...December, Cayne sat for a deposition in a lawsuit brought by Bruce S. Sherman, an angry former C.E.O. of a Florida-based hedge fund, which lost approximately $500 million when Bear Stearns collapsed. According to a person familiar with the conversation, Cayne’s recollection of the meltdown has become cloudy. Some say he is just being cagey; others say he is a little out of it, a combination of getting older and spending too much time far from the Wall Street action that was once his lifeblood. He no longer remembers anything about the adequacy of Bear’s risk models. He no longer admits to having had anything to do with the decision to close down the two problematic Bear Stearns hedge funds that had disastrously invested in subprime mortgages. He doesn’t remember being notified about problems on Bear’s trading desk, or about Bear’s inability to obtain financing from the market, or the billions of dollars of lethal mortgage-backed securities on its balance sheet. In public, anyway, he has become a jovial but forgetful old man who knows that any payments to Sherman will be coming out of JPMorgan Chase’s shareholders’ pockets, not his own. “He’s just kind of s...
Wall Street Executives Speak Out About the 2008 Financial Crisis | Vanity Fair
...risktaking, allowing its balance sheet to get larded with squirrelly debt securities, just as savvier firms such as Goldman Sachs and JPMorgan Chase were aggressively de-risking their balance sheets. He is said to feel “bitter” about the way he was treated by the press before and after Merrill’s collapse. But he isn’t nursing his wounds on the breadline.
Wall Street Executives Speak Out About the 2008 Financial Crisis | Vanity Fair
...ermitting them to fight another day, while his firm was denied such funds and faced the choice of either filing for bankruptcy or being sold to JPMorgan Chase for a pittance (which is what happened). Smoking $150 Cuban cigars, obtained through secret sources in Lebanon, he fumed, “The audacity of that prick in front of the American people announcing he was deciding whether or not a firm of this stature was good enough to get a loan…. It’s just that for some clerk to...
Wall Street Executives Speak Out About the 2008 Financial Crisis | Vanity Fair
Facebook has said publicly that it wants to make the experience of consuming content online more seamless. News articles on Facebook are currently linked to the publisher’s own website, and open in a web browser, typically taking about eight seconds to load. Facebook thinks that this is too much time, especially on a mobile device, and that when it comes to catching the roving eyeballs of readers, milliseconds matter.
Facebook May Host News Sites’ Content - NYTimes.com
Facebook has said publicly that it wants to make the experience of consuming content online more seamless. News articles on Facebook are currently linked to the publisher’s own website, and open in a web browser, typically taking about eight seconds to load. Facebook thinks that this is too much time, esp...
Facebook May Host News Sites’ Content - NYTimes.com
9 years
Although reb A works well in drinks such as tea, it faces a hurdle in cola: The more it’s used, the more the molecule’s licorice aftertaste lingers. To blunt that off taste in Coca-Cola Life and Pepsi True, their makers have mixed stevia with some sugar. The drinks have a third fewer calories than traditional sugared colas but far more than an all-stevia product.
Musk’s March to $700 Billion Tesla Valuation Gets a Rough Start - Bloomberg Business
...e a big deal to most people, but it is to Mr. Kent. Wherever he goes around the world—visiting bottlers, bodegas, grocery stores—he gets out that chip and compares it to bottles, cans, Coke machines. Management, he says, must continually “polish that diamond.’’
What Is Coke CEO’s Solution for Lost Fizz? More Soda - WSJ
So far, speculation has far outpaced reliable information about the prosecution. But a few things are all but certain. Chief among them: As Los Angeles, the city of the Menendez brothers, O. J. Simpson, Phil Spector and Michael Jackson, knows well, it will not be easy to keep the publicity surrounding Mr. Durst — and the dubious reputation he has acquired over three decades of cross-dressing, fleeing law enforcement, family strife and close ties to three deaths — from seeping into the courtroom.
Robert Durst Ordered to Attend Louisiana Court Hearing Next Week - NYTimes.com
The local charges, one for possession of a firearm as a felon and the other for possession of a firearm and a controlled substance, were brought by the Louisiana State Police on Monday night, after a search of Mr. Durst’s hotel room turned up a .38-caliber revolver and around five ounces of marijuana. Mr. Durst already had two previous felony convictions involving firearms possession, making it illegal for him to carry a gun.
Robert Durst Ordered to Attend Louisiana Court Hearing Next Week - NYTimes.com
118,576