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Developing story per WSJ. LAZ halted. And yet again, questions for the SEC on companies reporting potentially misleading health information on key individuals.
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WTF is Bruce Wasserstein?
Please remove yourself from this website.
Please remove yourself from your alter.
I simply asked who he is.
Let me Google that for you.
http://www.lmgtfy.com/?q=bruce+wasserstein
lol
Technically, you asked WHAT IT is, not who he is. Not only do you not know finance, but you don't know grammer.
So, please remove your head from your ass. And while your at it, please remove your community college degree from your wall.
"not only do you not know finance, but you don't know grammer."
Does he not know grammer or grammar?
LOLOLOLOLOL
errr....grammar shurely?
Since you asked what a W..ass..erstein is, the official definition is as follows:
A self-absorbed intolerant asshole with no sense of humor and a belief in their own know-it-all superiority over those they consider to be their inferior, which just happens to be practically everyone.
Their physical manifestion is found on websites where they cyber bully anonymously and demand all personally perceived trolls, zombies, or otherwise financial worms to either remove themselves from their prescense or at the very least, ....gasp, .....of all the horrors...., refrain from posting on such a snooty, snobby, way beyond their third grade educational comprenhension financail website.
Welcome to the slag heap nope-1004. Sadly this troll failed to watch Fight Club and see the message it imparted to those willing to percieve.
You are 100% right! That was completely inappropriate and totally unnecessary. I apologize to NOPE-1004, Tyler Durden, and the entire ZERO HEDGE community.
I was a total ass. I take full ownership of my actions, and I won't hide under a psudo-name OR post anonymously in order to not confront my wrong doing.
I was a dick, and I was wrong. I am sorry.
That's Bruce Springstein's name off-stage.
Just kidding. The Boss is immortal.
WADR, hate to be a heretic, but is there anyone but me that thinks that Bruce Springsteen is firmly in the league of other vastly overrated celebrities/musicians/sportsmen/politicians??
I mean what on earth is immortal about a 60+ year old man, in tight leathers, sticking his package in the face of the TV camera?
If it's me, I'll just shut up about him, sit down, look straight ahead.
Please, someone......
The Boss is a no-talent, gravel-voiced hack. "Pink Cadillac" is the Peter Gunn Theme redubbed, and "Glory Days" is a bad quasi-cover of "Jack and Diane." And have you heard that awful Christmas album? Unlistenable. The Boss is dead. Long live the Boss.
Badmouthing Springsteen = Badmouthing America
Then Springsteen is a bitx!
Google is lightning fast these days; he is the CEO of Lazard, which is a huge financial advisory and asset management firm.
was
Not to be a stickler for details, its bread and butter is banking, its a 2nd rate (at best) asset management shop. Some years ago there was talk that "Lazard" would spin off A.M. to someone else so shareholder got the pure play in banking...Lehman's name popped up every so often as a buyer to pair the LAM Equity management with the Lehman FI management (LAM FI probably would have been flushed)...good thing for LAM THAT didn't happen....
Not to be a stickler for details, its bread and butter is banking, its a 2nd rate (at best) asset management shop. Some years ago there was talk that "Lazard" would spin off A.M. to someone else so shareholder got the pure play in banking...Lehman's name popped up every so often as a buyer to pair the LAM Equity management with the Lehman FI management (LAM FI probably would have been flushed)...good thing for LAM THAT didn't happen....
RIP. Didn't know the man but it sounds as if he was one of the good guys. Can't really afford to lose too many of those since they are a rare breed.
Now I hate to change the topic but let me know if anyone wants me to record the CNBC special tonight airing at 7pm. It's called "DOW 10,000". I'm not sure what it's about but CNBC seems to be real excited about it. They are probably preparing the sequel already as I write this, tentatively entitled "DOW 6666, WTF HAPPENED?"
Should be called Dow 10,000 - Part Deux.
Perhaps, Dow 10,000 2.0.
Sort of like QE 2.0
And like Tyler specualted, look for a 3.0, 4.0 and 5.0 on both.
Or Service Pack 2 (SP2) for all the Mac haters.
A fat guy who overindulged in just about everything edible, contributing to his own cardiac arrest.
RIP
For those who were not aware of his life.
RIP Old friend
Bruce Wasserstein (born December 25, 1947 in Brooklyn, New York, died October 14, 2009)[2] is an American investment banker and businessman. He is a graduate of the University of Michigan, Harvard Business School, and Harvard Law School, and is currently the Chairman and CEO of Lazard.[3]
Born in Brooklyn, New York, to Morris Wasserstein, a wealthy textile executive, and his wife, Lola Schleifer, Wasserstein is one of five children. He has two late sisters: pioneering businesswoman Sandra Meyer and Pulitzer Prize-winning playwright Wendy Wasserstein, whose daughter he is now raising. His maternal grandfather was Simon Schleifer, a prominent Polish Jewish playwright who moved to Paterson, New Jersey and became a Hebrew school principal.
Wasserstein has helped broker more than a thousand transactions worth $250 billion since the 1980s. Starting his career as a Cravath, Swaine & Moore attorney, he later rose to co-head of First Boston Corp.'s dominant merger and acquisition practice.
He eventually formed investment bank boutique Wasserstein Perella & Co., which he sold in 2000, at the top of the 1990s bull market, to Germany's Dresdner Bank for about $1.4 billion in stock.[4] He left the unit Dresdner Kleinwort Wasserstein (formed by merging Dresdner's UK unit Kleinwort Benson with Wasserstein Perella) to take the job at Lazard Frères.
In 2005, Wasserstein completed the initial public offering of Lazard after getting into a corporate fight with Chairman Michel David-Weill who said that he regretted having ever hired Wasserstein.
Bruce Wasserstein controls Wasserstein & Co., a private equity firm with investments in a number of industries, particularly media. In 2004, he added New York Magazine to his growing media empire. In July 2007, he sold American Lawyer Media to Incisive Media for about $630 million in cash.
You forgot that he divorced his wife last year and married a 20 something asian girl...not a smart move with a bad internal clock!
Au contraire; With only one year to live, wouldn't you prefer to risk your life eating blow fish; than wasting away on a low sodium diet, that's high in fiber? 20 something Asian girls are the new Anna Nicole Smiths.
Double
Alternatively, he knew he had little time left, so made most of it.
Is it actually fair to halt trading on LAZ just on account of this? I know the idea is to prevent a wild swing in shares... but who the hell cares? Would they halt trading if -- oh let's just say -- their offices were raided by the FBI? Probably not, right?
You ABSOLUTELY have to halt trading in LAZ after Bruce dies. How much does LAZ really have left after he's gone? Keep in mind, he was the only reason why LAZ was advising Kraft on the Cadbury acquisition.
So an example of a company that is really just a person. Might be more of a risky investment than one might assume. And regular updates on the guy's health make more sense -- and lying about same more of an issue -- but his health is perhaps just one thing to worry about. Does he walk a dog? If so is he ever alone in a park after dark? Does he cross the street safely? Does he drive himself places, or does he have a driver, and does the guy pack a weapon "just in case"?
What are people investing in here? Why is their money tied up in a guy's health? Why is this company even listed on the Exchange if there's no tradeable value without the meat bag?
And then there's Apple, Inc == Steve Jobs, right? Maybe not quite the same comparison (Apple has other assets like an operating system) but you gotta wonder.
Cougar, you're absolutely right. My bad. I was just trying to put things into perspective for you. Looks like you've done that yourself pretty well.
no you don't have to halt trading....the market
will take care of itself if in fact it ever
becomes volatile...if it craps out oh well too bad
Information disclosure rules - material event or whatever the technical regulatory rule is.
So, some "rules" still apply? Who knew? With everything else that's been going on, it would be almost no surprise if someone made an attempt to try a "Weekend @ Bernies" scenario if the story hadn't gotten out first.
never met him though he seemed erudite and gentlemanly in his interviews...condolences to his friends.
RIP.
Hope you enjoyed the run and feel that you checked out at the top of your game.
Now you get to watch the rest of this unfold from the prime box seats.
hardly
From the WSJ:
LAZ, along with other smaller b/d's like Jefferies have a chance to grow since they no longer are competing against LEH or BSC. BW was a shrewd dealmaker who will be missed. Readers here should know better.
Recent story in my neck of the woods of how Lazard destroyed Harry & David's by taking it from $0 to $250 million in debt. No one in PE is a saint.
Where was the CEO on that deal?
[where was the CEO] Likely out front of the company HQ running up the Jolly Roger. Everyone is a pirate any more, siezing what goods they can get.
Exactly, $250M in debt is good for my company if $50M of it goes into my pocket.
Bingo!
But it was a Jolly Roger made of white and dark chocolate, with a pretzel rod for a flag staff.
With a name like "Bid 'Em Up Bruce," don't think this guy was in it for the shareholders. That's not speaking poorly of him; it's just pointing out fact.
Precisely.
Nice of Brucie trying to hatchet job ZH before his own untimely demise. That being said I'll let the big guy upstairs judge him.
he truly was the real life gordon gekko. greed is good.
All these banksters have to die before all the Bush estate tax breaks expire. The sooner they die the better.
+1
+1
We can only hope some crazy waiter poisons the soup at the Four Seasons during lunch.
The Great One’s go in pairs
Captain Lou Albano Dies at 76
http://buzz.yahoo.com/buzzlog/93095/?fp=1
Actually Great Ones go in threes.
http://www.javno.com/slike/slike_3/r1/g2007/m04/x82138246418959171_9.jpg
http://www.youtube.com/watch?v=BS87g9b8jTA
Anyone involved in dismantling companies or mergers and acquisitions like Wasserstein/Perella did, to 'maximize' shareholder value is not missed at all. What these vultures did, simply to eliminate G&A expenses, and take their pelf from that, is obscene.
His efforts were in the forefront of the juggermnaut to cause the demise of many an american institution through the taking on of junk debt, contributing to the collapse of employment in the hundreds of thousands. And for what? A big fee?
Some day the builders of organic companies may come to their own Valhalla where the likes of Brucie will lick their boots.
And i thought their press release:
...“His condition is serious, but he is stable and recovering,” Lazard said in the statement distributed through Business Wire...
was about the economy.
Now he's dead and
I KNOW THEY MEANT THE ECONOMY
Someone with an estate the size of Bruce's has already hired lots of tax advisors to set up trusts that will never NEVER EVER trigger the estate tax rules.
Is there any relationship between Wasserstein and General Growth Properties or Miller Buckfire that would cause GGP to spike after his death was announced?
The CEO of Harry & David is no pirate, and for sure Wasserstein was no saint.
this is sad; he had all this money and now he is dead. villfied by many, possibly he will be missed by many also. but what good will that help him where he has gone? how very sad.
When insulting someone's ignornance it wuld be wize to spell grammer correktly.
How is this a "developing" story? Is Wasserstein going to rise from the dead soon?
Bruce went quietly. Will the rest be so lucky?
good riddance
good riddance
In a roundabout and totally serendipitous way, I confirmed the identity of one "Tyler Durden" today. TD is, in fact, the Bulgarian immigrant whom the New York Magazine and writer Joe Hagan reported him to be. Why? Because I posted a comment anonymously when I could not log in, but the comment was filtered. In it I made admittedly tasteless light of the fact that shortly after the New York article re Zero Hedge, owner Bruce Wasserstein passed. The verb I used was that Wasserstein had been Markov'd. Other than Renaissance men with the sense of the absurb, or former Company men who have always followed the exploits of the KGB turned FSB (or Darzhavna Sigurnost, ??), the only people who know off the top of the head who Georgi Markov is would be Bulgarians.
Your secret is safe with me.
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