Olympics 2012

  • News

    Caption Contest Thursday

    “Swung by @JPmorganchase and got to see where all the action takes place.“ [Meghan Musnicki]

    / Aug 16, 2012 at 1:24 PM
  • News

    BlackRock Employee Has Less Than One Hour To Stretch, Mentally Prepare For Shot At Olympic(-ish) Glory (Update)

    BlackRock sees your piddling food eating contests and raises you a real challenge.

    The contender: BlackRock portfolio manager
    The event: Long jump, on the trading floor
    The details: “The guy jumped 25 feet in college; market is biased at him going 15 feet and shorter. $2,000 pool so far. Larry Fink has $50 on the guy crossing 15 feet. Jump is at 3PM.”

    While sadly there are no special uniforms involved (the guy is wearing “work clothes and sneakers”) and no sand pit, this is still nevertheless tremendously exciting. But first up, men’s freestyle wrestling. We’ll be back after this. Stay tuned.

    / Aug 10, 2012 at 2:15 PM
  • hotels restaurants streets theaters bars etc

    Maybe If The Olympics Hadn’t Monopolized All The Tail In Town, Someone Would’ve Had Nicer Things To Say About It

    “The Olympics are an economic failure as London is totally empty: hotels, restaurants, streets,” Nouriel […]

    / Aug 6, 2012 at 1:19 PM
  • News

    Repentant British Banks Forcing Clients To Transport Themselves To Olympics, Stay In What Is Basically The Equivalent Of Motel 6, Drink Olde English

    Time was, working on Wall Street meant going to great lengths to lavishly entertain clients whose business you wanted to win or keep. Client wanted to party on a yacht with forty Brazilian hookers? You made it happen. Client wanted Jay-Z to perform at his son’s Bar Mitzvah? You were on it. Client wanted you to manipulate Libor while simultaneously hand feeding him grapes? All you wanted to know was red or green.

    Whatever they wanted you delivered and then some and the best part was nobody said anything about it. Nobody  judged, nobody protested, nobody wondered if flying to Hyōgo Prefecture to personally slaughter a cow and bring it back with you in business class so the client’s dinner would be fresh was the best use of company money.  Then you nearly take down the global financial system and have to be bailed out by the government and all of a sudden it’s like people think they have the right to count your (or in the case of banks still partially owned by the UK, their) money.

    So you scale back the big outings. You make less of a spectacle. Should be enough to get ’em off your backs, only it’s never enough for these people. They’re not happy until you’re taking clients to Applebee’s and suggesting getting one appetizer and splitting an entrée, or inviting them to major international sporting events and then denying them black car service, putting them up in relative dumps, and making them drink malt liquor. Which is more or less what one bank is doing.

    The games are typically one of the biggest corporate schmoozefests on the calendar, with official sponsors and interlopers alike flashing the cash for the best tickets, best party venues and best celebrity guests. Many banks and other companies spent mightily four years ago in Beijing to show their clients a good time and increase their profile in China. This time around, banks are under pressure to cut costs and avoid displays of wealth that will further inflame an already angry public. What is more, the U.K.’s influence in the world isn’t what it used to be, and its economy, mired in recession, doesn’t exactly have the growth prospects of China’s. And antibanking sentiment here is still off the charts after several years of global financial turmoil.

    Lloyds is arguably in the trickiest position by virtue of its Olympic sponsorship. The [sponsorship] deal was struck in the heady window between the day London was awarded the games in 2005 and when the global financial crisis kicked into gear—and kicked Lloyds into trouble and, eventually, partial state ownership.

    One of the main points of such deals is the ability to strut with clients around the Olympic Park—something the bank is largely keeping in check. For one thing, Lloyds didn’t buy all of the several thousand tickets allocated to it in the original agreement. And being invited to the games by Lloyds isn’t exactly a luxe affair. The bank said “the majority of our guests will travel to and from Olympic venues on public transport.” Lloyds also says it won’t offer guests transfers to and from airports, and will in some cases put them up at three- or four-star hotels—a contrast to the five-star accommodations frequently used in bank hospitality events. Lloyds has also put the kibosh on Champagne.

    Happy now?

    Hold the Bubbly: London Financiers Keep Low Profile at Olympics [WSJ]

    / Aug 3, 2012 at 1:58 PM
  • News

    Dreams Of ‘What If’ Haunt Olympic Hopeful Who Walked Away From Morgan Stanley

    World champion rower Michael Blomquist valued the chance for an Olympics gold medal in London […]

    / Apr 20, 2012 at 11:49 AM
  • News

    Bank of America Casts A Dark Cloud Over New Hires’ Summer Plans

    Alternatively, things are looking up for those hoping to romance an Olympic synchronized swimmer.

    / Feb 6, 2012 at 6:29 PM
  • News

    Jon Corzine Will Have You Know That Each Time A Door Closes, A Bigger, More Fucking Awesome One Opens

    As you may have heard, early this morning, Jon Corzine resigned from MF Global. According […]

    / Nov 4, 2011 at 3:24 PM