Renault Service Quotes

I wondered what service a horse god wanted, and pictured myself combing his forelock, or putting ambrosia before him in golden bowls. But he was also Poseidon Bluehair, who raises storms; and the great black Earth Bull whom, as I had heard, the Cretans fed with youths and girls.

Then indeed I understood, not only this but all the rest. “But,” I said, “then Crete is being ruled by a man who does not belong to any god; who was never dedicated. He has all power; yet he has not consented to make the sacrifice. Has he consented?” There was a shadow on her cheek, as if she would smile; but her face grew grave, and she shook her head. “Then,” I said, “the god will never speak to him. How can he lead the people? Who will see their danger coming? What will happen, if the god is angry, and there is no one to offer himself? He takes service, tribute, honor; and he gives nothing! Nothing! I knew that he was monstrous! He will be death to your people, if they let him live. Why do the chiefs obey him? Why do they bear it?

What’s an IPO, exactly? A company decides it wants to “float” part of its equity on the public markets, allowing employees and founders to sell private shares to pay them off for years of service, as well as sell shares out of the corporate treasury to have some money in the bank. Large investment banks (such as my former employer Goldman Sachs) form what’s called a “syndicate” (“mafia” might be a better term) wherein they offer to effectively buy those shares from Facebook, and then sell them into the capital markets, usually by pushing it via their sales force onto wealthy clients or institutional investors. That syndicate either guarantees a price (“firm commitment”) or promises to get the best price it can (“best effort”). In the former case, the bank is taking real execution risk, and stands to lose money if it doesn’t engineer a “pop” in the stock on opening day. To mitigate the risk, the bank convinces the offering company to expect a lower price, while simultaneously jacking up what real price the market will bear with a zealous sales pitch to the market’s deepest pockets. Thus, it is absolutely jejune to think that a stock’s rise on opening day is due to clamoring and unexpected interest. Similar to Captain Renault in Casablanca, Wall Street bankers are shocked—shocked!—that there should be such a large and positive price dislocation in the market they just rigged.