• Possibly Imaginary CFO Grounds For Very Real Fraud Lawsuit Link
    dealbreaker Wed 18 Sep 2019 18:31

    In June 2016, Viking Energy Group executive chairman Tom Simeo wrote to the company’s CEO to suggest he be named acting CFO of the company. It seemed a reasonable enough request, given, as Simeo put it, he had “been handling the filing’s [sic] for years.”

    This would hardly seem worthy of mention in a Securities and Exchange Commission lawsuit, save for the fact that at the time Simeo wrote those words, Viking had an acting CFO. Had had her for more than three years, in fact. Ever since Simeo, who was then Viking’s CEO, had appointed her.

  • RT @ThorntonMcEnery: Apparently, @GoldmanSachs interns don't want to legalize recreational weed, which is ironic considering that they're s…
    dealbreaker Wed 18 Sep 2019 17:46
  • Goldman Sachs Interns Want 8 Hours Of Sleep A Night And Use Their Mom's Netflix Login But Don't Want Weed To Be Legal Link
    dealbreaker Wed 18 Sep 2019 17:41

    The Goldman Sachs summer intern survey --an opportunity for all the basic dads at 200 West Street to ask some youths what the future looks like-- is out, and the results are actually almost interesting...insofar as it appears that Gen Z is wholly unprepared for a life working at Goldman Sachs.

    Let's dive in, shall we?

    What kind of jumps out at you first is that 54% of the interns surveyed at Goldman this summer are women, and that at least looks like statistical progress. We're also a little tickled that the future Alphas of finance are still reading "The Alchemist" and are more than likely still using the dime store capitalist mysticism contained within on first dates with first-year analysts at Credit Suisse who they really aren't all that interested in. We also like that 65% of them are still using their parents' accounts to stream some kind of video content and that 66% of them would prefer to stay in a hotel than be caught dead in some ratchet Airbnb like their...

  • Jay Powell Has It Hard Enough, You Guys Link
    dealbreaker Wed 18 Sep 2019 14:00

    Jay Powell & co. are meeting today and tomorrow to decide what the Fed funds rate ought to be. Everyone knows that they’re gonna cut it a quarter percent to 1.75%-2%. So guess what repo rates, which are supposed to track the above, did today?

  • Opening Bell 9.18.19 Link
    dealbreaker Wed 18 Sep 2019 10:35

    Start your day with the Opening Bell powered by The Water Coolest. The Water Coolest is the preferred bathroom stall reading material of finance professionals. Sign up for the free daily newsletter.

    PERFORMANCE IMPROVEMENT PLAN

    Facebook is making a federal case out of it. Well, kinda. Zuck and the gang announced that they were creating a “Supreme Court”- like committee to moderate content on the site after facing criticism related to questionable posts (read: stuff you should send on Snap). 

    The “Oversight Board” will eventually be comprised of 40 members split into 5 member teams that will make decisions on cases chosen by the committee. 

    Oversight Board members and supporting staff will be paid entirely separately from the firm, and committee decisions will be binding, even if company exec oppose. The only way a decision can be overturned is in the event that it breaks the law. Like, the real law … unlike how this is the fake Supreme...

  • RT @ThorntonMcEnery: Came across another one of those “@WeWork is not a tech company” hot takes that are a dime a dozen this week. This one…
    dealbreaker Wed 18 Sep 2019 04:05
  • Dan Loeb’s Sony Break-Up Sequel No More Successful Than The Original Link
    dealbreaker Tue 17 Sep 2019 21:00

    Sony CEO Kenichiro Yoshida has spent months poring over the thing, even brought in experts to help his review. Alas, it was all to make Danny feel loved, because the script? Yea, it’s anything but.

  • Seth Klarman To Roll Around In PG&E Winnings While Paul Singer, Others Fight Over Charred Scraps Link
    dealbreaker Tue 17 Sep 2019 18:59

    Public records reviewed by The Wall Street Journal indicate Baupost stands to make hundreds of millions of dollars from its investment in insurance claims tied to the wildfires that pushed PG&E into chapter 11. Under a proposed settlement unveiled Friday, those insurance claims will be paid back at roughly 59 cents on the dollar, roughly twice what Baupost paid for some of them, records show…. A PG&E spokesperson said the new deal was an “agreement in principle” and the company would announce additional details when a full written settlement is reached.

  • Good News, Tesla Fans! Elon Is Giving Out Jobs Link
    dealbreaker Tue 17 Sep 2019 18:39

    Elon Musk’s Tesla Motors’ hiring activity graph over time looks a lot like the EKG of a day trader: tons of ups and downs with what appears to an eventual fade into oblivion:

  • Area Lawyer Will Apply What She Learned Representing Ken Griffin To Senior Market Oversight Role At CFTC Link
    dealbreaker Tue 17 Sep 2019 17:59

    A former lawyer for Ken Griffin’s Citadel Securities LLC and cryptocurrency exchange Coinbase has been tapped to lead the U.S. Commodity Futures Trading Commission unit that monitors derivatives markets and reviews new products.

    Dorothy DeWitt, who served in senior legal and compliance roles for Citadel, will oversee the CFTC’s division of market oversight, the regulator said in a statement on Tuesday. She has been a top attorney at Coinbase since last November, according to her LinkedIn profile.

  • RT @ThorntonMcEnery: New Man Group CEO has unblemished record of victorious leadership...wait, what have you heard? Link
    dealbreaker Tue 17 Sep 2019 16:39

    UK-listed investment company Man Group has appointed John Cryan, the former chief executive of Deutsche Bank, as its next chair.

    Cryan, who left Deutsche in April 2018 after more than three years trying to reverse the fortunes of the struggling German lender, will take up the role in January 2020….

    “My time on the board has already shown me that the company is well positioned to capitalise on its first-class technology and investment expertise, cementing its position as one of the world’s leading active investment managers.”

  • WeWork Takes A More Holistic And Forward-Thinking View Of Its Counsciesness Regarding The IPO Process Link
    dealbreaker Tue 17 Sep 2019 16:29

    WeWork’s parent postponed its initial public offering after investors questioned how much the company is worth and raised concerns about its corporate governance.

    The shared-workspace company—which had planned to begin a roadshow to market the shares as early as Monday ahead of a trading debut next week—shelved the offering until at least next month, people familiar with the matter said.

  • Famed Turnaround Artist To Lead Man Group Back To Glory Link
    dealbreaker Tue 17 Sep 2019 16:29

    UK-listed investment company Man Group has appointed John Cryan, the former chief executive of Deutsche Bank, as its next chair.

    Cryan, who left Deutsche in April 2018 after more than three years trying to reverse the fortunes of the struggling German lender, will take up the role in January 2020….

    “My time on the board has already shown me that the company is well positioned to capitalise on its first-class technology and investment expertise, cementing its position as one of the world’s leading active investment managers.”

  • RT @ThorntonMcEnery: The IPO delay makes total sense when you realize that "WeWork's parent" means "SoftBank," and "until at least next mon…
    dealbreaker Tue 17 Sep 2019 16:29
  • Opening Bell 9.17.19 Link
    dealbreaker Tue 17 Sep 2019 10:34

    Start your day with the Opening Bell powered by The Water Coolest. The Water Coolest is the preferred bathroom stall reading material of finance professionals. Sign up for the free daily newsletter.

    SEINFELD AND CHILL

    Kramer *bursts through the door* “Did you hear the news?”

    George: “News? News? What news?”

    Jerry: *waves hand dismissively* “Oh there’s no news. There’s never been any news.”

    George: "Kramer knows the news?! I gotta know the news. What’s the news, Jerry!”

    Netflix signed a deal with Sony that will give the streaming service global rights to the show about nothing. All 180 episodes will be available exclusively on Netflix beginning in June of 2021. 

    The contract will last for five years, and while the exact terms of the deal were not disclosed, the price has been rumored to be well north of the $500M NBCUniversal paid for 'The Office' or the $425M AT&T paid for 'Friends.'

  • RT @ThorntonMcEnery: Wall Street doesn't cancel people
    dealbreaker Mon 16 Sep 2019 21:13
  • RT @ThorntonMcEnery: "Your honor, I wasn't saying Mr. Unsworth has sex with children, I was saying that he looks like someone who definitel…
    dealbreaker Mon 16 Sep 2019 20:13
  • Elon Musk Would Like It Entered Into The LEgal Record That He Doesn't Know What "Pedo" Means Link
    dealbreaker Mon 16 Sep 2019 20:13

    Remember when Elon Musk was going publicly insane on Twitter and he called that guy rescuing children trapped in a cave "Pedo Guy"? And remember how he got sued by that guy but continued to tweet anyway until the SEC was like "Bruh..." so he pretended to take a break.

    Well, there's some news about the "Pedo Guy" thing:

  • Just spitballing, but "Dealbreaker columnist, Lloyd Blankfein" has a certain beauty to it. cc @lloydblankfein Link
    dealbreaker Mon 16 Sep 2019 17:53

    When Lloyd Blankfein retired from Goldman Sachs last year, we assumed he'd take a little time to exhale and find his joy before jumping into something with both feet. After all, Lloyd is just 64 and he is a man with interests and means.

    But almost 10 months into retirement, Lloyd is doing this:

  • Area Billionaire Retiree Debates Himself About Socialism Link
    dealbreaker Mon 16 Sep 2019 17:33

    When Lloyd Blankfein retired from Goldman Sachs last year, we assumed he'd take a little time to exhale and find his joy before jumping into something with both feet. After all, Lloyd is just 64 and he is a man with interests and means.

    But almost 10 months into retirement, Lloyd is doing this:

  • RT @ThorntonMcEnery: Lloyd Blankfein seems lonely, you guys. Link
    dealbreaker Mon 16 Sep 2019 17:28

    When Lloyd Blankfein retired from Goldman Sachs last year, we assumed he'd take a little time to exhale and find his joy before jumping into something with both feet. After all, Lloyd is just 64 and he is a man with interests and means.

    But almost 10 months into retirement, Lloyd is doing this:

  • RT @ThorntonMcEnery: Just listen to RIck Perry and keep trading equities like the oil market isn't literally burning right now in a kingdom…
    dealbreaker Mon 16 Sep 2019 16:38
  • Man Who Lost To Vanilla Ice On "Dancing With The Stars" Attempts To Quell Oil Market Fears Of Sectarian War In Middle east Link
    dealbreaker Mon 16 Sep 2019 16:33

    Benchmark Brent crude briefly surged almost 20% in early trading before settling to 10% higher, up $6 to $66.28 per barrel, according to The Associated Press. The U.S. benchmark West Texas crude was up 9%.

    The increase, which follows drone attacks on Saudi Arabia's Abqaiq oil processing plant and Khurais oil field, marks the single-largest daily surge in crude prices in years.

    The loss of the 5.7 million barrels of Saudi crude production represents the largest such disruption on record, according to figures from the Paris-based International Energy Agency.

  • Opening Bell 9.16.19 Link
    dealbreaker Mon 16 Sep 2019 10:33

    Start your day with the Opening Bell powered by The Water Coolest. The Water Coolest is the preferred bathroom stall reading material of finance professionals. Sign up for the free daily newsletter.

    BURNING BRIDGES

    Drone strikes shut down half of Saudi Arabia’s oil production on Saturday. Houthi rebels based in Yemen took credit for the attacks.

    But US and Saudi officials aren’t quite so sure. Secretary of State Mike Pompeo blamed Iran for the attacks, while US and Saudi officials are looking into the possibility of cruise missiles that originated in either Iraq or Iran. 

    Repeat offenders 

    It wouldn’t be the first time Saudi oil fields have been the target of Houthi drone strikes. As recently as August, one of Saudi Arabia’s largest oil fields, Shabaya, was the target of 10 drones. 

  • RT @ThorntonMcEnery: We like a good batshit financial stunt as much as the next asshole, but this relationship between @SoftBank and @WeWor…
    dealbreaker Fri 13 Sep 2019 22:00
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