Wall Street comes to Hollywood. Let the shorting of movies begin.
Who Will Succeed Ken Lewis?
So Ken Lewis finally succumbed to the inevitable and announced his resignation as CEO of Bank of America yesterday. Hot on the heels of a succession scuttlebutt over at rival JPMorgan Chase, the board of Bank of America now has to make a decision fast about Lewis’ successor. Who are they considering?
Post ‘Rising Star’ Is Actually Falling.
The New York Post whiffs on management changes at Citigroup.
Arthur Levitt joins Goldman Sachs as an advisor.
Conspiracy theories about the interconnectedness of Wall Street and its Washington overseers aren’t hard to find these days, and for good reason. Throw a stone and it’s likely to land on someone who’s been through the revolving door between finance and its regulators. Usually it’s a one-way move — the longtime SEC lawyer who jumps the fence for the Wall Street payday, or the Wall Street titan that goes to the Treasury Department to “give back” to the country that has made him wealthy beyond his wildest dreams. Sometimes, though, the same person keeps going through that revolving door, ending up on a different side each time. Arthur Levitt is one such man.
Just about a year ago, real-estate mogul Harry Macklowe borrowed $5.8 billion from Deutsche Bank to buy seven office buildings in New York City while putting up just $50 million of his own cash.
With this morning’s announcement that it had made a $44.6 billion offer to buy Yahoo, Microsoft continues a multi-year streak of indicating that it will settle for buying second place instead of battling its way to first.