But you can imagine what it would’ve been like if he had, right? [Slurring] “We’re sooo preggo with Euro debt it’s not even funny. Might have to use client funds for collateral. I’m serious.” [Spills wine on guy to his right, attempts to wipe it up before having hand shoved away.] Continue reading »
steak
The short version: suck it. The longer version: Continue reading »
Patterson Calls Off Tax On Non-Resident Hedge-Fund Managers– WHAT WILL JODI RELL DO NOW?
By Bess Levin
As has been previously mentioned, Connecticut Governor Jodi Rell wants a piece of New York-based hedge fund managers who don’t reside in the state. Earlier in the month she saw an opening when Albany proposed laying a $50 million tax on those managers only doing business in the state and she pounced. She started off by sending them a “simple yet heartfelt message” (which was “Connecticut welcomes you”). She then upped the ante last week by inviting them to not just a steak dinner but “an intimate dinner” (yes, intimate, now). “We have much to discuss! The meeting will be intimate, direct and private,” she said, maybe overselling. She set the date for August 2 and while it wasn’t clear whether anyone had RSVP’ed, Rell could just feel it was going to be a big night. Now, because he is a jerk, David Patterson has all but ruined Rell’s plans. Continue reading »
As you may have heard, Albany is currently debating whether or not to lay a $50 million tax upon the asses of certain hedge fund managers. Though nothing is set it stone yet, said managers are none too pleased with the proposal and have aired their grievances in public. Sensing friction on the home-front, Connecticut Governor Jodi Rell has jumped all over the situation. Earlier this month she conveyed, in her own words, a “simple yet heartfelt message” (which was “Connecticut welcomes you”) and now she’s hoping to win the boys over with raw meat, having invited Timothy Selby, president of the New York Hedge Fund Roundtable, and all of his friends, to an “intimate” steak dinner. Continue reading »
Two months ago, in light of the possibility that the majority of your bonuses would be paid out in stock this year, Smith & Wollensky took out the following ad in the New York Times. Continue reading »
Severance: it’s means you got canned but if you got somea that way back, like circa Bear going down, before the next level shit of everyone getting axed, it was safe to assume you a) got a decent amount it and b) weren’t looking for a new job in the scariest environment imaginable. So, it was only natural that you didn’t freak out or take the first new gig you were offered, whether or not involved standing on a street corner. Also? You probably didn’t change your lifestyle much, right? If you answered yes to any of the above, Paul Joegringer knows how you feel:
Paul Joegriner hasn’t worked since March 2008, when he was laid off from his $200,000-a-year job as chief executive officer of a small bank. But you wouldn’t know it by appearances. His wife, Marzena, shuttles their two young children to private school every morning. The family recently vacationed in Virginia Beach, Va., and likes to dine on Porterhouse steaks. Since losing his job, Mr. Joegriner, 44 years old, has had several offers. He’s turned each down in hopes of landing a position comparable to what he held before. By Mr. Joegriner’s own calculations, the family will be out of money in six months if he doesn’t find work. “It will be D-Day,” he says. “But on the outside, no one has any idea that we’re in trouble.”
Except for anyone reading the Journal today. Moving on, Chuck Hipsher can also empathize:
He met his wife at the ad agency, and the two had a $40,000 wedding. Kelly Hipsher, 32, was laid off in October 2007 and found out she was pregnant in February 2008. A week later, Mr. Hipsher’s pink slip followed. Two months after that, the out-of-work couple moved to Greenville, S.C., to be closer to family and get a fresh start. Together, they had received about $60,000 in severance. “Now we have $600 to our name,” says Mr. Hipsher. Although their rent was cheaper, Mr. Hipsher says the family continued to spend like before. They moved with three cars — two BMWs and a Chevy Silverado. They continued to buy cases of $36-a-bottle wine. They spent $250 a month on a cleaning lady, and Mr. Hipsher dropped $50 a week on flowers for his wife. The couple still dined out regularly.
As can an asston of other people, apparently:
Here at Dealbreaker we like to get to know our accused criminal subjects on a more personal level. Obviously, this involves checking them out on Facebook. While the supposed ringleader of the today’s scam, Zvi Goffer, has yet to accept our friend request, Emanuel Goffer (Zvi’s younger brother), one of the fourteen lucky ones charged today, helpfully counts himself among one of the last five people on earth with completely public profiles (at least for the next few minutes or so). EG’s interests include “Wall Street, Money, Trading, Steak,” his favorite quote is one by Warren Buffett that goes “It takes 20 years to build a reputation and five minutes to ruin it– if you think about that, you’ll do things differently,” and he’s a member of the group “Traders who need a hug.”
A hot steak tip, that is. Been searching high and low for a nice piece of meat on the cheap? Lady MacMadoff has apparently been telling Upper East Side passersby that Donohue’s on Lexington “has a great steak special on Thursdays.” Meaning she’s either angling for the soon-to-be vacant Frank Bruni job, or, and this is more likely, a waitressing gig.
