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Showing posts with the label financial

Twitter's IPO Conjures Shining City on the Hill

Bob Pisani and Scott Cutler at the NYSE. This morning's initial public offering of Twitter's common stock was brilliant in that it allowed a level of transparency that was sorely missed when Facebook debuted in May 2012. CNBC reporter Bob Pisani (@BobPisani) was at the post alongside the New York Stock Exchange's Scott Cutler (@CutlerScott) to allow a level of public access to an event that has long been shrouded in mystery. "Ten million at 35," barked the designated market maker from the pit through every TV tuned in to this historic event as NYSE CEO Duncan Niederauer stood nearby Twitter CEO Dick Costolo (@dickc) so that the public was being informed alongside the investment community at the same time, which to me exemplifies what Twitter's all about. I recall when events unfolded in Tahrir Square and later in Damascus as news organizations and citizens from around the world learned first-hand from eyewitness accounts via Twitter that this social me

Margaret Brennan No Longer InBusiness

I was caught by surprise last Friday when I read Margaret Brennan's farewell to the NYSE and her show on twitter. I had been a loyal follower of InBusiness since she left CNBC's retail beat to join BloombergTV in 2009. It seemed as though the show was doing well. She moved from the studio to the floor of the Exchange and her image appeared on posters in Metro North rail cars and banners strewn across city buses. According to TVNewser,  Andrew Morse , head of U.S. TV for Bloomberg, said the changes are a continuation of Bloomberg’s “evolution into a digital, multi-platform news organization.”  I suppose it only fair that in this age of disintermediation that a change to a daily TV program be reported on twitter. No indication as to where Brennan will land, but I can't imagine a bright journalist like her will be sidelined for long.  And so it would appear that the glittering money-honey path away from CNBC may not be golden after all, e.g., does anybody tun

A 'Twibute' to Mark Haines

On this Father's Day I can't help but think of Mark Haines , the CNBC anchor who passed away unexpectedly on May 25. I was watching that day when Carl Quintanilla read the announcement on-air and afterward I phoned my own dad to commiserate. Another reminder of him on this day is the obligatory tie often given as a gift to dads before they head off to the golf course or fire up the grill. You'll probably see many of these ties proudly displayed on Wall Street tomorrow. Even Google acknowledged this trend by incorporating one within its banner. The day Mark Haines died it was as though the financial world stood still while CNBC's on-air anchors did their best to process it and put their loss in perspective. They shared stories about him and the loving nicknames he bestowed upon them. Among the many sentiments they shared were Haines' love of the Mets and the Giants, but above all, the love he had for his family. My heart goes out to his wife, son and daughter to

Mark Haines, Titan of Journalism, Passes Away at Age 65

Dearly departed from the Financial Capital of the Galaxy , Mark Haines passed away at the age of 65 and an Irish wake ensued on CNBC. Perhaps the break up of the Dream Team was too much for him to bear. The morning sun will not shine as bright in the absence of his squawk.

Alan Fishman Fleeced WAMU for $7.5 Million

As the dust continues to settle around the annihilation of Washington Mutual by Jamie Dimon's JPMorgan Chase, common stockholders of WAMU should be readying the pitchforks and torches and hunting down the directors who so shamelessly abandoned the company in a week of a panic leading up to the congressional rescue vote. A good place to start the effigy is with replacement CEO, Alan Fishman, who stands to make $7.5 million in a signing bonus for two and half weeks worth of "work." Fishman, who seems more interested in not spilling martinis on his evening wear than mulling through stacks of 8-Ks and 10-Qs, may have orchestrated this so-called run on the bank by phoning Treasury Secretary Hank Paulson and blowing the whistle to facilitate a fire sale of the nation's largest thrift. In my opinion, he should be sued and shamed far worse than Martha Stewart was for her ImClone dealings. While Washington Mutual's loan portfolio stunk worse than a wino smeared in his

Lindsay Campbell: The Maria Bartiromo of Web 2.0

Last week, enthralled by the short squeeze on Jones Soda (Nasdaq: JSDA), I came across a clip on Wallstrip where its host, Lindsay Campbell, conducted a taste test of the company's carbonated beverages on the streets of New York. Lindsay looked exquisite and her dalliance enhanced a poignant piece. It seems the producers of Wallstrip took a page from CNBC by casting an alluring brunette to sex up content which can often be convoluted and boring much the way Maria Bartiromo has done throughout her career. Bartiromo's stardom has CNBC committed to replicating her success with the likes of Erin Burnett and Rebecca Jarvis, while other innovators eagerly seek to do the same. Makes sense. Casting attractive women to relay business news plays to the primal lust associated with Gordon Gekko's idea of greed being good. And what better way to placate the ego of the rich and powerful and often hideously unattractive financiers, who dance among these beauties like marionettes wit