Richard Arens Is Having His MomentFINANCE
• Trader Richard Arens, who runs a brokerage named ABS, made a vanity trade in order to push oil past the $100/barrel milestone. We’re sure the girls at the bar will be real impressed. [MarketBeat/WSJ]
• Citigroup will likely start laying off between 5 and 10 percent of its workforce next week, cutting as many as 32,000 jobs. Merrill Lynch plans to cut around 1,600. [CNBC]
• Former E*Trade CEO Mitch Caplan, who helped load the company with the subprime loans, made off with a $11 million golden parachute. Compare that with former H&R Block chief Mark Ernst, responsible for his own big subprime losses, who took home a paltry $2.5 million. [Deal Journal/WSJ, DealBook/NYT]
Michael Jackson Checks Out Other Masks and Wigs at ‘Lion King’Michael Jackson took his three kids to see the Lion King on Broadway, and they were all wearing wigs and baseball caps. An art dealer in Chelsea sued Christie’s for $7 million for allegedly selling him a fake Basquiat. Kanye West’s album is outselling 50 Cent’s, though 50 is still worth more money according to Forbes. Jennifer Lopez may be expecting twins, but that’d be news to Marc Anthony. The Dalai Lama likes eating at Masala Garden on West 79th Street. Vince Vaughn went into Marquee at 2:45 a.m. to hit on some girls. Hugh Grant cruised down a deserted strip of road in Southampton in a red convertible. Representative Charles Rangel subconsciously thinks Hillary Clinton is going to be president.