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Sunday, November 01, 2009
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Metlife continues to hurt as losses from poor investments keep coming in, and the variable-annuity guarantees hurt it… http://online.wsj.com/article/SB125686322982517529.html#mod=todays_us_money_and_investing Exxon is taking a hit as competition for oil fields is fierce and its current wells are losing production, suggesting peak oil may be around the corner… Free software may be the new trend as lean companies and entrepreneurs challenge the big dogs with good-enough offerings… http://www.bloomberg.com/apps/news?pid=20601109&sid=arPzMR.hhDq0 http://www.ft.com/cms/s/0/76f2d806-c198-11de-b86b-00144feab49a.html Demand Media may be the largest web media company, with over $500mn in revenues and hence larger than Facebook… http://www.usatoday.com/money/companies/management/profile/2009-10-25-ehow-richard-rosenblatt_N.htm Vitamin Shoppe was a fairly good IPO recently, as it operates stores selling supplements in bottles for fat margins… http://online.wsj.com/article/SB125673819759713087.html Corporate ventures fail because assumptions are taken as facts, and big projects tend not to iterate toward market and customer needs… http://online.wsj.com/article/SB20001424052748703787204574447002212169532.html#mod=todays_us_ Basketball is hurting as the NBA cuts coaches, parties, and salaries to meet expenses and over half the teams are operating at a loss… Steel profits
are a good indicator of economic recovery, and Arcelor
Mittal suggests that http://online.wsj.com/article/SB125674445385713317.html AIG’s failure and bailout was bungled by the NY Fed and Treasury Secretary Geithner, according to those close to the matter… http://www.bloomberg.com/apps/news?pid=20601109&sid=a7T5HaOgYHpE Luxury goods are still taking a beating, as LVMH and its competitors are still dealing with sales declines as the rich stop buying… Bank of http://dealbook.blogs.nytimes.com/2009/10/16/in-bank-of-america-mess-whither-wachtell/ New technology allows security agents and police to look through walls and understand what’s happening instead buildings… http://www.economist.com/sciencetechnology/displaystory.cfm?story_id=14637299 Employers are still skittish and holding off on hiring, as they prefer to squeeze productivity from workers who can’t go elsewhere… http://online.wsj.com/article/SB125599093581195087.html#mod=todays_us_page_one It looks like GE will sell NBC Universal, as its about $500mn away on price from Vivendi and it’s tough to assess the value of NBC… Vegas and the billionaire Adelson have gone through rough times but survived; like a cockroach, the casino-entertainment model still lives… http://www.ft.com/cms/s/0/b08fe774-bccb-11de-a7ec-00144feab49a.html http://www.ft.com/cms/s/0/43e5e5fa-bcc7-11de-a7ec-00144feab49a.html Southwest Airlines is showing a move toward increased revenue miles from passengers, suggested the airline industry in ready to recover … http://online.wsj.com/article/SB10001424052748703790404574474913584659046.html Buyers sue Trump
as condos they bought in http://www.bloomberg.com/apps/news?pid=20601109&sid=a7s0rpuaOw50 Google Book Editions will be a new e-book platform Google is launching, where 45% of profits go to the author and almost 55% goes to the retailer… http://online.wsj.com/article/SB10001424052748704107204574474822581549710.html Wipro, the
Indian outsourcing company, is creating jobs in the http://www.bloomberg.com/apps/news?pid=20601109&sid=a9Dal6jVrTBA Auto insurer Progressive has stronger earnings as it tightens underwriting and invests more carefully, two things every insurer should do … http://www.bloomberg.com/apps/news?pid=20601087&sid=axNVrwoDJjwY Bloomberg buys Businessweek although Bloomberg has always developed units internally and Businessweek is a money pit, so why… http://www.marketwatch.com/story/why-does-bloomberg-want-businessweek-2009-10-13 Redstone sells Viacom as the old man is strapped for cash and needs to sell assets to meet debt, ending the era of the giant media mogul … http://www.ft.com/cms/s/0/dd0a6e38-b8bf-11de-809b-00144feab49a.html Punch
Taverns’ shares are trading at 60% below the net asset value of its
considerable http://www.ft.com/cms/s/3/824fb452-b89d-11de-809b-00144feab49a.html http://www.ft.com/cms/s/0/d371bef6-b88f-11de-809b-00144feab49a.html Homebuilders with less land on the books are looking to quite well, as they can now buy land on the cheap… http://online.wsj.com/article/SB125547548013683585.html Google’s Wave will change communication forever, merging attributes of e-mail, instant messaging, file sharing, and social networking… http://www.techcrunch.com/2009/10/12/google-wave-and-the-dawn-of-passive-aggressive-communication/ Versace is leaving Japan, possibly a bellwether sign that the Japanese consumer is overextended and luxury goods makers are moving to China… Finally a Wendy’s ad campaign that focuses on the best feature of their product, its freshness. The burger wars are in full swing, and beyond price… Newspapers will suffer more, analysts say, and its possible that the demise of the print newspaper industry will bring winners and losers… http://www.nytimes.com/2009/09/21/business/media/21papers.html?fta=y&pagewanted=print Uniqlo is a Japanese clothes retailer that is invading Europe – with moderate prices, classic clothing, and high quality goods, its model is thriving in the recession… http://www.bloomberg.com/apps/news?pid=20601109&sid=aww8pI3yv3x8 Office rents are diving everywhere, but mostly in NYC as the vacancy rate hits 16.5%, a five-year high… http://online.wsj.com/article/SB125488352504069971.html#mod=todays_us_page_one Law firms are hiring less and deferring hires more, suggesting the credit bubble was fueling a legal services bubble that has now popped… http://online.wsj.com/article/SB125478012114565787.html#mod=todays_us_page_one Ratings agencies are in bad times, but Moodys is having a particularly difficult time when former executives testify about its sleaze… http://www.reuters.com/article/ousiv/idUSTRE58T42320090930?sp=true Vegas’ casinos have finally realized that their debt binge can no longer go on, and they need to attract customers to older facilities… http://online.wsj.com/article/SB125470120316763089.html Indian tech outsourcing companies want to move up the value chain and actually partner with Western firms and take over tech departments… In secret meetings the Fed is worrying about commercial real estate loans – banks like Capmark have 11 cents in reserves for every $1 of bad loans… http://online.wsj.com/article/SB125487629495569591.html#mod=todays_us_money_and_investing Newegg is an online retailer selling IT products – it has been profitable every year since 2001 and had a stunning 13% sales increase in 2008… SkyTerra’s satellite service allows cell phone users who lose tower service to keep their call, but Phil Falcone’s Harbinger Capital just bought out the company… http://www.washingtonpost.com/wp-dyn/content/article/2009/09/23/AR2009092303936_pf.html Forget gold – platinum is hot with palladium as the two have surged 38% and 56% this year due to global industrial demand, a play on emerging market growth… Building tangible things over pushing paper is what private equity manager Luke Johnson secretly admires and wishes he did… http://www.ft.com/cms/s/0/e76c1c3e-ad28-11de-9caf-00144feabdc0.html There is no ultimate safe haven but gold; one blogger summarizes all the arguments for investing in it, from Fed Chairman Greenspan to Taleb and others… http://www.nakedcapitalism.com/2009/09/guest-post.html In this recovery climate, start-ups are suffering, which is
worrying for jobs because businesses in their first 90 days of life account
for 14% of US hiring from 1992 to 2008… http://online.wsj.com/article/SB125409527512844979.html#mod=todays_us_page_one |
Blackstone’s debt binge is evident in Hilton Worldwide, which is negotiating with bondholders and is the tip of the private equity default wave… http://online.wsj.com/article/SB125668616971811715.html An asset price bubble and capital moving away from the US is what the President of Blackstone and the Chairman of CIC see… http://www.ft.com/cms/s/0/47ac3d54-c39a-11de-a290-00144feab49a.html http://www.reuters.com/article/newsOne/idUSTRE59R5CC20091028 Commercial real estate defaults will be massive, says Wilber Ross, and we are going to see a “huge crash” coming… http://www.bloomberg.com/apps/news?pid=20601087&sid=afjAIKWhvFeQ Poison puts are what the dumb bondholder community are asking for now, just when it’s unlikely they will ever need them… http://www.bloomberg.com/apps/news?pid=20601109&sid=a0B7W52MerDs Gramercy Capital trades at such a discount to its book value, with hard real estate assets and a limited downside that this looks like a gem in the wreckage… http://online.wsj.com/article/SB125650914296406799.html http://www.sec.gov/Archives/edgar/data/1287701/000104746909002739/a2191546z10-k.htm Gold versus shares battle each other for investor interest, as people just can’t decide what will rule in 2010… http://online.wsj.com/article/SB125649623986906719.html Dumb retail investors are slowly piling back into stocks just as the pros are cutting back exposures… http://www.ft.com/cms/s/3/04ee286c-c212-11de-be3a-00144feab49a.html Local governments are the biggest financial suckers, as they buy swaps they don’t need and don’t make disclosures they should make… http://www.bloomberg.com/apps/news?pid=20601109&sid=aBarSkIcch2k Sovereign bond yields are a ticking time bomb as governments borrow to bail out rich creditors and economies keep weakening… http://www.ft.com/cms/s/0/27e90dea-c23b-11de-be3a-00144feab49a.html Online education is the big bet that McGraw Hill is making, as it pushes content to digital readers and away from textbooks … VCs in syndicates
take group-think and risk reduction to a new level, as deal flow is low and
the bare-chested bears of Defaults are good for the economy as they reduce household debt and allow people to start spending again, instead of paying the rent bill… Greenlight’s David Einhorn says that macro matters even for bottoms-up stock pickers, and you have to have a view on industries and the economy… http://blogs.reuters.com/rolfe-winkler/files/2009/10/einhorn-vic-2009-speech.pdf Bonds are better than stocks depending on the initial price, says Warren Buffett, though stocks over the long run will return something… http://online.wsj.com/article/SB125513033586977149.html Vornado Realty Trust is one of the Derivatives are
like porn in that neither can be clearly defined but you “know it
when you see it” – the question is whether it’s harmful or
safe… http://www.reuters.com/article/reutersComService4/idUSTRE5764MB20090807?sp=true A report on TARP
slams the http://www.usatoday.com/money/industries/banking/2009-10-20-treasury-bailout-banks_N.htm Too big to fail
means a bank should be broken up, says the lone dissenting central banker
from http://online.wsj.com/article/SB125607015746097133.html#mod=todays_us_money_and_investing http://www.ft.com/cms/s/0/97e0f540-bda9-11de-9f6a-00144feab49a.html http://www.bloomberg.com/apps/news?pid=20601109&sid=a6QpSf.s4NaA Stocks as an asset class are being reevaluated, as investors learn not to buy and hold forever, but to watch for prices and cycles… http://online.wsj.com/article/SB125513033586977149.html CALPERS’
funds are down and the taxpayers of http://online.wsj.com/article/SB125556625187286301.html The FOMC considers slack to be one of the key reasons inflation will stay low, but the debate is heated according to the Fed’s latest minutes… http://www.federalreserve.gov/monetarypolicy/fomcminutes20090923.htm Fraudulent conveyance occurs when a borrower, like Tousa, goes bust and makes payments to some creditors over others… http://online.wsj.com/article/SB125555159224285641.html#mod=todays_us_money_and_investing Stuy Town is one of the largest apartment real estate complexes in the world, and this NYC landmark is ready to default soon… http://online.wsj.com/article/SB125547827547583747.html The US
dollar’s demise is overrated in the short run, but it’s in
the http://www.ft.com/cms/s/0/9165b8b0-b82a-11de-8ca9-00144feab49a.html A Chinese housing boom continues due to easy credit, as the largest developer shows a 26% increase in sales and prices are rising… http://www.chinadaily.com.cn/bizchina/2009-10/14/content_8790201.htm Currency depreciation and trade disputes will continue, as everyone agrees rebalancing must occur but surplus countries want it to come from others… Hedgie John Paulson is doubling down on financials after two years of shorting them aggressively… http://www.bloomberg.com/apps/news?pid=20601087&sid=a3Dk67f9sxGo Goldman Sachs will earn $1 billion if its banking client CIT fails and files for Chapter 11. Why would a bank client strike a deal where its advisors would profit at its loss… http://www.ft.com/cms/s/0/9170b5f2-b10f-11de-b06b-00144feabdc0.html?nclick_check=1 http://www.ft.com/cms/s/0/a5dcac30-b10f-11de-b06b-00144feabdc0.html Predicting merger and event outcomes is one thing Professor de Mesquita of NYU thinks his math model can do, along with many other things… http://online.wsj.com/article/SB125538997994481405.html#mod=todays_us_money_and_investing TIPS with longer duration are what some smart bond investors are betting on, while others think TIPS are suckers bets and that real assets will do better… http://www.bloomberg.com/apps/news?pid=20601109&sid=agCcWr9sbO58 Easy credit for the poor is over and many are just struggling to pay off previous loans and interest without declaring bankruptcy… http://online.wsj.com/article/SB125511860883676713.html Hotel investors seem to betting on a rebound and are investing when vacancy signs and revenue per available room numbers down by 19% yoy… http://online.wsj.com/article/SB125495341507271799.html#mod=todays_us_money_and_investing The http://suddendebt.blogspot.com/2009/10/sic-transit-gloria-dollarii-mundi.html The fiscally failed
state of http://www.marketwatch.com/story/california-hikes-yield-in-bond-sale-to-stir-demand-2009-10-08 Does the recent
rate hike in http://ftalphaville.ft.com/blog/2009/10/08/76671/the-interesting-lesson-from-the-rba-rate-hike/ TARP deadbeats have stopped making payments on government loaned moneys; CIT Group and First BanCorp top the list… http://blogs.reuters.com/rolfe-winkler/2009/10/08/tarp-deadbeats/ Euro CDS markets are watching the settlement of the Thomson case, where bondholders may want to see a restructuring fail to collect on CDS… http://www.bloomberg.com/apps/news?pid=20601109&sid=apbPY9mDmI5c Investment bank poofery or fraud, you decide. The government is arguing that Bear Stearn’s Ralph Cioffi crossed the line… http://online.wsj.com/article/SB125530291552979141.html#mod=todays_us_money_and_investing Not only do derivatives increase risk, but they seem to be legally privileged in numerous ways, such as in the bankruptcy process… http://blogs.reuters.com/rolfe-winkler/2009/10/06/why-privilege-derivatives/ In the first insider trading case for CDS, the SEC has charged an i-bank salesman with tipping a portfolio manager at a large hedge fund… http://www.bingham.com/Media.aspx?MediaId=9556 Currency debasement is the only logical outcome of current government actions, writes hedge fund manager Kyle Bass of Hayman Advisors… http://www.scribd.com/doc/20643004/Hay-Man http://www.nytimes.com/2009/10/07/business/global/07rates.html?_r=1&hpw=&pagewanted=print Stocks for the long run, Jeremy Siegel keeps arguing. It’s difficult to compare asset classes aggregated because few can agree on earnings… http://www.ft.com/cms/s/0/b788547c-b1bc-11de-a271-00144feab49a.html Bond ETFs are great in theory but are quite inefficient in practice. They don’t track their benchmarks and the redemption process doesn’t work… http://online.wsj.com/article/SB125478769535366203.html#mod=todays_us_money_and_investing 800 years of financial crises, yet countries and bankers continue to make the same mistakes, say the authors of a new book… http://www.ft.com/cms/s/2/b41626be-ab83-11de-9be4-00144feabdc0.html Deflation will continue, bets Pimco’s Bill Gross, as he buys billions of dollars of 5-10 year duration US Treasuries… http://www.bloomberg.com/apps/news?pid=20601087&sid=a5qkMIPH67tQ Buy Chinese bonds. China’s Ministry of Finance is selling $880mn of yuan-denominated bonds in an attempt to challenge the US dollar… http://online.wsj.com/article/SB125416714851947121.html#printMode $28 trillion lost in world wealth, according to McKinsey’s latest report on global capital markets, as all major developed countries took on too much debt… http://www.mckinsey.com/mgi/publications/gcm_sixth_annual_report/executive_summary.asp The emerging markets label is obsolete, says Everest Capital’s Marko Dimitrijevic. For a Miami-based fund, this isn’t a radical view… http://www.ft.com/cms/s/0/82edf7c0-ac3b-11de-950b-00144feabdc0.html |
The best banking fix would separate out banking into three buckets: utility retail, investing banking, and the asset management business... http://www.ft.com/cms/s/0/a11e34ac-c3fc-11de-8de6-00144feab49a,s01=1.html A rising yuan is the only sustainable way to address global imbalances, says Harvard’s Marty Feldstein, and Chinese alternatives are rubbish... http://www.ft.com/cms/s/0/fd4b4852-c4db-11de-8d54-00144feab49a.html Eurozone unemployment edges higher, as Martin
Sorrell of WPP says a LUV recovery means http://www.ft.com/cms/s/0/5c76987e-c543-11de-8193-00144feab49a.html New regulation for asset securitization is just one thing the new SEC Chairman is asking for, and it is crucial for reform even as the Fed asks for systemic powers.… http://online.wsj.com/article/SB125665531530310503.html#mod=todays_us_money_and_investing http://www.ft.com/cms/s/0/3ad532a4-c352-11de-8eca-00144feab49a.html Deflation fears are a drag on a Japanese recovery as the central bank expects declines to continue for years.… http://online.wsj.com/article/SB125675711133513901.html#mod=todays_us_page_one http://online.wsj.com/article/SB125683715169816447.html#mod=todays_us_page_one http://online.wsj.com/article/SB125653489819907659.html http://online.wsj.com/article/SB125651482563207031.html India’s central bank, the RBI, kept rates steady but increased reserve requirements to combat inflation and prick a small bubble in banks and other shares… http://online.wsj.com/article/SB125662331956909743.html Myths about http://www.newsweek.com/id/218290/output/print S&P forward earnings estimates are silly stupid and imply a return to 2007 earnings, when growth was 3% and unemployment was 4%... http://www.hussmanfunds.com/rsi/forwardearningsmargins.htm Education in the Arab world is much worse than many dirt-poor African countries, as countries with high per capita incomes keep their people’s stupid… http://www.economist.com/world/middleeast-africa/displaystory.cfm?story_id=14660446 http://www.economist.com/world/middleeast-africa/displaystory.cfm?story_id=14664647 Global imbalances are
bad, acknowledges Ben Bernanke, but he barely squeaks about the difficult
American solution of more saving and less deficits … http://www.federalreserve.gov/newsevents/speech/bernanke20091019a.htm State coffers and tax receipts are a great micro level indicator of the fiscal and macro situation in the US, and they still point to bad times… http://online.wsj.com/article/SB125590603918293129.html#mod=todays_us_page_one Too big to fail results from a failure of antitrust authorities to do their job, says Alan Greenspan, and we need to break these institutions up to let markets work… http://www.bloomberg.com/apps/news?pid=20601087&sid=aJ8HPmNUfchg Health care reform hit upon two issues in the US Senate: first, should a single payer system exist, and second, should health insurers keep their antitrust exemption… http://online.wsj.com/article/SB125554568163185445.html#mod=todays_us_page_one Falling household income, as measured by total weekly pay for production workers, has fallen the most since the Great Depression (much more than 1981-82)… http://online.wsj.com/article/SB125554568163185445.html#mod=todays_us_page_one End the Fed says Congressman Ron Paul, as it is accountable to no one by printing money, entering into foreign treaties, and propping up banks with trillions… http://dealbook.blogs.nytimes.com/2009/10/02/the-fed-fighter-dealbooks-ron-paul-interview/ The future of
Europe came down to the http://www.economist.com/world/europe/displaystory.cfm?story_id=14585996 While the drop in output is ending, says the IMF’s World Economic Outlook,
deleveraging continues, jobs will stay dismal, and mild deflation is
likely… http://www.imf.org/external/pubs/ft/weo/2009/02/index.htm The super secret
National Security Agency (NSA) is recording every call you make and
e-mail you send in a giant $2 billion data center in http://www.nybooks.com/articles/23231 Wealth and not financial claims is what policy should be based on – so stop looking at markets and start looking at output and the distribution of it… http://www.economist.com/businessfinance/displaystory.cfm?story_id=14587262 http://www.economist.com/world/asia/displaystory.cfm?story_id=14587280 http://www.economist.com/world/asia/displaystory.cfm?story_id=14586982 Integration of
immigrants is a hot issue in http://www.spiegel.de/international/germany/0,1518,654921,00.html http://online.wsj.com/article/SB125538264403681127.html#mod=todays_us_page_one Global economic barometer Cargill is the world’s largest agricultural firm and trader, and it still expects economic weakness into 2010… http://www.ft.com/cms/s/0/f1ba0024-b800-11de-8ca9-00144feab49a.html A 3% growth recovery is what Larry Summers and many NABE economists expect, but the biggest risk is “weak demand”… http://online.wsj.com/article/SB125535786715480387.html#mod=todays_us_page_one Deficits
don’t matter in the short run, says Goldman Sach’s
chief economist O’Neill, and it’s more hurtful to talk about
cutting back in a recession… http://www.bloomberg.com/apps/news?pid=20601087&sid=afVxdR_ZTlN4 A bad growth outlook is what one of the best economic forecasting firms predicts, unlike Obama’s Larry Summers who is poofing up growth… http://www.bloomberg.com/apps/news?pid=20601087&sid=aKf0E1HUDo.E A recent study about the economics of prostitution suggests that policemen are more likely to sleep with prostitutes than arrest them… http://www.chicagobooth.edu/capideas/apr09/4.aspx Naxalite rebels attacked and killed 17
policemen in the Indian state of http://online.wsj.com/article/SB125502405241773805.html#mod=todays_us_page_one http://www.nytimes.com/2009/10/09/business/09shop.html?hp=&pagewanted=print A smart policy solution for health care, writes Harvard’s Marty Feldstein, would be one that actually tackles the core incentive problems at the current system’s core… http://www.washingtonpost.com/wp-dyn/content/article/2009/10/07/AR2009100703048.html A fix for youth unemployment would put apprenticeships at the core and look at the successful German model… http://www.spiegel.de/international/business/0,1518,druck-653946,00.html The Fed’s exit strategy is discussed in two recent speeches by FOMC members, and no timeframe or small list of variables will determine the Fed’s action… http://www.federalreserve.gov/newsevents/speech/warsh20090925a.htm http://www.federalreserve.gov/newsevents/speech/kohn20090930a.htm Demographics show not all emerging markets are equal, so Brazil and India will prosper whereas Russia and Central Europe have already peaked… Oil states ditch the dollar – many Arab states have moved from dollar baskets to mixed currency baskets for oil trading… http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html Forget growth rates. What matters are absolute levels of debt, spending, unemployment, public spending and so on that matter, says Pimco’s El-Erian… http://www.ft.com/cms/s/0/1551b95e-ac59-11de-a754-00144feabdc0.html Employment will stay in the dumps if you just look at the numbers, says the newsletter writer John Mauldin. Job growth creation statistically just can’t keep up with the destruction of the last 2 years… http://www.frontlinethoughts.com/printarticle.asp?id=mwo092509 The DDRs – delevering, deglobalization, and reregulation – will dominate over the next few years predicts Pimco’s Bill Gross, as America returns to making things instead of paper… French political revenge –President Sarkozy sues an unelected former prime minister on corruption charges in a trial mixing politics, business, and spies… http://www.economist.com/world/europe/displaystory.cfm?story_id=14512551 Giant bronze statutes are what the dalit/untouchable Chief Minister Mayawati of the Indian state of UP, and a potential future Prime Minister, is building for herself… http://www.economist.com/world/asia/displaystory.cfm?story_id=14506564 China’s hot air stimulus will rut out soon as local authorities have overspent stimulus funds on massive investment projects, says HSBC analyst Qu Hongbin… http://www.bloomberg.com/apps/news?pid=20601087&sid=ar8O5ctqZ4lc |
John Elkann is the 35-year old leader of the Fiat business empire, as his famed grandfather Gianni Agnelli appointed him head when he was 29… http://www.bloomberg.com/apps/news?pid=20601109&sid=aVqPIpdyMJGQ An ex-Prime
Minister flies to the http://www.ft.com/cms/s/0/68949294-c4d7-11de-8d54-00144feab49a.html The EU’s new
President may be http://www.ft.com/cms/s/0/e6f33c6e-c2eb-11de-8eca-00144feab49a.html http://www.ft.com/cms/s/0/2259ccee-c262-11de-be3a-00144feab49a.html Get the money was Peter Frampton’s rule as he represented some of the biggest rock stars of his generation… http://www.nytimes.com/2009/10/27/arts/music/27anthony.html?ref=obituaries One of the world’s best jet designers was Peter Whitcomb, who came up with a design for jets to fly faster and cheaper, and to break the sound barrier… http://www.nytimes.com/2009/10/26/us/26whitcomb.html?ref=obituaries A diary of a depression is what the lawyer Benjamin Roth wrote and his son published recently, where it was a long double-dip “w”… http://www.nytimes.com/2009/10/17/business/17nocera.html?pagewanted=print David Shapiro was a class action lawyer who decided that it was just about the money, and that mediation was a better way to solve social conflict… http://online.wsj.com/article/SB125600252175595651.html#mod=todays_us_page_one David Hockney is the greatest living British painter; from http://www.nytimes.com/2009/10/18/arts/design/18kino.html?em=&pagewanted=print Justice Stevens has been on the court for over 35 years and has moved from being a centrist moderate to the leader of the liberals and a wily coalition leader… http://www.usatoday.com/news/washington/judicial/2009-10-18-stevens-supreme-court-justice_N.htm Husbands helping at
home get more sex according to a new study in the Journal of Family
Issues, which is no surprise… Raj Rajaratnam has been charged in the biggest insider trading case the SEC has bought since the days of Ivan Boesky… http://online.wsj.com/article/SB125570373292090093.html?mod=WSJ_hps_LEADNewsCollection Howard Marks of Oaktree is one of the best investors around, and in a recent letter he urges people to think about value and cycles, the latter being what investors forgot… http://www.oaktreecapital.com/MemoTree/2009_01_09_The%20Long%20View.pdf Ted Turner feels like a dummy for buying the hype and selling his good CNN cable assets for the junk Time Warner stock and the worse AOL stock… http://www.bloomberg.com/apps/news?pid=20601109&sid=afyLWnoS2WlA Bruce Wasserstein, the best M&A banker in a generation, died this week after a surprise hospital visit… http://dealbook.blogs.nytimes.com/2009/10/14/bruce-wasserstein-lazard-chief-dies/?hp Captain Sully Sullenberger prepared meticulously over his career to
avoid accidents, and he did as he landed a US Airways flight in the Jamie Dimon’s poor people skills are cited as one of the few flaws of a brilliant banker and operator who emerged stronger from the financial crisis… http://www.ft.com/cms/s/0/b502d36a-b763-11de-9812-00144feab49a.html Lionel Pincus started a private equity firm to invest in any company, from startups to larger industrial concerns, and attracted good people with his discreet manner… http://www.nytimes.com/2009/10/12/business/12pincus.html?ref=obituaries The world’s best camera repairman was Marty Forscher, who catered to stars and civil rights advocates alike when their beloved devices broke… http://www.nytimes.com/2009/10/11/nyregion/11forscher.html?ref=obituaries Calm assertive energy is what makes Cesar Milan, once a poor undocumented immigrant, into a business success and a tamer of dogs and CEOs alike… http://www.nytimes.com/2009/10/11/business/11dog.html?em Two Nobel prize winners who wrote about sensible institutional arrangements, neither governments nor markets, that can work… http://www.nytimes.com/2009/10/13/business/economy/13nobel.html Citi’s $100 million man is going to Occidental, where the CEO makes a mere $50 million, in a bad deal for Citi… Wu Jinglian was one of the few and brave Chinese economists who encouraged market reforms – now Maoist leaders and crony capitalists are trying to destroy him… Treasury Secretary Geithner’s numerous calls to the heads of Goldman Sach, JP Morgan, and Citi raise questions about the undue influence big banks have on the Obama administration… http://finance.yahoo.com/news/Wall-Street-speed-dial-gets-apf-3283001415.html?x=0 Kevork Hovnanian was an entrepreneur and homebuilder who had a simple model: build bare bones homes and keep prices low… http://www.nytimes.com/2009/09/26/business/26hovnanian.html?ref=obituaries&pagewanted=print One of the dueling Ambani billionaire brothers gets religious and appeals to his brother after visiting a holy Indian shrine… Craig Johnson was one of the best lawyers Silicon Valley had, and he helped build the entrepreneur friendly culture that exists today… http://online.wsj.com/article/SB125486675503468885.html Hotel King Sam Chang has built more hotels in NYC than any developer ever, and he used a new model of micro hotels for the budget consumer… http://www.nytimes.com/2009/10/04/nyregion/04chang.html Starwood’s Barry Sternlicht is the proud owner of dozens of half-built condo projects, as his group has won the bidding for the failed Corus Bank… http://online.wsj.com/article/SB125487177939169189.html Sam Zell was taken to the cleaners by a tenant, Black and Veatch, who bought their leased building from him for a song… http://online.wsj.com/article/SB125366697550532599.html Stephen Jen,
former Morgan Stanley currency strategist, thinks investors consistently
under-appreciate the http://www.bloomberg.com/apps/news?pid=20601109&sid=aAd8Yfd2ZVXM Larry Summers deserves credit for coming back into government with a lesser title, but has the White House really been doing the right things to jumpstart the economy… http://www.newyorker.com/reporting/2009/10/12/091012fa_fact_lizza?printable=true Gap founder Don Fisher died last weekend, after taking a single Levis jeans outlet into a global chain with $16 billion sales and creating three great brands… http://online.wsj.com/article/SB125408495328144473.html?mod=rss_Today%27s_Most_Popular Peter Thiel’s Clarium Capital is among a small group of hedge funds who don’t at all believe in the economic upturn and are betting against America… http://online.wsj.com/article/SB125409165677744755.html#mod=todays_us_money_and_investing Marc Dreier tells all – how expectations of early success in Harvard and Yale led to mediocrity and a desire to buy his first beach house through fraud… http://www.vanityfair.com/business/features/2009/11/marc-dreier200911?printable=true Justice Louis Brandeis was one of the greatest Supreme Court judges, as he balanced the needs of businesses and workers, government and individuals… http://www.nytimes.com/2009/09/27/books/review/Dershowitz-t.html http://www.nytimes.com/2009/09/27/books/excerpt-louis-d-brandeis.html?ref=books&pagewanted=print |
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