Guy Who Claims To Have Invented The Phrase "Taking Care of Business" Throwing Inaugural "Sugar Daddy Mixer" Tonight

Alan Schneider AKA "Action" hopes to see you there.
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Inventor Alan Schneider will “bring on his party skills" Thursday night at the Copacabana in Midtown, at "the first Sugar Daddy Party Business Mixer in South New York City’s history," he said. Schneider, or "Action," as he prefers to be called, is the self-proclaimed inventor of the modern sugar-daddy party, a mixer in which men of means can meet young female companions. "At this event, men feel more virile and appreciated, and women feel revered and treated with chivalry and respect," Action said in the release about the June 11 party. [DNAinfo]


Judge Throws A Wrench In Rajat Legal Team's 'You've Got The Wrong Guy' Defense

Over the course of the Rajat Gupta insider trading trial, attorneys for the former Goldman Sachs director have attempted to show that while their client was privy to material non-public information about, among others, Goldman and Procter & Gamble, and had an established relationship with Raj Rajaratnam, the hedge fund manager currently doing eleven years for trading on material non-public information, their client had no role in helping Raj-Raj score his ill-gotten gains. Last Monday the defense put a witness on the stand who told the jury that while once close, Gupta wasn't even invited to Rajaratnam's "lavish 50th birthday party that took place in Kenya," ergo there is no way Rajat would've shared inside info with the guy. This week, the team was hoping to play wiretaps of conversations that took place between Rajaratnam and Goldman executive David Loeb, who they claim is the guy who actually tipped off the Galleon manager. Unfortunately: Rajat Gupta, the former Goldman Sachs Group director accused of insider trading, lost a bid to have a jury hear wiretaps of Goldman Sachs executive David Loeb tipping Galleon Group LLC co-founder Raj Rajaratnam...Rajaratnam got some of his illegal tips from Loeb, Goldman Sachs’s head of Asia equity sales in New York, defense attorney Gary Naftalis has said in court. The lawyer has argued to the jury that the “wrong man” is on trial...“This is an attempt to prove an alternative view of the underlying facts and blatant hearsay,” Judge Rakoff told Gupta’s lawyers. Gupta Loses Bid on Wiretaps of Goldman’s Loeb, Rajaratnam [Bloomberg] Related: Maybe Rajat Gupta Just Wanted Raj Rajaratnam To Console Him Over Goldman’s 3Q2008 Loss, Not Go And Trade On It