Felix Salmon

Counterparties

By Felix Salmon
December 11, 2009

How Gordon Ramsay “neglected to take into account how little alcohol New Yorkers would order at lunch” and almost went bankrupt despite his TV income — Bloomberg

Fernholz vs Taibbi

By Felix Salmon
December 11, 2009

Tim Fernholz‘s intemperate attack on Matt Taibbi and his latest article is getting a lot of attention in the Twittersphere. It turns out that a lot of journalists don’t like Taibbi, and love it when he gets taken down a peg.

Annie Leibovitz is now $30 million in debt

By Felix Salmon
December 11, 2009

Allen Salkin has some new facts in the continuing saga of Annie Leibovitz and Art Capital Group: the amount that Leibovitz owes Art Capital has now ballooned to $30 million (the original loan, taken out in September 2008, was for $24 million); and the maturity date on the loan has now been extended only to “next summer”:

Michael Froman and the revolving door

By Felix Salmon
December 11, 2009

Michael Froman is one of those behind-the-scenes technocrats who never quite makes it into full public view. But according to Matt Taibbi, he’s one of the most egregious examples — up there with Bob Rubin, literally — we’ve yet seen of the way the revolving door works between business and government generally, and between Citigroup and Treasury in particular.

BofA’s dismal mortgage-modification rate

By Felix Salmon
December 11, 2009

Yet more proof, if proof be needed, of Bank of America’s dysfunctionality comes in the latest HAMP report from Treasury. BofA has 1,018,192 loans eligible for modification — more than twice as many as anybody else; JP Morgan is in second place with 448,815. Of those million-plus mortgages, BofA has managed to turn the grand total of 98 into permanent modifications — a conversion rate of 0.0096%.

Those surprisingly small TCW redemptions

By Felix Salmon
December 11, 2009

How much has the abrupt departure of star bond fund manager Jeffrey Gundlach cost his former company? Maybe less than you might think: about $2 billion left his fund in the 48 hours after he was fired, but redemptions seem to be slowing down, and that still leaves over $60 billion remaining.

Counterparties

By Felix Salmon
December 11, 2009

Facebook will soon let its users keep friends lists private — PC World

A spectacular new piece of information design tracking how the UK govt spends its money — Where does my money go?

When boards are too independent

By Felix Salmon
December 11, 2009

We all love independent board members of public companies. But can they be too independent?

How buying a home is gambling

By Felix Salmon
December 11, 2009

Ryan Avent adjudicates the homes-as-investments debate, and comes to a positively Solomonic conclusion: