As investors pull out.
Nobody ever accused investors of loyalty. SAC Capital Advisors, the hedge fund headed by billionaire Steven A. Cohen and the center of federal probes of insider trading, is now facing a deadline on Monday for investors to submit second-quarter redemption notices. That means that those investors will potentially pull out billions of dollars. Roughly $6.75 billion of the firm's $15 billion is from outside investors, and estimates of $3.5 billion in redemptions would halve the amount of money outsiders have in the fund. It's not looking good.
“Social media is the worst menace to society.”
Watch your words, Tayyip Recep Erdogan, you do not want to mess with your people’s Internet. The Turkish prime minister said on Sunday that Twitter and other social media are to blame for his country’s growing unrest, saying that his opposition had provoked the protests and it had grown through social media. “There is now a menace called Twitter,” Erdogan said. “The best examples of lies can be found there. To me, social media is the worst menace to society.” Or, you know, a way for people to organize. Tens of thousands have joined in the country’s protests over the past week, which began as a call against the government’s plan to raze a tiny park in Istanbul but has grown as a rally against Erdogan’s rule.
Still more unaccounted for.
A fire that broke out early Monday morning in a Chinese slaughterhouse has killed 119, state media reported. There are still some workers unaccounted for, although it’s unclear how many. More than 300 workers were in the plant at the time, and China’s official news agency, Xinhua, reported that about 100 workers had managed to escape. “The complicated interior structure of the prefabricated house in which the fire broke out and the narrow exits have added difficulties to the rescue work,” Xinhua reported, although China’s safety record is infamously abysmal. People took to China’s social-media website Weibo to express their anger, writing things like “was this place ever regularly inspected by fire safety authorities?”
Google Glass might be revolutionary, not just on a technological level but also for the porn business, which is already prepping POV apps using Google’s new tech.
Imagine watching your favorite porno with hands-free control. No more lube on the remote or keyboard!Google Glass could take the POV concept to whole new levels, and this is particularly relevant in porn. No more awkward over the shoulder camera, with a camera operator breathing down a performer's neck trying to get that spot-on-POV without being the performer himself. Now an untrained camera operator, an actor, can wear these Google Glasses and obtain the perfect perspective while hands-free to guide the action.
Yep, no one really likes it.
The danger of flopping at the box office is real. The fear of being made fun of for making a movie like After Earth is a choice. And, after the film opened with only $27 million, Will Smith probably should've thought about that choice a bit more. Panned by critics, After Earth could only land in third place at the box office, behind Fast and Furious 6 and Now You See Me. This outcome isn't exactly a surprise: Will Smith hasn't had box-office magic in years and sci-fi films haven't done well this year. M. Night Shyamalan directed the movie, too. So no twist endings here.
I would describe this Rob LaZebnik takedown of millenialls as mean-spirited, but as most kids my age will probably assume he's being heartfelt instead of bitingly sarcastic, I'll just laugh along with the old people. Yet I can't help but wonder: isn't the reason so many kids my age are like this because of parents like LaZebnik?You masterfully tied together a set of emotional symptoms that looked enough like attention deficit disorder to buy you extra time on all your finals and standardized tests.
Include sleep with female intern, tell racist jokes, name-drop.
Tips to survive your summer internship at Goldman Sachs: “bang a [female] intern,” “always repeat racist jokes,” “don’t wear Hermès ties, ever,” and name-drop if you went to a “decent board school.” Oh, and if you have an Indian or Pakistani boss, “learn the rules of cricket.” Those are some of the 20 tips to success, according to the author of the Wall Street gossip blog GS Elevator, which has nearly half a million Twitter followers and 5,000 hits on its blog per day. “You’ve been vetted and hired by Goldman f---ing Sachs,” the blog reads. “You might feel like you crossed the finish line. But the race hasn’t even started yet.” Goldman, though, isn’t taking GS Elevator’s tips seriously, with a spokesman saying the blogger “sounds like an investment banker from the ‘80s.”
It’s not hard to understand why Anthony Chiasson, already a millionaire, would risk it all to rake in even more. Libraries are filled with such characters—just ask Tolstoy, writes Liesl Schillinger.
Last month, a 39-year-old Manhattan hedge fund manager and former altar boy named Anthony Chiasson was slapped with a six-and-a-half year prison term and a $5 million fine for crimes connected to insider trading. It was a very stiff sentence—prosecutors said it was meant to discourage others in the hedge fund “criminal club”—and the judge who delivered the punishment, U.S. District Judge Richard J. Sullivan, scolded Chiasson as he sentenced him.
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Or maybe like the lovechild of Darth Vader and a can of soup. One of the biggest moments at Apple's Worldwide Developer's Conference Monday was the unveiling of the redesigned Mac Pro. Of course, Twitter had something to say about it.
What do we do with people whose livelihoods are destroyed?