hedge-funds

Greenwich Residents Are Richer Than Ever

Doree Shafrir · 07/24/07 03:05PM

Today's WWD teaches us that because more hedge fund zillionaires are moving into fun old Greenwich, CT, retailers are rushing to set up shop in the town to take advantage of their hedge-wives. What are these women like? WWD turns to jewelry store owner Lisa Moskowitz, who doesn't seem concerned about alienating her clientele: "The women are very dedicated to their children, but spend a great amount of time playing tennis, dining and meeting with their book clubs. They have a lot of money to spend." Yes. Yes, they do. Let's learn more about this wonderful place!

abalk · 07/17/07 08:55AM

Barack Obama "received more donations from employees of investment banks and hedge funds than from any other sector, with Lehman Brothers, Goldman Sachs and JP Morgan Chase among his biggest sources of support." The junior senator from Illinois has thus far pulled $160 grand from Lehman and $100K from Goldman. Hillary Clinton, meanwhile, got a mere $47,850 from Morgan Stanley. [FT]

Hedge Funders To Be Taxed Like Normal Human Beings!?

Choire · 06/21/07 09:00AM

Looming crisis for the very rich and for those of us that live off them like remoras, which is to say, most of us! "Performance fees" for hedge funders have been taxed at just 15%, due to some code we'll never understand—but those fatcats down in D.C. have finally gotten wise. (They're also working on upping the tax base for private equity firms that go public.) We say a change to the tax rate will actually pretty much destroy Manhattan's insane real estate, contemporary art and (slightly less insane) domestic help markets. Hello, this bubble won't inflate itself! Think of those slobs at Douglas Elliman, and of poor Matthew Marks—and of Inez who always handwashes those 1200 thread count sheets so well. What'll happen to Inez now?

"Butler Academy" To Open In New York

jliu · 06/03/07 11:00AM

With all those newfangled Economy 3.1 jobs attracting rich rubes from the hinterlands, there's soon to be be a great increase in the need for Manhattan butlers, reports today's Post. And yes, they make much more money than you do. How much? If you're "well-groomed" (and, one presumes, clean and articulate), expect $200,000 a year, plus a 401(K) and, of course, free housing. Acquire a British accent, and that figure jumps by $10 to $20K. So, all you Ivy Leagued publishing drones and M.F.A.'d copy editors out there, hold off on those enticing subway trade-school ads: The Dutch-based International Butler Academy is planning to open a New York branch soon.

Tim Sykes, Capital Schmuck

Doree Shafrir · 02/27/07 02:09PM

It's like along with the gene for making money comes the gene for assholishness! Remember Tim Sykes (no relation to Bergdorf Blonde Plum, unfortch), star of Wall Street Warriors, a 25-year-old West Village short-seller? He's young but his Wall Street ways go way back: