Mike Cavanaugh gave up a lot when he quit his job as the co-head of JP Morgan’s corporate and investment bank to become president and co-COO of the Carlyle Group. He gave up the chance to see the words “heir apparent” mentioned in every article written about him for the next five years, or until Jamie Dimon decides to retire. He gave up the bi-monthly treat of having Dimon take him down to the entrance of 270 Park and tell him that one day, everything the light touches will be his. He also gave up millions a year if you’re only looking at base pay, though it’s unclear why you would do that. Read more »
so that’s nice for him
The wireless broadband provider That could
Philip Falcone’s LightSquared Inc. will probably be able to borrow $1 billion to finance its exit from bankruptcy as a standalone company, Credit Suisse Securities LLC said in a letter made public Friday. The Credit Suisse Group AG (CSGN) unit said it was confident it could arrange the proposed bankruptcy-exit loan as long as LightSquared, a wireless broadband provider, met conditions including obtaining the “cooperation of all parties-at-interest” in the reorganization and “all required regulatory approvals.” Philip Falcone’s LightSquared Inc. will probably be able to borrow $1 billion to finance its exit from bankruptcy as a standalone company, Credit Suisse Securities LLC said. [Bloomberg]
Mike Corbat scored himself a nice little raise. Read more »
Now he can squeeze it in in between his afternoon workout session and his standing reservation at the Grand Havana room.
Yes, tje jury has been selected for a trial against the guy who is alleged to have orchestrated “the most lucrative insider trading scheme ever,” AKA his former employee, Mathew Martoma. Yes, Frontline just aired a special on him that was not exactly flattering. Yes, he just had to slash the price of his Manhattan penthouse to $98 million from $115 million. Yes, his ex-wife is still alive. But thanks to a li’l company Intercept Pharmaceuticals Inc, he just scored himself 200 million pick-me-ups. Read more »
According to Charlie Gasparino, Larry Leibowitz (far left) is going to fare pretty okay for himself upon bidding the NYSE adieu. Read more »