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Month: June 2021

Business 0

Why AMC May Be Even Hotter Than You Think

It’s no secret that AMC is going vertical lately: But this and other meme stocks may be even hotter than they appear based on prices in public markets like the New York Stock Exchange. The reason is a quirk in how retail orders are handled: The prices of so-called meme stocks may be distorted because the majority of trades in […]

Business 0

Hedge Funds Burn $6 Billion In a Month Shorting AMC (and Others)

Several hedge funds that lost a fortune shorting GameStop in January have sustained further losses betting against meme stocks like AMC: Melvin Capital and Light Street Capital, two US hedge funds hard hit by the January rally in stocks popular with retail investors, suffered further losses in May. Hedge fund losses from betting against five popular meme stocks — GameStop, […]

NYC Area 0

Hoboken’s Most Powerful Gangster

Inside a low-slung building surrounded by trees in southern Minnesota, there is an old man. Now ailing and in his 90’s, he was once one of the most powerful members of the American mafia. This building is Federal Medical Center Rochester. This man is Louis “Bobby” Manna. Manna was born in Hoboken in 1929 and, by the 80’s, he had […]

Business 0

AMC Shorts Lose $500 Million in 1 Day

Despite losses of over $1 billion last month, short sellers remain attracted to AMC like moths to a flame: Investors shorting “meme stock” AMC Entertainment Holdings (AMC.N) are estimated to have lost about $512 million on Monday after a rally that sent the cinema operator’s shares up more than 15%, data from financial analytics firm Ortex showed. They are up […]

Business 0

Hedge Fund Torched By AMC

On glamorous Madison Avenue in midtown Manhattan, as most people were heading home for the day, the top executives of a powerful hedge fund filed into a conference room. The fate of this multibillion dollar institution could be at stake. This is Mudrick Capital Mangement, L.P. With offices in New York City and London, it manages approximately $3.8 billion. Or […]

NYC Area 0

Meet New Jersey’s Biggest Polluter

Along the New Jersey Turnpike, it comes into view: a massive complex of tanks, smokestacks, and tangled pipes. This is New Jersey’s biggest polluter: the Phillips 66 Bayway Refinery. The Phillips refinery releases far more toxic chemicals than anywhere else in the state, and more than twice as many as the runner-up (another refinery). Some of these chemicals may cause […]

Entertainment 0

The Church Tony Soprano’s Grandfather Built

“See that church? Your great grandfather helped build that almost 80 years ago. He was a stonemason, the old man. Came over from Avellino with four dollars in his pocket.” Tony Soprano The camera pans down to show a beautiful church made of grey stone. Alongside it: a red Tahoe. A father wants to show his teenage son the family’s […]

NYC Area 0

The Mafia’s Hoboken Fortress

On a narrow street at the edge of town sits a squat brick building. There are no windows. On the street, lookouts watch for unfamiliar faces. The few who do enter are carefully watched. Inside: the headquarters of the most powerful mafia family in this country. This is Casella’s Restaurant in Hoboken, NJ. In the 1980’s, it functioned as home […]

Business 0

AMC Share Sales: A Wise Move for the Company’s Future

March 25, 2020: COVID is sweeping the globe, causing shutdowns worldwide. One casualty: all 1,000 theaters of 100 year old AMC Entertainment Holdings, Inc. Like many businesses, its ability to remain solvent was in serious doubt. Under these cirumstances, a lot of CEOs arrange a golden parachute for themselves and a few golf buddies in the C-suite and throw the […]

Business 0

Wendy’s: a Deliciously Different Meme Stock

Shares of Wendy’s exploded today as Reddit’s merry band of traders piled in: Beloved burger and Frosty chain Wendy’s (WEN) has won the honor of being the first fast-food stock to get roped into the red-hot meme stock trade. Shares of Wendy’s spiked 16% in early afternoon trading on Tuesday after a favorable mention by traders on Reddit. Shares closed […]

Entertainment 0

Where Christopher Moltisanti Almost Died

How could this happen? How could this happen? Tony Soprano As Christopher Moltisanti walks out of a diner beneath the Pulaski Skyway, he happens across two of his partners in crime: Matthew Bevilacqua and Sean Gismonte. What’s brought them to this same desolate spot? Suddenly, Sean leans out the window. In his hand: a pistol. Before Chris can react, Sean […]

NYC Area 0

A Notorious Mob Informant’s Hoboken Headquarters

A slight, bespectacled man with white hair sits behind a table, going over today’s bets. At his side: a beeper. You might not even notice it. Inside the beeper is a tiny microphone. This unassuming bookie in a nondescript storefront is about to take down the most powerful organized crime family in this country. Peter “Petey” Caporino, a Hoboken native, […]

Business 0

Why Austin is #1 in Attracting Tech Workers

Austin, already a significant tech center, is the biggest beneficiary of tech workers being able to live anywhere and work remotely: Austin is the top beneficiary of tech-related migration in the past 12 months, according to data from Microsoft Corp.’s LinkedIn profiles. Nashville and Charlotte also saw noteworthy migration rates. Why is Austin #1? Tech workers are finally able to […]

Entertainment 0

The Real Barone Sanitation from The Sopranos

A German Shepherd barks viciously and strains at his chain. A red Tahoe pulls up to a a large industrial building. The sky is grey. A hulking man steps out. This is Barone Sanitation, which featured prominently in The Sopranos as a front for Tony’s illicit interests. In one my favorite episodes from season 2, facing increasing police scrutiny, Tony […]