They Gave Her a $3.8 Million Bonus—and Then the Boot (Businessweek)
In her complaint, which was settled this year on undisclosed terms, Rohrbeck questioned Baupost’s record of retaining women, especially after childbirth. She said her boss made a crude joke to her about a colleague’s masturbation and that she heard secondhand that he liked to rate women by appearance. Her case, however, involved more than allegations of sexist behavior. She said she lost her job after asking for accommodations because she had been diagnosed with celiac disease.
Former Hedge Fund Star Nehal Chopra Settles With SEC (II)
One-time Institutional Investor Hedge Fund Rising Star Nehal Chopra, along with her firm and husband, have settled with the Securities and Exchange Commission over allegations that he improperly shared confidential investment recommendations with her. Chopra, founder of Ratan Capital Management, failed to disclose the source of the information to her firm’s clients, according to a December 5 cease-and-desist document from the SEC.
Wall Street Tells Frackers to Stop Counting Barrels, Start Making Profits (WSJ)
The confab began with ground rules: No one would speak of specific companies or action plans, to avoid running afoul of antitrust regulations and rules governing passive and activist investors. Instead, they discussed how to make frackers pump less and profit more. “We’re not backing down,” one investing participant told the assembled, some of the attendees say. “This is an existential issue for us.”
Uber paid 20-year-old Florida man to keep data breach secret (Reuters)
A 20-year-old Florida man was responsible for the large data breach at Uber Technologies last year and was paid by Uber to destroy the data through a so-called “bug bounty” program normally used to identify small code vulnerabilities, three people familiar with the events have told Reuters.
Coinbase: The Heart of the Bitcoin Frenzy (NYT)
GDAX is overseen by Adam White, a former Air Force officer and a graduate of Harvard Business School. The day Bitcoin hit $10,000, he was in New York speaking with big financial institutions that are looking into Bitcoin. Some companies are getting ready to begin trading Bitcoin futures contracts in December, when that activity becomes available on the Chicago Mercantile Exchange. A year ago, his Wall Street outreach was difficult, but “it’s all inbound now,” Mr. White said. ALSO: Bitcoin Mining Service NiceHash Says Hackers Emptied Its Wallet
What happens when bitcoin’s market cap overtakes world GDP? (FT Alphaville)
Because there’s no reason why it couldn’t. And that’s the problem. Unlike any other market in the world, there are no natural sellers in bitcoin. Even the miners who mint coin stockpile as much of it as possible and try to obtain as much free energy from alternative non monetary sources.
Government Deficits: A Financial View (Tesari)
Most of the mainstream confusion about fiscal policy and government debt comes from trying to analyze the modern financial economy as a barter exchange economy and assuming that the ultimate purpose is increasing consumption. The modern economy is intrinsically a financial one and the goal of capitalists is to accumulate financial assets. It so happens that western capitalism has channelized the private desire to accumulate into creating material prosperity for the masses. Viewing fiscal policy through the prism of finance can help clear a lot of cobwebs (talk about mixed metaphors).
I Made My Shed the Top Rated Restaurant On TripAdvisor (Vice)
One day, sitting in the shed I live in, I had a revelation: within the current climate of misinformation, and society's willingness to believe absolute bullshit, maybe a fake restaurant is possible? Maybe it's exactly the kind of place that could be a hit? In that moment, it became my mission. With the help of fake reviews, mystique and nonsense, I was going to do it: turn my shed into London's top-rated restaurant on TripAdvisor.
Service dog causes chaos at ‘Cats’ performance (NYP)
Spies at the Neil Simon Theatre tell us an audience member’s service dog “got away from its owner and ran after [the character] Bombalurina, performed by actress Mackenzie Warren, during the opening number.”