Six hedge fund managers gave their best investment ideas at an exclusive—and private—Morgan Stanley conference. Here are their picks.» Read More
Cathy Zoi, who was the Acting Under Secretary for Energy and Assistant Secretary for Energy Efficiency and Renewable Energy, is going to work for a new cleantech private equity fund sponsored by George Soros and a prominent Silicon Valley venture capital firm.
The new fund will invest in...wait for it..."the energy and resource sectors."
A persistent theme of NetNet is that faith in regulations to improve the financial sector is misplaced. Regulations are typically written under the direction of the most powerful financial institutions, and regulators operate as if they were agents of the companies they are allegedly regulating.
Economists use the phrase “regulatory capture” to describe this dynamic. But that’s a misnomer. It implies that at some point regulations and regulators were free and had to be captured. In fact, they are typically born captives, remain captive, and die captive deaths.
The National Weather Service is in the eye of a budget storm—one that has the potential to grow into a Category 5.
A bill in the House of Representatives is proposing to cut the National Weather Service's 2011 budget by reportedly 30 percent or about $126 million. The proposal is part of the Full Year Continuing Resolution Act.
If the act is passed, the reduction could take effect as early as next month.
There are lots of critical skills you need to succeed on Wall Street. It helps to understand market forces. A facility with numbers is useful. Having a feel for group dynamics is necessary to succeed on trading desks and deal teams. Superb time management, verbal acuity, and judgment are all important.
But, mostly, what you need to do is avoid the things that will destroy your career. And most of the things that will destroy your career go under the general heading of “people.”
I asked NetNet reporter Ash Bennington to look back on his years on Wall Street—where he was a vice-president at Credit Suisse and BB&T—and assemble a list of the people you need to avoid. I thought there might be three or four. I was way off. Ash returned with a list of 25 people to avoid.
You might want to print this out and carry it with you. When you meet someone new, scan the list. Decide if they are someone to avoid. Alternatively, you should take a look at the list and ask if you are on it. If you are, well, don’t be surprised when your colleagues start avoiding you. — John Carney
In light of all that has happened in Libya over the last week, it seems fair to wonder how Libyan president Muammar Gaddafi has thus far avoided suffering the same fate as Hosni Mubarak, who was forced from power in neighboring Egypt earlier this month.
In Egypt, the military's apparent lack of willingness to fire en masse upon protestors, in Tahrir Square and elsewhere, has often been cited in the media as one of the causes of the revolution's success.
Is a US Government Shutdown Looming? [Bloomberg]
GM Returns to Profitability [CNBC.com via Reuters ]
"Greenberg: Is the New Sears' CEO a Joke?" [CNBC.com]
Charities merger creates a frown [NYTimes]
It’s always harder to wake up on Friday eve, right? Stop your kvetching, though, I was up way earlier than you and because I’m so nice, I put together a list of what you missed:
From prank phone calls to protests, the state budget battles are getting uglier every minute. And this is just on the state level—what's going to happen on the national stage? I caught up with former House Majority Leader and Tea Party Leader Dick Armey on all the political jabs.
Hedge funds in both the U.S. and abroad are grabbing at investment opportunities in a distressed energy sector.
Analysts had expected the price to fall within a range of $17 to $19 a share, up from the original forecast of $14 to $16 a share.
Investors should not fear the market, BlackRock President Rob Kapito said. Here's what he'd do.