Around the town
Sports team owner/venture capitalist/all-around rich guy Ted Leonsis—who may or may not have been approached to buy The Washington Post before its sale to Jeff Bezos—says that if he did own WaPo, he would hold an intervention “like [you would if] you have a family friend who has a drinking problem or a drug problem.” Mr. Leonsis said: “They have to say ‘we’re not that important anymore and what we’ve been doing hasn’t been working.’ This core model based on print isn’t going to work.” (Politico)
CNBC has flushed out its story on the losses it says UBS suffered when Nasdaq systems froze up on the day that Facebook started trading, and it will likely sound familiar to anyone who’s every used a credit card to buy something online. UBS wanted to buy 1 million shares in Facebook, according Read More
OCCUPY WALL STREET('S PANTS)
There’s a book party at Tao next week, but its guest list looks more like a Davos reunion. Among the yeses: ex-Chairman of the Fed Alan Greenspan, Nobelist Joseph Stiglitz, Pershing Square boss Bill Ackman, and Financial Times editor Gillian Tett.
Assuming they show, that’s not a bad draw for a first-time author. Then again, The Alpha Masters, by 27-year-old Squawk Box producer Maneet Ahuja, isn’t just any book. Like the party, the book is an impressive feat of investor-wrangling, a collection of insider accounts from low-profile, high-powered hedge fund managers like John Paulson, Marc Lasry and David Tepper. It’s out on May 21 from Wiley.
In the event you haven’t noticed, Wall Street is (according to New York Magazine, at least) having a rough go of it! If you’re one of the women of New York City who are ‘into’ Wall Street men and the wealth of character/fiscal riches they have to offer, one expert says you can make life easier on them when you try to pick them up. By being “easy.” Also, sexy. That too.
The U.S. Attorney and Postal Inspection Service announced Tuesday that Eric Stein, age 53, had been arrested and charged “with running an investment scam through Return-A-Pet LLC–a Manhattan-based company he operated…” Authorities who investigated Stein’s business say he may have lined his pockets with up to a half-million dollars over the last 3 years by hoodwinking consumers into buying “sham Return-A-Pet distributorships using false and misleading advertisements.”
This is familiar territory for Eric Stein.
“THIS IS NOT SOME OPINION! This is a mathematical fact!”
In a now-infamous Aug. 9, 2011, taping, a cable news host has just boiled over at his assembled panel of guests. He’s yelling, at full volume. “I’ve been coming on TV for three years doing this,” he bellows, exasperated. “And the fact of Read More
Kweku Adoboli—the rogue UBS trader who worked his way up from a London back-office desk to produce the seventh-largest trading loss in history, $2B—became one of the most notorious names in Financial screw-ups overnight! He’s since spend time hoping for a miracle on Facebook, but what does his Twitter account teach us?
It's Really Chill
Citigroup Chairman Richard Parsons believes his firm is too “interwoven” with the fabric of the global financial system to be allowed to fail. But more frightening, perhaps, than the prospect of a behemoth institution bringing down the global system, is the devil-worshiping fervor expressed by critics of government bailouts. Witness this snippet from Read More
The Tribune Company
Financial news cable network CNBC has not yet concluded its campaign to educate its viewers about marijuana. The self-proclaimed premier global business channel today announced that “Marijuana USA” is set to debut on Wednesday evening at 9 p.m. Eastern. From the press release:
On the case is Trish Regan, the CNBC reporter whose book, Joint Read More
Sam Zell, owner of the Tribune Co., said yesterday that he plans to exit the company once it emerges from bankruptcy.
The announcement, made last night during an interview with CNBC, is not exactly a surprise. In the last two months, a series of scandals have led to the departures of chief innovation officer Read More