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Cara LombardoCara Lombardo is a senior reporter for The Wall Street Journal in New York. She and her colleagues regularly break market-moving news on the biggest and most interesting deals and activist fights. In 2021, she was part of a team that won a Gerald Loeb Award for the paper’s coverage of Amazon’s business practices. She joined the Journal in 2017 and previously covered breaking news and the beverage industry. She has undergraduate and master’s degrees in accounting and a master’s degree in journalism, all from the University of Wisconsin-Madison.

Persons: Cara Lombardo Cara Lombardo, Gerald Loeb Organizations: Wall Street, University of Wisconsin - Madison, LinkedIn Locations: New York

☆ Labor Group Plans Board Fight at Starbucks
▼ + stars: | 2023-11-21 | by ( Lauren Thomas | Cara Lombardo | ) www.wsj.com time to read: 1 min

Protesters among a coalition of unions and Starbucks workers rally outside a New York Starbucks coffee store earlier this month. Photo: Bebeto Matthews/Associated PressA labor group is seeking representation on the Starbucks board, ratcheting up pressure in a battle between the coffee giant and its workers over pay and working conditions. The Strategic Organizing Center—a coalition of labor unions including the Service Employees International Union that owns a small Starbucks stake—is seeking to address what it views as a failure by the board to oversee the company’s treatment of its workers.

Persons: Bebeto Matthews Organizations: Associated Press, Starbucks, Service Employees International Union Locations: New York

☆ Wall Street Eyes Nikki Haley as Trump Spoiler
▼ + stars: | 2023-11-18 | by ( Cara Lombardo | Annamaria Andriotis | ) www.wsj.com time to read: 1 min

Big hitters on Wall Street are lining up to support Nikki Haley ’s long-shot bid to snatch the 2024 Republican presidential nomination from Donald Trump. “There’s a desperate, desperate hunt for anybody but Trump,” said one of the roughly 30 senior executives The Wall Street Journal spoke with to gauge the mood of the finance set roughly a year ahead of the election.

Persons: Nikki Haley ’, Donald Trump, “ There’s, Trump, ” Organizations: Wall

☆ Talent Agency CAA and Michael Klein Launch Sports and Media Investment Bank
▼ + stars: | 2023-11-13 | by ( Cara Lombardo | Joe Flint | ) www.wsj.com time to read: 1 min

Michael Klein is an omnipresent deal maker who launched M. Klein & Co. in 2012. Photo: Andrew Harrer/BLOOMBERG NEWSHollywood talent agency Creative Artists Agency and longtime deal maker Michael Klein are launching a new investment bank focused on sports, media and entertainment deals. CAA’s merchant bank, known as Evolution Media Capital, and advisory firm M. Klein & Co. are joining to form CAA Evolution, the companies told The Wall Street Journal. The combined firm aims to work on large media companies’ deals, sell sports teams and advise on capital raises including initial public offerings, little of which Evolution does currently.

Persons: Michael Klein, Andrew Harrer Organizations: Klein, Co, BLOOMBERG NEWS Hollywood, Creative Artists Agency, Evolution Media Capital, CAA, Wall Street

☆ One Year On, Twitter Continues to Burn a Hole Through Bank Balance Sheets
▼ + stars: | 2023-10-25 | by ( Alexander Saeedy | Cara Lombardo | ) www.wsj.com time to read: 1 min

The CEO of X, formerly known as Twitter, said the social-media platform is ‘just about break even’ and should turn a profit by early 2024. Photo: Jerod Harris/Getty Images for Vox MediaThe banks that financed Elon Musk’s $44 billion purchase of Twitter are still struggling a year later to contain the damage to their balance sheets. Seven banks including Morgan Stanley , Bank of America and Barclays lent Musk around $13 billion to buy Twitter a year ago this coming Friday. Under normal circumstances, they would have unloaded the debt to Wall Street investment firms soon thereafter. But investor appetite for Twitter, which Musk has since renamed X, has cooled since the billionaire took over, forcing the banks to hold the debt on their own balance sheets at a discounted value.

Persons: Jerod Harris, Morgan Stanley, Musk Organizations: Twitter, Getty, Vox Media, Elon Musk’s, Bank of America, Barclays, Wall Locations: Wall Street

Ted Pick, who leads Morgan Stanley’s investment-banking and trading operations, will succeed James Gorman as chief executive. Photo Illustration: Morgan Stanley, Angus Mordant/Bloomberg NewsMorgan Stanley said Wednesday that it named Ted Pick as its next chief executive to succeed longtime CEO James Gorman , ushering in a new era for the Wall Street powerhouse. Pick, who leads Morgan Stanley ’s investment-banking and trading operations, was one of three finalists selected as possible successors for Gorman, who said in May that he would step down from the CEO role he has held since 2010.

Persons: Ted Pick, Morgan Stanley’s, James Gorman, Morgan Stanley, Angus Mordant, Bloomberg News Morgan Stanley, Morgan Stanley ’, Gorman Organizations: Bloomberg News, Wall Street

☆ Goldman Sachs Veteran to Become CEO of Asset-Management Firm
▼ + stars: | 2023-10-23 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

Goldman Sachs has seen several executives depart recently to join other firms. Photo: Marissa Alper for The Wall Street JournalGoldman Sachs veteran Luke Sarsfield , one of several executives to leave the bank recently, is set to become chief executive of asset manager P10 . Dallas-based P10, which specializes in so-called alternative investments, plans to announce the move Monday, people familiar with the matter said.

Persons: Goldman Sachs, Marissa Alper, Luke Sarsfield Organizations: Wall Street Locations: Dallas

☆ Bill Ackman Tweets a Lot of Big Ideas. His Biggest Might Be Combining With Twitter Itself.
▼ + stars: | 2023-10-01 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/tech/bill-ackman-tweets-a-lot-of-big-ideas-his-biggest-might-be-combining-with-twitter-itself-f2cb53af

Persons: Dow Jones

☆ Lazard’s New CEO Peter Orszag Wants to Double Revenue by 2030
▼ + stars: | 2023-09-14 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/lazards-new-boss-lays-out-strategy-693c819f

Persons: Dow Jones

☆ Carl Icahn Should Be Sailing Into the Sunset. Instead, He’s Scrambling to Save His Empire.
▼ + stars: | 2023-08-13 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/carl-icahn-should-be-sailing-into-the-sunset-instead-hes-scrambling-to-save-his-empire-8fd1f9e0

Persons: Dow Jones, carl, icahn

☆ Coach Owner Strikes $8.5 Billion Deal for Parent of Michael Kors, Versace
▼ + stars: | 2023-08-10 | by ( Lauren Thomas | Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/coach-owner-near-deal-to-take-over-parent-of-michael-kors-versace-91912d7

Persons: Dow Jones, michael, 91912d7

☆ Coach Owner Near Deal to Take Over Parent of Michael Kors, Versace
▼ + stars: | 2023-08-09 | by ( Lauren Thomas | Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/coach-owner-near-deal-to-take-over-parent-of-michael-kors-versace-91912d7

Persons: Dow Jones, michael, 91912d7

☆ Troubles at Barclays Prompt a Shake-Up—and Banker Exits
▼ + stars: | 2023-07-29 | by ( Cara Lombardo | Josh Mitchell | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/troubles-at-barclays-prompt-a-shake-upand-banker-exits-a71a5f95

Persons: Dow Jones Organizations: barclays

☆ Trian Co-Founder Ed Garden Launches Family Office
▼ + stars: | 2023-07-20 | by ( Cara Lombardo | Lauren Thomas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/trian-co-founder-ed-garden-launches-family-office-7e6ee48c

Persons: Dow Jones

☆ Carl Icahn Gets Breathing Room From Lenders Following Short-Seller Attack
▼ + stars: | 2023-07-10 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/carl-icahn-gets-breathing-room-from-lenders-following-short-seller-attack-7f44133c

Persons: Dow Jones, carl

☆ Lazard Fires Top Restructuring Banker Accused of Harassing Employees
▼ + stars: | 2023-07-06 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/lazard-fires-top-restructuring-banker-accused-of-harassing-employees-7fb45cd1

Persons: Dow Jones, lazard

☆ On Wall Street, Lawyers Make More Than Bankers Now
▼ + stars: | 2023-06-22 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/on-wall-street-lawyers-make-more-than-bankers-now-ae8070a7

Persons: Dow Jones

☆ Top Morgan Stanley M&A Banker to Join Law Firm Paul Weiss
▼ + stars: | 2023-06-07 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/top-morgan-stanley-m-a-banker-to-join-law-firm-paul-weiss-bab8b8c2

Persons: Dow Jones, stanley, weiss, bab8b8c2 Organizations: paul

☆ Wall Street Mobilizes for a Presidential Election, Reluctantly
▼ + stars: | 2023-05-29 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/wall-street-mobilizes-for-a-presidential-election-reluctantly-49b4b735

☆ Wall Street Dreads Biden-Trump Rematch
▼ + stars: | 2023-05-29 | by ( Cara Lombardo | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/wall-street-mobilizes-for-a-presidential-election-reluctantly-49b4b735

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/lazard-ceo-ken-jacobs-prepares-to-step-down-yield-reins-to-lieutenant-c33f188e

☆ Carl Icahn Prepares for Proxy Fight at Illumina
▼ + stars: | 2023-03-13 | by ( Lauren Thomas | Cara Lombardo | ) www.wsj.com time to read: 1 min

Illumina was revered for its DNA-sequencing capabilities and was valued at more than $70 billion in summer 2021. Carl Icahn is preparing a proxy fight at Illumina Inc., arguing the biotechnology company cost its shareholders roughly $50 billion by plowing ahead with a risky acquisition despite opposition from regulators. The billionaire activist plans to nominate three people to the San Diego, Calif., company’s board, according to a letter Mr. Icahn plans to send to Illumina’s shareholders Monday that was viewed by The Wall Street Journal.

☆ Carl Icahn Has More Than 8% Stake in Beverage-Can Maker Crown Holdings
▼ + stars: | 2022-11-03 | by ( Cara Lombardo | Lauren Thomas | ) www.wsj.com time to read: 1 min

Billionaire activist investor Carl Icahn has a stake worth about $700 million in Crown Holdings, making him the second-largest shareholder. Carl Icahn has a sizable stake in Crown Holdings Inc. and believes the beverage-can maker should shed noncore units and buy back more stock, according to people familiar with the matter. The billionaire activist investor has a stake worth about $700 million, making him the company’s second-largest holder, the people said.

Banks have started to send $13 billion in cash backing Elon Musk’s takeover of Twitter according to people familiar with the matter, the latest sign the $44 billion deal for the social-media company is on track to close by the end of the week after months of twists and turns. Mr. Musk late Tuesday sent a so-called borrowing notice to the banks that agreed to provide him with the debt for the purchase, one of the people said. That kicked off a process that is currently under way by which banks will deposit funds they are on the hook for into an escrow account after hammering out final details of the debt contracts, the people said.

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