Rubbernecking on Wall Street
The urban legends spawned last week over the smash-up of uber-banker Robert Greenhill’s (GHL-NYSE) Porsche Carrera GT included everything but Greenhill selling a kidney to pay for a loaner car.
However, the blogs detailed wild stories about how the one-in-1,500 Porsche was destroyed by a friend, who in turn rush ordered a replacement, which would have set him back $440,000. It turns out this detail was wildly inaccurate. Instead, the official story according to the Post is the car was destroyed by Christopher Numme, Greenhill’s mechanic, who was returning the car after completing service on it. (dealscape)
We have never met a financial journalist who could afford a Porsche Boxster, much less a Carrera GT. Thus the inaccuracies. But even mini-ballers on Wall Street know that Porsche ceased Carrera GT production about 200 units shy of the planned 1,500 production run due supply and demand issues.
German women are gorgeous...and German men are pragmatic. With resale prices on the Carrera GT plunging faster than the Nikkei circa 1991, the bean counters in Zuffenhausen pulled the plug last spring in order to protect their customers who were already long the supercar.
Economics 101. Duh.
Given the imbalances in the marketplace, paying over 400k for a Carrera GT is nothing more than hyperbole. Those of you looking to treat yourself after the bonus check clears should call this guy...and tell him StockJockey sent you.
Of course we are not miracle workers. If you need a Manhattan parking spot you are going to have to call Seinfeld.
Holiday Gifts for the Filthy Rich
Masters of the Universe love to lap up luxury goods.
You know the type. They blow by you on the Merritt Parkway in exotic sports cars. You often overhear them berating waiters who get stingy with truffle shavings. Their Blackberry’s get more attention than their children. They work hard and play harder...and are notoriously tough to please.
Coach (COH-NYSE) might be considered a luxury good to middle americans, but the average MOTU wouldn’t be caught dead schlepping cheap cow around 06831. They will re-gift it to their nanny’s, however.
And nothing is more insulting to the new money crowd than being on the receiving end of a bottle of cheap wine or booze. Critter labels and Two-Buck Chuck have no place in their McMansion. Indeed, they would probably admit to watching Savanna’s movies in their Range Rover’s before they would fess up to drinking her wine.
So what do you get the person who has everything?
The WinePod will likely pass muster with the Master...watch them plug a Bloomberg in and ferment away the slow trading days.
Getting crushed in a stock leaves a bad taste in your mouth. Crushing wine is a lot more palatable.
Just do Me!
Surfing the blogosphere is tough work. It is always a more palatable endeavor when paired with a glass of red wine. We have been fortunate enough to drink lots of killer juice over the years, helped in part by our ability to score allocations from such esteemed Napa properties as Shafer Vineyards and Harlan Estate.
A steady escalation in the release prices of their flagship wines has us questioning our staying power on their coveted mailing lists. If you don’t order the current release they throw you under the bus and delete your contact information. Which is a bitch when it takes nearly a decade of waiting to make the cut. Harlan “invited” me to purchase their 2004 Cabernet at $350 per bottle, which causes even Masters of the Universe to blink. After you pay for the wine they are kind enough to release to you...about a year later. These winemakers likely trained as accountants too given the working capital benefit of this arrangement.
But trophy wines are unsuitable for everyday drinking given the prohibitive cost. Thus we find it necessary from time to time to go slumming in the under $50 a bottle category. The wine aisles at retail can get a little seedy at this price point, kind of like Times Square circa 1991, before the Disney-fication of NYC. Lots of shifty people exchanging furtive glances at prices.
After months of breathless anticipation, we finally had a chance to try the debut vintage of Sogno Uno, a $42 wine at retail (Buy it here). A wine that in theory should leave us hot and bothered.
Savanna Samson is likely a familiar face to many degenerate readers of UTC. You don’t know her from her ballerina days, but likely spent quality time with her at Scores when she danced there. With nearly 30 movies to her credit, including our personal fave Just do Me!, she has deftly managed her career without becoming as overexposed and nauseating as say, Paris Hilton.
Savanna made quite a splash earlier this year when the inaugural release of her wine, Sogno Uno, snared a 91 point score from wine critic Robert Parker. This garnered her a wider audience…
The release of the wine was held up for several months by government authorities because of the controversial label, which features the fetching Ms. Samson in a provocative pose. Racy stuff, but hardly pornographic.
We like the wine but will spare you a pithy tasting note. Lets just say it was voluptuous and worthy of a 34-C rating, which coincidently is in line with Savanna’s ample endowment.
