Tags: Activist Investors, Dan Loeb, Hedge Funds, presentations, Sotheby's, Third Point, websites
Back in October, hedge fund manager Dan Loeb sent a letter William Ruprecht, to the CEO of Sotheby’s, in which he made the following points:
- Sotheby’s is completely ignorant about contemporary art
- Ruprecht is overpaid
- Sotheby’s is a joke compared to Christie’s
- In spite of all this, Sotheby’s future can be salvaged, but it’ll take firing Ruprecht and adding Loeb and a few directors of Loeb’s choice to the board
Shockingly, Sotheby’s did not appreciate the constructive criticism, and adopted a poison pill to ward off Loeb and Co. Last week, Loeb reiterated his position in an open letter to Sotheby’s shareholders, in which he underscored that, in his professional opinion, the auction house knows nothing about selling art. (He also reminded them to vote Loeb ’14 at the company’s annual meeting in May.)
Team Sotheby’s, apparently sick of Loeb’s shit, did what any corporate entity does when it’s decided its done play Mr. Nice Guy: assembled its top men and women in a conference room and declared that no one could leave until they’d come up with a 53-slide PowerPoint rebuttal.
Said rebuttal can be viewed in its entirety here, but it mostly boils down to: Read more »
Tags: body bags, challenges, Don Brownstein, drugs, Millennium Laboratories, PowerPoint, presentations, riddled with bullet holes while gunfire sounded as though they were at a shooting range, Structured Portfolio Management, The Untouchables
May 2010, Structured Portfolio Management founder Don Brownstein is said to “walk around [a] crowded conference room table while slapping the palm of his hand with a baseball bat, stopping behind [a trader] while stating, ‘I’ll kill you if you leave. The only way you can leave this firm is in a body bag.’” January 2012, Millenium Laboratories really cranks things up a notch re: suggestion of what fate will befall people who attempt to leave their company: Read more »
Tags: 9 reasons, always awake with Citi, Citigroup, clip art, dream job in my dream company, enthusiasm, MAC genius, passion is business, presentations, Vikram Pandit
When you’re applying for a gig on Wall Street these days, you’ve got to do something that will set you apart from the crowd. Jobs are scarce and while anyone can tell a firm why they should be hired, few go the extra mile to show. Armed with this knowledge and the knowledge that competition for positions at Citi is fierce, one recent applicant knew she had to raise the stakes. She didn’t just send Citi a resume and cover letter indicating her interest and qualifications– anyone can do that. She sent them an 11-page presentation entitled “I’m Always Awake With Citi: 9 Reasons Why You SHOULD Hire Me As Your Investment Banking Analyst” filled with headers like “Smart” and lotsa clip art. Perhaps it was the reasons, perhaps it was the fact that she appealed to someone at Citi’s love of its insomniac tagline, but we’re told she’s been asked to come in next week. (We’re also told she created similar presentations for other banks, such as BAML, which has also invited her to stop by next week, and that she has interviews set up with “several” firms. Citi may be her “dream,” but they’re not the only ones who should be offered a piece of this and girlfriend is a hustler.) Job-seekers, take note.
Subject: Citi Investment Banking Analyst Application
I’m here to apply for Investment Banking Analyst position in Citi, my dream job in dream company. I’m graduating business school in Dec 2010, so I can start work in January 2011. My cover letter and resume are attached and I will appreciate it very much if you could do me favor to talk a look or forward them to other hiring managers.
Look forward to hearing from you.
Thanks very much.
Read more »
Tags: Billiam Ackman, General Growth Properties, Ira Sohn Investment Research Conference, presentations
We brought you Bill Ackman’s first presentation on the ratings agencies earlier this week. Now here’s the second part of the presentation on General Growth Properties.
GGP Part Two [PDF]