It’s no secret that New Zealand’s always harbored a little bit of a “baby brother” complex. First, to their trans-Tasman (I looked it up) neighbors, Australia, who apparently have a reputation for taking credit for Kiwi singers and desserts, amongst other things. But now that they’ve shot a ridiculously successful trilogy of films about some magic Hobbits who are deeply in love with each other, it seems that they’re ready to fire a few shots in our direction as well. And they’re getting started by aping our most famous landmark. Read the full story

Go HERE for more photos by Ardy Ala and tag yourself and your friends!

Aren’t you glad Sunday is a party day again? I’m a Jew, so when it’s not football season, Sunday literally has nothing to offer except long lines at Trader Joe’s and suffering through my friends complaining about the upcoming work week. That is, unless some generous souls offer to throw a weekly pool party blowout. Luckily for us, the Dim Mak fellows are those generous souls, and their Sunday Summer Night Swim Parties are putting our Sundays back on the right track. It’s just, some people aren’t exactly used to partying on God’s Day, so they make rookie mistakes. Here, then, are a few little tips and tricks to look like an old pro. Read the full story

The dual birthday and new jewelry line launch celebration for man about town and international bon vivant Markus Molinari over the weekend wouldn’t have felt right going down any other way.  Deciding to forgo another Cinco de Mayo birthday fiesta, this one involved feather boas, live music performances, Adam Lambert, erotic dancers and an unnecessarily exorbitant dessert spread featuring the entire spectrum of violets that’d have made His Purple Highness blush. Oh, and did we mention this all went down at “upscale strip club” Voyeur? Yep, that place is still truckin’ along. Read the full story

The dual birthday and new jewelry line launch celebration for man about town and international bon vivant Markus Molinari over the weekend wouldn’t have felt right going down any other way.  Deciding to forgo another Cinco de Mayo birthday fiesta, this one involved feather boas, live music performances, Adam Lambert, erotic dancers and an unnecessarily exorbitant dessert spread featuring the entire spectrum of violets that’d have made His Purple Highness blush. Oh, and did we mention this all went down at “upscale strip club” Voyeur? Yep, that place is still truckin’ along. Read the full story

[Lindsay Lohan, Marilyn Manson via] Lindsay Lohan and Marilyn Manson having a snuggly peek-a-boo moment together as one of indie rock’s hottest bands The Kills gives a rare intimate performance at a tequila party? Oh you know, just another Sunday night at Chateau Marmont, NBD. Last night, to celebrate the second birthday of DeLeon Tequila, the spirit brand threw a swanky, private VIP soiree at the self-proclaimed destination for celebs to behave badly, featuring a live performance by The Kills fresh off their US tour. Read the full story

SEC Eyes Charges For Bond Players (WSJ)
Securities and Exchange Commission officials are pushing hard as part of their ongoing probe of collateralized debt obligations and other mortgage-related products developed by Wall Street to bring charges against individuals, such as executives involved in selling the deals or outsiders who managed the assets, these people said. While the situation remains fluid, the agency also could file civil charges against hedge-fund managers who helped structure certain mortgage-bond deals but then bet against them.

U.S. bank failure costs to exceed estimates by $2 billion (Reuters)
The FDIC’s 2010 loss estimate for bank failures rose to $24.18 billion at year’s end, up from initial estimates of $22.17 billion. The bank regulator increased the loss estimate for 102 out of 157 banks that failed in 2010, according to SNL Financial.

Brevan Howard, Jamison Hedge Funds Said to Advance During Commodities Rout (Bloomberg)
The Brevan Howard Commodities Strategies Master Fund Ltd., which managed $368 million as of March 31, gained 1.1 percent in the first week of May, an investor report obtained by Bloomberg showed. Jamison’s Koppenberg Macro Commodity Fund Ltd., which manages more than $600 million, advanced about 4 percent, said two people with direct knowledge of the matter, declining to be identified because the information is private.

Germany and France Surprise With Strong Growth (NYT)
The euro area’s two largest economies, Germany and France, showed surprising strength in the first quarter of the year, helping lift the entire continent’s performance despite sharp pain along the edges. As a result, the European Commission said in its spring forecast, released Friday, that prospects for 2011 looked “slightly better” than six months ago.

Greece Default Anticipated by 85% in Investor Poll (Bloomberg)
Eighty-five percent of those surveyed this week said Greece probably will default, with majorities predicting the same fate for Portugal and Ireland, which followed Greece in seeking European Union-led bailouts, a new Bloomberg Global Poll shows. The outlook for all three countries deteriorated since January.

Goldman’s O’Neill Says ‘Black Swan’ Concern Overblown, Stocks Set to Rally (Bloomberg)
The view that “the West is in trouble” is wrong when nations including Germany, Sweden, Australia and Canada are performing strongly, O’Neill said in an interview with Bloomberg Television in Hong Kong, recorded yesterday and broadcast today. Investors should “stop worrying so much,” said O’Neill, known for coining the BRIC acronym for Brazil, Russia, India and China…“Every little problem that crops up somewhere in the world is not going to create another black swan,” he said, adding that “there’s far too much conservatism,” in terms of investors holding cash.

Rajaratnam Loss Raises Questions Over Defense Strategy (WSJ)
Mr. Dowd’s closing argument was one of many components of Mr. Rajaratnam’s ultimately failed defense strategy. Many moves by the defense team and Mr. Rajaratnam are now likely to be evaluated, including the selection of a largely working-class jury in a case involving a billionaire, his choice not to take the stand, Mr. Dowd’s often-combative style, and the overarching attempt to convince jurors that the hedge-fund titan only relied on publicly available information in the face of recordings to the contrary.

Rand Paul says people who support universal healthcare ‘believe in slavery’ (LA Times)
Rand Paul, the freshman senator from Kentucky, was speaking recently about healthcare, specifically the new healthcare law some refer to as “Obamacare.”  Like many Republicans, Paul, the son of Rep. Ron Paul (R-Texas), doesn’t like it. Unlike many conservatives, the “tea party” darling doesn’t like the law  because it reminds him of slavery.

China Fund Confident of Getting More Cash (WSJ)
China Investment Corp. is making progress toward getting fresh funds, one of its top officials said, addressing uncertainty about the future of the sovereign-wealth fund, which faces critical scrutiny over its performance after investing all of its initial $200 billion.

Crédit Agricole doubles profits to €1bn (FT)
Crédit Agricole’s quarterly net profit rose to €1.0bn ($1.42bn) from €470m a year ago, which was higher than average analyst expectations of about €992.5m, according to a Reuters poll.

I.R.S. Moves to Tax Gifts to Groups Active in Politics (NYT)
Invoking a provision that had rarely, if ever, been enforced, the Internal Revenue Service said it had sent letters to five donors, who were not identified, informing them that their contributions may be subject to gift taxes depending on whether the donations exceeded limits under the tax laws.

1 in 3 young NYers plans to leave state (AP via NYP)
A recent poll finds that 1 in 3 New Yorkers under age 30 plans to move to another state at some point…The poll finds that most of those who plan to move will do so because of economic reasons including jobs, the cost of living, and taxes.

‘Fair Value’ Accounting Guidelines Tweaked (WSJ)
Perhaps the most significant changes affect companies’ disclosures about their “Level 3″ assets, which are the risky, illiquid securities valued using a company’s own estimates and models rather than market prices. Companies will have to disclose more about the processes and assumptions they use in their Level 3 valuations. They will also have to discuss what might happen to the company’s valuations if the factors they are using were to change.

Ashton Kutcher Will Join ‘Two and a Half Men’ (Hollywood Reporter)
Two sources close to the deal-making tell The Hollywood Reporter that the actor is putting the final touches on a deal to replace Charlie Sheen as the star of TV’s No. 1 comedy.

Article courtesy of Dealbreaker

Last month, Warren Buffett received some devastating news- his beloved soap, All My Children, was getting the ax. The cancelation was difficult to take not only because Buffett has faithfully kept up with the characters, who felt more like friends, every day for the 50-odd years it’s been on, but because as a struggling actor, it was the one gig he could count on. Over the years, Buffett has appeared on AMC a handful of times and with the pricks at ABC killing it off, it was unclear what he was gonna do. Show up to open casting calls? Take his clothes off for some producer looking to take advantage? Luckily, it appears as though we may not have to find out.

The Hollywood Reporter said that Mr. Buffett had joined the roster of guest stars planned for the “Office” finale, which NBC will show on May 19. That lineup includes Ricky Gervais, Will Ferrell, Jim Carrey, Will Arnett, Ray Romano and others better known for their comedy chops than their business acumen. Mr. Buffett is to play one of many characters seeking the vacated regional manager’s post at the Scranton, Pa., branch of the Dunder Mifflin paper company.

Clearly this has the trappings a big break moment.

[ArtsBeat via Dealbook]

Article courtesy of Dealbreaker

GofG L.A. wants to send you and a friend to the AFINGO Fashion Forum tomorrow at the California Market Center for your chance to network and socialize with people of fashion. Keep reading to find out how you and a +1 can win full-day passes to this incredible fashion forum. Read the full story

Go HERE for more photos by Jessica Azizi and tag yourself and your friends!

There must be something about this premature summer heat that’s got L.A. all hot and bothered because we saw a new, heightened passion in Angelenos frolicking in the night this weekend. It had us wondering if you noticed it too. And we just want to know, in the words of Sir Elton John, can YOU feel the love tonight? Join us as we interpret the swelling passion we saw at the No Shirt/No Shoes party at Bardot Friday night through Disney’s animated musical The Lion King. Read the full story

Go HERE for more photos by Jessica Azizi and tag yourself and your friends!

There must be something about this premature summer heat that’s got L.A. all hot and bothered because we saw a new, heightened passion in Angelenos frolicking in the night this weekend. It had us wondering if you noticed it too. And we just want to know, in the words of Sir Elton John, can YOU feel the love tonight? Join us as we interpret the swelling passion we saw at the No Shirt/No Shoes party at Bardot Friday night through Disney’s animated musical The Lion King. Read the full story