Tag Archive > Goldman Sachs

Victor Ortiz VS Floyd Mayweather Highlights, Jim Rogers, Marc Faber, Goldman Sachs, Limelight and Chris Paciello

» 27 September 2011 » In Guide » 1 Comment

Victor Ortiz VS Floyd Mayweather Highlights, Jim Rogers, Marc Faber, Goldman Sachs, Limelight and Chris Paciello

That really was a nice Knockout.

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In financial news:

Marc Faber: “Gold Is Quite Oversold. I Will Consider Buying Gold Over The Next Two Days”

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Jim Rogers Is Bullish On All Commodities, But There’s Only One Sector He Would Buy Right NowBBC Speechless As Trader Tells Truth: “The Collapse Is Coming…And Goldman Rules The World”

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In Clubland news:

Ingrid Casares & Chris Paciello Back in Biz with The Light Group at the Delano?

If you believe the rumors, South Beach is about to go retro, back to the days when people actually danced at clubs, when real celebrities came to party because they wanted to and not for a carefully orchestrated, trite tabloid photo op, and when the words South Beach and hip together in the same sentence was anything but oxymoronic. That’s right, we have excellent sources telling us that the Captain and Tennille of 90s Miami nightlife, Chris Paciello and Ingrid Casares, are teaming up again, this time as partners in the food and beverage operations at the Delano left recently vacant by Jeffrey Chodorow, who was bought out by the hotel’s owners, Morgans Hotel Group, for $20 million.

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Chris Paciello back on South Beach scene at Delano

For the first time since he was released from federal prison five years ago, Miami Beach’s fallen nightscape overlord has returned to where it all started.

Chris Paciello, now 40 and described by some who have run into him as “subdued and humbled,” is settling down at the Delano Hotel.
He’ll be living there for the next few months as he works to give back to the legendary beachside resort its No. 1 ranking among hipsters and celebrities.

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Deja view: Mixed reviews on the return of Chris Paciello

Ever since we broke the news that old school South Beach club guy Chris Paciello was returning to his old stomping grounds and possibly reuniting with his former partner Ingrid Casares in the nightlife biz, the reactions have been as polarizing as the Tea Party vs. the Democrats only, instead of tea, it would be vodka. On one side you have the champions, cheerleaders and aging club kids who can overlook his past and subscribe to the Nostalgia Party (there’s already a Chris Paciello Fan Club and “Chris Paciello, The King Is Back” page on Facebook), while on the other side you have those who say it’s just wrong to glorify the return of someone with a criminal past—we’ll call them the Concerned Party. Both sides will argue back and forth over this until the lights come on in the new Light Group-sanctioned Delano hot spot, so there’s really no end to the debate.

Some say people are jealous or nervous that the reunion of the team some say made South Beach the nightlife capital it once was will ruin their own businesses, and others say that people are downright nervous in general, not for business purposes, but for reasons involving personal safety. It’s no secret Paciello had a violent past, for which he has served time in prison. It’s no secret that he had enemies, some who still live and work on South Beach. We spoke to nightlife veteran Gerry Kelly, currently serving as marketing and nightlife operator at Trio On the Bay, who worked with Paciello and wasn’t exactly BFF with the guy back in the day. “I was surprised to hear he was returning to Miami,” Kelly admitted. “I do believe we all learn from our experiences in life. Miami’s nightlife and entertainment culture has changed so much since the late 90s that we all have to adapt and change to keep up with the never ending new trends. The city is definitely big enough for everyone and I wish him the best.”

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‘Limelight’: The Rise And Fall Of The Church Of Rave

On Friday, a documentary ostensibly about the rise and fall of a one time club king named Peter Gatien opened in New York (it opens around the country next month). In the early to mid-1990s – the height of rave culture in the U.S. – Gatien owned the biggest clubs in New York City, including Limelight, which lived in a deconsecrated Episcopal Church in the Chelsea neighborhood. Today Gatien lives in Toronto, where he was deported in 2003 after pleading guilty to tax evasion. And Limelight has become a mall. It calls itself a “Festival of Shops.”

Much of the story told in Limelight will be familiar to readers of Clubland, a book chronicling mid-’90s nightlife written by Frank Owen, who covered Limelight at its height and followed its scandalous end in the pages of local alternative weekly the Village Voice. It certainly was to the documentary’s director, Billy Corben, who read the book as he was pursuing another documentary about the man who ran the biggest club in Miami in the mid-’90s. Owen appears frequently as a kind of expert witness in Limelight.

“I had read Clubland because of our interest in Chris Paciello and Liquid in South Beach, and the Miami angle,” says Corben, best known for 2006’s Cocaine Cowboys. Corben and producing partner Albert Spellman still intend to make a movie about Paciello. But first, they’ve made Limelight, which focuses on Gatien, the eye-patched Canadian nightclub impresario who owned Limelight, Palladium, Tunnel and Club U.S.A., who was brought to trial by the City of New York under mayor Rudolph Giuliani’s mid-’90s crime crackdown, alleging that Gatien was overseeing a massive drug ring in his clubs.

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Limelight trailer

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The Rest is Up to You…

Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life

http://www.thegmanifesto.com

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Michael Lewis: Goldman Sachs Rumors

» 28 July 2009 » In money, People » 1 Comment

Michael Lewis: Goldman Sachs Rumors

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Rumor No. 1: “Goldman Sachs controls the U.S. government.”

Every time we hear the phrase “the United States of Goldman Sachs” we shake our heads in wonder. Every ninth-grader knows that the U.S. government consists of three branches. Goldman owns just one of these outright; the second we simply rent, and the third we have no interest in at all. (Note there isn’t a single former Goldman employee on the Supreme Court.)

Rumor No. 2: “When the U.S. government bailed out AIG, and paid off its gambling debts, it saved not AIG but Goldman Sachs.”

The charge isn’t merely insulting but ignorant. Less responsible journalists continue to bring up the $12.9 billion we received from AIG, as if that was some kind of big deal to us. But as our CFO David Viniar explained back in March, we were hedged. Our profits from AIG “rounded to zero.”

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Rumor No. 3: “As the U.S. government will eat the losses if Goldman Sachs goes bust, Goldman Sachs shouldn’t be allowed to keep making these massive financial bets. At the very least the $11.4 billion Goldman Sachs already has set aside for employees in 2009 — $386,429 a head, just for the first six months — is unfair, as the U.S. taxpayer has borne so much of the risk of the wagers that generated the profits.”

Really, we don’t know where to begin with this one. It is wrong-headed in so many different ways!

Let’s begin with the idea that the taxpayer is running a bigger risk than we are. The billions he stands to lose are trivial; after all, they round to zero.

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The Rest is Up to You…

Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com

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