Category | Finance

UBS Not Down With Employees Transferring Securities Into Their Personal Accounts

Posted on 31 May 2011

Last month, we noted that a group of UBS employees who “worked in operations and were responsible for securities movements and payments” had been escorted out of the building and told not to come back “pending an internal review into their conduct.” Now we’ve been informed they were recently told not to come back, period. If you’re a current employee or about to join the firm and are unclear on the rules, know this: it turns out UBS does in fact frown upon skimming some off the top for yourselves

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How’d You Like Too Big To Fail?

Posted on 31 May 2011

If you watched the HBO version of Andrew Ross Sorkin’s book last week, what kind of tears did you shed while watching?

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David Einhorn Could Own 60% Of The Mets In Three Years

Posted on 31 May 2011

Unless the Wilpons think they can come up with $200 million, in which case they’d better start sending Irving Picard a daily Edible Arrangement now . Einhorn has agreed in principle to purchase roughly 33 percent of the team for $200 million, which will infuse cash and keep the organization solvent in the immediate future.

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Report: Hedge Fund Job-Seekers Ought To Consider Minneapolis

Posted on 31 May 2011

According to Absolute Return, despite not cracking the Top 5 places for hedge fund hiring (NYC, Chicago, Boston, Dallas, Stamford/Greenwich/Westport), “hiring patterns indicate that Minnesota is the new up-and-comer hedge fund state, with a fistful of firms actively luring strong senior talent.” [ AR ]

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Financier Dares You To Bring A Woman Back To His “Trophy Pad” And Not Get Laid

Posted on 31 May 2011

Something that apparently constitutes a ‘trophy pad’ to some people. Over the holiday weekend, the Post ran an article about New York men who use their “luxury apartments to attract the ladies,” in which several dudes were interviewed about their abodes’ abilities to get them laid. One of them was well-known comedian Jim Norton, who was obviously fucking with the paper when he said stuff like: “Women see windows — and skirts come off

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Former Egypt Bank Chairman Attempts To One-Up Dominique Strauss-Kahn

Posted on 31 May 2011

Mahmoud Abdel Salam Omar, 74, chairman of El-Mex Salines Co [and] the former chairman of the Egyptian American Bank and the Federation of Egyptian Banks, was arrested yesterday after a 44 year-old female maid alleged he attacked her May 29, according to a police department spokesman. Officers were called to the hotel, located in midtown Manhattan, after she informed security of an alleged incident when she went to Omar’s room after he requested tissues. Police charged Omar with sexual abuse, unlawful imprisonment, forcible touch and harassment.

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Opening Bell: 05.31.11

Posted on 31 May 2011

2nd banker in hotel sex bust (NYP) Mahmoud Abdel-Salam Omar — the 74-year-old former chairman of Egypt’s Bank of Alexandria — allegedly groped and “gyrated” against the maid in Room 1027 at The Pierre hotel on Fifth Avenue, a law-enforcement source told The Post. He was wearing a bathrobe at the time, but it was not clear what, if anything, he had on under it. Greek Aid Package To Be Decided By June (Bloomberg) Inspectors from the EU, the International Monetary Fund and the European Central Bank are set to wrap up a review of Greece’s progress in meeting the terms of last year’s 110 billion-euro ($158 billion) bailout in coming days.

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Write-Offs: 05.27.11

Posted on 27 May 2011

$$$ Bill Gross : Debt Solution ‘A Few Years Away,” Dollar ‘At Risk’ [CNBC] $$$ Fire your hedge fund, hire your Congressman [Barron's] $$$ RIL-DE Shaw venture to offer entire spectrum of services [Business Standard] $$$ In Brazil, The Bikini Wax Is A Harbinger Of Inflation [BusinessWeek] $$$ Pickens: We’re fueling terror by paying OPEC [CNBC] $$$ That’s it for us today. We’re off Monday for the holiday, enjoy the long weekend and see you on Tuesday! $$$ Roubini Sees Stock-Correction ‘ Tipping Point ’ [Bloomberg] $$$ Shadow Banking Makes A Comeback [DealBook] $$$ HSBC Shareholder Vent Anger [WSJ] $$$ William Ackman said he found Harvard College “a pretty WASPy place.” “So what did I do?

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Senior Deutsche Bank Employee Didn’t Know You Couldn’t Bring Guns On An Airplane

Posted on 27 May 2011

Getting out of town for the long weekend? If you’re traveling by plane, perhaps we should take a moment to review a couple of items the FAA is not cool with you stashing in your carry-on. Gulf-clubs

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Big names back Project Slice’s smarter shopping inbox

Posted on 26 May 2011

A new startup called Project Slice wants to make all those receipts in your email inbox genuinely useful. Similar to what Mint does for your personal finances, what TripIt does for your travel plans, and what services like Manilla do for your bills , the Palo Alto, Calif. company aims to make it easier to actually see all of your purchase information in one place, rather than struggling to find it on the right website or email

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