Vikram Pandit is stepping down as chief executive officer of Citigroup, and the executive who divested the bank’s toxic assets in the wake of the financial crisis is moving into the bank’s top job.
Citi said in a statement today that Mr. Pandit was resigning and that Michael Corbat, Citi’s head for Middle East Read More
If you missed it over the weekend, New York Attorney General Eric Schneiderman is investigating the tax practices of private equity firms. At the center of the inquiry is the practice of converting management fees into investments that are taxed at more favorable rates. The private equity industry says such conversions are widely practiced and accepted; here’s a tax lawyer who says they’re illegal.
Who’s the character behind the latest bit of Conde Nast roman a clef? What does Barry Diller think of his newly-owned print magazine? What constitutes superficial beauty in a place as fundamentally ugly as D.C.? Did Malcolm Gladwell cause the recession? Does he wish he did? Who is producing the most powerful journalism of the day? And will Robert take K-Stew back? Today’s Power Lunch is brought to you by the Four-Cosmo Circa 2007 Michael’s Expense Account Lunch and Towncar Combo, and offers no real answers to any of those questions. These are your afternoon media briefs:
Mad Money host Jim Cramer is having a rough Friday – or as Zero Hedge would have it, a “nervous breakdown” – as evidenced by his Twitter feed, on which he’s gone berserker, as the Nordic would have it.
Financial shoutcreature Cramer apparently took umbrage with an arbitrary call-out stemming seemingly from nowhere; a 27 year-old Read More
“By the way, that feline whitefish on a bagel, shmeared properly, is not so bad,” said Jim Cramer.
It was the night of Thursday, April 23, and the host of CNBC’s Mad Money was standing on a stage at the front of a ballroom in the New York Hilton, talking about Read More
"It’s the kind of thing you can read in one sitting," said Ali Velshi.
Mr. Velshi, CNN’s chief business correspondent, was speaking to The Media Mob on Thursday morning about his newly published book, Gimme My Money Back: Your Guide to Beating the Financial Crisis.
Mr. Velshi said that the slim volume—one of Read More
Ever wonder what Mad Money and TheStreet.com‘s Jim Cramer was like as a kid? Sure you do!
According to Esquire‘s Scott Raab—whom you may recall controversially reported on the zombie scourge in Newark last year—Mr. Cramer was not unlike young Chas Tenenbaum from Wes Anderson’s 2001 movie The Royal Tenenbaums. Read More
According to recent articles, the Fox Business Network (FBN) still lags far, far behind its competitors at CNBC in terms of the size of its audience.
But amid the current financial panic, FBN is hoping to win over some viewers by running a political-style attack-ad knocking the record of CNBC’s Jim Cramer.
"Financially, Read More
TheStreet.com—a financial news site started by Jim Cramer in 1996—laid off roughly half a dozen employees yesterday afternoon, Media Mob has learned.
Earlier this afternoon Editor-in-Chief David Morrow confirmed that there had been layoffs but declined to say exactly how many; and, according to Mr. Morrow, the cuts were not indicative of financial problems at Read More