Word: banker
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Shafir says despite the swirl of bad news surrounding Citi and Wall Street in general, he and his bankers have stayed focused. He also notes that last Thursday when the House resolution was passed to impose a special bonus tax on employees of many troubled financial institutions, including Citi, nothing out of the ordinary happened in Citi's offices. He says he hasn't had to spend a lot of time defending the firm, nor has he noticed any government intervention in running his part of the business. "In the last several months I have gotten calls from friends asking...
...Currently, the Administration's attention is on The Motor City where unemployment has hit 22%. Steve Rattner, a former media industry investment banker who has somehow become the Treasury's point man for the car business, says that GM (GM) and Chrysler will need more money than had been previously forecast. His comments are those of a man driving into the future while looking into the rearview mirror. Once U.S. light vehicle sales dropped over 30% the first two months of the year it was clear that the American auto companies would lose billions of dollars more than they forecast...
...young are in the vanguard. A graduate in business administration and a former banker, el-Marsafy donned the hijab when she was 26, despite fierce objections from her parents. (Her father was an Egyptian diplomat, her mother a society figure.) But last year, el-Marsafy's mother, now in her 60s, began wearing the veil too. That is a common story. Forty years ago, Islamic dress was rare in Egypt. Today, more than 80% of women are estimated to wear the hijab, and many put it on only after their daughters...
...That perceived disingenuousness may come back to bite Beijing, in two ways. "If they're seen as just inventing reasons to prevent big Chinese companies from being acquired, that's going to have a chilling effect on foreign investment," says a senior Hong Kong investment banker. It will also hurt China's own economic interests abroad. The Australian government is reviewing the proposed $19.5 billion investment from Chinalco - China's huge state-owned aluminum company - in Rio Tinto, the world's second largest mining company, as well as a couple of other, smaller deals in the mining sector. But opposition...
...former Crimson President Jim Cramer '77 by John Stewart. While we're pleased Stewart has found a new target after his best buddy rode off into the sunset, FlyBy still holds a soft spot for Cramer from its days watching Mad Money as a budding i-banker (pre-crisis, of course) and this infamous clip. Yes, we still hate Bill Poole to this...