Not Everyone Thrilled With Rick Kimball's Involvement In Hangover Prevention Company

Last month, we learned that at some point over the summer, Richard Kimball Jr. had left Goldman Sachs. Not knowing his plans, at the time we speculated he was either starting his own hedge fund, as former bankers, particularly ones who've been partners at Goldman, tend to do, or designing a line for La Perla, as people whose adult pool parties and clothing-optional Halloween gatherings that enrage the neighbors also tend to do. Today, however, we were informed that we were wrong on both counts. While owning a hedge fund or designing lingerie seem like they would fall in Kimball's wheelhouse, his new gig is actually more perfect for him than anything would could have imagined. 'Cause when one thinks of Rick Kimball Jr, one thinks PAR-TAY ANIMAL. And when you're a par-tay animal on the level of The Kimballer, you need to take important steps to ensure the party don't stop. Safeguards, if you will. One reason often cited by people who've been engaging in some hard partying for "never doing that again" is the desire to not suffer crippling hangovers the next day. But what if Rick Kimball told you you could party like no one was watching without ever waking up to another hangover again? Would that sound like something you'd be interested in? Because what we're saying is: Rick Kimball is currently running a hangover prevention company.*
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Last month, we learned that at some point over the summer, Richard Kimball Jr. had left Goldman Sachs. Not knowing his plans, at the time we speculated he was either starting his own hedge fund, as former bankers, particularly ones who've been partners at Goldman, tend to do, or designing a line for La Perla, as people whose adult pool parties and clothing-optional Halloween gatherings that enrage the neighbors also tend to do. Today, however, we were informed that we were wrong on both counts. While owning a hedge fund or designing lingerie seem like they would fall in Kimball's wheelhouse, his new gig is actually more perfect for him than anything would could have imagined. 'Cause when one thinks of Rick Kimball Jr, one thinks PAR-TAY ANIMAL. And when you're a par-tay animal on the level of The Kimballer, you need to take important steps to ensure the party don't stop. Safeguards, if you will. One reason often cited by people who've been engaging in some hard partying for "never doing that again" is the desire to not suffer crippling hangovers the next day. But what if Rick Kimball told you you could party like no one was watching without ever waking up to another hangover again? Would that sound like something you'd be interested in? Because what we're saying is: Rick Kimball is currently running a hangover prevention company.*

And although we love that this is a thing that is happening, others are less than pleased. Specifically, some shareholders of Mercy** (which include Gwyneth Paltrow, who sung the drink/company's praises to her Goop subscribers last year and basketball player Jared Jefferies), in which Kimball initially invested in October 2010 and became chairman on April 26, 2012. Frosting some people's cookies is the belief that Kimball is attempting to "take over the company" at the expense of common shareholders, some of whose gripes include the fact that:

1. The current CEO, Luc Tomasino, who was brought in back in April 2011, is an old friend of Kimball's who a person familiar with Mercy says had no previous "beverage experience" prior to being hired.

2. The board is proposing moving the incorporation to Delaware, increasing outstanding shares from 2.6 million to 30 million, raising the amount of convertible promissory notes it can sell from $2.5 million to $4.5 million, and changing by-laws so that only the CEO or board, but not shareholders, can call special meetings.

3. All of the above will is scheduled to be voted on tomorrow, but based on the concerns by some, a company called "The Shareholder Forum" was brought in to review the situation, and it has concluded:

4. A conference call to discuss concerns was held today which some but not all shareholders were invited to participate in; "Sure, sue the company" was said to be a response by Kimball to one question.

Based on all that, at least a handful of shareholders are hoping tomorrow's vote will not take place. Regardless of what happens, if you're partying this weekend, considering picking up some Kimball Juice!

Drink Mercy [Mercy]
December 3, 2012 Forum Report; Defining Issues for Voting Decisions at Special Meeting [SF]
November 19, 2012; Notice of Special Meeting and Proxy Statement [SF]
*From the "How it works" section of its site:
A. Relax, Have fun, Celebrate
B. Make your last drink a can of Mercy, one for every three to five drinks
C. Wake up ready to take the day on
**AKA "Neu Industries"

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Leon Cooperman's Beef With President Obama Involves An Unsolicited Copy Of His 14 Year-Old Granddaughter's Self-Published Memoirs And Not One Handwritten Thank-You Note In Return

Last November, hedge fund manager Leon Cooperman penned an "Open Letter To The President Of The United States of America," in which he detailed the many ways Barack Obama was pissing him off. The Omega Advisors founder accused the President (and his "minions") of engaging in class warfare, expressed disbelief that he could attack "capitalists who...fill store shelves at Christmas" and still sleep at night, and advised Obama to "eschew the polarizing vernacular of political militancy," lest he lose* Cooperman's vote the next year.  While LC says that he received a major outpouring of support for his words ("[he] keeps a bulging manila folder of congratulatory notes in his office"), others were less than pleased at what they saw as a guy who actually has done pretty okay under Obama lashing out because his feelings were hurt on the occasions the president was perceived to have a "tone" in his voice when discussing the mega-wealthy ("If I knew where you lived, I’d put a bomb in your car," one person wrote Cooperman to say). Similarly, Cooperman's suggestion, on at least two occasions, that America should be worried about the startling parallels between Obama's rise to power and that of Adolf Hitler,** was met with mixed reviews, including one by his wife in which she called him a "schmuck." And while some*** have found it preposterous that Cooperman would paint himself as a victim of Obama, their astonishment speaks to not knowing the whole story, i.e. exactly what this man- no, this monster- did to Leon. Last July, before he had written the letter, Cooperman was invited to the White House for a reception to honor wealthy philanthropists who had signed Bill and Melinda Gates and Warren Buffett’s Giving Pledge, promising to donate at least fifty per cent of their net worth to charity. At the event, Cooperman handed the President two copies of “Inspired: My Life (So Far) in Poems,” a self-published book written by Courtney Cooperman, his fourteen-year-old granddaughter. Cooperman was surprised that the President didn’t send him a thank-you note or that Malia and Sasha Obama, for whom the books were intended as a gift and to whom Courtney wrote a separate letter, didn’t write to Courtney. (After Cooperman grumbled to a few friends, including Cory Booker, the mayor of Newark, Michelle Obama did write. Booker, who was also a recipient of Courtney’s book, promptly wrote her “a very nice note,” Cooperman said.) Now do you understand? Now do you understand? Even Hitler would have sent SOMETHING. Super-Rich Irony [New Yorker] Earlier: Leon Cooperman Doesn't Like The Tone Of President Obama's Voice *Just messing about him ever being in a position to "lose" it, of course. **Settle down, he wasn't saying Obama IS Hitler, would would be biologically impossible, he was just saying Obama is the second coming of Hitler, which is something people should be aware of: “You know, the largest and greatest country in the free world put a forty-seven-year-old guy that never worked a day in his life and made him in charge of the free world,” Cooperman told the New Yorker in May. “Not totally different from taking Adolf Hitler in Germany and making him in charge of Germany because people were economically dissatisfied. Now, Obama’s not Hitler. I don’t even mean to say anything like that. But it is a question that the dissatisfaction of the populace was so great that they were willing to take a chance on an untested individual.” ***Mrs. Cooperman, for example.: She is still a liberal, a position that puts her in the minority in their social circle. “She can be a socialist because she’s married to a capitalist,” Cooperman says of his wife, who is strongly pro-choice and pro-gay marriage. She calls Todd Akin, Rick Santorum, and Rick Perry “morons,” and she worries about the underclass. “I care more about the disadvantaged people of America,” she said, comparing her politics with those of her husband.

Barclays Chief Understands Not Everyone At The Bank Will Be Comfortable Complying With New Company Policy That Dictates They Follow The Law

Earlier today, Barclays chief Anthony Jenkins sent out a memo to employees informing them that moving forward, there'd be a new way of doing things 'round the bank. Namely, that whereas during his predecessor's tenure, manipulating interest rates and engaging in other forms of criminal activity was acceptable, such things would no longer fly. And not in a "this sort of thing is now frowned upon" way but in a "you actually can't do this anymore/if that presents a problem for you than clean out your desk and leave" way. Aware that change can be very difficult, that it often causes great anxiety, and that many will be initially resistant, Jenkins chose to take 1,479 words to get his message across, taking the time to acknowledge not everyone will be on board with acting "fairly, ethically and honestly," rather than writing: "Hey, we have a new policy called 'not doing illegal shit.' It's a little unorthodox and it may not be for everyone, so please take some time to think it over. If it's not for you, we wish you good luck in your future endeavors."

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UBS Concerned With The Company Some Of Its Employees Keep

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