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New York Times To Cease Providing Monthly Revenue Updates
Submitted by Tyler Durden on 01/28/2009 17:27 -0400
In a quest to "improve" transparency into its business, the New York Times will cease providing monthly sales updates beginning this month, and only give clarity on a quarterly basis said the CEO on a phone call this morning... Next quarter we assume this practice will be adjusted to providing any sorts of updates to once a decade.
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Paging Anton Valukas: Dick Fuld Secretly Transferred Jupiter Island Home To Wife
Submitted by Tyler Durden on 01/23/2009 23:42 -0400While John Thain will be enjoying his creme of the crap status of reviled interior decorators for some time, Dick Fuld is about to upstage him in the shady asset transfer category. Cityfile has broken the following bombshell: the Gorilla's $13 million home on Jupiter Island, which was held by both Mr and Mrs Dick, was recently transferred singly to Kathy. Dick sold his portion of the house on 265 S Beach Rd, Jupiter Island to his wife for the princely sum of $100.
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Update: Standard and Poor's Keeping GE's AAA Rating
Submitted by Tyler Durden on 01/26/2009 14:41 -0400In a desperate attempt to post the funniest thing this morning/pander excessively, S&P has decided to keep GE's and GE Capital Corp's pristine AAA rating. The "rating" agency notes the AAA debt rating is not "immediately affected" by the most recent earnings. However, it does note that there are signs that 2009 will be even more difficult than when S&P had looked at the two previously on Dec. 18.
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Streamlining Watch: Texas Instruments to Fire 12% of Workers
Submitted by Tyler Durden on 01/26/2009 22:37 -0400"The streamlining will constitute of 1,800 layoffs and 1,600 voluntary retirements and departures."
Voluntary??? No more Friday donuts?
Full PR here.
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Taxpayers: 1; Private Jets: 0
Submitted by Tyler Durden on 01/27/2009 15:25 -0400
Citigroup spokesman Stephen Cohen has confirmed in an interview today that Citigroup "has no intent to take delivery of any new aircraft," and promptly declined to comment beyond the statement.
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SAC Loses Chief Psychiatrist, Underwater Portfolio Managers Elsewhere Gain Peace and Serenity
Submitted by Tyler Durden on 01/28/2009 02:28 -0400
If you have ever wondered how one can feel calm, relaxed and empowered after blowing a cool $100 mill on the basis trade that the Merrill salesguy was pitching incessantly as totally risk-free, after ingesting an elephant dose of estrogen in an office with the climatic characteristics of Vladivostok, then wonder no more, for a wealth of information, outsider and vice versa, and a comfy leather coach are about to be fully ac
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YTD Hedge Fund Performance
Submitted by Tyler Durden on 01/24/2009 17:10 -0400Despite it being only 20 days into the year, some hedge funds have already posted their performance. Some notable YTD performers:
Stratus Fund: 1.81%
Traxis Fund: -5.71% (We hope Barton Biggs' book profits are better than his hedge fund's)
Moore Global: 2.21%
Moore Emerging Markets: -1.62%
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Vikram To Fly in Style As Citi Teeters On The Edge
Submitted by Tyler Durden on 01/26/2009 15:10 -0400
NY Post has broken the news that the bank which is currently suckling on $45 billion of taxpayer money has just completed the purchase of a Dassault Falcon 7x jet for $50 million. We can just smell the Barney Frank hearing on this one.
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Standard n Poors Flips, Downgrades Entire HY Energy Space
Submitted by Tyler Durden on 01/26/2009 22:47 -0400
Downgrade casualties:
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Taxpayers: 1; Private Jets: 0
Submitted by Tyler Durden on 01/27/2009 15:25 -0400
Citigroup spokesman Stephen Cohen has confirmed in an interview today that Citigroup "has no intent to take delivery of any new aircraft," and promptly declined to comment beyond the statement.
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Madoff Feeder Fund Scandal Moving West
Submitted by Tyler Durden on 01/24/2009 17:48 -0400
...To Los Angeles. The latest victims are 91 year-old Zsa Zsa Gabor, together with her ninth, and 30 years old younger husband, Frederic von Anhalt.
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Vikram To Fly in Style As Citi Teeters On The Edge
Submitted by Tyler Durden on 01/26/2009 15:10 -0400
NY Post has broken the news that the bank which is currently suckling on $45 billion of taxpayer money has just completed the purchase of a Dassault Falcon 7x jet for $50 million. We can just smell the Barney Frank hearing on this one.
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- 978 reads
Standard n Poors Flips, Downgrades Entire HY Energy Space
Submitted by Tyler Durden on 01/26/2009 22:47 -0400
Downgrade casualties:
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The Truth Behind Private Jets
Submitted by Tyler Durden on 01/27/2009 15:53 -0400After Vikram's Falcongate incident, and of course the CEOs of the Detroit aka Default-3 companies making quite a PR splash in D.C. begging for bailout money after a cushy two hour flight in ultraluxury, the entire private jet industry will likely be under massive scrutiny with the resulting fallout likely to result in many new companies inducted into our Death Watch list.
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