Write-Offs: 10.18.11

Author:: Dealbreaker
Updated:: Jan 14, 2019
Original:: Oct 18, 2011

$$$ Bank of America is “knocking it out of the park” with third-quarter revenue that beat analysts’ estimates by almost $3 billion, said Michael Holland, chairman of New York-based investment firm Holland & Co. The $28.7 billion in revenue “is a big number,” Holland said today. [Bloomberg]

$$$ “There is a myth that the Greeks don’t work many hours. This is a big lie," Chrysochoidis said. "The reality is that the Greek people work more than any other country in the European Union.” [CNBC]

$$$The Road To Business School [BW]

$$$ Los Angeles faces tens of millions of dollars in additional borrowing costs after the City Council told anti-Wall Street protesters it intends to cut ties with banks involved in financial wrongdoing, Administrative Officer Miguel Santana said. [Bloomberg]

$$$Are you smarter than a Wall Street Occupier? [Daily Intel]

$$$Goldman Losses Mean Cuts In Staff And Compensation [FINS]

$$$Apollo Co-Founder Joshua Harris Is Unanimously Approved to Buy NBA’s 76ers [Bloomberg]

$$$Ice cream man gets 3 and 1/2 years for selling drugs from truck [NYP]

Goldman Sachs banker accused of rape going to trial in April; Time running out for Greece; "Man Posed As Cop To Cut Into Fast-Food Line"; and more.

$$$ Third Point made $500mm on Greek bonds [FT] $$$ Knight Board Votes to Pursue Getco Deal [WSJ] $$$ Jefferies results beat estimates on higher fixed-income revenue [Reuters] $$$ In 2008, Tim Geithner knew that Libor was being manipulated for profit as well as for face-saving [FT] $$$ Instagram changed its mind on the policy that everyone got all mad over [Instagram, CNET] $$$ Portrait of Kevin Bacon Made Out of Bacon [Laughing Squid via ATK] $$$ Fortigent is looking for a chief investment officer in Rockville, Maryland [DBCC] $$$ Cerberus Weighed Gun Maker's Fate on Friday [WSJ] $$$ AmEx’s Chenault Said to Be Discussed for Treasury Post [Bloomberg] $$$ NYSE exec says exchanges moving closer to "kill switch" [Reuters] $$$ Here you can read about Nassim Taleb getting angry if you'd like [Chronicle of Higher Ed] $$$ Police make arrest in massive Quebec maple syrup heist [Globe & Mail]

$$$ Citigroup Said to Cut Investment Bankers’ Bonuses by 20% [Bloomberg] $$$ HSBC to Pay $249 Million in Foreclosure Settlement [WSJ] $$$ "For most of its history, Dell appears to have followed advice from investment banks — advice that ill-served long-term shareholders to the benefit of corporate executives. The company paid out billions of dollars to buy back stock, and only last year began to distribute some of the money to shareholders who chose to stick with it rather than bail out. It has spent more money on share repurchases than it earned throughout its life as a public company. Most of those repurchases were at prices well above current levels." [NYT] $$$ Matt Yglesias on the Fed: "There's no solving for the desired result. There's just a presentation of a scenario and then a bunch of chit chat and discussion of operational details." [Slate] $$$ Vibrator With 3 Balls Can’t Win EU Trademark, Court Says [Bloomberg] $$$ Levin Report on JPMorgan Whale Said to Fault Regulator [Bloomberg] $$$ Assured Guaranty Cut by Moody’s on Muni Insurance Outlook [Bloomberg] $$$ All Dutch securities have been dematerialized [FTAV] $$$ Chinese labour pool begins to drain [FT] $$$ A sonnet version of the Diff'rent Strokes theme song [VC]