Write-Offs: 09.12.13

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Updated:: Jan 14, 2019
Original:: Sep 12, 2013

$$$ Twitter Inc. said it filed for an initial public offering with the U.S. Securities and Exchange Commission, in what would be the most highly anticipated offering since Facebook Inc. “We’ve confidentially submitted an S-1 to the SEC for a planned IPO,” the company said via its corporate Twitter feed on its website. “This Tweet does not constitute an offer of any securities for sale.” [Bloomberg, earlier]

$$$Layoffs at Chesapeake Energy rattle employees [NetNet]

$$$ Callan pauses and looks out across the bay. “It may seem like a strange thing to say, but sometimes I’ll look around and I’ll see a huge yacht or we’ll go by a beautiful house, and the first thing that comes into my head is not, like, ‘Oh, wow, wouldn’t that be great?’ ” she says. “The first thing that comes into my head is, ‘I wonder what they’re giving up to be able to have that?’” [BusinessWeek/ Sheelah Kolhatkar]

$$$ If you're looking for a way to commemorate the five year Lehman anniversary, consider a portrait by Geoffrey Raymond, the greatest artist of our time. [TAWSP, Related]

$$$ A Utah dad fed up with his daughter’s preference for very short shorts decided to teach her a lesson by donning some Daisy Dukes of his own. Scott Mackintosh was about to go on a family night out, but when he asked his daughter to kindly change into longer shorts and she refused, he took some scissors to an old pair of his own jeans. The result was a revealing pair of cut-offs designed to show his daughter her shorts aren’t ‘as cute as she thinks.’ [DM]

$$$Central bankers, brokers snap at SEC's money-market proposals [Reuters]

$$$Mark Cuban Invests in Start-Up to Connect Companies to M.B.A.’s [Dealbook]

$$$ A Shreveport woman was arrested on Sunday night in Bossier City after becoming belligerent with police. The arrest came following an incident where she allegedly swam nude in the fountain of the Horseshoe Casino Hotel. [ALT]

$$$ Goldman will console itself for its lost $20mm El Paso merger fee with its $220mm profit on the other side of the deal [Dealpolitik] $$$ "What's more, they tend to finance long-term mortgage securities with short-term repo. Typically they borrow from banks for 60-90 days and just roll their loans. Banks don't have to use much capital for securitized short-term loans, so they generally extend credit lines to REITs with no trouble." That sounds great [Sober Look] $$$ Jamie Dimon said some Dimony things today [DealBook] $$$ Mark Zuckerberg wrote the founder's letter in the Facebook S-1 on his phone [SAI] $$$ Kevin Roose went to TechCrunchDisrupt conference, disrupted it [DI, also, also] $$$ Brown Brothers Harriman is looking for a banking analyst in Philadelphia [DBCC] $$$ Moody's Cautions of Possible U.S. Downgrade in 2013 [WSJ] $$$ Integrating Banks Spurs Last-Minute Fears in Europe [NYT] $$$ "A South Carolina woman said she was shocked to discover her ex-boyfriend from 12 years ago has been living in her attic." [UPI] $$$ There may be a jaguar on the prowl in East Hampton [EH Patch via DI]

$$$ Euro zone discussed capital controls if Greek exits euro [Reuters] $$$ Spain's Bailout Boost Quickly Turns to Rout [WSJ] $$$ Fed Says U.S. Wealth Fell 38.8% In 2007-2010 On Housing [Bloomberg] $$$ Bankers Complain of Tension With Fed Over Pay Restrictions [Real Time Economics] $$$ David Cameron left his 8-year-old daughter alone in a pub [AP] $$$ The world's oldest animal marriage looks set to have turtley ended after an incredible 115 years when the two Giant Turtles at an Austrian zoo refused to share their cage anymore. Zoo management have called in animal experts to try and give the pair counselling - feeding them romantic good mood food and trying to get them to join in joint games - but so far without effect. Zoo boss Helga Happ said: "We get the feeling they can't stand the sight of each other anymore." Bibi and Poldi have been a pair since before anyone alive today can remember - they have been together at the Austrian zoo in Klagenfurt for 36 years and before that they lived at Basel zoo in Switzerland. Zoo boss Helga added: "They are both 115 years old - they have been together since they were young and grew up together, eventually becoming a pair. But for no reason that anyone can discover they seem to have fallen out, they just can't stand each other." [Austrian Times] $$$ Intrepid Investment Bankers LLC is looking for an M&A vice president in LA [DBCC] $$$ U.S. high court to hear Amgen securities lawsuit case [Reuters] $$$ A stupid CNBC chart [Felix Salmon] $$$ A stupid Bloomberg headline [Strange Bloomberg Headlines] $$$ A yacht named the Blind Date exploded and sank in the Atlantic Ocean off Sandy Hook, New Jersey [nj.com] $$$ Jerry Sandusky's lawyer tells a jury: "You saw those 8 photos, cute kids" [Penn Live via Deadspin]

$$$ Treasury nominee wins over critics, says tax reform top priority [Reuters] $$$ Meet the Morgan Stanley C.F.O. Candidates [DealBook] $$$ Has a Restructuring Credit Event occurred with respect to SNS Bank NV? [ISDA, also FTAV] $$$ "Mr. Grantham, chairman of Boston-based GMO LLC, a global investment management firm, was not arrested, but his daughter, Isabel, was one of 48 protesters arrested for handcuffing themselves to the White House fence ..." [P&I Daily] $$$ Dogs! [NYT] $$$ A leading software company in New York is looking for a Senior Vice President; Equity Financial Engineer [DBCC] $$$ Best Buy Founder Schulze Considers Alternatives to Buyout Plan [WSJ] $$$ SEC to roll out ‘Robocop’ against fraud [FT] $$$ Underwater and Drowning? Some Facts about Mortgages that Could Be Targeted by Eminent Domain [Liberty Street / NY Fed] $$$ "[S]tudents in Fröhlich’s "Intermediate Programming", "Computer Science Fundamentals," and "Introduction to Programming for Scientists and Engineers" classes ... collectively planned to boycott the final. Because they all did, a zero was the highest score in each of the three classes, which, by the rules of Fröhlich’s curve, meant every student received an A." [Inside Higher Ed via Catherine Rampell]

$$$ You can still drink big sodas [NYP] $$$ Bank compensation up in 2012 despite cutback efforts [Reuters] $$$ Morgan Stanley Set to Name Kaminsky Brokerage Vice Chair [FBN] $$$ Mary Schapiro Is Nominated to G.E. Board [DealBook] $$$ The life cycle of the investment banker [TED] $$$ City high-flier 'was called crazy Miss Cokehead by work bullies after she blew whistle on insider dealing' [DM] $$$ Brookfield Investment Management is looking for a global infrastructure securities analyst in Chicago [DBCC] $$$ Europe trading tax would kill repo market -industry official [Reuters] $$$ SAC Capital Manager’s Tipper Deserves Prison, U.S. Says [Bloomberg] $$$ "Long term shareholders are well served by activism" [Aswath Damodaran] $$$ "Callan hardly needs advice from me but I'll offer it anyway. She may want to consider that her lack of satisfaction with her life's direction is not a product of the choices she made. Instead, her choices may have been a product of her lack of satisfaction. In my experience, the kind of people who can rise to the level she did at a relatively early age tend to be filling a hole in their psyche, an indistinguishable yearning for something more that is experienced as a kind of pain." [NetNet / John Carney] $$$ Corey Robin went to school with Bill[y] Ackman [Corey Robin]

$$$ Germany Pushes EU Bank Oversight [WSJ] $$$ Goldman CEO testifies at Gupta insider trial [Reuters] $$$ Lawyer Kluger Gets 12-Year Sentence For Insider Trading [Bloomberg] $$$ Lisbon to inject €6.6bn into largest banks [FT] $$$ Giant Prehistoric Insects Shrank To Escape Developing Birds [Bloomberg] $$$ PIMCO is seeking a Cash, Short Duration, and Income product associate in Newport Beach [DBCC] $$$ Stock Market Could Bounce, but Look Out Below [CNBC!] $$$ Dealer corporate bond inventories continue to shrink [Sober Look] $$$ HSBC tests cash machines in Athens for drachmas [ThisIsMoney via NYO] $$$ Bernie Madoff’s son and future daughter-in-law are desperately trying to land a downtown apartment but can’t — because building owners don’t want to be associated with them. Andrew Madoff and Catherine Hooper have tried to cover up their connection to the Ponzi schemer by making appointments under Hooper’s name. She then shows up alone to view the $20,000-per-month pads, brokers said. Hooper speaks generally, saying the space is for her, her fiancé and their children, the sources said. But once the brokers explain who Hooper is to the landlord, the couple is immediately rejected, the sources added. [NYP]