What we’re reading (3/27)
“Betsy Cohen Has Launched Nine SPACs And Is Still Going” (Wall Street Journal). “Celebrity influencers like Serena Williams, Ciara and Chamath Palihapitiya have jumped on the blank-check-company boom. One of the biggest stars in this white-hot corner of Wall Street is a 79-year-old financier who doesn’t tweet or court the Reddit daytrading crowd. What Betsy Cohen does do is deals—lots of them.”
“Wall Street’s Sleepless Nights” (DealBook). “Starting jobs at investment banks are notorious for long hours and a lot of pressure. But junior bankers say the pandemic, booming markets and other factors are making their grueling jobs even more intense. Some are near, or past, breaking point.”
“‘It's Crazy. There Is No Inventory.’ Housing industry veteran marvels at real estate boom” (CNN Business). “For wannabe buyers, the shortage of homes on the market, combined with a surge of competition from other purchasers is setting off bidding wars, all-cash offers and no end of sticker shock. But this one-two punch of very low supply and roaring demand is suiting homebuilders just fine.”
“NASA Wants Companies To Develop And Build New Space Stations, With Up To $400 Million Up For Grabs” (CNBC). “The National Aeronautics and Space Administration last year marked two decades of astronauts continuously onboard the International Space Station. But, as the floating research laboratory ages, the space agency is turning to private companies to build and deploy new free flying habitats in low Earth orbit.”
“When Hedge Fund Billionaire Thomas Sandell Paid $105 Million To Settle A Tax Fraud Case, An Anonymous Tipster Made $22 Million. Here's An Inside Look At The Crazy World Of Whistleblower Lawsuits” (Business Insider). “A whistleblower is someone who shares credible information about financial fraud, criminal activity, unsafe working conditions, or other improper conduct with a government agency. If the information leads to a settlement, whistleblowers earn a percentage of the financial penalties paid by wrongdoers. While the process can take years, tipsters stand to earn millions of dollars for their valuable information.”
