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+14
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It's not easy to get featured on TechCrunch these days. Everyone knows that. Some people, like Daniel Brusilovsky, a former TechCrunch intern who was fired today by Michael Arrington saw opportunity and jumped on it.
This kid negotiated with startups behind the TechCrunch editorial team's back and exchanged articles for new laptop computers. During his latest gig, someone leaked this story to Arrington and Daniel Brusilovsky got his ass fired. Good luck applying to colleges.
Daniel Brusilovsky welcome to the Shamebox.
Michael Arrington's official statement:
On Monday evening I received a phone call from someone I trust who told me that one of our interns had asked for compensation in exchange for a blog post. Specifically, this intern had allegedly asked for a Macbook Air in exchange for a post about a startup.
After an investigation we determined that the allegation was true. In fact, on at least one other occasion this intern was almost certainly given a computer in exchange for a post.
The intern in question has admitted to some of the allegations, and has denied others. We suspended this person while we were sorting through exactly what happened. When it became clear yesterday that there was no question that this person had requested, and in one case taken, compensation for a post, the intern was terminated.
This was not one of our full time writers, and so the frequency of posts was light. Nevertheless, we’ve also deleted all content created by this person on our blogs. We are fairly certain that most of the posts weren’t tainted in any way, but to be sure we’ve removed every word written by this person on the TechCrunch network.
Our attorneys have advised us not to disclose the name of the individual because the person is not a legal adult. We also think that, given the intern’s age, it may not be appropriate to make their identity public.
We are all shaken here at TechCrunch – this is someone who was our friend and who we trusted to be honest with our readers. Our hope is that the intern learns something from this experience and grows into the kind of person that will be more welcome in this community.
I apologize to each one of you. I promise that we will always maintain complete transparency with you on how we operate, even when it isn’t such an easy thing to do.
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+1
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Found this off some blog. Should bankers take responsibility for the economic downturn? Who deserves to be shamed - this cartoon artist? or the bankers?
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+6
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Before Losing $15 Billion, Merrill Lynch Quietly Made 696 Employees Millionaires. What a bunch of greedy fucktards.
New York Attorney General Andrew Cuomo wrote a letter yesterday to Rep. Barney Frank (D-Mass.), head of the House Financial Services Committee, (which is currently holding hearings Washington on how banks are spending bailout funds.) In the letter, Cuomo expresses concern that Merrill Lynch moved up their bonus schedule so that they could make sure that taxpayers would get the bill.
As you probably know, Merrill Lynch posted a $15.31 billion loss in the 4th quarter, which forced taxpayers to help Bank of America acquire the firm.
Shame on all of you.
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+4
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What do you do when you get sued? Transfer all your wealth to somebody else, of course.
Disgraced Lehman Brothers CEO Dick Fuld isn't the only embattled corporate bigwig to pass off a pricey house to his spouse - Chrysler CEO Robert Nardelli and ousted Merrill Lynch chief Stanley O'Neal did it, too, property records show.
Nardelli, head of Detroit's flailing No. 3 automaker, transferred a $3.8 million, four-bedroom, five-bath Los Angeles spread to his wife, Susan, on Jan. 17, 2008, according to deed records filed in Los Angeles County and recorded with the Assessor's Office on Feb. 5, 2008.
The record lists Robert Nardelli as the seller, but strangely identifies him as a married woman. It lists Susan Nardelli as the buyer and describes the sale as an "interfamily transfer and dissolution.
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+2
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Shouldn't there be a layer of delicious bacon in there somewhere?
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+25
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Where is the government's bank-bailout money going? In part to pay for Wall Street banker Peter Kraus's $37 million Park Avenue spread.
Kraus had excellent timing. He signed on as a top executive at Merrill Lynch in May, negotiating a $50 million pay package, with much of that guaranteed if the company was sold. He didn't officially start until September. A couple of days later, Merrill CEO John Thain sold the company to Bank of America for $50 billion, triggering a $25 million payout under Kraus's contract.
Bank of America got a $25 billion capital injection from the government. Kraus resigned and collected his cash, taking a job as CEO of AllianceBernstein, a money-management firm. And then he bought, for an estimated $37 million, an apartment at 720 Park Avenue from Democratic fundraisers Carl Spielvogel and Barbaralee Diamonstein-Spielvogel.
Let's be clear: Kraus got this apartment fair and square: He suckered Merrill Lynch into a pay guarantee, and had the gall to hold Merrill and Bank of America to his contract, even though he only worked a couple of days.
Bankers deserve bonuses — but only when they really earn them. Thain, who arguably saved Merrill Lynch from the disastrous fate of Lehman Brothers and Bear Stearns, declined to seek a bonus this year, but he would have been justified in getting one. Kraus got a bonus, but he didn't earn it. He did nothing illegal. He just did something unseemly.
The 5-bedroom spread technically belongs to Kraus's wife, who was listed as the purchaser. But given the circumstanced of its sale, I like to think it belongs to all of us. Behold the splendor of the People's Palace.
From Gawker
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+29
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Merrill Lynch & Co. chief John Thain has suggested to directors that he get a 2008 bonus of as much as $10 million, but the battered securities firm's compensation committee is resisting his request, according to people familiar with the situation.
Wow, even GS didn't offer bonuses to top execs this year. Shame on you John Thain for stealing our hard earned tax dollars!
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