***When being rich and powerful isn’t enough… Bloomberg and New York magazine report on instances of financial types being denied access to exclusive clubs and restaurants, with one going so far as to screen “203” area code calls. Call it financial profiling? Slate might not think so.
***Dirt—or rather, making dirt capable of growing things—is a growing industry.
***WR Ross advocates “good bank, bad bank.”
***Investors are seeing duplication with hedge funds of funds… There are thousands of hedge funds, but (I think) more private equity firms. I have to wonder if the same thing is happening in the PE world, or if there are simply so many firms to sort through that it’s worth the double fees. Plus, it’s the specialized PE FoFs that I find to be the most interesting anyways.
***Goldman Sachs is getting $40 million for selling Anheuser. It got $46 million for selling Wrigley. It may be too early to call, but I suspect those are the two highest fees earned on deals announced this year.