That’s the caption that accompanies the photo at left in this morning’s Post (not available online), which brings up a number of questions such as:

* Two months ago Mr. Joel was reported to be dating an unnamed Morgan Stanley exec, pictured here on the back of his bike. Is this the same woman, simply misidentified as an employee of MS?

* If not, does Billy Joel have a (heretofore) secret fetish for some lady banker ass? After hitting up MS and GS, who’s next? Have the women of JPMorgan and Citi been tapped yet?

* What group is she in?

* Does Lloyd know about this?

* Does Kate Gosselin work at Goldman Sachs?

Article courtesy of Dealbreaker

Global-Bank Deal Targets Reserves (WSJ)
Regulators have said new rules will help restore confidence in the global banking system. Banks have warned that such requirements could limit economic growth by crimping their ability to lend. Many bankers had believed their arguments were gaining traction, but the new limits regulators appear close to mandating are stiffer than some had expected in recent days.

Boehner Calls For Two Year Freeze On All Tax Rates (AP)
House Republican Leader John Boehner onWednesday proposed a two-year freeze on all tax rates and a cut in government spending to the levels of 2008, before a deep recession took hold of the economy. In a broadcast interview, the Ohio Republican said he was offering a “bipartisan” alternative to the package of business tax incentives and infrastructure spending that President Barack Obama was slated to announce later Wednesday in Cleveland.

Paulson & co Hit By US Economic Woes (FT)
The firm’s flagship $9bn Advantage Plus fund, which aims to profit from trading corporate events, lost 4.26 per cent in August, according to an investor, writing back tentative gains made in July. The fund was down 6.6 per cent in the second quarter. Paulson’s $3billion Recovery fund lost 9.13 per cent over the month, erasing its 6.5 per cent gain in July and compounding its 12.6 per cent second-quarter loss.

Goldman Sees $80 Trillion Emerging-Nation Stock Market by 2030 (Bloomberg)
The market value of emerging-market stocks may surge more than fivefold to $80 trillion in two decades, overtaking developed nations, as China becomes the world’s largest stock market, Goldman Sachs said. Faster economic expansion and growing capital markets may lift emerging nations’ share of world equity capitalization to 55 percent by 2030 from 31 percent today, Goldman strategists led by Timothy Moe wrote in a research report. Institutional investors in developed nations will probably buy a net $4 trillion of emerging-market equities, lifting holdings to 18 percent of their total portfolios from 6 percent now, Moe wrote.

SEC Looking At ‘Quote Stuffing’ (WSJ)
Mary Schapiro said the agency is looking at a practice others have called “quote stuffing” to assess whether it violates “existing rules against fraudulent or other improper behavior.” The practice involves trading in which unusually large numbers of orders to buy or sell stocks are placed in a fraction of a second, only to be canceled almost immediately. Ms. Schapiro said the agency is considering requiring traders to hold orders open for minimum periods.

Ryanair’s O’Leary Mulls One-Euro Toilets, Standing Passengers (Bloomberg)
“Why does every plane have two pilots?” asks Michael O’Leary, chief executive officer of Ryanair Holdings Plc, the largest low-cost airline in Europe. Wearing sneakers, jeans, and an off-the-rack short-sleeved shirt, O’Leary is pontificating in his office at the company’s headquarters on the outskirts of Dublin Airport. “Really, you only need one pilot,” he tells Bloomberg Businessweek in the Sept. 6 edition. “Let’s take out the second pilot. Let the bloody computer fly it.” What happens if the pilot has a heart attack? One member of the cabin crew on all Ryanair flights would be trained to land a plane. “If the pilot has an emergency, he rings the bell, he calls her in,” O’Leary says. “She could take over.”

Marilyn Manson Loses His Make-Up, Gains A Mullet (STP)
Interview reports that Manson is a “diehard” fan of HBO’s “Eastbound & Down,” the critically worshiped comedy starring Danny McBride as a washed-up former baseball star whose trademark mullet and angry face Manson is imitating in this photo. “Whenever I see Manson, he’s repeating entire chunks of dialogue and dressed like Kenny,” Adam Bhala Lough, who’s directing Manson in the upcoming film “Splatter Sisters,” told Interview. Lough went on to say that Manson dresses like “Eastbound” character Kenny Powers all the time, and provided this photo, credited to Manson himself, as “evidence.”

Hedge Funds Shrink In July As Billions Walk (Reuters)
The global hedge fund industry shrivelled a little more in July when investors pulled out nearly $3 billion (1.9 billion pounds) after the loosely regulated portfolios posted losses in May and June, researchers reported on Tuesday. Assets stood at $1.53 trillion, their lowest level since November 2009, according to data released jointly by TrimTabs and BarclayHedge, firms that track performance and flow data.

Hurd To Get $950,000, Eligible For $5 Million Bonus At Oracle (AP)
The biggest part of Hurd’s pay package will be the 10 million stock options Oracle plans to give him. The company said Hurd’s options will carry an exercise price equal to the market value of the shares on the date they are granted. While the filing did not offer a specific date, Oracle shares closed Tuesday at $24.26, which would value 10 million shares at $242.6 million. If he stays with the company, Hurd will be given options to buy another 5 million shares each year for the next five years.

Article courtesy of Dealbreaker

First off, let me start by putting this out there: Team Rebellion doesn’t need your money. As you can plainly see from the photo at left, if this whole hedge fund thing doesn’t work out, the principals can easily find work as a boy band. Having said that, they’re going to keep at this money biz a bit longer and would love to have you along for the ride. Here are the relevant details:

* The Rebels are like a teeny tiny RenTec, sans the Pall Malls.

* They use Artificial Intelligence to invest, being of the mind that computers = smart, man = stupid (“It’s pretty clear that human beings aren’t improving,” said Spencer Greenberg, 27 years old and the brains behind Rebellion’s AI system. “But computers and algorithms are only getting faster and more robust.”)

* You could try to do what they do at home, but you would most likely die.

“No human could do this,” said Michael Kearns, a computer-science professor at the University of Pennsylvania who has used AI to invest at firms such as Lehman Brothers Holdings Inc. “Your head would blow off.”

* They have about $7 Million in AUM but have “struggled to raise money, in part because investors since the credit crisis are dubious of opaque math-based strategies.” (This is where you come in.)

* The founder, Spencer Greenberg, is the grandson of Hank Greenberg, the baseball player, not the old man with the dog.

* The other employees are Alexander Fleiss, Jeremy Newton, and Jonathan Sturges, who are not pulling their weight in the famous relatives department. (Fleiss’s background is in finance and math, Sturges has a master’s in music composition, and Newton is a mathematician who helped design the program.)

* Rebellion’s computer is nicknamed “Star,” which isn’t so great as nicknames go but if they can put you down for $100 million and an 8-year lock-up you could probably have a say in getting renamed T-bone or the Big Guy or something.

* If you’re nervous about putting all your money into the hands of a machine, don’t be. Fleiss was scared too until he learned to let go and love the bomb.

In early 2009, Star started to buy beaten-down stocks such as banks and insurers, which would benefit from a recovery. “He just loaded up on value stocks,” said Mr. Fleiss, referring to the AI program. The fund gained 41% in 2009, more than doubling the Dow’s 19% gain.

The firm’s current portfolio is largely defensive. One of its biggest positions is in gold stocks, according to people familiar with the fund.

The defensive move at first worried Mr. Fleiss, who had grown bullish. But it has proven a smart move so far. “I’ve learned not to question the AI,” he said.

* Similarly, if you’re skittish about trusting your money with a bunch of kids under the age of 28, relax. At least one of the principals can grow a beard:

Article courtesy of Dealbreaker

[All photos by TheCobraSnake] Monday night at the Roxy, a bunch of underagers got together for the weekly shitshow, “Spin the Bottle”. This week's entertainment featured a competition between local L.A. DJs. Party goers cheered on their favorite spin masters while enjoying complimentary Vitamin Water, gossiping with friends, and making Zoolander faces in the photo booth.

The Monday night bash, started last summer, is popular among Westside teens from affluent families who love techno music and can get down with some fist-pumping in a hot, sweaty, sea of humanity. Massive mosh pits in the middle of the dance floor are standard, but if you're lucky, there might be some belligerent 17-year-old boys screaming and punching each other (at which point they are politely escorted out by giant, beefy, security guards specially trained in hogtying rabid teenagers in plaid.)  But don't worry: they never learn and will be back to start some shit again the next week, we promise.

Article courtesy of Los Angeles | Guest of a Guest – Los Angeles People, Places, Parties & Nightlife

Microsoft (MSFT) disclosed in a blog post yesterday that it has sold 150 million copies of Windows 7 since launch, making it the fasting selling OS in history, with 7 copies selling every second.
The company also said that today it is releasing beta versions of updates to Messenger, Photo Gallery, [...]

Article courtesy of BARRONS.com: Tech Trader Daily

If  you’re not a heavy Flickr user, you might not spot the changes in the Yahoo-owned photo-sharing service’s forthcoming redesign, to which you can opt in now. Click on the screenshot at right to see it full size. The old and new pages look alike at first, but there are key differences:

1. The default display size of photos has been increased 30 percent, from 500 pixels wide to 640. Newer computers with larger, more high-resolution displays are put to better use, rather than filling the screen with whitespace.
2. The entire photo page has been made wider and taller.
3. A light box few darkens the white pixels to black, much like Photoshop, so you can look at photos without being bombarded with white light.
4. Photo titles are closer to the description, so you can easily figure out what a photo is about.
5. The photo’s owner, date taken, camera, and geographic location are clustered at the right of the page.
6. There’s a map that shows the geolocation data attached to the photo. You can pop up the map over the page for a larger view.
7. The photostream to which a photo belongs appears as an interactive filmstrip. You can scroll it within the page.
8. You can pop up a map that shows the geolocation data in the photo.
9. You, and anyone else, can “star” an image to mark it as a favorite.
10. Other users can add to a Facebook-like stream of comments and stars below the image.
11. Navigation has been cleaned up. For example, you can now use arrow keys to go back and forth through a filmstrip.

The new Flickr is more of a major overhaul than it seems. Sign up for the opt-in beta test program, use it for two days, then try going back.

People: flickr

Article courtesy of VentureBeat » MediaBeat

Ready for a blast from the past? The Santa Monica home of Kathryn Grayson, leading lady of Hollywood's Golden Era, has hit the market with a listing price of $8,995,000. The large Tudor home, built in 1926, is situated on two lots at 2009 La Mesa Drive overlooking the Riviera Country Club and served as the home of Grayson during her heyday up until her death in February. With it's rolling green lawns, grand architecture, and sweeping golf course views, it is quite the property.

Having starred in such films as The Toast of New Orleans, Thousands Cheer, and Anchors Aweigh, Grayson regularly entertained her co-stars, endowing the house with a history rich in Hollywood lore and glamor. On a given night there, you might have found Grayson performing a duet with Mario Lanza while Judy Garland and Frank Sinatra cozied up by the fireplace. No big deal… Even the famously reclusive Howard Hughes was a frequent guest at the Grayson estate.  Apparently it was not terribly unusual for Grayson to find the eccentric asleep in one of the home's seven bedrooms after climbing over the front gates and letting himself in in the middle of the night.

Even if you're unaware of the its brilliant past, you can tell the home's owner must have been living there for at least several decades just by taking a peek inside. Maybe Grayson was clinging to those golden years of the bygone era, as it seems that the house features the same decor as it did then.  Literally. We're pretty sure the couches in the photo from 1930 are the same ones in the house today (see photos below!).

Living room, 1930

Living room, 2010

There's even a salon in the home with one of those old, antique blow-dryers that were basically like pieces of furniture.  So, yeah, it's need of some serious updating. But we must acknowledge how interesting it is to see the home as it was when the likes of Ol' Blue Eyes used to hang out there, as if frozen in time.  I mean, Frank Sinatra actually sat on those 80+ year-old couches!

[Photos courtesy of Unlimited Style Photography]

Article courtesy of Los Angeles | Guest of a Guest – Los Angeles People, Places, Parties & Nightlife

OnRequest Images, a service which takes custom photographs from around the world, today announced $2 million according to Seattle-based TechFlash, which is where the company is headquartered.

OnRequest Images helps marketers and brands to take customized photos for campaigns. The company hosts a network of a couple hundred photographers, stylists and production crews around the world.  Many of those photographers can be seen right on the company’s website and range from 40-year-olds in Turin, Italy to 20-somethings in Sun Valley, California.

The company doesn’t just take photos and send them to their clients. Rather, it produces and stages what’s needed by the client anywhere in the world. Using an online production technology called OnPro, marketing managers or advertising directors can organize and stage photo shoots leveraging the company’s crew in near real-time. The service appears to be legit claiming around 58 clients, including top brands like Coca-Cola, Merck and Adobe.

Several companies could be considered competitors, including global agency Global Photo Associates, which hosts 350 photographers in 260 cities and 63 countries or stock photo marketplace Getty Images, which contains thousands of useable photos.

OnRequest Images, founded in 2002, previously raised several rounds of funding, including $9 million in 2007 as well as $8 million in 2008. The most recent round of funding was secured from Menlo Ventures. Previous investors Frazier Technology Ventures and Maveron did not participate.

We’ve emailed OnRequest to confirm the funding.

Tags: global, images, photography, production

Companies: OnRequest Images

Article courtesy of VentureBeat » Deals & More

The men, women and vampire squids at Goldman Sachs posses a lotta talent among them. Many of them can tie a maraschino cherry stem into a knot in under ten seconds. They pioneered the buddy system between the prime brokerage and prop desk so as to maximize front-running of clients. A not insignificant number of them are quite skilled at charades. Sportsmen, however, they are not. This has been evident at many an impromptu stick ball game among the banks (don’t feel bad about that Viniar, it could have happened to anyone) and continued to be clear last night at the JPMorgan Corporate Challenge, where Goldman failed to place any employees in the top 5. Putting a fine point on it was one JPMorgan staffer who it should be noted snapped the photo above, and the ones later on of Team GS circle JO&C’ing in the bathroom of the bar everyone congregated at. But hey, look! Moragan Stanley won something!

Article courtesy of Dealbreaker

Oh the bromance! Jason Bateman and his sugar-daddy Dustin Hoffman take their passion for the NBA Playoff's a little bit too far!

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At last night's LA Lakers v Boston Celtics Game 1 at Staples Centre, when the Kiss Cam turned to Hoffman, instead of turning to his wife, the 72-year old turned to hunky neighbor Jason Baseman.

Who knows, if the Lakers end up winning, can we see a JumboTron proposal in the works?

Bateman and Hoffman weren't the only two celebrities taking in Game 1 last night. Being held at celebrity magnet Staples Centre, it was inevitable that celebs were drawn to a Lakers Play-Off game like moth's to the proverbial flame.

Steven Spielberg, Will Ferrell, Sly Stallone, David Duchovny, Ice Cube, Charlize Theron, and Joe Jonas were among those who attended.  The stars of the upcoming Grown-Up's, Adam Sandler, Kevin James, Chris Rock and David Spade all sat together court-side, near perennial Laker court-side seat holder Jack Nicholson.

It was a home town win for LA, with Game 2 in Boston on Sunday.

Adam Levine, Anthony Kiedis

Bridget Marquardt, David Duchovny

Afro Kid and Ice-Cube, Joe Jonas

Sly Stallone, Steven Spielberg

Adam Sandler and David Spade, Charlize Theron

[Photos courtesy of Photo Agency]

Article courtesy of Los Angeles | Guest of a Guest – Los Angeles People, Places, Parties & Nightlife