Genpact, the former GE division that got the whole India call-center thing going a decade ago, started trading on the New York Stock Exchange today. Worried that your job might be moved to Gurgaon? Buy a few shares of G and prepare to profit from your own misfortune!
Now if only I’d thought to hedge the risk of working in old-line media …
I ate breakfast this morning at the Regency Hotel, famed morning meeting place of New York’s political movers and shakers. I’d never eaten there before, and was very excited until I realized that I have no idea what most of New York’s political movers and shakers look like. My only positive IDs were of Manhattan Borough President Scott …
The W$J has an article Wednesday about the new financial disclosures from the members of the Federal Reserve Board. (The disclosures themselves don’t appear to be online yet, but should eventually show up here.) The headline refers to Chairman Ben Bernanke’s “conservative mix of assets,” but my favorite bit of information came at the end …
The Senate Finance Committee held another hearing Tuesday on the taxation of carried interest at private equity and venture capital partnerships and hedge funds. I looked quickly through the prepared testimony–it’s three law professors saying the current (low) tax treatment is ridiculous, a venture capitalist in Denver saying he wants …
The W$J is reporting that Rupert Murdoch now has enough votes lined up to buy Dow Jones & Co. This after News Corp. intimated yesterday that it was about to give up. What changed things was apparently the decision by those in charge of a Denver-based Bancroft family trust that controls 9.1% of Dow Jones voting shares:
Helping persuade
…
From Bloomberg:
The Canadian dollar fell for a fourth day as investors sold commodity-linked currencies on speculation U.S. subprime mortgage losses will slow the world’s largest economy.
The Canadian currency was the second-worst performer among the 16 most actively traded currencies, trailing only Japan’s yen, while falling 0.3
…
A few weeks ago David Cay Johnston wrote a front-page NYT story (warning: available to Times Selectoids only) on how Blackstone had “devised a way for its partners to effectively avoid paying taxes on $3.7 billion, the bulk of what it raised last month from selling shares to the public.” I wrote a post at the time commenting upon the …
The W$J reports this morning that:
Some prominent Democrats are beginning to rethink proposed tax increases on hedge-fund and private-equity managers’ earnings, after an aggressive pushback by industry lobbyists and arguments that the impact could extend far beyond Wall Street. …
“When you first hear about it, it seems like, ‘Yes,
…
Economist and Columbia Business School Dean Glenn Hubbard was making the rounds of summer executive education classes this morning, giving his spiel on the state of the economy. I happened to be sitting in with a class full of Chinese CEOs. Here are the three scenarios for the immediate future that Hubbard laid out for them:
1) The good …
The FT has a story about how corporate lobbying groups like the Business Roundtable and the Financial Services Forum aren’t lining up in support of their private equity brethren on the battle over how to tax private equity partners’ paychecks. And why ever would they? Corporate executives have to pay the full 35% income tax rate on their …
Business Week‘s Michael Mandel wrote Wednesday, in response to my article on “The End of Easy Money“:
But here’s the problem–long rates are falling. The ten-year rate is now down to only 4.91% on the bloomberg machine outside my office (at roughly noon). And the latest mortgage rate for 15-year mortgages is 6.38%…that’s compared to
…
From Patrick Goldstein’s excellent column in today’s LA Times:
The conclusion is almost inescapable: Redstone’s imperial behavior is a drag on Viacom’s future. When I spoke to him last year after the Cruise affair, he had the air of an elderly grandfather, straining to keep up with the conversation. He now resembles one of those old
…
