The $61 million resignation letter

May 9, 2012

Sometimes lawyers, like bankers, seem to write their own headlines. The most recent example: Morton Pierce, the ex-vice chairman of unraveling of law firm Dewey & LeBoeuf, reportedly said in his resignation letter that the firm owed him $61 million. In one sense, penning an “I quit and you owe me $61 million” letter as you move to a competitor with seven senior colleagues is an example of off-the-charts 1%er chutzpah.

A defense of private equity from another era

May 2, 2012

The current Businessweek cover shows a chainsaw-wielding Patrick Bateman-esque figure in behind a blood-red block typeface. The story itself, by Brendan Greeley, is about private-equity firm Monomoy Capital Partners and does little to justify the violent imagery. In fact,  the story seems to be an attempt at rehabilitating the image of a entire industry through the story of a very small player. The NYT’s Kevin Roose, who wrote about Monomoy in January, took to Twitter to call it an “absurdly flattering cover story”.

from Felix Salmon:

Counterparties: The Inflation question

May 1, 2012

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