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DealBreaker (Free subscription) | 11/19/2009
In the New York magazine profile earlier this month , Andrew Ross Sorkin said that one of the ways he's able to land big sources is by not being "adversarial or coming to the table with an ax to grind." The piece also claimed that many of ARS's colleagues at the Times think it has to do with the fact that he's too buddy-buddy with his high-profile pals, and goes way too easy on them in print....
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StreetInsider.com News Articles (Free subscription) | 11/19/2009
StreetInsider.com Best of the Web: Hedge fund guru John Paulson's letter to investors on third quarter performance. Paulson's comments in the letter that Bank of America (NYSE: BAC) could still double made the rounds yesterday. The firm also said their 5 gold mining position have upside potential in a flat gold price environment, but would rise even more in a higher price environment. (NYSE: AU),...
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DealBreaker (Free subscription) | 11/19/2009
John Mack said last night at panel discussion hosted by Bloomberg News and Vanity Fair that as an (outgoing) chief executive of a major bank, he welcomes, nay, begs for increased regulation by the Fed. He illustrated this need with a little story about how during the credit boom, he almost did a deal at 8 times leverage, and then someone else came in and did it at 10. And you know what that showed...
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DealBreaker (Free subscription) | 11/18/2009
Charlie Gasparino called Lloyd Blankfein a "twerp with half a nut" the other night and if you thought that was just CG being affectionate, you thought wrong. Chaz is sick of "this guy." He's sick of his charitable contributions, he's sick of him running his mouth, he's sick of the look on his face. It used to be the when Wall Street execs got under his skin Charlie would simply...
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Denver Post (Free subscription) | 11/18/2009
Morgan Stanley Chairman John Mack is becoming a YouTube sensation. A 26-minute video of a talk he gave on "Leadership in Crisis" at University of Pennsylvania's Wharton School last month has
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felixsalmon.com (Free subscription) | 11/09/2009
The WSJ has an interesting Ken Lewis profile today: If there was a bank executive who seemed to have the mettle to withstand today's regulatory and market pressures, it was Ken Lewis. The Mississippi native clawed to the top of Bank of America. After succeeding his mentor, Hugh McColl Jr., as chairman and CEO in 2001, Mr. Lewis kept up a blistering pace of acquisitions and tight control of operations...
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DealBreaker (Free subscription) | 10/29/2009
Soooooo. Here's what Jimmy Cayne had to say about about a bunch of some notable CEOs, as noted by noted by Charlie Gasparino's new book, When Mooks Fail : Cayne usually had nothing but disdain for most of his fellow CEOs on Wall Street. He had once referred to former NYSE chairman Dick Grasso as a "pig" for his attept to cash out his $140 million retirement package even after Cayne, then...
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DealBreaker (Free subscription) | 10/26/2009
$$$ "Raj has retained John Dowd of the Washington, D.C.-based firm Akin Gump to represent him going forward, and we are pleased Raj will continue to get great legal representation from such a fine group of lawyers," Mr. Walden said in a statement . "Rest assured, his team will not miss a beat and is already well prepared to help him fight these charges and clear his name." [Dealbook]...
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My left wing (Free subscription) | 10/22/2009
Rupert Murdoch's cabloid Orcs--Hannity, O'Reilly, & Beck, e.g.--are all in a snit because the Obama regime is calling 'em out as the seditious assholes they are. Stung apparently by the criticism, the Orcs of Faux Nooz are accusing Obama of reviving that old Nixonian trick, the "enemies list." ( Intriguing, innit, that when the Cretino-fascists need to revile someone, they compare the...
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Today With President Barack Obama (Free subscription) | 10/22/2009
If you ask me, these execs ought to work for minimum wage until they get their house in order. Think of the lessons they'd learn. Obama's pay czar (that's right Beck: CZAR) is set to order pay cuts: The Obama administration will soon order the nation's biggest bailed-out companies to drastically cut the pay packages of 175 top executives, a senior administration official confirmed to CNN Wednesday....
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DealBreaker (Free subscription) | 10/21/2009
I told her that it was intended to be a compliment à la you're the Money Honey but powerful and in leather and carrying a whip but I don't think it helped much. MDubs did concede, however, that "it could be worse" and that her mother "loves" the moniker which really? Is all we're after here: the mom endorsement. Unfortunately Vikram Pandit was not present at the party last...
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The Reasoned Sceptic (Free subscription) | 10/16/2009
Yesterday afternoon I happened to catch Bill Griffeth's fawning, softball interview with Morgan Stanley retiring CEO John Mack. I find myself unable to disguise my total disgust with CNBC's continued glorification of inept CEOs , including sympathizing over how, in this case, Mack struggled to avoid his firm's demise, while carefully avoiding any question over Mack's responsibility was in leading his...
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DealBreaker (Free subscription) | 10/15/2009
In case there was any question as to whether or not Andrew Sorkin put the words into the Morgan Stanley CEO's mouth, John Mack has confirmed to Bill Griffeth that yes, after telling the then New York Fed chair that he was a bit occupied working out a deal with the Japanese last September to save his firm and didn't have time to talk, what he said Tim Geithner could do, instead of continuing to call...
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DealBreaker (Free subscription) | 10/12/2009
As you're aware, John Mack is retiring at the end of this year and come January 1, James Gorman, who currently runs the firm's brokerage unit, will take over as CEO. This has a gaggle of employees supposedly all nervous about what the change at the top might mean. Namely they're worried about whether or not Big G will have it in him to take on enough risk to "regain lost ground against Goldman"...
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DealBreaker (Free subscription) | 10/09/2009
Review Of Citi Draws Wary FDIC Response (WSJ) FDIC officials are wondering just how rigorous the outside review of Citi and its management was, considering the report claimed everyone, including Vikram, was doing a bang-up job (Bair and Co were expecting to be told to burn the place to the ground and start over). Morgan Stanley Back In Black, But Goldman Dominates (Reuters) Why can't Lloyd Blankfein...
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