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John Mack’s Big Night
The Morgan Stanley CEO is hosting an important dinner for investors in London tonight.
Posted 10/09/08 in Daily Intel : The Greatest Depression
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Market Goes Out on a High Note
Stocks are back up, and we're re-naming today Tumultuous Thursday.
Posted 09/18/08 in Daily Intel : Scenes From a Meltdown
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Did John Mack Come On to Vikram Pandit?
The Morgan Stanley CEO reportedly proposed a merger with Citigroup, but was shot down.
Posted 09/18/08 in Daily Intel : Scenes From a Meltdown
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Morgan Stanley Chief: ‘There Is No Rational Basis for the Movements in Our Stock’
In a memo to employees, Morgan Stanley CEO John Mack blames short-sellers for the slide of the company's stock today.
Posted 09/17/08 in Daily Intel : Scenes From a Meltdown
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Morgan Stanley Releases Earnings Early
Why did they release them today when they were scheduled to release them tomorrow? WHY, you ask?
Posted 09/16/08 in Daily Intel : Scenes From a Meltdown
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Meredith Vieira Officially More Powerful Than Katie Couric
According to ‘Forbes,’ at least. Plus, today’s real estate, law, media, and financial news.
Posted 08/28/08 in Daily Intel : Company Town
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Fannie and Freddie Get Some Good News
The mortgage giants have seen their largest profits in ten years. Plus, who buys a friend a $3 million apartment, and who wants a truck depot in Soho?
Posted 08/27/08 in Daily Intel : Company Town
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Mike and the Mad Dog Break Up at Last
After months of rumors, Chris Russo is off the popular sports-radio show — that and more, in of our daily industry roundup.
Posted 08/15/08 in Daily Intel : Company Town
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Meredith Whitney Eyes Goldman After Stock Drop
Analysts aren't so hot on the formerly golden bank this week. Plus, the latest on Andrew Cuomo, George Clooney, Diane Von Furstenberg, and more, in our daily industry report.
Posted 08/12/08 in Daily Intel : Company Town
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Who’s Vivi Nevo?
We're still not totally sure, but it sure is fun to say his name.
Posted 07/28/08 in Daily Intel : In Other News
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Ben Affleck to Play a Reporter … in Real Life
The actor-vist will report from eastern Congo for 'Nightline'; and other media, law, finance, and real-estate news.
Posted 06/27/08 in Daily Intel : Company Town
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Eyebrows Are Raised Over Morgan Stanley
Morgan Stanley CEO John Mack grapples with plummeting profits and a rogue trader, a summer associate messes with the wrong guy at the company picnic, and Rachael Ray buys in the Hamptons, in our daily roundup of finance, law, media, and real-estate news.
Posted 06/19/08 in Daily Intel : Company Town
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Will the Landmarks Preservation Commission Make an Example of Robert De Niro?
They can make him tear down the Greenwich Hotel's $1.5 million penthouse if they feel like it. Plus, news on Goldman Sachs, Simon from 'Real Housewives,' and a few other people who have power in this town, in our daily roundup of real-estate, finance, media and law news.
Posted 06/18/08 in Daily Intel : Company Town
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Wall Street’s Week of Reckoning
AIG's Martin Sullivan is out, and everyone else is waiting for the ax to fall. Plus! Former 'NYT' editor Howell Raines picks on Poynter blogger Jim Romenesko, a Central Park West penthouse goes on the market for $80 million, and more, all in our daily roundup of finance, media, real-estate and law news.
Posted 06/16/08 in Daily Intel : Company Town
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‘Words Can't Describe’ How Jimmy Cayne Feels About Bear’s Collapse. Fortunately, Figures Can.
Also, more news on Bear Stearns, the MTA, and Betsey Johnson, in our daily industry roundup.
Posted 05/29/08 in Daily Intel : Company Town
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Tishman Speyer Is on the Warpath
Also, Lehman Brothers weighs its options, and 15 CPW breaks the $100 million barrier.
Posted 05/27/08 in Daily Intel : Company Town
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Private Equity Switches to the Full-Court Press
Plus, what's going on at 'Portfolio,' why you'll be hearing more from Perez Hilton, and where the Beatrice Inn is headed next.
Posted 04/09/08 in Daily Intel : Company Town
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New York Public Library Lions to Become Schwarzman's Kittens
FINANCE • As Blackstone's profit sinks 89 percent, Stephen Schwartzman gets the New York Public Library on Fifth Avenue and 42nd Street named after him. The naming rights came with a very generous $100 million donation, but we're not sure we're ready to go have lunch on the lovely steps of "Schwarzman." It'll feel like we're an undergrad at Penn or something. [NYT] • Wall Street says "There is a God" as its longtime persecutor, Eliot Spitzer, falls from grace. [NYT] • Lehman Brothers, the largest underwriter of U.S. mortgage bonds, plans to lay off 5 percent of its workforce, which is about 1,400 people. Meanwhile, Bear Sterns, the second-biggest underwriter of mortgage bonds, lost more than $1.3 billion in market value yesterday as investors worried about the firm's liquidity. [NYP, NYP]
Posted 03/11/08 in Daily Intel : Company Town
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Things Get Shakier For Morgan Stanley CEO John Mack
When Morgan Stanley took a $9.4 billion write-down this past December, people were clamoring for chairman and CEO John Mack's head. "He's a chronic destroyer of value," a retired Morgan Stanley analyst said at the time. Surprisingly, he kept his job, even as the battered bodies of chief executives at other Wall Street firms that took major write-downs fell around him. But now CtW Investment Group, a shareholder activist group, is throwing its $1.4 trillion weight behind a campaign to persuade Morgan Stanley investors to withhold their votes for Mr. Mack, at least as chairman, and vote in an independent chairman. “The argument for John Mack stepping down as chairman is pretty strong right now,” William Patterson, the group's executive director, told the Times. “Everything we have seen suggests that this board is excessively protective of its C.E.O. The losses that Morgan Stanley took and the risk were unwarranted.” According to the Times, CtW isn't saying that Mack should leave the board or resign from his job as CEO, and their proposal isn't binding. Plus, the board is still behind Mack. “We are comfortable with John Mack’s role as both C.E.O. and chairman of Morgan Stanley," the board's spokesperson told the Times. Oh, no. They're comfortable with him? This is worse than we thought. The road to resignation is always paved with declarations of support. Morgan Stanley Chief Grappling With New Risk [NYT] Earlier: Morgan Stanley Loses $9.4 Bil; Mack Gets Knifed
Posted 03/11/08 in Daily Intel : White Men With Money
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Just in Time for ‘Times’ McCain Scuffle, ‘Time’ Editor Says Papers Shouldn't Endorse Candidates
MEDIA • What is the New York Police Department's policy for awarding press credentials? Journalists wonder the same thing. [NYT] • Time managing editor Rick Stengel ponders why newspapers endorse political candidates at a time when news consumers doubt the objectivity of the media. [Time] • Details of the deal that Newsweek struck with George W. Bush's former brain have emerged: It's a two-year, sixteen-column contract. [NYO]
Posted 02/21/08 in Daily Intel : Company Town
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