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☆ New York Community Bancorp, Winner in Last Year’s Crisis, Takes a Hit
▼ + stars: | 2024-01-31 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +1 min

Less than a year ago, New York Community Bancorp looked like one of the big beneficiaries of a crisis among its peers when it swooped in to take over most of the assets of ailing Signature Bank and catapulted to over $100 billion in assets. Its stock plummeted 38 percent to a 25-year low, dragging down shares of other regional banks 6 percent on average. New York Community Bancorp tried to put a brave face on the news — an accompanying release included the headline “Record Results for 2023,” true inasmuch as the bank is now much larger than before the Signature acquisition — but analysts and investors quickly zeroed in the weaknesses. It was an uneasy reminder of last March’s tumult, when problems at Silicon Valley Bank spilled over into the industry, felling among others Signature, a bank known for its real estate, legal and cryptocurrency lending. New York Community Bancorp bought much of Signature out of federal receivership.

Organizations: New York Community Bancorp, Signature Bank, Bank Locations: Silicon

☆ Citi Is Sued by New York State Over Account Transfer Fraud
▼ + stars: | 2024-01-30 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +1 min

New York State’s attorney general sued Citi on Tuesday, accusing it of failing to stop scammers from stealing an unspecified amount of money from customer accounts, and saying the bank should reimburse fraud victims for any losses. The lawsuit, filed in federal court, laid out a variety of ways in which Citi clients had been fooled into disclosing sensitive information that let hackers gain access to their accounts and steal millions of dollars. In what are known as phishing scams, some of the cases involved Citi’s customers receiving text messages or emails that purported to be from Citi but were really from criminals. The New York attorney general, Letitia James, said that Citi should have been suspicious when large transfers were requested from customer accounts that had not had such activities for decades — and that only minutes before had their passwords changed. Citi later denied her request to be reimbursed, saying it was her fault for clicking on the scammer’s message.

Persons: Letitia James Organizations: Citi, New Locations: York, New York

☆ A Famed Analyst’s Final Forecast Is the Fall of the U.S. Economy
▼ + stars: | 2024-01-27 | by ( Rob Copeland | ) www.nytimes.com time to read: +1 min

Over his 54 years as a financial analyst, Richard X. Bove perfected the art of grabbing attention. Through thousands of newspaper interviews, cable news appearances and radio segments, Mr. Bove turned what can be a dull, by-the-numbers career into a more showy one. In an interview with The New York Times, Mr. Bove (pronounced “boe-VAY”), who goes by Dick, shared a dire outlook on the U.S. economy and his former profession. Many analysts are rewarded for coming up with unique but inconsequential and “arcane” ideas, he said, peppering his criticism with profanities. Mr. Bove worked at 17 brokerage firms during his career.

Persons: Richard X, Bove, ”, “ boe, VAY, Dick, Mr Organizations: Banker, Bloomberg, The New York Times Locations: U.S, Tampa, China

☆ Jamie Dimon Reshuffles Management Team at JPMorgan
▼ + stars: | 2024-01-26 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +1 min

JPMorgan Chase is reshuffling its leadership team, a move that many consider a succession plan even though its longtime chief executive, Jamie Dimon, has signaled he’s staying put. Mr. Dimon, 67, has been head of what is now the largest bank in the United States for nearly two decades, and repeatedly brushed off suggestions that he might step aside. It said that Daniel Pinto, the bank’s chief operating officer and Mr. Dimon’s deputy, would no longer handle the bank’s daily operations. Ms. Piepszak, who co-heads JPMorgan’s massive consumer banking business, has long been seen as a potential candidate for the top job. Mr. Rohrbaugh had been one of the co-heads of the bank’s markets and securities business.

Persons: JPMorgan Chase, Jamie Dimon, he’s, Dimon, Daniel Pinto, Dimon’s, Pinto, ” Mr, Pinto’s, Jennifer Piepszak, Troy Rohrbaugh, Piepszak, Rohrbaugh Organizations: JPMorgan Locations: United States

MONTPELIER, Vt. (AP) — Walgreens has agreed to pay a $275,000 fine to settle allegations that some of its Vermont stores temporarily closed without notice, had untenable working conditions for pharmacists and made medication and vaccination errors during the coronavirus pandemic, the secretary of state announced. The Vermont Board of Pharmacy approved the fine as part of the settlement between the state Office of Professional Regulation and the national pharmacy chain, Secretary of State Sarah Copeland Hanzas said Wednesday, calling it a “big win for Vermont consumers.”“I am proud of the work our OPR investigators and attorneys have done to hold Walgreens accountable and to ensure safe conditions for patients and pharmacy staff," Copeland Hanzas said in a statement. Walgreens said in a statement Thursday that “it disputes the accuracy of the state’s allegations and admits no liability; however, we are pleased to have reached this settlement.”The fine follows an 18-month investigation after 70 complaints regarding conditions across Walgreens' 32 Vermont stores, the secretary of state's office said. Political Cartoons View All 253 ImagesWalgreens signed a stipulation and consent order earlier this month with the state's prosecuting attorney. The order said the company has taken steps to improve, including by updating and standardizing policies and procedures for unanticipated pharmacy closings in Vermont; enabling patients to get their prescription filled at another pharmacy if there is a closing; and continuing to provide vaccine training to new and current pharmacy staff.

Persons: Sarah Copeland Hanzas, ”, Copeland Hanzas, Walgreens Organizations: Walgreens, Vermont, Pharmacy Locations: MONTPELIER, Vt, Vermont

HARRISBURG, Pa. (AP) — Pennsylvania's Republican Party on Monday endorsed York County's district attorney, Dave Sunday, for state attorney general out of a three-person field. The party's endorsement came the day before candidates could begin collecting the required number of voter signatures to get on Pennsylvania's primary ballot. Sunday won the endorsement over state Rep. Craig Williams and Katayoun Copeland, both former federal prosecutors who hail from Delaware County in southeastern Pennsylvania. No Republican has been elected attorney general since 2008. Josh Shapiro ’s second term as attorney general and doesn’t plan to run for the office.

Persons: —, Dave Sunday, Craig Williams, Katayoun Copeland, Copeland, Joe Biden’s, Donald Trump’s, Jack Stollsteimer, Jared Solomon of Philadelphia, Eugene DePasquale, Joe Kahn, Keir Bradford, Michelle Henry, Josh Shapiro ’, Shapiro, Henry, ___, Marc Levy Organizations: Republican Party, Monday, York, Sunday, Republican, Gov Locations: HARRISBURG, Pa, Delaware County, Pennsylvania, Montgomery

☆ Goldman Sachs Sticks the Landing at End of Tumultuous Year
▼ + stars: | 2024-01-16 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +1 min

Goldman Sachs on Tuesday reported its second consecutive quarter of steady profits, a return to form for the bank that has struggled with management missteps that tarnished its once untouchable reputation on Wall Street. The bank’s fourth-quarter profit of $2 billion was roughly equal to what it earned in the third quarter, but that was a sign of accomplishment. Helping the bottom line: Goldman cut 3,200 employees over the course of 2023, a 7 percent trim in its head count. Goldman’s stock rose about 2 percent , bringing the gain to roughly 10 percent gain over the past year. But shares are still lower than their 2021 peak and the bank’s full-year profit of $8.5 billion last year was the lowest since 2019.

Persons: Goldman Sachs, Goldman

☆ Former NFL linebacker Brandon Copeland shares his philanthropic initiatives
▼ + stars: | 2023-12-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer NFL linebacker Brandon Copeland shares his philanthropic initiativesNFL Veteran, Brandon Copeland, is giving back in a "December to Remember," a holiday shopping spree for kids. He shares more about the initiative and his work teaching financial literacy to athletes.

Persons: Brandon Copeland Organizations: NFL, NFL Veteran

☆ A C.E.O. Who Resigned in Scandal Now Wants More Money
▼ + stars: | 2023-12-02 | by ( Rob Copeland | More About Rob Copeland | ) www.nytimes.com time to read: +1 min

As chief executive of Wells Fargo, Timothy J. Sloan failed to clean up a string of scandals that shook the bank and abruptly stepped down amid widespread criticism more than four years ago. He now says Wells Fargo owes him at least $34 million in back pay. Mr. Sloan sued Wells Fargo on Friday, saying that the bank owed him for unpaid stock awards, bonuses and unspecified “emotional distress.” His lawyers said that the bank he formerly led made him a scapegoat for problems that predated his tenure, and they recast his resignation under fire in 2019 as “an act of further loyalty to the bank.”The lawsuit was a surprise move, inasmuch as Wells Fargo for years has been trying to move on from Mr. Sloan’s tenure and improve its relationship with both customers and regulators. A Wells Fargo spokeswoman, Beth Richek, said the bank stood behind its decision to withhold the pay. “Compensation decisions are based on performance,” she said in a statement.

Persons: Wells, Timothy J, Sloan, Wells Fargo, ”, Sloan’s, Beth Richek Locations: Wells Fargo

☆ Michael Jackson documentary: ‘Thriller 40’ focuses on the art, not the artist
▼ + stars: | 2023-12-01 | by ( Brian Lowry | ) edition.cnn.com time to read: +4 min

By sidestepping the philosophical questions about separating the art from the artist, “Thriller 40” can focus steadfastly on the music, and all the other ways Jackson influenced the industry, and less on the man himself. The documentary incorporates a bit of context about The Jackson 5, primarily to make the point that Jackson’s success as a solo artist was by no means a preordained conclusion. His success with 1979’s album “Off the Wall” offered a mere teaser of what was to come – the explosion of hits on his subsequent record “Thriller”in 1982, including the title track, “Bille Jean” and “Beat It.”Michael Jackson's music is explored in the documentary "Thriller 40." “Thriller 40” consciously and effectively brings the focus back to the music and the thrills he delivered as a performer. “Thriller 40” premieres December 2 on Paramount+ and at 8 p.m.

Persons: CNN — Michael Jackson, Nelson George, Jackson, Usher, Mary J, Blige, George, Michael Jackson ”, –, Misty Copeland, “ Bille Jean ”, Michael Jackson's, Robert Hilburn, Fred Astaire, “, John Landis, Jafaar Jackson Organizations: CNN, ”, MTV, Paramount, SHOWTIME, Motown, Los Angeles Times, Jackson, Showtime Locations: London

☆ IBM to end 401(k) match, offering a hybrid plan. Other firms can't 'pull off this type of change,' expert says
▼ + stars: | 2023-11-30 | by ( Stephanie Dhue | Stephanie-Dhue | ) www.cnbc.com time to read: +1 min

IBM, which decades ago helped lead the shift from defined benefit plans to defined contribution plans, recently told U.S. employees it will be scrapping its 401(k) match in favor of funding what it calls a "retirement benefit account." Starting next year, IBM will no longer provide a 5% match and a 1% automatic contribution into an employee's 401(k). IBM says the change adds a stable and predictable benefit to employees and helps diversity their retirement portfolios. "Under the plan, IBM bears 100 percent of the risk and must be prepared to pay the benefit at time of employee separation," IBM said in a statement. "Other companies may not have structure to pull off this type of change," said Craig Copeland, director of wealth benefits research at the Employee Benefit Research Institute.

Persons: Craig Copeland Organizations: IBM, Treasury, Finance, Research Institute Locations: New York

Williams, a former federal prosecutor and former U.S. Marine Corps pilot and prosecutor, is the third Republican to declare his candidacy. In an announcement video, Williams says, “I'm running for attorney general because I know how to deal with violence. As a freshman lawmaker, he became one of two House Republicans tapped to lead the impeachment of Philadelphia's progressive district attorney, Larry Krasner. The two other Republicans who have announced their candidacies are York County District Attorney Dave Sunday and former federal prosecutor Katayoun Copeland. Josh Shapiro 's second term as attorney general and doesn't plan to run for the office.

Persons: Philadelphia's, Joe Biden’s, Craig Williams, Williams, “, Joe Sestak, Larry Krasner, Krasner, Donald Trump’s, Dave Sunday, Katayoun Copeland, Jack Stollsteimer, Jared Solomon of Philadelphia, Eugene DePasquale, Joe Kahn, Keir Bradford, Michelle Henry, Josh Shapiro, Shapiro, Henry, Marc Levy Organizations: Republican, U.S . Marine Corps, U.S . Rep, Peco Energy Co, Exelon Corp, Republicans, University of Florida, York, Gov Locations: HARRISBURG, Pa, Philadelphia, Alabama, York County, Delaware County, Montgomery, Alaska

Stollsteimer joins a Democratic primary field that is already four-deep in which he will be the only elected prosecutor. In his campaign for attorney general, Stollsteimer will lean heavily on his experience as the twice-elected district attorney of Delaware County, Pennsylvania's fifth-most populous county sitting between Philadelphia and Delaware. In 2019, he won his race for district attorney, becoming the first Democrat to hold the office in Delaware County, once a Republican bastion that Democrats now control. On the Republican side, York County District Attorney Dave Sunday and former federal prosecutor Katayoun Copeland have announced their candidacies. Attorney General Michelle Henry does not plan to run to keep the office.

Persons: Jack Stollsteimer, Joe Biden’s, ” Stollsteimer, Stollsteimer, Donald Trump’s, ”, Fanta Bility, Jared Solomon of Philadelphia, Eugene DePasquale, Joe Kahn, Keir Bradford, Dave Sunday, Katayoun Copeland, Michelle Henry, Marc Levy Organizations: Democratic, Treasury Department, Democrats, Temple University, Republican, of Education, Philadelphia Inquirer Locations: HARRISBURG, Pa, Delaware County, Pennsylvania, Philadelphia and Delaware, “, Philadelphia, Chester, Montgomery, York County

☆ The Pension: That Rare Retirement Benefit Gets a Fresh Look
▼ + stars: | 2023-11-24 | by ( Martha C. White | ) www.nytimes.com time to read: +1 min

In an economy characterized by a volatile stock market and elevated inflation, a sure thing looks better than ever. For some Americans in the labor force right now, that looks like a pension. Striking members of the United Automobile Workers union made waves this year when the union’s leaders demanded the reopening of defined-benefit pension plans for workers hired after late 2007. leadership failed to persuade automakers to reopen the plans, the bold move didn’t go unnoticed by retirement benefit experts. did mention that in their negotiations, because that isn’t really something you would have seen 10 years ago,” said Craig Copeland, director of wealth benefits research at the Employee Benefit Research Institute, a nonprofit organization.

Persons: ”, Craig Copeland Organizations: United Automobile Workers, Research Institute

☆ Why Do Evil and Suffering Exist? Religion Has One Answer, Literature Another.
▼ + stars: | 2023-11-19 | by ( Ayana Mathis | ) www.nytimes.com time to read: +3 min

After a few months in fly-infested stables converted to bunkhouses, they are herded onto trains that take them to a remote part of Utah. The America the family sees from the window — their country — is exceedingly beautiful, a counterpoint to their grim situation. Late at night, the woman in the family recites the Lord’s Prayer. In Genesis, after Ham sees Noah naked, Noah curses Ham’s son Canaan — falsely identified by later interpreters as a progenitor of Egyptians and other dark-skinned people: “Cursed be Canaan! Today, we are once again witness to mothers wailing over their children’s dead bodies, bombed hospitals — violence and suffering so vast it is unfathomable.

Persons: Shawn Copeland, Ham, Noah, Ham’s, Canaan —, Copeland, ” Organizations: ” Locations: ”, Utah, America

☆ Where are they now: The many fascinating Bridgewater employees from the book on Ray Dalio 'The Fund'
▼ + stars: | 2023-11-16 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +17 min

The new book, "The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend" — which Dalio and his lawyers have pushed back against — describes everything from Bridgewater's investment process to internal grudges and backstabbing to allegations of sexual harassment. Here are the places where the dozens of Bridgewater employees and consultants named in the book ended up. Dalio, the book said, wrote into the firm's bylaws that he could never hold that title again. Before that, she was the head of investment research and a co-chief investment officer for sustainability. He's worked at different funds since leaving in 2006, including Larch Lane Advisors and Bonaccord Capital as an investor and business-development professional.

Persons: Rob Copeland's, Ray Dalio, Dalio, —, Bridgewater, Greg Jensen, YouTube Dalio, nixed, Copeland, He's, Jensen, Eileen Murray, Morgan Stanley, David McCormick, Dina Powell, McCormick, Dave McCormick, Michael M, Nir Bar Dea, Stefanova, Dalio's, Paul McDowell, Bob Eichinger, McDowell, Eichinger, Jen Healy, Osman Nalbantoglu, Matthew Granade, Steve Cohen, Steve Cohen's Point72, Bob Prince, politicking, Karen Karniol, Bridgewater Associates Karen Karniol, Vladimir Putin, Bob Elliott, Elliott, James Comey, Winn McNamee, Barack Obama, Donald Trump, Hillary, Britt Harris, Bridgewater's, Julian Mack, L, Michael Partington, Spencer Stuart, Niko Canner, Jon Rubinstein, Beck Diefenbach Jon Rubinstein, Steve Jobs, Tom Adams, Rosetta Stone, J, Michael Cline, Cline, Kevin Campbell, Campbell, Craig Mundie, Bill Gates, Gates, Mundie, Bill Clinton, George W, Bush, David Ferrucci, IBM's Watson, Ferrucci, Keith Alexander, Alexander, Larry Culp, Culp, Jamie Gorelick, conscientiously, Clinton, Jared Kushner, Jesse Horwitz, Comey, Horwitz, Samantha Holland, Perry Poulos, Murray, Joe Sweet, Tara Arnold, Arnold —, Leah Guggenheimer, She's, Charles Korchinski, Harris, Kent Kuran Organizations: New York Times, Bridgewater Associates, Business, Bridgewater, YouTube, HSBC, Broadridge, Life Insurance, Wells, Treasury Department, Republican, Getty, GOP, Israel Defense Forces, Marto, Princeton University, McKinsey, Point72, Bridgewater didn't, Domino Data, CircleUp, FBI, Trump, of, University of Texas Investment Management Co, Apple, Dalio, Health, Cognition, Mundie, National Security Agency, Amazon, General Electric, Boston Globe, Electric, Trump White House, Harvard Law School, —, Hubble, Stefanova's Marto, HBR Consulting, MIO Partners, Burford, Larch Lane Advisors, Bonaccord, Eaton Partners, Stanford, NextEra Energy Resources Locations: Bridgewater, Connecticut, Pennsylvania, China, San Francisco, of Texas, Atlanta, WilmerHale, Asia, India, Shanghai, Singapore, Israel, Africa

☆ Tiffany Haddish, Misty Copeland and Martha Stewart Party in New York City
▼ + stars: | 2023-11-16 | by ( Melissa Guerrero | More About Melissa Guerrero | ) www.nytimes.com time to read: +1 min

On Monday night, about 500 people gathered in the Hudson Yards neighborhood of Manhattan for the fourth-annual gala for the Shed, the $475 million arts center that opened in 2019. It has since hosted a concert series by the director Steve McQueen and Quincy Jones and is currently staging Stephen Sondheim’s final musical, “Here We Are.”For the gala, the Shed’s colossal main hall was transformed into a carpeted room with tables spread among low, blobby couches. “I feel like I’m in NASA,” one guest said, adding that the venue felt big enough to accommodate a rocket launch. The evening honored M&T Bank, which has partnered with the center since it began, and the Santo Domingo family, who are longtime supporters. The crowd included the ballerina Misty Copeland, who is also a board member; the designer Wes Gordon; and the hip-hop duo the Dragon Sisters, who are part of the Shed’s Open Call program, which commissions projects from emerging artists in New York.

Persons: Steve McQueen, Quincy Jones, Stephen Sondheim’s, ”, Santo Domingo, Misty Copeland, Wes Gordon Organizations: Hudson Yards, NASA, T Bank, Santo Locations: Hudson, Manhattan, New York

New details unearthed in snippets of recorded interviews with four of Donald Trump’s co-defendants who pleaded guilty in the Georgia election interference case spell trouble for the former president and others indicted in the sprawling racketeering scheme. The confidential taped proffers with Fulton County prosecutors were leaked on Monday to ABC News and The Washington Post. “Whether you're talking about racketeering or you're talking about a drug conspiracy, the same principles always apply,” Copeland says. A lot of times the state looks bottom up – the smaller fish will talk about the bigger fish. “In this particular case, it really is an interesting assortment of folks who have come forward, especially from the attorneys' part,” she adds.

Persons: Donald Trump’s, Jenna Ellis, Sidney Powell, Kenneth Chesebro, Scott Hall, Fani Willis, ”, Amy Lee Copeland, Trump, Rudy Giuliani, Powell, Chesebro, Joe Biden, Ellis, Dan Scavino, we’re, ’ ” Ellis, “ Ms, that’s, ” Copeland, Ellis ’, ’, Willis, We've, it's, Bob Chealy, “, codefendants, ” Willis Organizations: ABC News, The Washington Post, Trump, White Locations: Georgia, Fulton, Savannah, Arizona, Powell , Georgia, Coffee County

There had been plenty during his seven years in office: a deadly, devastating tornado; the coronavirus pandemic; neglected roads that the city could not afford to fix. But Smiths Station pulled through. Mr. Copeland had devised a plan to pay for repaving roads. Many in the city would have welcomed it. Then, on Nov. 3, sheriff’s deputies, who had been called by worried friends of Mr. Copeland to check on him, trailed him until he pulled over miles from Smiths Station and fatally shot himself.

Persons: F.L, Copeland Jr, Bubba, Copeland, Copeland’s Organizations: Smiths, Sims, Smiths Station Locations: Ala, Alabama

☆ Higher Contribution Limits Are Coming for 401(k) Retirement Plans
▼ + stars: | 2023-11-10 | by ( Ann Carrns | ) www.nytimes.com time to read: +2 min

Even if you can contribute the maximum amount, that doesn’t necessarily mean you should, Mr. McBrien said. You may have other goals to save for besides retirement, said Craig Copeland, director of wealth benefits research at the Employee Benefit Research Institute. Under the Secure 2.0 Act, a law passed late last year, savers earning $145,000 or more who make 401(k) catch-up contributions would have had to make them as pretax Roth contributions starting in 2024. Can I change the amount of my 401(k) contributions after open enrollment? But while health insurance choices are typically fixed for the full year unless you have a big change in your life, many employers let you tweak your retirement contributions at any time.

Persons: don’t, Kyle McBrien, McBrien, ”, Craig Copeland, “, Roth, pretax Roth Organizations: Research

☆ Bridgewater rigged its famous 'believability weighting' system after founder Ray Dalio complained that some employees scored higher than him, book says
▼ + stars: | 2023-11-09 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +5 min

Bridgewater rigged its "believability weighting" system to keep founder Ray Dalio on top, a new book says. That's according to "The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend," out Tuesday from New York Times finance reporter Rob Copeland. Bridgewater's believability weighting system, in theory, was supposed to help determine how much weight a person's opinion carried and to help identify hidden talent within the firm. Bridgewater started experimenting with Dalio's believability weighting system with a prototype allowing staff to see each others' scores on a scale of 1-to-10, but Dalio wasn't pleased, the book said. In response to a request for comment from Insider on the book's assertions regarding the believability rating system, Bridgewater provided excerpts of letters that its lawyers sent to the book's publisher, St. Martin's Press.

Persons: Bridgewater, Ray Dalio, outranked, Dalio, —, Rob Copeland, Dalio wasn't, He'd, Copeland Organizations: Service, Bridgewater Associates, New York Times, —, Bridgewater, New, Martin's Press Locations: Bridgewater

☆ Bridgewater's employee-rating system tracked even the lowest-paid workers — who could get dinged if the office ran out of soda, a book says
▼ + stars: | 2023-11-08 | by ( Jordan Hart | Sarah Jackson | ) www.businessinsider.com time to read: +4 min

Bridgewater employees have famously rated one another's performance in real-time. Ray Dalio even fired an employee based on his peers' answers to a poll about him, "The Fund" says. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Information was compiled into individual employee profiles, which were known as baseball cards around the office, the book said.

Persons: Ray Dalio, —, Ray, Rob Copeland's, Copeland, Dalio, Michael Partington, Partington, Bridgewater Organizations: Bridgewater, Service, Bridgewater Associates, Workers Locations: Ray Dalio's, Bridgewater

☆ A Bridgewater-owned mansion had a written policy for hiring strippers, a new book says
▼ + stars: | 2023-11-08 | by ( Jordan Hart | Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Bridgewater employees hired strippers so often that the firm adopted rules around them, a new book said. The book also said Bridgewater spent millions renovating a mansion frequented by founder Ray Dalio. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "Stripper Policy at The Lookout," the rules read, according to the book. Guests could stay overnight at the Lookout, but the primary bedroom was almost always reserved for Dalio, according to the book.

Persons: Ray Dalio, —, Rob Copeland's, Dalio, didn't Organizations: Bridgewater, Service, Bridgewater Associates, The New York Times, LinkedIn Locations: Connecticut, Bridgewater

☆ Bridgewater spent $1 million renovating a 45-foot 'Rockstar Bus' to shuttle employees between the office, bars, and casinos, book says
▼ + stars: | 2023-11-08 | by ( Pete Syme | Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Ray Dalio's Bridgewater spent nearly $1 million turning a coach bus into an employee limo, a new book says. In a statement, Bridgewater said the book's claims about the bus were "untrue or misleading." AdvertisementAdvertisementBridgewater Associates spent $1 million turning a coach bus into a limousine to shuttle employees around to after-work entertainment, according to a new book about Ray Dalio and his hedge fund. AdvertisementAdvertisementThe bus, internally called the "Rockstar Bus," transported employees from Bridgewater's Connecticut headquarters to bars, restaurants, and casinos, according to Copeland's book. AdvertisementAdvertisement"Four of the buses are standard coach commuter buses, and one of the buses was upfitted as a limousine bus.

Persons: Ray Dalio's Bridgewater, Rob Copeland's, Bridgewater, —, Ray Dalio, Rob Copeland, Bridgewater's, Dalio Organizations: Bridgewater, Service, Bridgewater Associates, New York Times, Martin's Press Locations: Bridgewater, Bridgewater's Connecticut, Bridgewater's, New York City, Bridgewater's Westport

☆ An agitated Ray Dalio once ordered an extensive study of urine on the men's room floor at Bridgewater, new book says
▼ + stars: | 2023-11-07 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Ray Dalio once ordered a probe into urine on the men's room floor, a new book says. Bridgewater said Dalio did complain about restroom tidiness, but the book passage is "exaggerated" and "false." In "The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend," Copeland wrote that Dalio once excused himself from a meeting to use the restroom and he found pee on the floor. "It was a true circus," Copeland wrote in the book. Bridgewater even brought in new urinals and added stickers as targets, the book said, and later reviewed their exact placement.

Persons: Ray Dalio, Dalio, Bridgewater, —, Rob Copeland, Copeland Organizations: Service, New York Times, Bridgewater Associates, LinkedIn, Bridgewater Locations: Bridgewater

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