Tuesday, October 14, 2014

Colours of Jets

A Brief History Of Car Colors — And Why Are We So Boring Now? Consumerist. This is a pet interest, since I am old enough to remember the days when cars came in lots of fun colors. When did you last see a car in robin’s egg blue, for instance?
Private jets expensed using hedge fund fees Financial Times (Li). This is really really bad, although common. Basically, just about no one who flies on private jets in the US pays for them themselves. It’s either a corporate expense, or fund managers find a way to charge them to investors. Private equity guys do this routinely, but in most cases, they’ve actually written their limited partnership agreements to allow for that (so that means shame on the investors for not putting in some curbs). By contrast, hedgies sit at Bloomberg terminals. There’s no justification (unless you are talking perhaps a distressed investing fund or short fund where they might want to go do serious due diligence in some oddball locations, but even then it is an awfully big stretch) for the use of private jets.
Bank Clients Might Be Unfairly Denied Accounts New York Times Quelle surprise!
Is There Capitalism After Cronyism? American Conservative
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