Skip to main content

Opening Bell: 8.5.15

Puerto Rico; Jeb; Soros 2.0; "Meth lab remnants found inside Iowa Taco Bell"; and more.
  • Author:
  • Updated:

Puerto Rico Has Another Debt Worry on Horizon (Dealbook)
The general obligation payment due to bondholders on Sept. 1 is for a mere $5 million, an amount so small that even if the redemption fund is empty at that point, Puerto Rico could still produce the cash right out of general revenue. It would presumably want to do so because of the constitutional requirement. But a much bigger payment on the general obligation bonds, about $370 million, comes due on Jan. 1. If Puerto Rico misses that one, “it would be an earthquake for the markets,” said Matt Fabian, a partner at Municipal Market Analytics, a financial research firm.

How Jeb Bush Spent His Years on Wall Street (WSJ)
For more than seven years, nearly the length of his two gubernatorial terms, Mr. Bush, a candidate for the Republican presidential nomination, spent as much as half of his working hours advising Lehman and later Barclays, which bought the collapsed investment bank’s U.S. business. He wasn’t an employee of the firms, said people familiar with the matter, but was paid to attend meetings, dinners and conferences where he spoke to clients and bank executives on such subjects as health care, education, immigration and energy—matters he has started taking up this year with voters. Mr. Bush earned about $1.3 million a year at Lehman and some $2 million from Barclays, his campaign said.

George Soros Hands $2 Billion to His Top Money Man Bessent (Bloomberg)
Bessent, 52, is forming Key Square Group with a $2 billion investment from Soros, according to a memo sent to employees of Soros Fund Management. That will make his firm one of the largest hedge-fund start-ups ever, even before he begins raising money from other investors.

Driving instructor charged after offering woman passing grade for racy sex act (WJLA)
On July 9, Perry was administering a road test to a woman who came to the MVA's Gaithersburg branch to obtain her driver's license. After completing the course, Perry told the woman he could not pass her because she failed to fully brake at a stop sign. According to charging documents filed in Montgomery County District Court, Perry told the woman he would happily alter her test score if she serviced him.

SEC Set to Approve CEO Pay-Gap Disclosure Rule (WSJ)
The SEC is slated to vote on a final version of the rule at a meeting Wednesday. The measure is expected to leave corporations and their trade groups disappointed by allowing companies to exclude only 5% of their overseas workers from the pay-ratio calculation, The Wall Street Journal reported last week.

Neiman Marcus sets $100M IPO target (NYP)
Neiman was owned by private equity firms TPG Capital and Warburg Pincus, which had explored an IPO in 2013. They instead sold it to Canadian Pension Plan Investment Board and Ares Management among others.

Crédit Agricole in ‘Advanced’ Talks on U.S. Sanctions Settlement (Dealbook)
If a settlement occurs, Crédit Agricole would be the latest European bank to reach a deal with the American authorities in a long-running investigation into whether lenders allowed prohibited individuals and countries to gain access to the American financial system.

Meth lab remnants found inside Iowa Taco Bell (UPI)
Police did not say Tuesday whether it appeared meth had been cooked inside the Taco Bell.


Opening Bell: 9.3.15

Private equity eyes Petco; Hedge fund losses; "Who Wants to Ring the Closing Bell on Bad Days?"; Puerto Rico still not doing so hot; "Hawaii woman announces plan to use dolphin as a midwife"; and more.

Opening Bell: 5.18.15

Greece is screwed; Puerto Rico is screwed; Hedge funds are screwed; "Parrot Won't Stop Cursing In Spanish"; and more.

Opening Bell: 3.17.15

Pinterest; Insider trading; The stockbroker who smokes 10 joints/day; Tech bubble fears; "Big Box Store Employee Discovers Meth Lab In Bathroom"; AND MORE.

puerto rico flag

Opening Bell: 6.10.16

Puerto Rico debt crisis bill passes house; Whistleblower aided SEC in Deutsche probe; Man reaches day 322 of eating Chipotle every day; and more.

Opening Bell: 8.21.15

Paulson likes Puerto Rico; JP Morgan hires General; Female Viagra; Twitter; "Hamas captures alleged Israeli spy dolphin"; and more.

By M.Minderhoud (Own work) [GFDL or CC-BY-SA-3.0], via Wikimedia Commons

Opening Bell: 6.22.16

Puerto Rico vs bondholders; Brexit, Brexit, Brexit; Man creates smoothie made of McDonald's burgers; and more.

Opening Bell: 6.29.15

Greece, Greece, Greece; Puerto Rico; "CNN mistakes sex toy sign for Islamic State flag" and more.

Opening Bell: 6.25.15

Greece and Puerto Rico are screwed; Uber water taxi; Testicle-eating fish caught in New Jersey; and more.