Today in News and Blogs

A round-up of Tuesday’s dirt.

The Glass Hammer: Interesting take on Lehman’s firing of Erin Callan and Joseph Gregory. Between the demotions/firings of Callan, Morgan Stanley Co-President Zoe Cruz, and Citigroup’s CFO Sally Krawcheck, Fortune magazine’s next “50 Most Powerful Women in Business” issue is going to be less represented by high-profile Wall Street ladies. Sure, plenty of Wall Street gentlemen have been fired this year, too. And granted, Callan only took the CFO role less than a year ago. But men still dominate the executive offices of every bank… Callan’s demotion leaves Amy Woods Brinkley, global risk executive at Bank of America, as the highest-ranking woman in finance. Here’s hoping these things come in threes and not fours.

Broken Symmetry says go ahead, ignore that balance sheet. “Investors who focus on income statement accounts without understanding their connection to balance sheet accounts are like Charlie (Munger)’s proverbial “one-legged man in an ass kicking contest.”

MadVision Entertainment, backed by Leo Hinderys InterMedia Partners, bought the Soul Train Franchise. Buyouts reported in October that InterMedia, which also owns the country’s largest bible printer, stopped short of its fund raising target last year and plans to return to market this year with a new one.

Infectious Greed doesn’t want to take the recommendation of an analyst with no “skin in the game” and own the stocks they recommend. The post sparked a lively string of comments on his blog and at Dealbreaker. As a reporter I’ve been prohibited from buying stocks of companies I write about, and for good reason! I wouldn’t want my news coming from someone poised to many money on that news, and I’d like to hold equities analysts to the same standard. It’s their job it is to help us better understand the company, with no ulterior motives. Managers are the ones with skin in the game, and there are few categories of people in business I’m more skeptical of.

Speaking of financial journalism, Robert Teitelman at Dealscape comments on a report about rumour mongering by Dane Hamilton at Dealzone. Apparently Jim Chanos of Kynikos Associates thinks we reporters make things up.

More Private Dequity with Monarch Capital (a spinoff of Quadrangle Group).