Saturday, October 2, 2010

Who's Making Money


Bob Harras worked for Jim Lee after leaving Marvel (never doing the contributing work that was promised to the press) from New Jersey before working as group editor for DC Comics collected editions and editor of DC’s new Who’s Who series.


Some see his rapid promotion to Editor-In-Chief as a poisoned chalice now. That DC Entertainment is in serious, uncertain flux. So why not have a safe hand on the tiller who isn’t going to crack under any and all pressure. He’s been an editor-in-chief with a variety of bosses either punching and pushing for more and more profits to pay of debt brought on buy buying the company while making incredibly offensive personal remarks to him. Compared to that, DC is a breeze. Put it this way, members of senior DC management will never tell him that he should kill family members who turned out to be gay.


But is that an underestimation of Bob’s abilities? Remember much of the negativity aimed his way by fans over the likes of Spider-Clones, Onslaughts, Heroes Reborn and Hulk reboots was as a direct result of demand from Marvel executives on high that would eventually bring much of the market to its knees and push Marvel into bankruptcy.


But Bob’s time as an X-title editor saw him recruit Marc Silvestri from King Conan to Uncanny X-Men. He recruited Jim Lee from Punisher War Journal to Uncanny X-Men then X-Men. He recruited Rob Liefeld from Hawk And Dove to New Mutants, then X-Force. He recruited Whilce Portacio from Strikeforce Morituri to Uncanny X-Men. He turned a line of comics that sold a hundred thousand per issue into one that sold millions an issue. And then found a way to transfer that to much of the rest of the line as well. He made more money for Marvel Comics through the sales of their comics than any other editor at the company .


Then when the company as a whole headed into bankruptcy, he did as much as he could, as editor-in-chief to keep the company afloat and return record amounts from the the publishing company, even as the bosses sank it further and further into debt. This eventually cannibalised the readers, destroyed the speculation and colllectable market and diluted the franchises.


He was mocked by Joe Quesada for recommending the likes of Howard Mackie of Scott Lobdell to write Ultimate Spider-Man for Bill Jemas, only for Joe Quesada to suggest Brian Bendis – a move that may have made Quesada’s career. But at the time Bendis was the risky choice, Mackie the safe one.


Right now, with the poor morale and institutionalised fear at the company, a safe pair of hands is what’s needed. Harras should fit right in – what is Final Crisis and Blackest Night but Onslaught and Spider Clones all over again?


And I wouldn’t be surprised if that safe pair of hands finds some gold in them there hills in the form of the next Jim Lee. the next Whilce Portacio, the next Rob Liefeld. Or possibly all the old ones.


I have learned of a number of DC freelancers who have approached Marvel, believing that Bob Harass disliked either their work or, well, them. And while DC editors Eddie Berganza and Ian Sattler may be unsure of their new boss (especially since it seems they believed they were in the running for his position), Michael Marts and Matt Idelson are especially pleased, they have stayed on good terms with Bob since they left Marvel.


And of course, Bob is now editor-in-chief of Vertigo, a new twist. Now, it was his predecessor Tom DeFalco who is attributed to have said that Sleepwalker was Sandman done right, but there does seem to be a clash if sensibilities here… and a further eroding of the autonomy of Vertigo and dilution of Karen Berger’s influence within the company.


But I tell you what. It must be a good time to be be Fabian Niceza. And Scott Lobdell. And, say, what is Howard Mackie up to these days?



One of the great things about flying first class is that you often get to meet some interesting people. During the early eighties, I found myself on a flight from Los Angles to New York sitting next to an unknown, aspiring, young director named Oliver Stone, who was on his way to pitch a new film idea to potential investors.

Over six hours I enjoyed one of the most interesting conversations of my career, covering jungle combat in Vietnam, the ins and outs of movie making, and the harsh realities of Hollywood style accounting. The movie he was pitching turned out to be the 1987 industry cult classic, Wall Street.

The film sparked one of the greatest guessing games of all time, with everyone attempting to identify the real people behind the fictional characters. The villain, Gordon Gekko, was easy. That was Ivan Boesky, a risk arbitrageur who became the target of one of the first high profile insider trading case. Other links with reality were more obscure, and many real life traders on the floor of the NYSE simply played themselves as extras.

In the sequel, it is much easier to play who’s who, thanks to the financial crash that seems like was happening only yesterday. Gordon Gekko, released from federal prison, this time turns into legendary hedge fund manager John Paulson, whose character turns $100 million into $1.2 billion in a matter of months through buying up cheap credit default swaps on subprime debt. Hank Paulson and Tim Geithner are easy to pick out in a crucial meeting at the New York Fed. The chairman of “Keller Zabel” (Bear Stearns), one “Louis Zabel” (Ace Greenberg), throws himself in front of a train on the Lexington line. Well, this is fiction, after all. The $2 dollar/share sale price gave it all away.

Many people played themselves. The whole CNBC crowd was there, their descriptions of the crash so realistic that I thought it might be archival footage. So were Warren Buffet, Nouriel Roubini, Jim Chanos, and other notables. In fact, Chanos managed to get Stone to change the original script, switching the bad guy role from a hedge fund to Goldman Sachs (GS), known as “Churchill Schwartz,” as it should be. They are easily identified as the Wall Street firm that took out a big short in housing debt just before the crash.

Shia Labeouf does an outstanding job playing Jake Moore, an aggressive, razor sharp, earnest young investment banker. I have known so many like him over the years, both working for me and at competitors, that his performance really rung true. Michael Douglas, who has aged dramatically, seemed to be simply replaying the same role that he has in countless earlier films. To understand their characters, several actors opened up online trading accounts and did quite well in the market, with Shia alone reportedly booking some $20,000 in profits.

There are a few minor flaws in the film. It could have used more editing. There is a mention of “50% leverage” of subprime debt, when the correct figure was 50 times. The Chinese government investor doesn’t act like a real person from the People’s Republic, but as an American with a bad accent. No one has yet figures out the true meaning of Eli Wallach’s repeated bird calls.

In this incredibly target rich environment, Stone seems to take aim at so many enemies, That even an insider myself got confused. However, these are trivial complaints. If you want to have a hoot, go see the film, but expect to provide a simultaneous translation about all of the different instruments and strategies if you bring any non financial types with you.

Not wanting to spoil the ending, I’ll say no more, except that you can buy the original wall Street movie from Amazon by clicking here at http://www.amazon.com/Wall-Street-Charlie-Sheen/dp/B00003CXDB/ref=sr_1_2?s=dvd&ie=UTF8&qid=1285432060&sr=1-2

And thanks to Oliver’s advice, I never got involved in financially backing a film project, despite countless invitations to do. It was the best trade I never did.

To see the data, charts, and graphs that support this research piece, as well as more iconoclastic and out-of-consensus analysis, please visit me at www.madhedgefundtrader.com . There, you will find the conventional wisdom mercilessly flailed and tortured daily, and my last two years of research reports available for free. You can also listen to me on Hedge Fund Radio by clicking on “This Week on Hedge Fund Radio” in the upper right corner of my home page.


Small Business <b>News</b>: The White Paper Overview

Pundits still say they are a great way to develop credibility for your business easy to distribute in their popular current PDF format and also, if done right,

Catherine Herridge - Fox <b>News</b> | Gender Discrimination | Age | Mediaite

The US Equal Employment Opportunity Commission filed a complaint yesterday against Fox News for a gender and age discrimination case dating back to 2007. The FNC correspondent, Catherine Herridge, is still an employee with the company, ...

ScribbleLive plans to reinvent the <b>news</b> article | VentureBeat

Anthony is VentureBeat's assistant editor, as well as its reporter on media, advertising, and social networks. Before joining VentureBeat in ...


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2009 Houston Texans Training Camp by kahl4


Small Business <b>News</b>: The White Paper Overview

Pundits still say they are a great way to develop credibility for your business easy to distribute in their popular current PDF format and also, if done right,

Catherine Herridge - Fox <b>News</b> | Gender Discrimination | Age | Mediaite

The US Equal Employment Opportunity Commission filed a complaint yesterday against Fox News for a gender and age discrimination case dating back to 2007. The FNC correspondent, Catherine Herridge, is still an employee with the company, ...

ScribbleLive plans to reinvent the <b>news</b> article | VentureBeat

Anthony is VentureBeat's assistant editor, as well as its reporter on media, advertising, and social networks. Before joining VentureBeat in ...


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Bob Harras worked for Jim Lee after leaving Marvel (never doing the contributing work that was promised to the press) from New Jersey before working as group editor for DC Comics collected editions and editor of DC’s new Who’s Who series.


Some see his rapid promotion to Editor-In-Chief as a poisoned chalice now. That DC Entertainment is in serious, uncertain flux. So why not have a safe hand on the tiller who isn’t going to crack under any and all pressure. He’s been an editor-in-chief with a variety of bosses either punching and pushing for more and more profits to pay of debt brought on buy buying the company while making incredibly offensive personal remarks to him. Compared to that, DC is a breeze. Put it this way, members of senior DC management will never tell him that he should kill family members who turned out to be gay.


But is that an underestimation of Bob’s abilities? Remember much of the negativity aimed his way by fans over the likes of Spider-Clones, Onslaughts, Heroes Reborn and Hulk reboots was as a direct result of demand from Marvel executives on high that would eventually bring much of the market to its knees and push Marvel into bankruptcy.


But Bob’s time as an X-title editor saw him recruit Marc Silvestri from King Conan to Uncanny X-Men. He recruited Jim Lee from Punisher War Journal to Uncanny X-Men then X-Men. He recruited Rob Liefeld from Hawk And Dove to New Mutants, then X-Force. He recruited Whilce Portacio from Strikeforce Morituri to Uncanny X-Men. He turned a line of comics that sold a hundred thousand per issue into one that sold millions an issue. And then found a way to transfer that to much of the rest of the line as well. He made more money for Marvel Comics through the sales of their comics than any other editor at the company .


Then when the company as a whole headed into bankruptcy, he did as much as he could, as editor-in-chief to keep the company afloat and return record amounts from the the publishing company, even as the bosses sank it further and further into debt. This eventually cannibalised the readers, destroyed the speculation and colllectable market and diluted the franchises.


He was mocked by Joe Quesada for recommending the likes of Howard Mackie of Scott Lobdell to write Ultimate Spider-Man for Bill Jemas, only for Joe Quesada to suggest Brian Bendis – a move that may have made Quesada’s career. But at the time Bendis was the risky choice, Mackie the safe one.


Right now, with the poor morale and institutionalised fear at the company, a safe pair of hands is what’s needed. Harras should fit right in – what is Final Crisis and Blackest Night but Onslaught and Spider Clones all over again?


And I wouldn’t be surprised if that safe pair of hands finds some gold in them there hills in the form of the next Jim Lee. the next Whilce Portacio, the next Rob Liefeld. Or possibly all the old ones.


I have learned of a number of DC freelancers who have approached Marvel, believing that Bob Harass disliked either their work or, well, them. And while DC editors Eddie Berganza and Ian Sattler may be unsure of their new boss (especially since it seems they believed they were in the running for his position), Michael Marts and Matt Idelson are especially pleased, they have stayed on good terms with Bob since they left Marvel.


And of course, Bob is now editor-in-chief of Vertigo, a new twist. Now, it was his predecessor Tom DeFalco who is attributed to have said that Sleepwalker was Sandman done right, but there does seem to be a clash if sensibilities here… and a further eroding of the autonomy of Vertigo and dilution of Karen Berger’s influence within the company.


But I tell you what. It must be a good time to be be Fabian Niceza. And Scott Lobdell. And, say, what is Howard Mackie up to these days?



One of the great things about flying first class is that you often get to meet some interesting people. During the early eighties, I found myself on a flight from Los Angles to New York sitting next to an unknown, aspiring, young director named Oliver Stone, who was on his way to pitch a new film idea to potential investors.

Over six hours I enjoyed one of the most interesting conversations of my career, covering jungle combat in Vietnam, the ins and outs of movie making, and the harsh realities of Hollywood style accounting. The movie he was pitching turned out to be the 1987 industry cult classic, Wall Street.

The film sparked one of the greatest guessing games of all time, with everyone attempting to identify the real people behind the fictional characters. The villain, Gordon Gekko, was easy. That was Ivan Boesky, a risk arbitrageur who became the target of one of the first high profile insider trading case. Other links with reality were more obscure, and many real life traders on the floor of the NYSE simply played themselves as extras.

In the sequel, it is much easier to play who’s who, thanks to the financial crash that seems like was happening only yesterday. Gordon Gekko, released from federal prison, this time turns into legendary hedge fund manager John Paulson, whose character turns $100 million into $1.2 billion in a matter of months through buying up cheap credit default swaps on subprime debt. Hank Paulson and Tim Geithner are easy to pick out in a crucial meeting at the New York Fed. The chairman of “Keller Zabel” (Bear Stearns), one “Louis Zabel” (Ace Greenberg), throws himself in front of a train on the Lexington line. Well, this is fiction, after all. The $2 dollar/share sale price gave it all away.

Many people played themselves. The whole CNBC crowd was there, their descriptions of the crash so realistic that I thought it might be archival footage. So were Warren Buffet, Nouriel Roubini, Jim Chanos, and other notables. In fact, Chanos managed to get Stone to change the original script, switching the bad guy role from a hedge fund to Goldman Sachs (GS), known as “Churchill Schwartz,” as it should be. They are easily identified as the Wall Street firm that took out a big short in housing debt just before the crash.

Shia Labeouf does an outstanding job playing Jake Moore, an aggressive, razor sharp, earnest young investment banker. I have known so many like him over the years, both working for me and at competitors, that his performance really rung true. Michael Douglas, who has aged dramatically, seemed to be simply replaying the same role that he has in countless earlier films. To understand their characters, several actors opened up online trading accounts and did quite well in the market, with Shia alone reportedly booking some $20,000 in profits.

There are a few minor flaws in the film. It could have used more editing. There is a mention of “50% leverage” of subprime debt, when the correct figure was 50 times. The Chinese government investor doesn’t act like a real person from the People’s Republic, but as an American with a bad accent. No one has yet figures out the true meaning of Eli Wallach’s repeated bird calls.

In this incredibly target rich environment, Stone seems to take aim at so many enemies, That even an insider myself got confused. However, these are trivial complaints. If you want to have a hoot, go see the film, but expect to provide a simultaneous translation about all of the different instruments and strategies if you bring any non financial types with you.

Not wanting to spoil the ending, I’ll say no more, except that you can buy the original wall Street movie from Amazon by clicking here at http://www.amazon.com/Wall-Street-Charlie-Sheen/dp/B00003CXDB/ref=sr_1_2?s=dvd&ie=UTF8&qid=1285432060&sr=1-2

And thanks to Oliver’s advice, I never got involved in financially backing a film project, despite countless invitations to do. It was the best trade I never did.

To see the data, charts, and graphs that support this research piece, as well as more iconoclastic and out-of-consensus analysis, please visit me at www.madhedgefundtrader.com . There, you will find the conventional wisdom mercilessly flailed and tortured daily, and my last two years of research reports available for free. You can also listen to me on Hedge Fund Radio by clicking on “This Week on Hedge Fund Radio” in the upper right corner of my home page.


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Small Business <b>News</b>: The White Paper Overview

Pundits still say they are a great way to develop credibility for your business easy to distribute in their popular current PDF format and also, if done right,

Catherine Herridge - Fox <b>News</b> | Gender Discrimination | Age | Mediaite

The US Equal Employment Opportunity Commission filed a complaint yesterday against Fox News for a gender and age discrimination case dating back to 2007. The FNC correspondent, Catherine Herridge, is still an employee with the company, ...

ScribbleLive plans to reinvent the <b>news</b> article | VentureBeat

Anthony is VentureBeat's assistant editor, as well as its reporter on media, advertising, and social networks. Before joining VentureBeat in ...


bench craft company rip off bench craft company rip off

Small Business <b>News</b>: The White Paper Overview

Pundits still say they are a great way to develop credibility for your business easy to distribute in their popular current PDF format and also, if done right,

Catherine Herridge - Fox <b>News</b> | Gender Discrimination | Age | Mediaite

The US Equal Employment Opportunity Commission filed a complaint yesterday against Fox News for a gender and age discrimination case dating back to 2007. The FNC correspondent, Catherine Herridge, is still an employee with the company, ...

ScribbleLive plans to reinvent the <b>news</b> article | VentureBeat

Anthony is VentureBeat's assistant editor, as well as its reporter on media, advertising, and social networks. Before joining VentureBeat in ...


bench craft company rip off bench craft company rip off

Small Business <b>News</b>: The White Paper Overview

Pundits still say they are a great way to develop credibility for your business easy to distribute in their popular current PDF format and also, if done right,

Catherine Herridge - Fox <b>News</b> | Gender Discrimination | Age | Mediaite

The US Equal Employment Opportunity Commission filed a complaint yesterday against Fox News for a gender and age discrimination case dating back to 2007. The FNC correspondent, Catherine Herridge, is still an employee with the company, ...

ScribbleLive plans to reinvent the <b>news</b> article | VentureBeat

Anthony is VentureBeat's assistant editor, as well as its reporter on media, advertising, and social networks. Before joining VentureBeat in ...


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