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new york shock exchange
new york shock exchange

Fatal G2 error

Here's the error from G2:
Error (ERROR_COLLISION)
  • in modules/core/classes/GallerySession.class at line 760 (GalleryCoreApi::error)
  • in modules/core/classes/GallerySession.class at line 340 (GallerySession::_acquireNewPersistentSession)
  • in modules/core/classes/GalleryEmbed.class at line 801 (GallerySession::start)
  • in /home/newyorks/public_html/modules/mod_gallery2_image.php at line 67 (GalleryEmbed::getImageBlock)
  • in /home/newyorks/public_html/includes/frontend.html.php at line 305
  • in /home/newyorks/public_html/includes/frontend.html.php at line 102 (modules_html::modoutput_table)
  • in /home/newyorks/public_html/includes/frontend.php at line 134 (modules_html::module2)
  • in /home/newyorks/public_html/templates/nysx2/index.php at line 127
  • in /home/newyorks/public_html/index.php at line 238

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McKINSEY EXEC, GALLEON FACE "PRISONERS DILEMNA" PDF Print E-mail

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Bout to tell "what had happened"
In a move that could add to the government's arsenal in the Galleon Group insider-trading case, prosecutors made a federal court filing on December 30, 2009 that suggests they are on the verge of accepting a guilty plea from former McKinsey & Co. partner Anil Kumar.  According to the Wall Street Journal, the filing signals that Mr. Kumar may waive his right to an indictment by a grand jury, which could be seen by lawyers as a step toward a guilty plea.  Of the 21 people the government has brought charges against, four are acting as cooperating witnesses.  They are as follows: (i) Roomy Khan, former Intel employee, (ii) hedge-fund managers Richard CB Lee, Ali Far, and Steven Fortuna.  All four have pleaded guilty to conspiracy and insider trading charges and are hoping for reduced sentences for their testimony and aid in gathering evidence - a classic case of "prisoners dilemna". 

 
MULLET: GOLF MAG COMPARES TIGER TO PRES. OBAMA PDF Print E-mail

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Image is everything?
I walked into Barnes & Noble bookstore in mid-December and Golf Digest caught my eye.  On the cover of Golf Digest was a picture of President Obama measuring a put on a golf course and Tiger Woods positioned behind him dressed up like a caddy.  The caption read 10 Tips Obama Can Take From Tiger.  The magazine was on the stands around the same time as the negative publicity surfaced surrounding Tiger.  The article mentioned that Woods is a role model "because he has always been able to pull himself together after setbacks" ..."Woods never does anything to make himself look ridiculous", etc.  Though Golf Digest may receive a boost in sales due to the controversy, the timing of the cover story could not have been more ironic.  The mainstream media as well as corporate sponsors have been riding for Tiger for years due to both his dominance on the golf course and carefully crafted image off of it.

Tiger's image as a higher performer and as someone who is non-threatening made him the perfect pitchman for products like Buick, American Express, Accenture, etc.  To assume that non-sports related sponsors would stick by him during this controversy would have been extremely naive.  There are several myths surrounding Tiger, including:

 
SIX CHARGED IN LARGEST INSIDER TRADING CASE IN DECADES PDF Print E-mail

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Rajaratnam - Tiger Woods of Insider Trading ... Get'em Tiger
In what is being described as the largest insider trading ring in a generation, six people were charged in October (I know, it's been a while ... work with me here) of trading inside information to profit on Google and other big-name stocks.  At the center of the scandal is Raj Rajaratnam, founder of Galleon Group, a New York-based hedge fund that at the time managed $3.7 billion.  A native of Sri Lanka, Raj spent years carving out a reputation as a meticulous investor in technology stocks.  He also prided himself with the speed at which he could make decisions on complex issues and on his ability to gather information that competitors were not privy to.  The above picture shows Mr. Rajaratnam being led away from his apartment in handcuffs by the FBI.  He was later charged with conspiracy to commit securities fraud, with bail set at $100 million, a fraction of his estimated $1.5 billion fortune. 

Relying on phone wiretaps, the criminal complaint described a period from 2006 to 2008 when Mr. Rajaratman, working closely with Danielle Chiesi of New Castle Partners LLC, swapped potential stock-moving information in stocks like IBM and Akamai Technologies.  Others charged in the case include: (i) Robert Moffat, 53, an executive at IBM, (ii) Rajiv Goel, 51, an executive in the treasury department at Intel, (iii) Anil Kumar, 51, a director at management consulting firm McKinsey & Co., (iv) Mark Kurland, 60, of New Castle Partners, LLC, and (v) Danielle Chiesi, 43, portfolio manager at New Castle.  

 
ARENAS SPEAKS ON GUNPLAY PDF Print E-mail
 
PERCY SUTTON, HARLEM FIXTURE, DIES AT AGE 89 PDF Print E-mail

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Sutton (3rd from left), and Gang of Four
Percy Sutton, the pioneering civil rights activist, entrepreneur and lawyer recently died at the age of 89.  I never personally had the pleasure of meeting Mr. Sutton, but his reputation as an entrepreneur, political power broker and media mogul definitely preceded him.  In my mind, "Harlem" and "Percy Sutton" were synonomous.  Mr. Sutton became a fixture on Harlem's 125th Street after moving to New York following his service in World War II as a Tuskeegee Airman.  He founded his Harlem office in 1953 where he represented, amongst others, Malcolm X and his family for decades.

Background

Sutton was born in San Antonio, TX and was the last of 15 children.  Both of his parents were educators. Sutton attended Prairie View A&M University, Tuskeegee Institute, and Hampton Institute.  He received his law degree from Brooklyn Law School.  Sutton dominated Harlem politics for over near three decades.  He was a member of the so-called "Harlem Gang of Four", which included Congressman Charles Rangel, former New York City Mayor David Dinkins, and former New York Secretary of State Basel Paterson.  He served in the New York State Assembly before taking over as Manhattan borough president in 1966, becoming the highest-ranking black elected official in the state.  He served in that post until 1977 when he ran for the Democratic nomination for mayor of New York that ended with Congressman Ed Koch defeating six other competitors.  

 

 
HIDE THE TAPE: MIKE BEASLEY ON BORIS DIAW PDF Print E-mail
 
JAYVAUGHN PINKSTON TO VILLANOVA ... CONGRATS! PDF Print E-mail

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Pinkston drives up in Harlem
Congratulations to Jayvaughn Pinkston who recently made a commitment to play for Jay Wright and the Villanova Wildcats next season.  The 6'6" "Baby Barkley" has always been a bruiser inside but over the past few years, has added a nice dribble drive and a mid-range jumpshot to his game.  Pinkston's well-rounded game should serve him well in the Big East.  His decision to attend Villanova appears to be a "perfect fit" as Villanova traditionally has had great guard play but lacked an inside presence to advance deep into the NCAA tournament.  Pinkston led his New Heights squad to the 17U chip at http://clicky.me/ShockExchangeComesToHarlem09 ... Jayvaughn is the considered to be the top ranked player in the NYC and 67th ranked in the country, according to Rivals.com.  Adam Zagoria of SNY.tv quoted Pinkston as follows:  "I am very excited to be committing to Villanova.  I want to play with and against the best players in the country and playing for Villanova will afford me that opportunity.  Having seen Jayvaughn play in grassroots tournaments and at nearby Bishop Loughlin over the years, I too am excited about seeing him suit up for Villanova. 

 
NOTE TO SHARPER: DON'T PLAY POKER WITH KEVIN FAULK PDF Print E-mail

 
LANCE STEPHENSON ... BORN READY FOR PRIME TIME? PDF Print E-mail

Lance has had one of the most storied careers in NYC basketball history.  He of the unprecedented four straight PSAL championships, the state scoring record, and the subject of Bornready.tv.  Whereever Lance goes the media is never far behind. While pundits focus on his swagger, Cincinati coach Mick Cronin cites his NYC toughness and competiveness.  I have seen Cincinati play on prime time on at least three occasions - almost as much as powerhouses like UNC and Kentucky ... signalling that the networks value Lance's star quality and his NYC following.  However, the question remains ... "Is Lance Stephenson born ready for prime time?"  After his 21 point performance and last second free throws to sink UCONN, the answer seems to be a resounding "Yes".

 
PERCY SUTTON, "HARLEM GANG OF FOUR", PROJECT IN WORKS PDF Print E-mail
 
 
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