1 min read · 16 September 2008
With Lehman Brothers head-down in the deadpool, nostalgic merchandise is already beginning to flood eBay. For example, you can buy a pair of Lehman Brothers teddy bears at a starting bid of just $5, or a Lehman Brothers desktop cigar humidor starting at $69.99. Or golf balls, duffle bags, folders, operating principle cubes, mugs, executive flashlights and so much more. Don't let all this crap go to waste... Or, if you're particularly ambitious, someone at CraigsList is offering the entire firm in trade for a "new iPhone 3G or XBox 360. The poster says the company "needs some lovin and is a good project for the person who likes fixin things."
1 min read · 16 September 2008
2 min read · 16 September 2008
Daniel Waterhouse has joined Wellington Partners as a fulltime venture partner in London. peHUB had reported last month that Waterhouse was leaving his partnership position with 3i Group, after just 20 months on the job. In an email to friends, Waterhouse said: " I am now delighted to announce I have joined Wellington Partners... This is a very exciting move and I join a first class pan-European VC." Prior to 3i Group, Waterhouse spent six years in the corporate development department of Yahoo. In that role,
1 min read · 15 September 2008
2 min read · 15 September 2008
1 min read · 15 September 2008
A reader reports that Larry Kudlow uttered those words earlier today on CNBC. Not quite sure if that means that private equity has supplanted Wall Street, or if it's headed for a similar reckoning (if only RedLasso wasn't in legal purgatory, I'd have the necessary context/confirmation). I assume the former, but both may be entirely accurate. Either way -- as Erin points out -- that would make peHUB the new Wall Street Journal. I assume Rupert will be calling any moment now... Update: Here's a link to the video. Fast forward to around the 8-minute mark.
1 min read · 15 September 2008
2 min read · 15 September 2008
Wall Street is burning, and so far I've heard little more than competitive rhetoric from the two presidential candidates. It's time for actual leadership, from these men who would be leaders. Obama and McCain should ask the networks to set aside 30 minutes tonight, in which each candidate could have 15 minutes to tell us three things: (1) Why what's happening on Wall Street is important on Main Street; (2) The various people and institutions who deserve blame; and (3) What they would be doing today were they in office, and what they would set up to prevent such troubles in the future. I also wouldn't mind the naming of a few possible Treasury Secretary candidates (why shouldn't we know possible cabinet secretaries beforehand?). We're waiting... Update: President Bush did just make some comments, in which he refered to the current troubles as "adjustments." Somewhere between boilerplate and blindness is our President. Hey Barack and John: You can do better.
1 min read · 15 September 2008
Clearly a busy morning over here at peHUB Central, as we try to sort through the various crises. My goal isn't to break news on the next collapsing bank, but rather to figure out what's going to happen to the private equity programs/portfolios/teams/etc. at the places we already know are in severe flux. I'll be spearheading our Lehman Brothers coverage (send relevant emails here), while Erin will focus on AIG (send relevant emails here). We'll also be looking into Merrill, WaMu and anything else that hits. As always, you're our best sources. Drop us a line, or use our anonymous tip option.
1 min read · 15 September 2008
