The grand hotels of Europe are suddenly doing their part to help the European Central Bank (ECB) to pull the Common Market out of its lethargy. Consider the call I got this morning from one the legendary concierges of Europe.
Bill Regardie | All Articles
Last year was a wonderful year for the kids playing Wall Streets biggest game. Some $3.5 trillion of deals were closed, the most since 2007. Cheap money and corporate desire to show aggressiveness were two of the big factors.
I have a young friend, Freddy, my lawyer’s son. He’s a rising star at a TV network with the challenging assignment -- to corral the millenials; i.e., the kids born after 1990. While I don’t profess to know much about this market segment – heck, most of my suits are older than them – I’ve always been fascinated by changing demographics.
“Mr. Gooseball, Greg Shuttlecock, here. With Great American Fracking. We spoke June 17th when you responded to our radio spots on CBIZ for investment opportunities. To quote you then: ‘Maybe later. Thank you. Don’t bother me. Good bye!’ Did I get that right?”
It used to be that the way to the top of casino management was by starting on the floor and rising through the pits. “You gotta learn to smell the money, to feel the pigeons,” as one old pro said.
You know times are bad when you see a former hedge fund manager standing on a street corner of a tony Connecticut town offering to work -- any job -- for low seven figures.
Following President Obama’s landslide victory over the “unbeatable” Mitt Romney, even the old toadies that mastermind the GOP need to understand that the times they have a-changed, as the old song goes. And the easiest way to get the White House back is to start with kids, many of whom will be voting in 2016 for the first time.
Last week in Washington, New York and the rest of the financial world, the build-up to America’s budget battle deadline was like the wait for the start of the bombing of Baghdad. The story sucked the air out of everyone and everything.
Until about 20 years ago, local companies and large egos ruled Washington business. Times were good and there were lots of laughs.
Though lobbying may employ more big guns, the big money in Washington these days is in investment banking. After all, not even Tommy Boggs could pull off a billion-dollar public offering.
For the past couple of years, the Securities and Exchange Commission (SEC) has been busting the chops of insider traders. The mafia doesn’t get this much attention.
I was having lunch at the Palm in Tyson’s Corner, Virginia the other day when Jimmy Yoo walked in. It was like seeing a ghost, a legend I had once written about.
When my son asked if I would like to attend presentation day for his son’s second-grade finance class, I immediately canceled a golf game at Burning Tree. Earlier in the school year, I had served as a judge at their portfolio competition and couldn’t wait to see the little moguls again.
The hottest profit center in upscale hotels today is the lobby lounge. No longer just a place for a casual drink, or a place to meet friends, it’s become essentially a 24-hour cash generator as hotels in the Far East have long known.
My wife and I were recently invited to spend the weekend at one of those fancy golf communities in South Florida. Instead of finding tranquility, we found a war zone.
Late last year, when the Bank of China made an $800 million real estate loan to refinance a major Park Avenue office building, I didn’t think much of it. To me, it was just the latest invasion of foreign money coming after America’s trophy properties. Going back 30 years ago, it was the British, the Dutch and then the Japanese swooping in to buy cheap only to get their asses handed back to them a few years later.
While Gordon Gecko’s Wall Street may be Hollywood fiction, the best story in New York now is Galleon Group hedge fund founder and billionaire Raj Rajaratnam as he fights for his freedom in the trial of the century. In case you haven’t been following the case, he’s accused of making hundreds of millions of dollars from insider trading.
The other day, Renault, the French auto maker, was forced to apologize to three former executives it fired in January after wrongly accusing them of espionage.
We did a spur-of-the-moment visit to the Big Apple last week to catch some shows and do some shopping. Instead, we got one helluva surprise. As soon as we turned on to tony Park Avenue, the home of America’s most expensive real estate, we saw a commercial real estate broker in a Brioni suit who was walking in circles holding a placard: “150,000 SQ. FT, ONLY $65 A FOOT!”