Felix Salmon

How well is Goldman serving its IPO clients?

Bloomberg has placed an interesting headline on Michael Tsang’s story about the performance of Goldman’s IPOs: “Goldman Can Show SEC Clients Get Best Returns on Its IPOs”.

Wealth managers covet hedgies’ pay

People, we have a problem: financial advisers aren’t being paid enough. But there’s a chap named Scott Welch who has a solution: pay them more!

The Basel III jockeying continues

Bloomberg has a good update on Basel III negotiations today. To save you slogging through the whole thing, which is very long, the news is that in the war of banks vs regulators, the banks seem to be winning the battle of how to define capital.

The bizarre wedding of WaPo and Bloomberg

I’m very confused by WaPo’s new “Washington Post with Bloomberg” business section. Bloomberg gets a lot of branding at the top of the page, but at least at launch it had no stories at all above the fold.

Counterparties

Pimco launches GDP-weighted sovereign debt indexes: seems like a very good idea to me — Reuters

How to build a paywall

If you’re going to put a paywall on your website, this is a very sensible way to do it:

Paywalls encroach on Alphaville

FT Alphaville is spinning off! The fabulous Paul Murphy and Stacy-Marie Ishmael, who have been with Alphaville from the beginning, are now setting up something at even more of an arm’s length from the FT itself: “a new digital media service”, whatever that might be, called FT Tilt. It’s all quite mysterious for the time being; I can’t wait to see how it turns out.

U.S. immigration datapoint of the day

For every person with a green card, there’s a story of exasperating grappling with an incomprehensible U.S. government bureaucracy. My own story is far too long and boring to go into, but one part of it involved what turns out to be a very common occurrence: my green card was simply lost in the mail, and I was forced to reapply (and pay hundreds of dollars) for a new one on the grounds that it wasn’t returned as undeliverable.

Steinbrenner datapoints of the day

What is the financial legacy of George Steinbrenner? Certainly he’s built a hugely valuable franchise: he bought the Yankees for $10 million in 1973, and they’re now worth just over $1 billion, $1.6 billion, according to Forbes, with Steinbrenner personally worth slightly more than that, some $1.15 billion. That’s a lot more money than he could have made if he just stuck with shipbuilding, and it’s proof of how profitable it can be to overpay for talent.