Wall Street banks may appear to be offering higher salaries to junior employees, but the increase may not be as generous as it looks.» Read More
On Saturday afternoon, I visited a rally outside the United Nations building in New York City, where hundreds had gathered to protest the Mubarak regime in Egypt.
I brought my iPhone—and limited photography skills—to document the gathering.
Egyptian ex-patriots, and Americans of Egyptian ancestry, young and old—though principally young—turned out by the hundreds to the rally in Dag Hammarskjöld Park, despite low temperatures and many inches of accumulated snow.
Some of the gathered were draped in Egyptian flags. Many carried signs. Most were eager to speak of their hopes for their native country's future—and, somewhat more reluctantly, of their fears.
The chanting conveyed mostly hope. Sometimes there were several chants at once—muddled together so indistinctly that I at first thought they were in Arabic. The welter of contrasting voices, in the relative calm of a Second Avenue park, situated next to The Trump World Tower, provided some small inkling of the din and chaos of revolution.
The good news is that it doesn't look like any one has posted a guide to blocking the Suez. At least, not in English.
In case you’re wondering what a post-QE2 stock market might look like, Nomura Securites strategist Bob Janjuah has an answer, and it’s not pretty.
The New York Times magazine gave famed Goldman investment strategist Abby Joseph Cohen a prominent interview in the magazine this Sunday. It didn’t go well.
Deborah Solomon typically does a good job in her interviews—eliciting informative responses on complex topics in a relatively short question-and-answer format. As someone who occasionally has to interview people, I know how hard this can be.
A recent paper by Kellog management professor Lauren Rivera “uncovers” something most of us already know: elite investment banks, consultancies and law firms are education snobs.
Fear has taken a grip over the markets as images of rioting in Egypt dominate television screens and headlines.
The Proverb quote, “Better the Devil you know than the Devil you don't" is applicable because of the many unknown questions surrounding the "what ifs" of Mubarak stepping down, who would take his place and if the Suez Canal will remain open.
I decided to speak with one of my close contacts, who many CEOs coordinate with when working in the Middle East. He is often refered to as the "Mid-East Middleman".
His name is Mac McClelland, CEO of Center House Limited, which provides business development and business advisory services in the Middle East and Asia. McClelland is also the President and Chief Executive Officer of The Middle East Luxury Marketing Council and the former General Manager of Enron Middle East. I have been calling Mac since the days of "Shock and Awe" and his insight and depth of contacts into the region is why so many C-Suites call on him to help navigate through the volatile region.
Egypt is going to face some serious issues with its growth, David Dorsey, who runs the Middle East business for Alden Global Capital, said Monday.
Dorsey has been on the ground in Egypt since Thursday morning researching and trying to get ahead of the actual news, he said.
"I'm just walking around the city, I think that's the most important thing, to see really what is happening, what are people thinking, what are locals doing," Dorsey said. "If you just look around, no businesses are open, so you have to assume there is no GDP being created. So you have to realize Egypt is going to have some problems with their growth. Everybody expects it to grow 5 to 8 percent, but you have to realize that's probably not going to happen this year."
Food stocks in Egypt are running dangerously low.
You can now walk away from your house in Spain—even if it has negative equity—just like you can in America.
Historically, the so-called jingle mail phenomenon—where borrowers walked away from mortgages when they were underwater—was relatively rare in Spain. The reason was simple: Spanish banks had 'full recourse' to go after the defaulting creditor's futures assets—often for decades.
ExxonMobil beats the street with fourth quarter profits of $1.85 per share—up 45 percent from the same period last year. [CNBC]
Violence and looting are major concerns in Cairo. [Financial Times]
Goldman's Blankfein gets a $3.6 million raise. [CNBC via NY Times]
"Global shares continued to slide on Monday , while Europe's benchmark Brent crude was just short of $100 a barrel on fears political unrest in Egypt could spread among regional oil-producing nations." [Reuters]
Syrian President Bashar al-Assad, who took power after his father's death,has signaled an openness to greater reform. [Wall Street Journal]
Sanofi and Genzyme have signed a nondisclosure agreement to discuss a possible merger. [DealBook]
In the movie business, never write off Harvey Weinstein. ("Remember the benevolent Bruce Willis character in 'The Sixth Sense' who wandered through the whole movie not knowing he was dead? That was Harvey Weinstein, except for the benevolent part.") [NY Times]
CNBC's Patti Domm and Jeff Cox discuss the jobs report and the current dilemma of long-term unemployment.
CNBC's Patti Domm and Jeff Cox discuss the recent GDP numbers and what factors have been affecting it.
Investors give and investors take away, and nowhere has that been more true lately than in value stocks.
Wall Street banks may appear to be offering higher salaries to junior employees, but the increase may not be as generous as it looks.
Investors may be warming up to the stock market, but they're taking the safe way in.
Here are the five best Wall Street movie villains of all time—and what they'd say about Yellen and the Fed if they were at Jackson Hole this week.