Rumored Allergan break-up more like a broken Snapstreak … remember Snap? Two-unit spinout could fetch $5B to $6B but will take awhile … activist investor David Tepper not known for patience. That said, isn’t the worst—Restasis and Teva—behind AGN?
Enjoy Peter Brennan’s p.1 story on Joe Duran, United Capital boss; Phils’ closer Mitch Williams said he pitched “like my hair’s on fire,” much like Duran advises his 19,000 clients, out of fear of losing their capital. Another key, Duran attracts top talent. Last week, lured AIG sub SunAmerica’s Chief Investment Officer Kara Murphy, who grew Sun’s assets from $28B to $53B in four years …
Duran’s a bit of a Wall St. bear these days—valuations, rising rates … Janus’ Bill Gross was betting against U.S. Treasuries when Bond King’s Global Unconstrained Bond Fund fell 3% last Tuesday … landslide in fixed-income world, biggest one-day fund-fall ever as Italy-tremors sparked Old Glory “safe haven” play …
CA’s first new bank since the 2008 financial collapse, Costa Mesa-based Blue Gate, sold to Santa Rosa-based Poppy Holdings. Blue Gate, staked with $30M, grew assets at least fourfold … stock deal, terms not disclosed as Poppy the latest bank to push into SoCal, while that endangered species, OC community banks, loses another from its ranks. From 46 in the mid 80s to 12 today with the loss of Blue Gate, according to banking legend Ed Carpenter. Of course if you own one or two of the 12, “one of the most attractive places to be in banking in the country,” Carpenter told the Business Journal in May.
Newport Beach Mayor Marshall “Duffy” Duffield grew up alongside the family of John Wayne, but the inventor of the electric boats that bear his name, ever-present in Newport Harbor, said last week he never had a chance to make one for The Duke, who wanted a Duffy that could provide a little more privacy than the vessels typically offer.
Duffield had his chance to make another boat to honor the Wayne clan—last Wednesday he unveiled a replica of the Wild Goose, the actor’s famed 136-foot yacht, onetime World War II minesweeper now listed on the National Register of Historic Places.
The model Wild Goose takes center stage in the main lobby at the new Lido House hotel in the city, steps from the Mayor’s Table restaurant. In addition to electric boats, and mayoring, Duffy has a busy side-gig as a maker of model boats, some run close to $5,000, if not more … this one was probably much more … Duffield said Wild Goose took four months to build, crafted at the behest of Lido House developer, Bob Olson.
Oh Snap! Eugene Levy “What a week I’m having” award goes to the Venice-based
social-app developer—yes a Snap callback. Snap Inc. shares pummeled to all-time low on heels of dreadful Q1 user and revenue growth. And the new app design, “so sad” tweeted Kylie Jenner. Thought she dropped Snap …
