Write-Offs: 07.10.12

$$$ For Some PFG Customers: 'It's MF Global All Over Again' [WSJ] $$$ Diamond Accused Of Lying After FSA Releases Letter [Bloomberg] $$$ Spain pressed to inflict losses on savers [FT] $$$ Harvard JD/MBAs mostly go into business, rarely into law, almost never into presidenting [NYT] $$$ Bring Back the General Manager [HBR] $$$ Yoga Instructor Fired From Gig at Facebook HQ After Telling Employee Not to Check Facebook During Class [Gawker] $$$ IPOs were filed today for companies named Barking Applications Corporation and Galt Petroleum, Inc. [EDGAR] $$$ A private equity firm in Greenwich is looking for an investment analyst [DBCC] $$$ Fed Should Raise Interest Rates to 2-3 Percent: Einhorn [CNBC] $$$ Blackstone Aims to Shed U.S. Office Portfolio [WSJ] $$$ Passport liquidates materials fund [AR+Alpha] $$$ Fox Business talking head used to work at PFGBest, is sad [MarketBeat] $$$ AMR To Consider Mergers After Studying Financial Outlook [Bloomberg] $$$ The Chaps Olympiad features English fops jousting with umbrellas on bicycles [Telegraph via The Awl]

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Updated:: Jan 14, 2019
Original:: Jul 10, 2012

$$$For Some PFG Customers: 'It's MF Global All Over Again' [WSJ]

$$$Diamond Accused Of Lying After FSA Releases Letter [Bloomberg]

$$$Spain pressed to inflict losses on savers [FT]

$$$ Harvard JD/MBAs mostly go into business, rarely into law, almost never into presidenting [NYT]

$$$Bring Back the General Manager [HBR]

$$$Yoga Instructor Fired From Gig at Facebook HQ After Telling Employee Not to Check Facebook During Class [Gawker]

$$$ IPOs were filed today for companies named Barking Applications Corporation and Galt Petroleum, Inc. [EDGAR]

$$$ A private equity firm in Greenwich is looking for an investment analyst [DBCC]

$$$Fed Should Raise Interest Rates to 2-3 Percent: Einhorn [CNBC]

$$$Blackstone Aims to Shed U.S. Office Portfolio [WSJ]

$$$Passport liquidates materials fund [AR+Alpha]

$$$ Fox Business talking head used to work at PFGBest, is sad [MarketBeat]

$$$AMR To Consider Mergers After Studying Financial Outlook [Bloomberg]

$$$ The Chaps Olympiad features English fops jousting with umbrellas on bicycles [Telegraph via The Awl]

$$$ Rick Santorum drops out of the presidential race [WaPo] $$$ Alcoa Posts Surprise Profit After Aluminum Orders Climb [Bloomberg] $$$ Hedge funds lag the market, again [Fortune] $$$ Dan Loeb has convinced Yahoo that it's time to move forward with some buzzwords [AllThingsD] $$$ "The conventional wisdom that Facebook sees Instagram as competition is not the whole story. It may also see Instagram as particularly advertiser-friendly content that its users currently have trouble producing. Think of it as a $1 billion way to make your parents’ status updates more interesting." [Reuters / Ryan McCarthy] $$$ Interested in behavioral economics? Then don't buy Karl Daniels's Fast and Slow Thinking. [Language Log] $$$ Mitt Romney Is Doing ‘Gay Voice’ in This Video, Says Professional Gay Voice Expert Bob Corff [Gawker] $$$ How would you like to be a portfolio management associate at Starwood Capital in Greenwich? [DBCC] $$$ NY pushes objection to BofA $8.5 billion mortgage pact [Reuters] $$$ "Court: Checking Facebook on Your Work Computer Isn't a Crime." Other courts disagree. [WSJ Law Blog] $$$ "For the first time in its 4 1/2 year life, a program on the Fox Business Network has topped a show on CNBC for an entire week in both Total Viewers and younger viewers." [TVNewser via Talking Biz News] $$$ What Do Europe's Pirate Parties Stand for? [Bloomberg] $$$ This happened [BI] $$$ Mayonnaise Store Now Open in Prospect Heights [Brownstoner] $$$ 5-year-old brings heroin for 'show and tell' [Stamford Advocate]

$$$ Ireland calls vote on European fiscal pact [FT] $$$ Ray Dalio’s Pure Alpha hedge fund made $13.8 billion for its investors last year, while John Paulson lost clients almost $10 billion after an unsuccessful wager that the U.S. economy would recover, according to a report by LCH Investments NV [Bloomberg] $$$ Apple joins the $500bn club [FT] $$$ Hot Item: Pre-IPO Facebook Shares [WSJ] $$$ Too many high frequency traders use the same part of the second [Grumpy Economist] $$$ No one will sell Becky Quick a minivan [Fortune] $$$ A global asset manager is looking for a portfolio manager; compensation is "astronomical" [DBCC]

$$$ Europe Considers a Spanish Bank Rescue [Bloomberg] $$$ S&P says U.S. to avoid "fiscal cliff", risks remain [Reuters] $$$ "The fact is that if UBS ended up losing anywhere close to $350 million on Facebook stock, it has no business being in the equity capital markets at all." [Felix Salmon] $$$ Groupon is Now Giving Groupons ... for Groupon [NYO] $$$ Who cheats more, bankers or politicians? Disappointingly, bankers, according to a survey conducted in bars [Wonkblog] $$$ John Carney takes the pulse of Wall Streeters "waiting for a fourth martini at a once-fashionable midtown bar," "at a tavern along a cobble-stoned street in the financial district," "[a]t Stone Rose in the Time Warner center" and "having a drink with a colleague at Emmett O’Lunney’s" [NetNet] $$$ Are you a credit risk specialist? Any interest in analyzing credit risk for the National Rural Utilities Cooperative Finance Corporation in Dulles, VA? [DBCC] $$$ Citi Won't Request Stock Buyback This Year [WSJ] $$$ Gupta ‘Highly Likely’ to Take the Stand, Lawyer Says [WSJ Law Blog] $$$ After reading a passage about the prospect of Goldman buying a bank, Mr. Naftalis asked the chief executive if he had read the portion correctly. “Yes,” replied a smiling Mr. Blankfein, who glanced from the jury to the judge. “You read it well.” Judge Jed Rakoff, prone to making jokes during trial himself, belted out a laugh, and the courtroom followed. [DealBook] $$$ This year’s Nathan’s Hot Dog Eating Contest is expected to be even more heated than usual now that ESPN, which televises the July 4 competition, has pushed the start time later to accommodate the sports network’s first-ever coverage of Wimbledon. ... Major League Eating president George Shea said he expects the later 3 p.m. start time to also drive up ratings for the glutton-fest, which attracted 1.9 million live viewers last year. But he admits the mid-afternoon heat “should make it much more difficult” for the dog devourers to break Joey Chestnut’s 2009 world record of 68 hot dogs and buns in 10 minutes. “Heat causes the buns to crisp up more and the dogs to expand, making a run at the record nearly impossible,” said professional eater and perennial Nathan’s contestant Jason “Crazy Legs” Conti. [NYP] $$$ Vampire High Priest Loses Religious Civil Rights Case [ATL]

$$$ After Knight Loss, SEC Looks to Tighten Trading Controls [WSJ] $$$ Knight Is Said To Have Spurned $500 Million Citadel Loan [Bloomberg] $$$ Standard Chartered questions New York action [Reuters] $$$ Gary Gensler wants to replace Libor with something transaction-based [NYT] $$$ Former SIGTARP Neil Barofsky took questions at Gawker [Gawker] $$$ "Please explain your rationale for the rainbow." [BI] $$$ Genworth financial is looking for a senior credit analyst in Stamford to cover private placements [DBCC] $$$ S&P Cuts Greece's Outlook to 'Negative' [CNBC] $$$ SkyBridge’s Scaramucci: Asia Is His Next Frontier [II] $$$ Facebook ventures into online gambling [FT] $$$ Gold Trove Found At Israel Castle Reveals Crusaders’ Forex Moves [Bloomberg] $$$ The top floors of the Woolworth Building will apparently become luxury condos [NYT]

$$$ "Bernanke Signals Readiness to Do More" [WSJ] $$$ "Judgment Days Arrive for Euro Crisis" [WSJ] $$$ Spain To Recapitalize Bankia After 4.45 Billion-Euro Loss [Bloomberg] $$$ Nomura’s Failed Global Ambitions [DealBook] $$$ Quebec Whodunit: 1/4 of Province’s Syrup Reserves Go Missing [WSJ] $$$ That’s it for us today. We’re off Monday for the holiday, enjoy the long weekend and see you on Tuesday! $$$ A global investment bank is looking for an experienced metals options trader in New York [DBCC] $$$ Facebook hits new low after price target cuts [Reuters] $$$ Here is some hedge fund Weltschmerz [FT] $$$ Here is a really depressing story about student loans [NYT] $$$ Some people still don't like PowerPoint [BBW] $$$ "In general, rabbits preferred the higher resolution of the MacBook, whereas squirrels favored the larger screen of the Toshiba. Chipmunks were too hyperactive to linger around either device, even though I sprinkled the keyboards liberally with birdseed, which chipmunks seem to enjoy far more than birds do. I do not recommend this practice ..." [NYT]

$$$ Paul Singer wants Mitt Romney to regulate banks more [FT] $$$ JPMorgan, UBS Said Among Banks Queried In Libor Probe [Bloomberg] $$$ Apollo Said To Seek Up To $12 Billion For Flagship Fund [Bloomberg] $$$ Consider taking trading advice from a 23-year-old who day-trades equities in Dallas for his own account and talks about it with Business Insider [BI] $$$ Police Seize Pimping Rules During Raid [TSG] $$$ Shitterton named most unfortunate place name in UK [Scotsman] $$$ Legg Mason is looking for a US product strategist in Baltimore [DBCC] $$$ Standard Chartered eyes joint deal after backing down in U.S. [Reuters] $$$ Jana Disappointed With Agrium Talks [WSJ] $$$ The Harvard Business Review is pro-reading [HBR] $$$ Locals faced with medieval tax to pay for castle renovations [DutchNews] $$$ Lifeboats kill more people than they save [Brendan Koerner]

$$$ Greek left attacks ‘barbarous’ austerity [FT] $$$ Facebook Facebook Facebook Facebook [WSJ/FT/CNBC/Reuters] $$$ Freddie Mac Chooses CEO [WSJ] $$$ After McClendon's trades, Chesapeake board gave blessing [Reuters] $$$ Tim Sykes is still doing things [BetaBeat, earlier] $$$ "A bank robbery, in our imagination, provides the robber with a one-off high-risk opportunity to become incredibly wealthy, in comparatively guilt-free fashion: No one but the corporation loses any money, so, what the fuck? That used to be the case, but due to inflation — as well as a host of other factors — it no longer is." [The Billfold] $$$ CIBC Global Asset Management is looking for a high yield VP in Toronto [DBCC] $$$ House Republicans are complaining that the Fed is helping the economy too much, causing House Republicans not to want to help the economy [Real Time Economics] $$$ Could a Stock ETF Cloak Its Portfolio? [WSJ] $$$ Green Mountain Chairman Replaced After Stock Sales [WSJ] $$$ Nomura is growing headcount [Bloomberg] $$$ “It lived alongside our ancestors, and it probably ate them,” said Christopher Brochu, an associate professor of geoscience at the University of Iowa and a study author. “We don’t actually have fossil human remains with croc bites, but the crocs were bigger than today’s crocodiles, and we were smaller, so there probably wasn’t much biting involved.” [Bloomberg]

$$$ SEC Opens Review of J.P. Morgan [WSJ] $$$ $$$ Chesapeake Energy: How To Lose $1 Billion In 46 Minutes [MarketBeat] $$$ Facebook's IPO already oversubscribed [Reuters] $$$ "The new lead investigator at the U.S. Securities and Exchange Commission's watchdog office has been placed on administrative leave after he talked openly about wanting to carry a concealed firearm at work and some employees complained he was a physical threat, according to people familiar with the matter." [CNBC, related] $$$ Are Dads the New Moms? [WSJ] $$$ An elite credit focused hedge fund is seeking a trade assistant for its CDS desk in New York [DBCC] $$$ Avon Board Said to Study Coty Diligence Request [Bloomberg] $$$ This is a pretty cool idea for shareholder lawsuit settlements [M&A Law Prof Blog] $$$ John Travolta's lawyer calls third claim of sexual advances 'ridiculous' [NYP] $$$ Failed Buffett dinner auction still draws donation [CNBC]

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