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☆ Inside the Fight Over Software That Tells Landlords to Hike Your Rent
▼ + stars: | 2024-04-10 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

Rents soared thanks to a shortage of apartment units, remote workers' desire for more space, and a daunting for-sale market that kept many renters stuck in place. Without RealPage, the plaintiffs argue, landlords would be hesitant to jack up rents; instead, they'd focus on keeping their buildings full. In short, the lawsuits that started with apartment rents could one day change how we pay for everything. By turning over pricing to the algorithm, plaintiffs say, RealPage's clients are encouraged to push rents higher than if they'd left the decisions up to humans. The RealPage cases are about far more than apartment rents.

Persons: RealPage, Kris Mayes, they'll, they'd, —, Zillow, there's, Marie Claire Tran, Leung, Tran, Matt Damon, Maureen Ohlhausen, Bob, Ohlhausen, Ed Rogers, Ballard Spahr, Jeffery Cross, Smith Gambrell Russell, didn't, it'll Organizations: Revenue Management, ProPublica, National Housing Law, FBI, RealPage, Department, Federal Trade Commission, Politico, Washington, Justice Department, FTC Locations: Texas, you've, Phoenix, Tucson, Washington, DC, RealPage, Arizona, Tennessee

☆ There are green shoots appearing in the IPO market. Here are the stocks to watch going public soon
▼ + stars: | 2024-04-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Two months ago, I wrote a story entitled, "The IPO market is looking very shaky and facing challenges galore." Two months later, the IPO market is still shaky, but there are definite signs of improvement. Second, three $100 million IPOs have filed to go public in the past week, including Viking (the cruise line operator) and Rubrik, a data management platform. Greg Martin at Rainmaker Securities told me that the recent performance of Reddit and Astera Labs, "Were nice shots in the arm for the IPO market. Even with markets at new highs, the specter of interest rates creeping up is still hanging over the IPO market.

Persons: Matt Kennedy, Reddit, Greg Martin, Ibotta, Ingram, Del, Viking, Howe Ng, I'm, Martin, Rainmaker, Santosh Rao Organizations: IPOs, Viking, Renaissance Capital, Astera Labs, Rainmaker Securities, NYSE, UL Solutions, Underwriters Laboratories, Nursing, Centuri Holdings, Labs, Companies, Ingram Micro, Epic, Manhattan Venture Partners Locations: IPOs, Del Monte

☆ Landlords Use a Popular Software Tool to Jack up Apartment, Home Rents
▼ + stars: | 2024-04-10 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

☆ The IPO market is looking very shaky and facing challenges galore
▼ + stars: | 2024-02-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The IPO market is looking very shaky and confronted with a host of challenges that are holding it back. Regardless, recent IPO performances have been poor across the board. IPO investors cheered the advance by bidding up the Renaissance Capital IPO ETF (IPO), a basket of recent IPOs, in December, assuming the IPO market would open up. CNBC's Jim Cramer, speaking early Thursday on Squawk on the Street , highlighted another obstacle for IPO buyers: investors are getting comfortable returns elsewhere with far lower risk. When David Faber asked why the IPO market was off to such a slow start with the markets so strong, Cramer replied, "I think it's the five percent solution," he said, referring to the ocean of money still sitting in money market funds.

Persons: Jay Powell's, Birkenstock, Smith Douglas, Amer, Greg Martin, Martin, Matt Kennedy, Kennedy, What's, Rainmaker, Del, CNBC's Jim Cramer, David Faber, Cramer Organizations: Amer, Wilson, NYSE, Smith Douglas Homes, BrightSpring, Renaissance Capital, Rainmaker Securities, Renaissance, Microsoft Locations: EBITDA, Squawk

☆ Dud IPO market closes 2023 with a whimper for the second year in a row
▼ + stars: | 2023-12-08 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

Another year, another lousy IPO market. The 2023 IPO market is closing with a whimper, not a bang. You'd think the IPO market would be bubbling, but it's dead quiet. Source: Renaissance Capital For a good part of the year, the excuse was interest rates were rising, the market was too volatile, and the after market performance of 2023 IPOs was terrible. The November rally is too little too late to save the IPO market Unfortunately, it all came a little too late to rescue 2023.

Persons: Birkenstock, You'd, Rivian, Doordash, IPOs, Matt Kennedy, Don Short, you've, haven't, confidentially, Waystar, Kim Kardashian's, Musk, Howe Ng, Ng, Kyle Stanford, Instacart, it's, James Ulan, Stanford, Pitchbook, Greg Martin Organizations: Renaissance, That's, IPOs, Hertz, Sotera, ARM, Renaissance Capital, Klarna, Microsoft, Forge Global, Bloomberg, SpaceX, Nvidia, Rainmaker Securities Locations: Pitchbook

☆ Tenants and a top prosecutor have accused major landlords and a popular apartment-pricing site of colluding to inflate rents. A legal expert says it shows algorithmic collusion is no longer 'science f
▼ + stars: | 2023-11-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementYou're probably aware that a severe housing shortage has driven rents and home prices through the roof in recent years. Now, several lawsuits filed across the country contend that the algorithmic software some big landlords use to determine rents has artificially inflated prices. This allegation is unusual, given that RealPage doesn't have any market power over its clients, Stucke said. AdvertisementProsecutors also allege that RealPage monitors the rents that its clients charge and disciplines landlords who don't adhere to its recommendations.

Persons: —, Brian Schwalb, RealPage, They're, Maurice Stucke, RealPage didn't, Axios, Department —, Donald Trump —, Steve Winn, ProPublica, Stucke Organizations: Service, University of Tennessee, DOJ, The, Department, Prosecutors, Department of Justice, Democratic, Federal Trade Commission, Computer Locations: Washington, DC, RealPage, Texas, Seattle , New York, Boston, Colorado, Nashville

☆ The IPO market has grown quiet again. Here's what is behind the shift in sentiment
▼ + stars: | 2023-11-09 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

"That was a big wet blanket" for the IPO market, Greg Martin from Rainmaker Securities told me. Buy now, pay later firm Klarna, another oft-mentioned IPO candidate, told CNBC it has no immediate plans to go public. This is in stark contrast to most years, when big IPOs went public in November and December. A month earlier, in November 2020, Sotera Health raised $1.1 billion, and Miravai Life Sciences raised $1.6 billion. By contrast, a normal year should see at least $50 billion raised.

Persons: Don Short, Matt Kennedy, Greg Martin, IPOs, Klarna, Rivian, Hertz, Braze, Sweetgreen, Allbirds, Airbnb, Doordash, it's fizzling, Instacart, Kennedy, Homebuilder Smith Douglas, Morgan Stanley, there's Organizations: New York Stock Exchange, NYSE, Renaissance Capital, Rainmaker Securities, Wall Street Journal, CNBC, Bloomberg, Sciences, Renaissance, That's, IPOs, Healthcare Locations: Cava, U.S

☆ The House G.O.P Has Its Leader. But Can He Be a Rainmaker?
▼ + stars: | 2023-10-28 | by ( Shane Goldmacher | More About Shane Goldmacher | ) www.nytimes.com time to read: +1 min

In the days since he took the gavel, Mr. Johnson called Dan Conston, the president of the Congressional Leadership Fund, the main House Republican super PAC, and is expected to play a significant role in that group’s fund-raising going forward. Mr. Johnson has large financial shoes to fill. Mr. McCarthy’s transfers to the party’s House campaign committee amount to more than 25 percent of the $70.1 million raised this year. Then there are the hundreds of millions of dollars that Mr. McCarthy has helped raise in recent years for the House G.O.P.’s main super PAC, which has been closely aligned with him. “I helped build the majority, and I’m not going to walk away from it,” Mr. McCarthy said.

Persons: Johnson, Dan Conston, — Mr, McCarthy, “, I’m, ” Mr Organizations: Congressional, Fund, House Republican, PAC, —, Punchbowl News, National Republican

☆ As Movie Theaters Embrace Swift, One Showcases Her Exes
▼ + stars: | 2023-10-20 | by ( Matt Stevens | More About Matt Stevens | ) www.nytimes.com time to read: +1 min

Like movie theaters across the country that are facing the fallout of an actors’ strike and the shift to streaming, the Oriental Theater in Milwaukee was quite pleased to have Taylor Swift’s concert film coming to its screens. But “Taylor Swift: The Eras Tour,” which has been a box office rainmaker, comes with an unconventional stipulation: Theaters may only show it Thursdays through Sundays, said Cara Ogburn, the artistic director of Milwaukee Film, which runs the Oriental Theater. So what to do, she wondered, on the other three days of the week? “What if we show all Jake Gyllenhaal movies,” Ogburn suggested offhandedly, initially as a joke. The team’s resident Swiftie assured leadership that the theater would not be canceled for a lineup based on the pop star’s famous exes.

Persons: Taylor, “ Taylor Swift, Cara Ogburn, Jake Gyllenhaal, ” Ogburn, offhandedly, Swiftie Organizations: Oriental Theater, Milwaukee Film Locations: Milwaukee

☆ Nomura is merely first in line for new China risk
▼ + stars: | 2023-09-25 | by ( Una Galani | ) www.reuters.com time to read: +4 min

After all, Nomura is a minnow in China, ranking 82nd in investment banking in the country by net revenue in 2021, data from Dealogic shows. Like most of its more successful global investment banking peers, Nomura has an eye on deepening its business in China. It acquired a license for a majority-owned securities joint venture, Nomura Orient International Securities, in 2019. Follow @ugalani on TwitterCONTEXT NEWSAuthorities in China have barred Charles Wang Zhonghe, China investment banking chair at Nomura, from leaving the mainland, Reuters reported on Sept. 25 citing two sources with knowledge of the matter. Beijing’s investigation into Cong, former president of China Renaissance Holdings, resulted in the investment bank’s founder Bao being taken away by Chinese authorities in February.

Persons: Charles Wang Zhonghe, Nomura, Goldman Sachs, Morgan Stanley, Wang, Bao Fan, hasn’t, Xi Jinping, Banks, Cong Lin, Bao, Cong, Nomura’s Wang, Antony Currie, Oliver Taslic Organizations: Reuters, Financial Times, UBS, HK, China Securities, Nomura, Commercial Bank of China, China, Apple, Nomura Orient International Securities, Authorities, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Thomson Locations: MUMBAI, China, Hong Kong, It’s, Singapore, People’s Republic

☆ Insider Today: Tech's biggest lie
▼ + stars: | 2023-09-18 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In recent years, some members of Congress have lacked a basic understanding of technology, let alone something as complex as generative AI. Marc Benioff spent much of the annual Dreamforce conference sounding the alarms on how untrustworthy generative AI is right now. Marc Benioff spent much of the annual Dreamforce conference sounding the alarms on how untrustworthy generative AI is right now. It's International Equal Pay Day. The UN General Assembly created this day in 2019 with "equal pay for work of equal value" in mind.

Persons: Mark Sumersett, isn't, Simon Simard, Daron Acemoglu, Insider's Aki Ito, Acemoglu, hasn't, Aki, It's, Nat Friedman, Rebecca Zisser, Peter Brown, Marc Benioff, Salesforce, Greg Johnson, Gary Reyes, Janette Beckman, Getty, Johnny Nunez, Lynn Goldsmith, Dakarai Akil, Tupac, Akon, Sean Kingston, Gucci Mane, There's, Carly Pearce, Valter Longo, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, MIT, Renaissance Technologies, Bloomberg Beta, McAfee, Oakland Tribune Staff, Interscope Records, Academy of Country, FOX, UN, Assembly, Getty Locations: Wall, Silicon, New York City, San Diego, London, New York

☆ 'The scholar, the pragmatist, and the rainmaker:' How three Bloomberg Beta VCs bet on AI before it became a buzzword
▼ + stars: | 2023-09-18 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +9 min

Bahat brings this same radical directness to Bloomberg Beta, the early-stage venture capital fund housed within the larger Bloomberg empire that he's run for the past decade. And Bloomberg Beta was making investments in generative AI as far back as 2015, before the term "generative AI" even existed. "It felt like we were just waiting for the right moment," said Cham, Bloomberg Beta partner and de-facto chief technologist, "where the rest of the world would see it." Bloomberg Beta made the decision early on to publish its entire operating manual on GitHub, including sensitive information about average check size and investment criteria. Kieran Snyder, the founder of generative AI startup Textio which Bloomberg Beta invested in in 2015, has a shorthand for describing the role of Beta's three partners.

Persons: Roy Bahat's, Bahat, James Cham, Karin Klein, Shivon Zillis, Elon Musk's, Cham, ChatGPT, VCs, Bloomberg Beta, Dan Doctoroff, Mike Bloomberg, Doctoroff, Bahat's chutzpah, Bloomberg —, Bloomberg Philanthropies, Tade Oyerinde, Sam Altman, Peter Thiel's Founder's, Roy didn't, Oyerinde, Kieran Snyder, who's, Apple Lisa, Klein, Karen, Snyder, Roy, Zilis Organizations: Port Authority, World Trade Center, IGN, Bloomberg Beta, Bloomberg, LinkedIn, Elon, Beta, Apple, New Locations: New York, Silicon Valley, East, California

☆ The free lunch is over for Wall Street's programmers
▼ + stars: | 2023-06-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +4 min

For as long as I can remember, the safest place on Wall Street for job security was in tech. But according to one Wall Street billionaire, that sentiment won't hold true for much longer. As Insider's Paige Hagy reports, Griffin instead highlighted how programmers need to position themselves to provide the most value to companies in this post-ChatGPT world. In the before times (pre-ChatGPT), no one was really questioning the value programmers were adding. At least that's the take from Wall Street vet Marty Chavez.

Persons: Dan DeFrancesco, Pharrell Williams, we've, BlackRock's, I'm, Wutthichai, Ken Griffin, Griffin, Griffin wasn't, Insider's Paige Hagy, it's, Read, Flo Rida, Drake, Tommaso Boddi, Erica, John Waldron, Kim Kardashian, Marty Chavez, he's, Ray Dalio, Everybody's, Jeffrey Cane, Nathan Rennolds Organizations: Bank of America, Wall Street, BlackRock, Goldman, SKKY Partners, Wall, Bridgewater, LinkedIn Locations: NYC, London, BlackRock, New York

George Clinical declined to comment. The private equity firm has entered a deal to buy most of George Clinical, the clinical research organisation said in December, adding the transaction was subject to FIRB approval. George Clinical did not disclose a sale price but said its parent, the George Institute, a medical research group, would retain an undefined stake. The George Clinical deal would involve the holding of healthcare and patient data which is considered sensitive in Australia. Hillhouse has offered to ensure data remains onshore and not be shared overseas, the people said.

Persons: George Clinical, Hillhouse, Zhang Lei, George, George Clinical's, Scott Murdoch, Kane Wu, Sumeet Chatterjee, Christopher Cushing Organizations: Hillhouse Capital, Foreign Investment, Board, of, Treasury, George Institute, Yale University, Tencent Holdings, HK, JD.com Inc, Baidu Inc, Koninklijke Philips NV, Thomson, & $ Locations: HONG KONG, Beijing, Hong Kong, Singapore, London, United States, Australia, China, Refinitiv, Netherlands, Asia, Pacific, Sydney

☆ Private equity hurtles towards hard Asia reset
▼ + stars: | 2023-06-07 | by ( Una Galani | ) www.reuters.com time to read: +4 min

SINGAPORE, June 7 (Reuters Breakingviews) - Sequoia’s decision to carve out its China business formalises a push for a hard reset in Asia that private equity firms have until now largely been grappling with behind the scenes. These country-agnostic funds accounted for just over half the money raised in 2022 in the region, a 22-year high. Granted, these South and Southeast Asia markets are small at present compared to China; that’s why more firms are seeking bigger-ticket buyouts in Australia and Japan. That will eventually weigh on performance in the region, which for top-quartile Asia funds last year was a very respectable median 25% net internal rate of return, per Preqin. Private equity’s cooling relationship with China, though, is likely to hit hard for most.

Persons: Neil Shen, Shailendra Singh, Singh, Zhang Lei, There’s, Shen, Antony Currie, Katrina Hamlin Organizations: Reuters, Bain & Co, Bain Capital, KKR, XV Partners, Sequoia, Twitter, NEWS Venture, Sequoia Capital, Thomson Locations: SINGAPORE, China, Asia, Republic, Sequoia, India, Southeast Asia, Greater China, Malaysia, Philippines, Indonesia, Thailand, Hillhouse, Singapore, Australia, Japan, U.S

☆ Meet the Morgan Stanley rainmaker tapped to chair the M&A division of law firm Paul Weiss as fears of investor activism grow
▼ + stars: | 2023-06-07 | by ( Kaja Whitehouse | ) www.businessinsider.com time to read: +3 min

Morgan Stanley rainmaker Robert Kindler is leaving the investment bank for law firm Paul Weiss. Kindler, global chair of mergers and acquisitions at Morgan Stanley, has been named global chair of M&A at Paul, Weiss, Rifkind, Wharton & Garrison LLP. "Paul, Weiss has the premier franchise for M&A and activism defense and I am excited to become a part of it." Last year, Paul Weiss represented the board of McDonald's in its proxy fight with activist investor Carl Icahn. In 2000, he joined JPMorgan, where he was named global head of M&A before joining Morgan Stanley in 2006.

Persons: Morgan Stanley, Robert Kindler, Paul Weiss, Weiss, Garrison, Kindler, Paul, Carl Icahn, Leon Black's, Jeffrey Epstein, Goldman Sachs, John Waldron, Waldron, Scott Barshay, Brad Karp, Moore, Morgan, Eaton Vance, James Gorman Organizations: Morning, Paul, Apollo, NFL, Barshay, JPMorgan, Time Warner, Labor Locations: Rifkind, Wharton, Cravath, ETrade, Kindler

One recipient of Parnas’ donations -- Florida Governor Ron DeSantis -- has said he was barely an acquaintance. Two sources close to DeSantis during his 2018 campaign confirmed the texter’s number belonged to DeSantis at that time. “We became very friendly.”In 2018, Parnas was a well-known figure in Trump’s orbit, often seen with Giuliani. On June 21, 2018, Parnas’ company, Global Energy Producers, donated $50,000 to DeSantis’ campaign for governor. Three weeks later, DeSantis added, “Make sure he gives a lot.”Pereira later co-hosted a fundraiser for DeSantis with Parnas and his company donated $115,000 to DeSantis’ 2018 campaign, campaign finance records show.

☆ Texts tie DeSantis closely to Trump insider Lev Parnas in 2018 race, says report
▼ + stars: | 2023-05-22 | by ( ) www.cnbc.com time to read: +16 min

One recipient of Parnas' donations -- Florida Governor Ron DeSantis -- has said he was barely an acquaintance. Six days later, DeSantis told reporters that Parnas "was just like any other donor, nothing more than that." Two sources close to DeSantis during his 2018 campaign confirmed the texter's number belonged to DeSantis at that time. On June 21, 2018, Parnas' company, Global Energy Producers, donated $50,000 to DeSantis' campaign for governor. Pereira later co-hosted a fundraiser for DeSantis with Parnas and his company donated $115,000 to DeSantis' 2018 campaign, campaign finance records show.

☆ Want to look like a rainmaker? Wall Street's wardrobe whisperer offers her top 19 do's and don'ts to nail the partner look.
▼ + stars: | 2023-05-21 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +3 min

Jessica Cadmus has been dressing Wall Street's top execs since she worked at Goldman Sachs. But things have changed, and dressing like a rainmaker isn't as simple as it used to be. At least that's how Jessica Cadmus, a personal stylist specializing in dressing Wall Street execs, sees it. Cadmus' past life working for one of Wall Street's most prestigious banks grants her a unique perspective. Cadmus spends her days helping them look both stylish and office appropriate, a task complicated by the move the business casual.

☆ 2023 Lucid Air Touring: A Much Maligned EV Deserves a Second Look
▼ + stars: | 2023-04-21 | by ( Dan Neil | ) www.wsj.com time to read: 1 min

HOLLOW CHEEKS The sinuous Lucid Air Touring features dramatic negative drafts between the wheel wells, which create a lower, more slender side view. In deliberate contrast to Tesla’s monochromatic sobriety, the Lucid design features intricate brightwork adorning the nose of the car and the lower perimeter. Photo: LUCID MOTORSTHE CALIFORNIA-BASED luxury EV car maker Lucid Motors—makers of our wondrous test car, the 2023 Lucid Air Touring Edition sedan—is a bit of a hot mess, business-wise. Eighteen months ago the company opened the doors of its assembly hall outside of Phoenix and invited journalists to drive the company’s mega-output flagship, the Air Dream Edition Performance, a catapult drawn taut with 1,111 electric horsepower. Executives then had hoped to deliver 20,000 sedans a year, even as the company added capacity for the real rainmaker, the Lucid Gravity SUV.

☆ Why Michael Bloomberg is the keeper of the keys on Wall Street
▼ + stars: | 2023-04-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Bloomberg deals in data — via its ubiquitous terminal — which serves as the lifeblood of Wall Street. (A funny nugget from the FT story: Bloomberg is not part of the Bloomberg Billionaires Index. In many ways, the Bloomberg terminal is the cockroach of Wall Street. Tiger Global's down bad. Here's more on Tiger Global's unique approach to investing in startups and why it backfired.

☆ We Tested Cold-Brew Coffee Makers—Here Are Our 3 Favorites
▼ + stars: | 2023-04-20 | by ( Nick Guy | ) www.wsj.com time to read: +11 min

And many, including our top pick, the Oxo Brew Cold Brew Coffee Maker, make a brew that easily rivals a barista’s best. Best overallBest for saving spaceBest for coffee on tapOthers you should know aboutHow we pickedBest overallbuy side top pick OXO Brew Cold Brew Coffee Maker $41 at Amazon $ 52 Save $ 11 $52 at OXO Making delicious cold brew does not get much easier than with this OXO coffee maker. Best for saving spaceOXO Brew Compact Cold Brew Coffee Maker $27 at Amazon $ 34 Save $ 7 $35 at Bloomingdales This is the best cold brew maker if space is at a premium and you don’t drink tons of coffee. GrowlerWerks’ uKeg Nitro Cold Brew Coffee Maker is a different kind of cold brew maker, pumping out a brew that has the consistency of a Guinness. Cold Brew Championships–winning baristas to better understand what it takes to make great cold brew coffee.

Persons: Nick Guy, it’s, You’ll, both.We, that’s, There’s, you’re, Takeya’s, there’s, Brew Kit, It’s Organizations: Amazon, System, Brew, Guinness, Cold Locations: Bloomingdales

April 11 (Reuters) - Mark Shafir, one of Citigroup Inc's (C.N) top dealmakers, is retiring after a career spanning over three decades during which he advised some of the world's largest corporations on several landmark deals. Shafir, who has led Citi's global mergers and acquisitions unit since joining the bank in 2008, will stay on till mid-May to help with the transition, according to an internal memo sent on Tuesday by Tyler Dickson and Manuel Falco, Citi's global co-heads of banking, capital Markets and advisory. Cary Kochman, who has served as co-head of global M&A at Citi alongside Shafir since 2017, will continue to lead the franchise. "(Mark) has been one of the lead drivers of our M&A business and has played a central role developing the franchise, which grew significantly under his leadership," Dickson and Falco said in the memo. Shafir was instrumental in shaping Citi's M&A franchise during his tenure and advised on several landmark transactions.

☆ Inside a shake-up at the world's 'most feared law firm'
▼ + stars: | 2023-03-30 | by ( Casey Sullivan | ) www.businessinsider.com time to read: +30 min

It's been a tumultuous period for Quinn and the storied law firm he built over the past 37 years — now the world's largest litigation firm with hourly rates that can be north of $2,000. But behind the scenes, a shift at QE has been the talk of elite law firm circles. Indeed, the firm – known as a singular, even freewheeling, institution that brands itself as the "#1 Most Feared Law Firm in the World" — may appear to be less in the image of its founder as a generational shift brings changes. "We all thought it was important that the world understands this is not a one generation law firm." One former firm partner in California says he believes Quinn's inner circle generally got better deals.

[1/2] The logo of the Swiss bank Credit Suisse is seen in Zurich, Switzerland March 20, 2023. While the nation's central bank and financial regulator publicly declared that Credit Suisse was sound, behind closed doors the race was on to rescue the nation's second-biggest bank. The Swiss National Bank declined to comment while the finance ministry did not respond to a request for comment. Battered by years of scandals and losses, Credit Suisse for months had been battling a crisis of confidence of its own making. By Wednesday, two days later, Credit Suisse was swept up in a full-blown crisis.

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