puerto Rico should be wary, said Argeo Quinones Perez, a professor of economics at the University of Puerto Rico’s Rio Piedras campus. “For people as wealthy as Mr. Paulson and the like, spending half a year in this provincial, third-world environment would be like spending half a year in minimum-security prison,” he said in an e-mail. [Bloomberg, related]
hedge fund managers
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.
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 »
Remember, back in 2009, when Phil Falcone realized he’d forgotten to set aside enough cash to cover his taxes and came up with the idea to loan himself the money from a gated investor fund? And investors got all bent out of shape about it and the SEC did too? If the former was looking for some sort of an apology and the latter was looking for some show of groveling (in an attempt to avoid paying a fine/having a judge rule he can’t come within 200 feet of a public company), sorry, ’cause Phil’s not sorry. Read more »
The end of 2012 might’ve been a tough one for the SAC Capital founder, what with the matter of a former employee being accused of orchestrating “the most lucrative insider trading scheme ever,” being referenced in the complaint as Portfolio Manager A, and ultimately being forced to show the softer side of Steve but the Big Guy still managed to take home $1.3 billion, so he’s got that going for him. Other people who made a respectable amount of money include highest earning hedge fund manager David Tepper, with $2.2 billion, Carl Icahn at $1.9 billion, and retired person James Simons, who didn’t have to lift a finger for his $1.9 billion. [Forbes]
Let this be a lesson to anyone hoping to avoid a couple centuries in prison– nobody fucks with Jimmy Cayne’s roach clip and gets away with it! Read more »
“It is kind of like my grandma Roz. She wanted to hoard money. She would not leave me a message on my answering machine because she did not want to be charged for a phone call. It is really hard to convince somebody with that mindset to change what they’re doing. We have come up with what we think is a win-win situation for Apple where Apple gets to keep its war chest, they get to keep the money, they get to have it for bad times, for growth, for acquisitions.”[Bloomberg TV, earlier]