Occupy Wall Street: a Frenzy That Fizzled

The following is an excerpt from an article in:


The New York Times
Tuesday, September 18, 2012

Occupy Wall Street: a Frenzy That Fizzled

By ANDREW ROSS SORKIN

It will be an asterisk in the history books, if it gets a mention at all.

A year ago this week, the Occupy Wall Street movement got under way in Zuccotti Park in Lower Manhattan. The loose group of protesters, frustrated by the economic downturn, sought to blame Wall Street and corporate America for many of the nation's ills.

While the movement's first days did not receive much news coverage, it soon turned into a media frenzy, with some columnists comparing its importance to that of the Arab Spring, which led to the overthrow of leaders in several Middle Eastern and African countries, spurred by social media. Images of the Wall Street protesters getting arrested were looped on news channels and featured on the covers of newspapers. Big banks - and the famous Charging Bull statue that is an icon of Wall Street - were fortified with barricades. By the end of the year, Time magazine had named the protester its Person of the Year, perhaps rightly given the revolutions taking place around the world, but the magazine also lumped Occupy Wall Street in among the many meaningful movements taking place.

But now, 12 months later, it can and should be said that Occupy Wall Street was - perhaps this is going to sound indelicate - a fad.

For more, visit www.nytimes.com.

For Deal Makers, Incubator Offers an Alternative to Wall St.

The following is an excerpt from an article in 

The New York Times
Tuesday, August 14, 2012

For Deal Makers, Incubator Offers an Alternative to Wall St.

By ADRIANA GARDELLA

Incubators have long existed for technology start-ups. But the needs of investment bankers are not quite the same as those of tech entrepreneurs who started a business in a garage and spent all night programming code.

Jolyne Caruso, experienced on Wall Street, took a page from the tech playbook to help seasoned financiers run their own firms. In 2010, she created the Alberleen Group, an incubator for investment bankers who have experience in their sectors and entrepreneurial attitudes but lack capital, investor contacts or support in areas like regulatory compliance.

As the economy remains lackluster and Wall Street keeps shedding jobs, Ms. Caruso is offering an alternative to the large firms and the more prominent boutique investment banks.

Just as Wall Street has learned from the tech industry to be more nimble, the Alberleen Group's team members say they set themselves apart from other banks by providing more creative, customized services. In addition, the incubator has been able to attract clients who are often disenchanted with the higher fees, diminished service and potential for conflicts of interest at the big banks, she said.

"The big investment banks continue to be tough places to work - between regulations, the lack of capital to fund deals and the broken compensation model," Ms. Caruso said, adding that the "misery factor" remains high even four years after the financial crisis.

Though some Wall Street bankers have started boutique investment banks, not everyone has the investment capital or backing to do so. But because of the support of the Alberleen Group, which is affiliated with a registered broker-dealer, its banking teams can offer clients the gamut of investment banking services including bond financing, and advice on mergers and acquisitions or initial public offerings.

Ms. Caruso's connections, cultivated during 30 years on Wall Street, provide an entree for the bankers, who focus on energy, real estate and middle-market deals. The Alberleen Group's advisory board members, who include E. Stanley O'Neal, the former chief executive of Merrill Lynch, are all investors in the company, giving them a stake in the success of its banking teams.

For more, visit www.nytimes.com.

Wall Street Brain Drain

CNBC's Jane Wells reports on who the next generation of capitalists look up to now.  Click the link for video.

http://video.cnbc.com/gallery/?video=3000073245

Wall Street vs. Silicon Valley Talent Hunt

CNBC reports that thanks to a new crop of overnight billionaires in tech, keeping Wall Street's top talent has become more difficult.  Click the link below for video.

http://video.cnbc.com/gallery/?video=3000073215