October 26, 2021
Updated:
Original:

Write-Offs: 12.23.11

Author:

$$$ Muni Bonds: A Disaster That Wasn't [WSJ]

$$$The trader who is killing it at Cohen’s $14 billion SAC Capital Advisors this year is Gabriel Plotkin. The portfolio manager, who specializes in consumer products and the gaming and lodging industry, is one of the top producers this year at Cohen’s hedge fund, say several people familiar with the Stamford, Conn. hedge fund. Plotkin, who joined SAC Capital in late 2006 from North Sound Capital, is emerging as one of Cohen’s most reliable money men. [Reuters/Matthew Goldstein]

$$$Owl Creek Falls 13% [Dealbook]

$$$ "Volkswagen AG’s BlackBerry-wielding employees now get a break at the end of the work day from the constant allure of the Research In Motion device’s blinking red light. Yielding to demands from its works council, Europe’s largest carmaker agreed to stop its e-mail server from routing messaging traffic to the smartphone 30 minutes after a shift and resume half an hour before the next day begins. The accord affects about 1,150 employees in Germany who use the device and are covered by collective labor agreements, the Wolfsburger Allgemeine Zeitung reported." [Bloomberg]

$$$Happy Festivus! [NYDN]

$$$That’s it for us today. We hope everyone has a great break, celebrating the birth of Christ, airing your grievances at all the people you've got problems with, or however you'll be spending your time. Very abbreviated scheduled next week starting Tuesday, with exceptions made for breaking news such as Lloyd announcing he's retiring to start in a Broadway revival of West Side Story, the surprise appearance by a much-loved hedge fund manager playing Kris Kringle at your Christmas Eve party (and getting thrown out for snapping reminding him Santa drinks milk, not champagne), or Wilbur Falcone ringing in the New Year by hopping in his Bronco and leading the NYPD on a high-speed chase.

$$$Ex-Galleon Manager Peter Swartz to Start Hedge Fund [Bloomberg]

$$$ How They Did It: The Promoter, The Payoff, The Pump And The Dump [Roddy Boyd]

$$$ Overpriced or Right-Priced? Drunk on Weill Sale, Lower Floor 15 CPW Spread Wants $35 Million [NYO]

$$$Don’t Ask Ron Paul About His Racist Newsletter [Daily Intel]

$$$U.S. Hog-Breeding Herd Increased on Improved Profit Outlook [Bloomberg]

$$$ Cincinnati Ben-Gals cheerleader and Northern Kentucky teacher Sarah Jones, who gained national attention by suing a gossip website that claimed she was promiscuous, is now the subject of two investigations...What law enforcement officials and educators will not say is what the 26-year-old Jones has been accused of doing. [NKY]

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$$$ Fed Is 'Playing a Game With Us:' Pimco's Gross [CNBC] $$$ Bundesbank steps up pressure on Draghi [FT] $$$ Broker departures accelerate at Merrill Lynch [Reuters] $$$ The head of credit trading at Credit Suisse has been fined £210,000 for disclosing confidential information about a forthcoming €2.5bn bond issue after inviting a UK fund manager to “play charades” and guess the identity of the issuer. Nicholas Kyprios encouraged a fund manager who had been invited by Credit Suisse to a roadshow in November 2009 for an unnamed company to guess the issuer, using phrases like “you’re getting warmer”, the Financial Services Authority said. [FT] $$$ How would you like to be a Fixed Income Business Management Analyst for BlackRock in New York? [DBCC] $$$ Goldman Hires a New P.R. Chief $$$ Euro Zone Split over Financial Transaction Tax [Der Spiegel] $$$ Fred Wilpon's lawyers have planned a whole range of distractions for their Madoff trial [WSJ, related] $$$ Robert Lacoursiere, the Paulson & Co. partner who oversaw the $23 billion hedge fund’s team of banking analysts, quit last week after four years to start his own fund, according to a person with knowledge of the matter. [Bloomberg] $$$ Manhattan madam's 'sidekick' turns herself in, released on $100K bail [NYP]

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Write-Offs: 03.22.13

$$$ Inside a Star Hedge Fund: Lots of Big Bets, Built Fast [WSJ] $$$ Fed pushes banks to ignore rivals when setting bonuses [Reuters] $$$ JPMorgan Board Backs CEO Dimon as Chairman, Pays Zames More [Bloomberg] $$$ The Senate Drafts the SEC's Case Against JPMorgan [BBW] $$$ "A J.P. Morgan Chase employee climbed onstage at a black-tie dinner held on Wall Street Thursday night and accepted an award on behalf of the embattled bank for 'best crisis management.' ... Kathy Hu, an executive director in J.P. Morgan’s investor relations department, accepted the award and quipped: 'Can I just say, "Crisis? What crisis?"' J.P. Morgan beat out nominees Chevron Corp., which struggled with a refinery fire last year, and St. Jude Medical Inc., which battled heart-device problems." [Deal Journal] $$$ Pope calls Argentine kiosk owner to cancel paper delivery [CNA] $$$ Hey, Let Harvard Alumni Have Their Fun This Morning [DI] $$$ Deutsche Bank mulls raising fixed pay to counter EU bonus rules [Reuters] $$$ Judges’ Spat Strikes a Chord Among Deal Makers [DealBook] $$$ "Now some distressed debt investors get to find out what exactly it is you buy when you buy American-issued debt in a company incorporated in the Cayman Islands and doing business in China. I suspect the answer will be 'not much.'" [DealBook] $$$ "Henry Blodget is, in all seriousness, an artist of the internet whose methods should be studied and analyzed for future generations." [Gawker] $$$ "Finally I should note that the rectal gonorrhoea is the reason for my odour." Investment research! [Bronte Capital]