Summary:

does anyone else find it amusing that grubman leaves CitiGroup the same day Elvis left the planet – funny how like Elvis, Grubman had the world (or the telecom world) dancing to his tunes. Jack knows things are going to get tough, otherwise he would not […]

does anyone else find it amusing that grubman leaves CitiGroup the same day Elvis left the planet – funny how like Elvis, Grubman had the world (or the telecom world) dancing to his tunes. Jack knows things are going to get tough, otherwise he would not have donated $100,000 to the Democratic Senatorial Campaign Committee in late June, days before the WorldCom Inc. accounting scandal burst into view. WSJ reports that NASD is probing the practice of IPO spinning, in which securities firms quietly allocate chunks of hot new IPOs to the personal brokerage accounts they hold for corporate executives and others in an apparent bid for business from the executives’ firms. The executives then sell, or spin, the shares on the day of the IPO for quick profits

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