Earlier this morning, Raj Rajaratnam’s 7-man legal team led by attorney John Down gave its final remarks in the insider trading case. While the Galleon founder is, of course, innocent until prove guilty, much of the evidence brought by the prosecution has made him look prettay prettay prettay bad, including but not limited to recordings of Raj complimenting Danielle Chiesi on how she “played” a tech exec into giving her material non-public information and one of him telling a friend he knew to buy shares of a company because “one of our guys is on the board,” as well as testimony from a former McKinsey exec that Raj paid him $1 million for his tip about AMD’s acquisition of ATI and the previously undisclosed fact that the defense’s big witness, Richard Schutte, was gifted with a $15 million investment in his hedge fund by the Rajaratnam family two weeks prior to speaking glowingly of Raj. How did Dowd explain all that in his wrap-up? It’s pretty simple, really. Everyone who said something that suggested his client was guilty is a liar. Read more »
Venture Capitalist Chris Burch Has The Audacity To Think Anyone Is Buying His Reason For Putting A 10-Foot Tall TV In His Hamptons BackyardBy Bess Levin
Christopher Burch is a venture capitalist (and ex-husband of designer Tory Burch) who’s got a Southampton vacation home and a dream: to build a 10-foot tall, 16-foot wide TV in his backyard. The contraption- which will be designed to last at least a decade, be positioned so it’s in view of the master bedroom, and come outfitted with a remote-controlled door in the event of rain- is so big Burch must gain approval from a zoning board, which his neighbors are trying to block. They’re pissed, as people tend to get over such things. “I’m totally against it,” shared Jonathan Foster. “It’s a shame when people have that kind of money,” Keith Tuthill said. Their fury, however, is misplaced. What their gears should be grinded over is the story Burch is trying to feed them re why he needs this TV.
Scott Casselman, a rep for the screen’s maker, Multimedia LED, insisted that the TV will not be used to create the ultimate man-cave — it would be put solely to the highbrow pursuit of displaying images of famous art works.
RIGHT. Read more »
Andrew Montalenti is a former Morgan Stanley programmer. He’s also a rapeboredom survivor who after years of fear and shame feels strong enough to speak out and tell the world what was done to him. In 2006, Montalenti took a job with the bank as a software engineer after graduating from NYU. A friend had vouched for MS, telling Montalenti it was a great shop and that he “really liked it there.” And at first, Drew did too. The project he worked on was “exciting,” he liked the people there, it was great. But then something happened. Something so dark and so harrowing to this day it’s even difficult to speak of. I’m actually getting a lump in my throat as a type this, as I’m sure Monts did when telling it. In fact, hold on. Let’s give him a second to collect himself. Okay. Here’s what happened. (Please, do not read unless you’ve got a strong stomach because it gets quite graphic.)
But soon the work grew redundant, Mr. Montalenti said, and the problems he was asked to solve as part of his day-to-day responsibilities started to seem technically uninteresting. Like many other creatively inclined, intellectually ambitious programmers who took high-paying jobs on Wall Street after college, Mr. Montalenti found himself disillusioned and restless.
It’s truly astounding that no one has ever taken Morgan Stanely to task for this. Disgusting even, that they could get away with treating an employee in such a manner. It’s one thing to, for instance, insert foreign objects into an employee’s ass, piss in his mouth and and force him to wear women’s panties but failing to stimulate his mind is quite another. The sad thing is it’s an epidemic not just exclusive to MS. Up and down Wall Street, there are tens if not dozens of programmers being degraded in this fashion on a daily basis. Read more »