Archive for January, 2006

“Goodbye Greenspan” art exhibit

Posted by WSF On January - 31 - 2006

Alangreenspanerincrowepainting01_1Painter Erin Crowe, who recently made a splash by painting a series of portraits of Alan Greenspan, is celebrating his retirement with a "Goodbye Greenspan" show at the Broome Street Gallery in New York City where she’s showing 35 of her Greenspan works.  The cost of the paintings?  $800-$12,500.  The show runs until February 5.

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Deja vu: J.P. Morgan Chase Investment Banking reshuffling

Posted by WSF On January - 31 - 2006

Jpmorganchaselogo01_2After reporting not so rosy fourth quarter results, JP Morgan Chase is restructuring the management of its investment banking group.   It’s the second time in 15 months that the unit has faced upheaval.

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  • Banker to Receive $135 Million [Wachovia Vice Chairman Wallace Malone]
  • Alan Greenspan in Play? Headhunters Can Dream
  • Trump Says ‘Times’man Missed Billions Because of Blonde
  • Banker’s Batty Request to Yanks [Morgan Stanley Chief Technology Officer Guy Chiarello]
  • VSS is Quitting Advisory [Veronis Suhler Stevenson]
  • Prince called Arabian Buffett – Globe and Mail
  • Ad World Yapping Over WPP Dealings
  • Bagging Fakers and Sellers;  Makers of Luxury Goods Try New Legal Tactics Against Those Who Aid Counterfeiters
  • Scudder Funds to Get New Name – Brand to Reflect DWS Role; Shareholders Will Weigh Host of Structural Changes
  • The ultimate epitaph

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Gawker.com: “Speaking of Big Swinging Dicks”

Posted by WSF On January - 30 - 2006

Gawker_logo01_1Always good for a laugh, Gawker.com had a post on Friday afternoon from Craig’s List, purportedly from a woman so desperate for a job with a hedge fund that she was offering to perform certain ’services’ to secure such a position…

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  • Goldman names new operating chief for Europe
  • Demand for young lawyers pushing up pay
  • Big biz traded on terror; Card giant tapped relief aid for 400G
  • Hedge Funds for Yale, but Not for Everybody

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Dresdner5women01Dresdner Klienwort Wasserstein isn’t taking the $1.4 billion sex discrimination suit filed against them by six female employees lying down.  They’ve filed court documents accusing the group of courting the press for publicity and attempting to smear the company’s reputation.  Five of the six women who filed suit are shown in the picture.

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Testosterone01_1 According to a new study, "Sex Matters: Gender and Mutual Funds", by Stefan Ruenzi, an assistant finance professor at the University of Cologne in Germany and one of his Ph.D. students, Alexandra Niessen, there are differences in how men and women manage mutual funds….

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MBA’s are back in business

Posted by WSF On January - 30 - 2006

After a few lean years where some had begun to wonder whether getting an MBA was still a wise investment, it seems like the good times are back again.  MBA’s are back in vogue with the number of recruiters and applicants to MBA programs again on the rise.

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  • Merrill’s Funds Will Now Carry Princeton Name
  • DrKW denies sweeping job cuts
  • Deutsche Bank Top Private Equity Adviser in $246 Billion Year
  • Deutsche Bank’s Outsourcing Imperative 
  • Bondholders Wince as Issuers Turn to the Bank-Debt Market
  • Investment rivals bicker over common turf
  • Sloan: Trial by Fire—The Real Enron Lesson
  • Millionaire on hacking charge [Matthew Mellon, banking and oil fortune heir]

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Madmoneylogo01Wanna know what Jim Cramer is saying but can’t stand listening to that loud shrieky voice? Recaps of his shows and trackings of his picks are available online….

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Donaldtrump08How’s this for irony?  Donald Trump, the self proclaimed ‘largest real estate developer in New York’, apparently received 9/11 recovery grants earmarked to help small businesses.  He and several other large, well heeled entities including Morgan Stanley, Dell, The AXA Group, Ford Models. the Bank of China and The Rockefeller Group were able to get the funds because the Empire State Development Corp, the state agency doling out the grants ignored the federal definition of a small business and chose to use a much looser standard instead.

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Milken, Keating expert witness hired by Skilling

Posted by WSF On January - 29 - 2006

Danielfischel01_1Jeffrey Skilling has hired controversial heavy hitter  law professor and professional expert-witness-to-the-white-collar-crime-stars Jeffrey Fischel to testify at his Enron trial.

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Stockbroker completes solo Atlantic row

Posted by WSF On January - 29 - 2006

Levenbrown01 Leven Brown, an Edinburgh stockbroker with Stocktrade who had a dream of rowing solo across the Atlantic, and who sold his house and all of his possessions to fund his trip, successfully finished his journey yesterday.  He raised at least £100,000 for two charities — The One City Trust and The Sportsman’s Charity with the trip’s completion.

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  • Cantor Fitzgerald CEO quiet on BGC, eSpeed talk
  • Public Companies, Singing the Blues [Dan Loeb does dinner at Davos with other financiers]
  • Weisel faces delicate dance in pricing own IPO
  • India, Darling of Davos, Seeks Investment
  • Leading hedge fund manager forming industry group [Jim Chanos]
  • Dave Barry Explains Mortgages, Giant Eyeball, Trump’s Appeal
  • Lawyers probe Italian job at Sorrell’s WPP

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  • NYSE Plans More Mergers, Longer Hours, Thain Says
  • Microsoft’s chairman defends Google in China censorship row
  • More Heat On Hedge Funds; Regulators are probing trades by managers with inside access
  • Hundreds of Hedge-Fund Advisers Register With SEC
  • Hedge-Fund Hero? Maverick Attacks SEC Restrictions
  • A Passion to Be the 11th-Biggest Broker [Jefferies]

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BusinessWeek’s list of best selling business books

Posted by WSF On January - 27 - 2006

BusinessWeek has compiled lists of the December’s best selling hard and soft covered business books:

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  • In China, To Get Rich Is Glorious; More Chinese are becoming millionaires — and driving a fast-growing market for luxury goods
  • N.J. turns to hedge funds for pensions; The move is a first for the state retirement plan, which is trying to overcome a $30 billion deficit
  • Perella sees new firm earning $188 mln in 5 yrs -CNBC
  • Bush to tap finance experts for Fed board: sources
  • Savings Accounts for Health Costs Attract Wall Street
  • Lakshmi Mittal, man of steel

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HSBC plans leadership shake up in investmment banking

Posted by WSF On January - 27 - 2006

Hsbclogo01_1Bent on breaking into the top tier of global investmment banking firms, but having trouble doing so, HSBC is set to shake up the management of its investment banking unit.

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Sony pulls the plug on its Aibo robotic dog

Posted by WSF On January - 27 - 2006

Sonyaibo01_1We all know how attached people get to their pets –even if they’re sometimes mechanical ones.  Fans of Sony’s $2,000 never-have-to-potty-train robotic Aibo dogs are lamenting that Sony has pulled the plug on the mechanical man’s best friend.

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Morgan Stanley fills European M & A position

Posted by WSF On January - 27 - 2006

Morgan Stanley announced that Gavin MacDonald would fill the head of European M & A position that opened up when star banker Paolo Pereira announced he would be leaving to go to Joe Perella’s new boutique venture.

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  • Greenspan Set For Life After ‘Retirement’
  • Breach of Ethics – Morgan Exec Took Gifts, Home Fixes From Clients [Guy Chiarello, Morgan Stanley Chief Technology Officer]
  • Monster private funds on the way
  • Nasdaq Will Reduce Staff, Not Pursue LSE, CEO Says
  • Morgan’s European stars head for the exit
  • City warned of growing legal dangers
  • ‘Bermuda still has cachet’; Finance Minister confident Island’s reputation is not sullied by Sphynx, IPOC probes
  • Picasso Lures Hedge-Fund-Type Investors to Art Market
  • Hedge Accounting Gets On Regulators’ Radar

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  • Legg Mason’s Bill Miller Releases 4Q05 Shareholders’ Letter
  • Job merry-go-round starts turning for bankers
  • Argentina Battles Bond Holdouts In New Asset Freeze Case

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SAC’s Steve Cohen: ‘Upper Crust’, indeed

Posted by WSF On January - 26 - 2006

Those eagle eyed NY Post spies spotted SAC Capital founder and guzillionaire Steve Cohen doing a mundane task for himself: picking up a pizza….

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Paulopereira01_1 Another high profile Morgan Stanley banker has flown the coop.  This time it’s Paolo Pereira, MS’s head of European M&A who will be joining Joe Perella’s new firm.

On the flip side, Morgan Stanley has apparently managed to poach an investment team from hedge fund Millennium Partners, led by Michael Feldschuh.

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Tightwad03While a pay war on the West Coast is forcing associates’ pay rates upward, tightwad New York law firms appear to be having none of it….

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