September 20, 2021

Write-Offs: 09.03.13

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$$$S&P Slams Justice Department Suit as 'Retaliation' for Downgrade [WSJ]

$$$ In a filing with the U.S. District Court in Santa Ana, California, S&P said the lawsuit attempts to punish it for exercising its First Amendment free speech rights under the U.S. Constitution, but also seeks "excessive fines" in violation of the Eighth Amendment. It said the government's "impermissibly selective, punitive and meritless" lawsuit was brought "in retaliation for defendants' exercise of their free speech rights with respect to the creditworthiness of the United States of America." [Reuters]

$$$ Dick Parsons may be the world’s only person to own a Tuscan vineyard and a restaurant and jazz supper club in Harlem. “My passions are wine, food and music and it all came together,” the ex-chairman of Citigroup and former chairman and chief executive of Time Warner. The Cecil is scheduled to open at 210 W. 118th St. on Sept. 23, featuring chef/partner Alexander Smalls’ Afro-Asian-American brasserie. The idea, Parsons said, is to integrate the culinary traditions of the African Diaspora — topped off with wines from the Tuscan vineyard. [NYP]

$$$SAC Capital looking at just managing insider capital [CNBC]

$$$ My sources tell me that playing soccer with Prince William 'can make you think he has tourettes' such is the volume and intensity of foul-mouthed expletives that pour forth from the royal mouth when the passionate footballer flubs a kick, so perhaps wisely the Prince will only be watching, not playing, when Buckingham Palace hosts its first ever game game of soccer in the palace gardens on Monday 7 October to pay tribute to 150 volunteers that "help deliver and support" the UK’s favourite game. [TDB]

$$$Texas Hedge Fund Takes a Big Stake in J.C. Penney [Dealbook]

$$$Planned LinkedIn $1 billion stock offer is for expansion, products [Reuters]

$$$A Field Guide To The Perfect Nap [WSJ]

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$$$ Athens faces tough bail-out terms [FT] $$$ ECB to Exchange Greek Bonds [WSJ] $$$ I give up, what would you do about Greece? [Crooked Timber] $$$ Yelp Sets Terms for March IPO [WSJ, possibly related] $$$ Goldman hires Harvard students because Harvard is bad at educating them [Bloomberg / Ezra Klein, possibly related] $$$ Australia's richest person wrote the universe's worst poem ("Develop North Australia, embrace multiculturalism and welcome short term foreign workers to our shores / To benefit from the export of our minerals and ores" etc.) [Telegraph via The Jane Dough] $$$ You could be a Credit Risk Senior Analyst at Genworth in Stamford [eFinancialCareers] $$$ Icahn Offers to Buy CVR Energy in at Least $2.6 Billion Deal [Bloomberg] $$$ The SEC raised the qualifications for being charged 2 and 20 [SEC] $$$ Merrill brokers are fine selling bad advice but draw the line at selling BofA banking services [Reuters / Felix Salmon] $$$ Welcome to six months ago Art Cashin. Some tips: buy NFLX; don't take any Tuscan cruises. [MarketBeat] $$$ Former U.S. Vice President Al Gore wants to end the default practice of quarterly earnings guidance and explore issuing loyalty-driven securities as part of an overhaul of capitalism which he says has turned many of the world's largest economies into hotbeds of irresponsible short-term investment. [Reuters] $$$ Toddler Rescued From Inside Claw Game [ABC]