on film and art FTW (for the weekend)

today's friday, but it feels like tuesday since it's only the second day of "work" for me. for the past week, i've been completely out of touch with wall street and the rest of the world. instead, i've been dallying in the world of make-believe sex, drugs, and rock & roll. and honestly, it's been really refreshing despite the long hours and the physical labor involved in filmmaking. been logging in around 2-3 hours of sleep a night and it's starting to take a physical toll on my body. filmmaking is exhaustive, but it's a good type of fatigue. at the end of the day, you're left with a final product that's an instant gratification for the effort invested. i was never one who invested in the long haul. i live for the quick fix. and i need to get my fix.

the drug use is rampant on this production. adderall, coke, weed, speed - everyone's popping pills like they're rush limbaugh at an oxycontin parade. when they're not on set, they're itching for a fix - mixing uppers with downers, trying their dearest to balance themselves in that creative "zone".

there's been a fight on the set every day and the producing team really does not work well together. jimmy's the most competent producer out of them all, but there's only so much that one man can do. mickey tells me that he thinks that i'd make a good producer and jimmy agrees, but i tell them that i hate producing. producing seems like "work" to me. and i don't find it very challenging. sure, juggling all the moving parts of a film provides a certain adrenaline rush, but it only takes common sense, good coordinating/organizational skills, and knowing a lot of different people to unabashedly ask them for favors. i hate asking for favors.

anyway, i'm kind of dreading to be back on set tomorrow and working through the weekend.

but if you're in the city this weekend, and by city, i mean new york city, you must check out the dumbo arts festival. it kicks off tonight at 7pm. when i first attended this festival a few years ago, it forced me to re-evaluate my life and the direction i wanted to head.

so i'll be heading there tonight for some more inspiration.  then i'll be heading to galapogos where they'll be broadcasting the obama v. mccain debates in 3-D. way cool. if it turns out it's too packed there, i'm probably going to head out to The Tank on Lafayette Street. i'm doing the power debates tonight. i have to do a shot for every time "change" is mentioned and my friend has to do a shot every time "reform" is mentioned. then everyone does a shot every time "bush" is mentioned.  should be good times and i'll be a bloody mess at the end of it!

oh almost forgot, on saturday night, there's the 2nd annual TAKEOVER at BAM.  if you're a fan of indie music, and 80s cult movies, and Rock Band, you definitely have to check it out!

lastly, on monday, q-tip (and according to rumors, mos def) is performing at the knitting factory at 8pm. i'm going to be there and so should you!

 

haha.

------------an email i just received---------- 

To All Persons Involved in Sales and Trading Activities

The Securities and Exchange Commission (the "SEC") issued a press release today announcing new interim rules it has adopted to strengthen investor protections against "naked" short selling. These rules apply to securities of all public companies, including all companies in the financial sector, and are effective at 12:01 a.m. ET on Thursday, September 18, 2008. Unfortunately, the SEC has not yet issued its Order adopting these rules and, therefore, many issues remain to be clarified. We will provide an update as soon as additional information is forthcoming. A summary of the new rules (taken from SEC's Press Release) is below:

(1) T+3 Close-Out Requirement

The SEC adopted an interim final rule that requires short sellers and their broker-dealers deliver securities by the close of business on the settlement date (three days after the sale transaction date, or T+3) and imposing penalties for failure to do so. If a short sale violates this close out requirement, then any broker-dealer acting on the short seller's behalf will be prohibited from further short sales in the same security unless the shares are not only located but also pre-borrowed. The prohibition on the broker-dealer's activity applies not only to short sales for the particular naked short seller, but to all short sales for any customer.

Although the rule will be effective immediately, the SEC is seeking comment during a period of 30 days on all aspects of the rule. The SEC expects to follow further rulemaking procedures at the expiration of the comment period.

(2) Exception for Options Market Makers from Short Selling Close-Out Provisions in Reg SHO Repealed

The SEC approved a final rule to eliminate the options market maker exception from the close-out requirement in Regulation SHO. As a result, options market makers will be treated in the same way as all other market participants, and required to abide by the hard T+3 closeout requirements that effectively ban naked short selling.

(3) Rule 10b-21 Short Selling Anti-Fraud Rule

The SEC adopted Rule 10b-21, which expressly targets fraudulent short selling transactions. The new rule covers short sellers who deceive broker-dealers or any other market participants. Specifically, the new rule makes clear that those who lie about their intention or ability to deliver securities in time for settlement are violating the law when they fail to deliver.

---------------------------------------------------------

so remember, especially all you hedgies, if you are short selling in the market right now, you must now do so clothed.

 

21st century socialism?

http://norris.blogs.nytimes.com/2008/09/16/socialism-21st-century-style/index.html

an interesting commentary.  is this the decline of capitalism?  no economic system is flawless. 

LEH

 

 Lehman's dying hours
By Andy Serwer, managing editor

NEW YORK (Fortune) -- The last hours, minutes really, of one the world's largest investment banks make for a pretty unusual spectacle.

I'm standing outside Lehman Brothers (LEH, Fortune 500) headquarters on 7th Ave and 50th street in New York City, watching Lehman Brothers die.

Employees, some in suits, others in casual clothes, are filing out with all they can carry as time runs out.

They are walking down the sidewalk past police barricades as scores of New Yorkers and tourists gawk, some asking, "Which star is coming out?" - not knowing what's going on.

A big cop issues the standard "keep moving" line to those of us who stop to gaze. He tells the crowd, "Go home. There is no one famous coming out. You are looking at a whole bunch of people who just lost their jobs."

Some of the people behind the barricades are loved ones - their faces distraught, their cars waiting to pick up their significant others and their boxes. One banker carries out a pair of green Lehman umbrellas, a paltry trophy.

Few parting employees are in a mood to talk - either they're still adhering to CEO Dick Fuld's tight-lipped, 'We're all in this together' policy or they're just exhausted and in major pain.

"No comment," is the standard line. A TV producer tries in vain to get interviews. I managed to ask one guy how he felt: "Look at all of us with boxes," he said with a grimace. "What do you think?"

As the night wears on, dozens of younger workers start coming out of the building. One yells, 'Jackals," not knowing that the crowd is made up mostly of relatives or clueless onlookers. A pair of employees walk out carrying orchids.

Six months earlier and five blocks away, a similar scene played out as Bear Stearns collapsed. Tonight I'm wondering how many more crash and burn nights like this Wall Street, the markets and our economy can take. 

 

up in smoke

"this one is responsibility," she indicated as she twirled it in her fingers.  i couldn't help but smirk at the devious look in her eye as we squandered the remnants of that sunny afternoon into the dusky night.  it wasn't self-destruction per se, it was blithe malice.

so we lit up responsibility and gleefully watched it burn, gradually consumed by the pulsing glow of drag after drag.  after responsibility was wisdom.  then commitment.  then honesty. 

i watched her swirl the scotch around her glass.  at this point, our eloquence had faded.  our words became stronger.  and hands lingered longer than intended when we both reached for the carton.  she took another one from the pack as i held it.  our eyes met.  it read loyalty.

"oh no, not that one," i laughed. 

"oh yesss," she playfully replied as she took the lighter to the end of it. 

i sighed and continued to sip my scotch.  she continued to smoke as our conversation lulled to measured gazes.

"what else is left?" she asked when i reached for the carton.

we took out the last one from my carton.  it read contentment.  and this one, this one we just watched burn away...  together.