Pali Capital said good night last month after former Bear Stearns finance chief Samuel Molinaro terminated talks to buy the place. Today Reuters has a piece on co-founder and chief executive, Bradley Reifler, who former employees and clients blame for the company's demise, claiming his "penchant for litigation helped destroy the bank he spent so many years building" (over the last ten years Reifler has apparently launched "dozens" of lawsuits against people and other companies). Those who used to work for the guy also seem to believe the fact that he could be a dick played a part in the firm's downfall ("He could make your life miserable," another former employee said. "He appointed himself head of everything, including compliance, and everyone reported to him," he said, adding, "If you crossed him, you didn't get a bonus"). And it is true that a hundred or so employees who left in the last year, which was cited as a "major reason" why Molinaro backed out of the deal. Many also believed Reifler spent too much money, and that the office and the firm in general "reeked of excess." It's all very sad! Reifler has apparently announced (on Twitter...) that he'll be "launching a new firm with 'non-criminal' partners" but things will never be the same. Pali Poker Nights, which featured dancers from the Rockettes and the Knicks? Those are done and while everyone's probably too angry to appreciate how good they had it, let us take two to remind you. Via some phenomenal pictures of PPNs past.
Richard Anthony, the Pali partner who made Pali Poker nights possible.