Phil knew that this was more than just a threat. In all the years they’d been living together, he’d never seen her so mad, not even after she’d discovered he’d been hawking her vintage Hermes scarves for cash last summer. No, she’d really had it with him this time. It’d been more than three years since she’d been able hold her annual Christmas party, the social event of the season that people had done unspeakable things to score an invite to in the past and her patience had long since whittled down to that of a toothpick.
If she wasn’t able to throw it the way she liked– Swarovski-encrusted invitations, go-go dancers dressed as Romans flanking the pool room, ice sculptures done in the family’s likeness, individual raw-bars at dinner, a ‘Maids-a-Milking’ themed after hours– then she wasn’t going to throw it at all. Better to make ‘em wait and come back with a vengeance then serve up a watered down, less hot version of what she was capable of. So they’d agreed on a deadline: Christmas 2014. She’d started working on preliminary plans in August and, yet, as of last month, not one penny had been deposited into her ‘Travel and Entertainment’ fund.
She’d sent emails about it marked ‘high importance,’ pestered his secretary, and finally stormed his office earlier in the week, where she found him doing little more than raking sand back and forth on of those desk trays, rather than hustling to get the money together. She exploded then and she exploded this morning, following him to the front door of the townhouse in her robe and shouting in no uncertain terms that if he didn’t come home with the money that night, he needn’t come home at all. And, honestly? As of lunchtime he was trying to figure out if he had any buddies left who’d let him sleep on the couch, just for a night or two until he’d found something more permanent. And then he remembered something. Page 741 of his employment agreement. Not with Harbinger Capital Partners. Not with HC2. Not with LightSquared. But with the Harbinger Group. Read more »
In 2011, Dean O’Malley walked away from a high-paying job with no plans for the future, other than to escape the world of finance. His IT job at JPMorgan Chase (JPM) had survived the financial crisis, but he had no desire to stick around for the next one. O’Malley had grown tired of the crazy hours, increasing regulation and negative stigma. “Banking was one of those industries where we were seen as the root of all evil. I felt like I wasn’t really doing any positive work,” the Southern California native told CNNMoney. Just two weeks after leaving his Vice President of Technology post, O’Malley ran into a friend who opened up a very different career path. Her family was launching a business based on jetpacking, an emerging extreme water sport that lets riders fly above the water James Bond-style. Even though he thought jetpacks looked crazy at first, O’Malley eventually agreed to run day-to-day operations and invest in the new business, which launched in Newport Beach, California. Three years later, O’Malley is loving life as president of Jetpack America, a business he’s led to $1 million in annual gross revenue. He’s making just a fraction of what he took home at JPMorgan, but O’Malley said he’s in it for the long haul. “Not a day goes by that I don’t thank myself for walking away from the old job,” said O’Malley, who is 38 years old. [CNNMoney]
Deutsche Bank AG , which has struggled to overcome investor concerns about its financial strength, is replacing its longtime finance chief with a Goldman Sachs Group Inc. partner, according to people familiar with the matter. Stefan Krause , who has faced criticism from investors over his financial leadership of the giant German bank, will take a newly created position within Deutsche Bank, with responsibilities including strategy, cost-cutting and other issues, the people said. His replacement, Marcus Schenck, was the finance chief of German utility E.ON AG from 2006 through 2013. He joined Goldman Sachs last year. [WSJ]
Early last year, Mr. Milian became one of the three barbers at Salvatore’s, a shop that caters to Goldman Sachs employees in the atrium of the Conrad Hotel, next to the bank’s global headquarters at 200 West Street in Battery Park City. By his account, all of his clients, junior employees at the bank, would ask for haircuts that didn’t look like haircuts so no one would realize they had left the office. They rarely requested shaves, and when they did, Mr. Milian said, it was always before the opening bell, a sure sign that they had stayed at the office through the night. And forget about after-shave…He said he started hearing buzz about a new barbershop that had opened in SoHo, where he thought he could be more creative. He left Salvatore’s in December and can now be found at Harry’s, a light-filled, two-chair shop born from an Internet shaving start-up founded by two friends…“I didn’t want to do 10-minute haircuts,” said Mr. Milian, who has a tattoo of straight-razor blades on his left forearm. “I wanted to make something.” He now wears vests instead of suspenders, a mustache instead of a stiff upper lip. He gives two or three straight-blade shaves a day, using a soft white towel with an “H” embroidered in the corner. Most important, he said, he feels like he is part of something rather than just a cog in a machine. At Harry’s, he can express himself. And now, he said, he can even grow a beard. [Dealbook]
A team of nine from the now-defunct London office of SAC Capital Advisors LP has joined Louis Bacon’s $12.1 billion hedge fund Moore Capital Management LP. The team includes seven portfolio managers and two analysts. It is the largest group of portfolio managers to move together from SAC following the closure of its U.K. office at the end of 2013. A spokesman for Moore confirmed the hires. [WSJ]
The New York Stock Exchange is losing another top executive: Larry Leibowitz, the guy known around Wall Street as the chief operating officer of stock exchange parent NYSE Euronext, and just about everywhere else as the brother of “Daily Show” host Jon Stewart. NYSE Euronext was bought this month by an upstart rival from Atlanta, IntercontinentalExchange Group Inc., and Leibowitz will leave the combined company at the end of the year, an NYSE spokesman confirmed on Tuesday. Patrick Healy, CEO of the Issuer Advisory Group, is a fan. He called Leibowitz “the adult in the room” who “did right” by the issuing companies, and he bemoaned the “significant long-term consequences” of Leibowitz’s departure. [MarketWatch]