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Bloomberg: How Wall Street's Stomachs Fared During The Hurricane

...when Falcone and five LightSquared colleagues met over a meal of white-truffle pasta and Barolo at a Washington restaurant in January, they failed to come up with anything they could have done differently, according to a person who was there who asked not to be identified because the meeting was private.-- Falcone Waits For Icahn Doubling Down On Network When JPMorgan, which earned the most of any of the six banks over the four quarters, decided to thank employees for their performance this year, it sent 161,680 individually wrapped buttercream-frosted, chocolate chip, oatmeal-raisin and sugar cookies to retail branches and call centers in the U.S., U.K., Philippines and India.-- No Joy On Wall Street As Biggest Banks Earn $63 Billion Cooperman, 68, said in an interview that he can’t walk through the dining room of St. Andrews Country Club in Boca Raton, Florida, without being thanked for speaking up. At least four people expressed their gratitude on Dec. 5 while he was eating an egg-white omelet, he said.--Bankers Join Billionaires To Debunk 'Imbecile' Attack On Top 1% American International Group Chief Executive Officer Robert Benmosche, 66, a Kappa Beta Phi member who disclosed in October that he was undergoing treatment for cancer, was there. He looked energetic, the two attendees said. In 1930, the dinner was beefsteak. This year, the meal featured lobster salad, shrimp, pigs-in-a-blanket, lamb chops and pistachio ice cream.-- Wall Street Secret Society Kappa Beta Phi Adds Dealmakers With Lehman Rite Wall Street headhunter Daniel Arbeeny said his “income has gone down tremendously.” On a recent Sunday, he drove to Fairway Market in the Red Hook section of Brooklyn to buy discounted salmon for $5.99 a pound.--Wall Street Bonus Withdrawal Means Trading Aspen For Coupons The clam-juice cocktails at the private Stock Exchange Luncheon Club, where brokers lined up three deep at the raw bar, contained tomato juice, cooled water from boiled chowder clams, ketchup, celery salt and the option of a freshly shucked clam. Add vodka and they called it a Red Snapper.--How America Ceded Capitalism's Bastion To German Boerse Seizing Big Board As someone once said, you can find out a lot about a man or woman's character during moments of great crisis. Do they fall apart? Do they become shells of their former selves? Do the worst parts of them come out? Do they turn their backs on everything they supposedly once stood for? Or do they, even in moments of darkness, rise to the occasion and demonstrate the morals and values they held when times were good are the very same ones they choose to live by when times are bad? For Bloomberg News reporter Max Abelson, Hurricane Sandy was a test. Would he turn in an article containing few if any reference to the food people consumed during the natural disaster? Or would his commitment to bringing readers exhaustive details re: what his Wall Street subjects eat (see above, here, and here) burn ever bright, to the extent that sources and interviewees elaborating on their situation beyond provisions would find themselves cut off and told, "Just the food and drink, toots. I got a lotta calls to make"? Luckily for us, it was the latter. Herewith, an accounting of things stuffed down the gullets of Wall Street over the last two days: * Murry Stegelmann, Kilimanjaro Advisors: expensive wine, green tea. “I had to go to the wine cellar and find a good bottle of wine and drink it before it goes bad,” Murry Stegelmann, 50, a founder of investment-management firm Kilimanjaro Advisors LLC, wrote in an e-mail after he lost power at 6 p.m. on Oct. 29 in Darien, Connecticut. The bottle he chose, a 2005 Chateau Margaux, was given 98 points by wine critic Robert Parker and is on sale at the Westchester Wine Warehouse for $999.99. “Outstanding,” Stegelmann said. He started the day with green tea at Starbucks, talking with neighbors about the New York Yankees’ future and moving boats to the parking lot of Darien’s Middlesex Middle School. * Wilson Ervin, Credit Suisse: the most depressing breakfast ever. Erin...went to the bank’s office at 11 Madison Ave. afterward to work on evaluations of managing directors and financial regulation. He ate a lunch of Raisin Bran, coffee and a banana from the 7-Eleven downstairs, he said. * Pablo Salame, Goldman Sachs: sushi, the piece of which Abelson or his research assistant counted. He posted a picture of 21 pieces of sushi on a Twitter account in his name on Oct. 29. “Only in NYC, Seamless Sandy sushi delivery in TriBeCa, Monday 730 pm,” the post said. * Wilbur Ross, WL Ross And Co: a painting. “I was scheduled to come back Sunday night, and I decided not to, because everything during the week would be canceled anyway,” said Ross, chairman of private-equity firm WL Ross & Co. “I’m stuck in Palm Beach.” He stayed in touch with colleagues using a fax machine along with phone and e-mail. His Florida home includes a painting by Rene Magritte of petrified blue apples, an image that is also depicted on a custom-made Van Cleef & Arpels watch he owns, he told Bloomberg News this year. * JPMorgan employees: many of the culinary delights its cafeteria offers on a regular basis but NO DUMPLINGS. JPMorgan, which sent out more than a dozen hurricane updates to its employees featuring detailed weather maps, kept parts of its 270 Park Ave. cafeteria open yesterday. Danishes and scones were available near the salad bar, and the bank’s deli had sandwiches with grilled vegetables. The dumpling bar was closed. Wall Street Finds Sandy Silver Lining In Wine, Monopoly [Bloomberg] Related: Things People Have Eaten in the Presence of Bloomberg Reporter Max Abelson [Daily Intel]
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...when Falcone and five LightSquared colleagues met over a meal of white-truffle pasta and Barolo at a Washington restaurant in January, they failed to come up with anything they could have done differently, according to a person who was there who asked not to be identified because the meeting was private.-- Falcone Waits For Icahn Doubling Down On Network

When JPMorgan, which earned the most of any of the six banks over the four quarters, decided to thank employees for their performance this year, it sent 161,680 individually wrapped buttercream-frosted, chocolate chip, oatmeal-raisin and sugar cookies to retail branches and call centers in the U.S., U.K., Philippines and India.-- No Joy On Wall Street As Biggest Banks Earn $63 Billion

Cooperman, 68, said in an interview that he can’t walk through the dining room of St. Andrews Country Club in Boca Raton, Florida, without being thanked for speaking up. At least four people expressed their gratitude on Dec. 5 while he was eating an egg-white omelet, he said.--Bankers Join Billionaires To Debunk 'Imbecile' Attack On Top 1%

American International Group Chief Executive Officer Robert Benmosche, 66, a Kappa Beta Phi member who disclosed in October that he was undergoing treatment for cancer, was there. He looked energetic, the two attendees said. In 1930, the dinner was beefsteak. This year, the meal featured lobster salad, shrimp, pigs-in-a-blanket, lamb chops and pistachio ice cream.-- Wall Street Secret Society Kappa Beta Phi Adds Dealmakers With Lehman Rite

Wall Street headhunter Daniel Arbeeny said his “income has gone down tremendously.” On a recent Sunday, he drove to Fairway Market in the Red Hook section of Brooklyn to buy discounted salmon for $5.99 a pound.--Wall Street Bonus Withdrawal Means Trading Aspen For Coupons

The clam-juice cocktails at the private Stock Exchange Luncheon Club, where brokers lined up three deep at the raw bar, contained tomato juice, cooled water from boiled chowder clams, ketchup, celery salt and the option of a freshly shucked clam. Add vodka and they called it a Red Snapper.--How America Ceded Capitalism's Bastion To German Boerse Seizing Big Board

As someone once said, you can find out a lot about a man or woman's character during moments of great crisis. Do they fall apart? Do they become shells of their former selves? Do the worst parts of them come out? Do they turn their backs on everything they supposedly once stood for? Or do they, even in moments of darkness, rise to the occasion and demonstrate the morals and values they held when times were good are the very same ones they choose to live by when times are bad? For Bloomberg News reporter Max Abelson, Hurricane Sandy was a test. Would he turn in an article containing few if any reference to the food people consumed during the natural disaster? Or would his commitment to bringing readers exhaustive details re: what his Wall Street subjects eat (see above, here, and here) burn ever bright, to the extent that sources and interviewees elaborating on their situation beyond provisions would find themselves cut off and told, "Just the food and drink, toots. I got a lotta calls to make"?

Luckily for us, it was the latter.

Herewith, an accounting of things stuffed down the gullets of Wall Street over the last two days:

* Murry Stegelmann, Kilimanjaro Advisors: expensive wine, green tea.

“I had to go to the wine cellar and find a good bottle of wine and drink it before it goes bad,” Murry Stegelmann, 50, a founder of investment-management firm Kilimanjaro Advisors LLC, wrote in an e-mail after he lost power at 6 p.m. on Oct. 29 in Darien, Connecticut. The bottle he chose, a 2005 Chateau Margaux, was given 98 points by wine critic Robert Parker and is on sale at the Westchester Wine Warehouse for $999.99. “Outstanding,” Stegelmann said. He started the day with green tea at Starbucks, talking with neighbors about the New York Yankees’ future and moving boats to the parking lot of Darien’s Middlesex Middle School.

* Wilson Ervin, Credit Suisse: the most depressing breakfast ever.

Erin...went to the bank’s office at 11 Madison Ave. afterward to work on evaluations of managing directors and financial regulation. He ate a lunch of Raisin Bran, coffee and a banana from the 7-Eleven downstairs, he said.

* Pablo Salame, Goldman Sachs: sushi, the pieces of which Abelson or his research assistant counted.

He posted a picture of 21 pieces of sushi on a Twitter account in his name on Oct. 29. “Only in NYC, Seamless Sandy sushi delivery in TriBeCa, Monday 730 pm,” the post said.

* Wilbur Ross, WL Ross And Co: a painting.

“I was scheduled to come back Sunday night, and I decided not to, because everything during the week would be canceled anyway,” said Ross, chairman of private-equity firm WL Ross & Co. “I’m stuck in Palm Beach.” He stayed in touch with colleagues using a fax machine along with phone and e-mail. His Florida home includes a painting by Rene Magritte of petrified blue apples, an image that is also depicted on a custom-made Van Cleef & Arpels watch he owns, he told Bloomberg News this year.

* JPMorgan employees: many of the culinary delights its cafeteria offers on a regular basis but NO DUMPLINGS.

JPMorgan, which sent out more than a dozen hurricane updates to its employees featuring detailed weather maps, kept parts of its 270 Park Ave. cafeteria open yesterday. Danishes and scones were available near the salad bar, and the bank’s deli had sandwiches with grilled vegetables. The dumpling bar was closed.

Amazingly, Abelson also brought us the details of What Wall Street Wore during Sandy (Ervin headed into the office "wearing black water-repellent pants and a yellow raincoat" while James Gorman went in Tuesday "wearing blue jeans for the first time since he became CEO in 2010, according to a person who works with him") in what will hopefully be the start of a new series.

Wall Street Finds Sandy Silver Lining In Wine, Monopoly [Bloomberg]
Related: Things People Have Eaten in the Presence of Bloomberg Reporter Max Abelson [Daily Intel]

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How Can Wall Street Feel Alive Again?

As some of you may recall, there was a time not too long ago when you could work on Wall Street and be compensated in a way that made you feel special. Appreciated. Loved. Eight, nine, ten-figures of love. Now, obviously, not so much. But that is not what's eating the industry's most fragile spirits of late. They are fine taking pay cuts. They could care less about the money. What they're not fine with is having the rush, the intensity, the adrenaline-pumping fear that comes with, say, putting on a trade in which maybe the firm will make $1 billion or maybe it'll lose $10 billion, WHO KNOWS, IT'S ALL RELATIVE, I CAN'T FEEL MY LEGS, THAT'S WHAT MAKES IT SO EXCITING taken away from them. Take Sean George. He used to spend his days destroying company property and now, thanks to financial regulation, has had to get his kicks elsewhere. Sean George kneeled in the Church of St. Paul the Apostle in Manhattan. He wasn’t praying. A gash below his right brow bled into his eye and down his nose before a knee to his groin sent him to the floor. George, 39, head of credit-derivatives trading at Jefferies, was making his Muay Thai debut at the church June 22 in a sport that allows kicking, elbowing and kneeing. His eye was swelling shut by the time he lost in a split decision. It was the happiest he’s been all year, he said. “Right now at work I’m making less risk decisions -- and I enjoy taking risks,” George, who headed investment-grade credit-default-swap trading at Deutsche Bank AG before he joined Jefferies last year, said in an interview. “If you’re in it for the game and the fight, the game’s over and the fight’s over.” Risk is what drew George and the colleagues he respects to Wall Street, he said. He could bring in millions of dollars in a single month at his peak, and trading was so intense that during one credit-default-swap deal he smashed a phone against his desk, sending part of it three rows away, “one of the records for the best break,” he said. Ethan Garber's lost that tingly feeling in his plums. “There’s no sexiness, there’s no fun, there’s no intellectual intrigue, either,” said Ethan Garber, who ran proprietary credit-arbitrage portfolios for Credit Suisse Group AG and Bear Stearns Cos. “A lot of my friends who actually lingered for the last four years are all now getting fired anyway,” said Garber, 45, currently CEO of IdleAir, a Knoxville, Tennessee-based firm that provides electricity at truck stops. “The air is taken out.” Robert McTamaney has been reduced to doing his best impression of a whiskey-swilling, cigar-chomping newspaper man from the 1940's, who we assume addressed Bloomberg's Max Abelson as "toots" here. “The socks are higher, the skirts are longer,” said McTamaney, who helped run Goldman Sachs’s equities- trading business in Asia. “It’s like styles: They change, and you’ve got to change with it or be left behind.” Former King Street Capital and Bank of America trader Sam Polk isn't gonna lie, the worst part of Wall Street 2.0 is not being able to feel like a god by dropping $10,000 for bottle service on Wednesday nights, and sometimes even Thursdays. “You could be a 20-something trader three years out of school, able to go to any restaurant or club or ballgame on any night that you wanted, and it was totally paid for,” he said. “It was a tremendous feeling of power.” Michael Meyer is dying a slow, painful death. “The light at the end of the tunnel is dim,” said Meyer, now co-head of sales and trading at New York investment bank Seaport Group. Clearly, it's not pretty. But here at Dealbreaker we're about offering solutions, not whining about problems. How can these guys and girls replicate the feelings they once got by taking on risk on the job, if, unlike Sean George, getting kicked in the balls is not their thing? Drinking the carton of milk in the break room that's been sitting out for two days, telling the boss's wife it looks like she's gained a couple pounds, having unprotected sex with a junkie, shouting "You go girl!" at yourself in spin class after being kindly told to "Shut the fuck up" or else, and leaving dirty dishes in the sink all seem like good jumping off points but we can do better. These people need our help. Bloodied Trader Pines For Risk As Wall Street Retreats [Bloomberg]

Dartmouth Grads Still Into Wall Street, Despite One Man's Campaign Against "A Field That Sanitizes The Intellect And Offers Almost Nothing To Human Society"

Back in August, a Dartmouth student named Andrew Lohse made a simple request of his peers: to stop being whores for Wall Street. "Should landing jobs prestigious 16-hour-a-day jobs at some faceless hedge fund, where they'll learn about manipulating capital instead of imagining a freer and more just world be the goal of the valedictorians of Ivy League institutions," Lohse asked and then answered, "No matter how hard I try, I cannot think of more pathetic ambitions." Lohse charged the undergraduates to "do better" and by better he meant  resist being "pulled into what is essentially a vulgar and extortionate system of lending and predatory capitalism which is increasingly underwritten by what remains of the public’s coffers." Was Lohse's argument a persuasive one? Did the image of him "vomiting in my mouth" at the idea of his peers becoming financial services employees cause anyone to reconsider? Apparently, not so much. Wall Street’s allure may have dimmed for some of America’s sharpest young minds in recent years, but a quick look at the top of Dartmouth College’s class of 2012 shows that the appeal seems to remain strong. At its commencement on Sunday, Dartmouth recognized four valedictorians who graduated with perfect 4.0 grade-point averages. Three are headed to work on Wall Street at major investment banks, and one will go to the giant business consulting firm that advises them. “Certain people have the view where finance is perceived in a more negative light,” said David Rogg, one of the valedictorians, noting that there was an active chapter of the Occupy movement on Dartmouth’s campus. “But a lot of people still find it to be a very positive industry.” He has a job lined up at Goldman Sachs, as does another of the valedictorians, Jie Zhong; a third, Wills Begor, will go to Morgan Stanley. The other valedictorian, Glynnis Kearney, will work at McKinsey & Company. Mr. Begor said some of his peers’ interest in Wall Street had diminished, “but for me, it’s an extension of the academic challenges at Dartmouth, to learn about finance, which is something we don’t get exposed to at a liberal arts college.” Begor did add that his gig is "just for two years" and "has been accepted to Harvard Business School, starting in 2014," so perhaps Andy got under his skin a little. Finance Jobs Still Appeal To Graduates At Darmouth [NYT] Related: Bridgewater Accuser/Dartmouth Fraternity Brother-Cum-Reformer Surprised Find Himself Not Covered By Whistleblowing Protection Laws

Come Between Andrew Ross Sorkin And His Pita Chips, Take Your Life Into Your Own Hands

It's often been said, in profiles, conversations, and the like, that Andrew Ross Sorkin is the hardest working man in America, juggling several  jobs at any given time. Up until now, the ones we knew about were 1) Dealbook editor 2) Squawk Box host and 3) author. Today we've learned of yet another title he holds: (self-described) Human Garbage Disposal. "If food is in front of me, I have to eat it," Sorkin told Grub Street, while taking part in its "New York Diet" series, an accounting of one person's food intake over a given week. From March 2 to March 7 we get to see ARS's appetite in action, destroying everything in its wake. Yogurt (Fage peach), his children's chicken nuggets, Chinese food, coffee ice-cream, tomato soup, mushroom soup, peanut butter brownies, turkey sandwiches, margaritas, Red Bull, oysters, Muscle Milk, pretzels, steak, salmon, Chirpin' Chicken, sweet-potato fries. It's actually quite mesmerizing. And that's just what he consumes for sustenance. Here's what he goes weak in the knees for. Anything that came out of a deep-fryer: "...we ended up at Five Points where I had two spicy margaritas and ruined [my] workout within in twenty minutes. I also had a spinach salad, rockfish, and a chocolate brioche bread pudding and apple crisp to die for. Give me anything baked or fried and ... forget it. Donuts, Glazed: "All is well in the world, until someone brings Dunkin' Donuts to theTimes office. No will power around glazed doughnuts. I could eat a whole table of them. They're classic and timeless, without being too sugary and complicated." Bread pudding, which he'll eat off the plate of a source: "In between MSNBC and the Times, I went to lunch with two venture capitalists at Michael's. Their choice, not mine. I like it there because that's how people know you haven't died yet. Ate salmon with mustard and sorbet for dessert. Okay, the venture capitalists offered me some bread pudding, and I got all in on that, too." His Stacey's Pita Chips. Do not get him started.: "Now I really go off the rails at home. It starts with a glass of red wine and half a bag of Stacey Chips. Then I eat more, but with hummus. They're the greatest chips in the history of all chips. When I was writing my book three years ago, I'd go to a bodega at eleven o'clock at night for a liter of Diet Coke, a couple beers, and my Stacey Chips." Andrew Ross Sorkin Will Eat Anything You Feed Him, Especially If It Is Baked or Fried [Grub Street]