Good (Brother) Triumphs Over Evil (Brother)

Gravity payments CEO Dan Price can go ahead and pay his employees $70k+, despite his bro's complaints/lawsuit.
Family portrait with the infant Gravity Payments. William Blake [Public domain], via Wikimedia Commons

via Wikimedia Commons

Or, you can’t fix stupid (with a lawsuit filed by a smart person). Or, to be slightly less orotund about it, the brother who wants to pay everyone at his small credit-card payment processing company at least $70K can’t be stopped by his brother and co-founder, who thinks that’s a really terrible idea. The two continued to play their appointed roles in the wake of Abel’s long-delayed victory over Cain.

In a statement on Sunday, Lucas Price said: “I am shocked and disappointed with the decision and I will be considering my options.”

Dan Price praised the ruling in a statement posted to his Facebook page but also emphasized his ties to his brother. “My love for my brother is unconditional,” he said, noting Lucas’s “incredibly valuable role” in creating Gravity Payments.

Seattle C.E.O. Who Promised $70,000 Salaries Wins Suit Filed by Brother [NYT]


Lehman Brothers Thought Fight To Stay Alive Was A Battle Of Good (Them) Versus Evil (Everyone Else)

As some of you may recall, a month after Lehman Brothers went under, the House Committee on Oversight and Government Reform released an interesting email Dick Fuld had sent to LEH vice-chairman Thomas Russo on Saturday, April 12, 2008, circa midnight. Dick had just come back from a dinner with Hank Paulson and was so excited to relay the details he couldn't wait 'til the next day to get in touch with Russo, who he apparently viewed as his "teacher." Fuld said his key "takeaways" were that the government loved Lehman, that Paulson wanted to "kill the bad hedge funds" (like those diabolical shorts Fuld knew were to blame for his problems), and that while the then Treasury Secretary appeared to have a "worried view" of Merrill Lynch, Dick got the sense that Paulson thought Lehman was in terrific shape. Per the bankruptcy documents put online last week, here's how the rest of the conversation between Fuld and his Sensei went.

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Older Brother Sells Out Younger Brother In Alleged Crypto Hedge Fund Fraud, But Notes That Real Villain Is SEC

If they’d just unfreeze those assets, his little bro would quickly get them back to his alleged victims, he’s pretty sure.

How do you say, "low six-month fix" in emojis? Helar Lukats [CC BY-SA 4.0], via Wikimedia Commons

What Happens On WhatsApp, Stays On WhatsApp (Unless You Delete It, Which You Should)

Keeping traders one step ahead of the law (and, like, 50 ahead of compliance).


Commerce Secretary Good At Napping, Bad At Math

Wilbur Ross may be carrying a few too many ones when calculating his net worth and his p.e. firm's fees.

By Chris Potter (Flickr: 3D Judges Gavel) [CC BY 2.0], via Wikimedia Commons

Robinhood Gets Some Good News Vis-à-Vis Getting Sued

TD Ameritrade can’t be hit with a class-action over payment for order flow, so the little app that sometimes couldn’t probably can’t, either.