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Derek Loosvelt

Derek Loosvelt is Vault's senior finance editor. Derek has a BS in economics from the Wharton School at the University of Pennsylvania and an MFA in creative writing from the New School. His writing has appeared in several online and print publications. Previously, he worked in investment banking as an M&A analyst and associate.

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All Posts by Derek Loosvelt

Dear Class of 2014

by Derek Loosvelt  |  May 16, 2014

Good morning. So, there's this kid who was born in Hell's Kitchen in the 1940s, and this kid makes it out of high school but doesn't make it to college, because, well, back then few kids from Hell's Kitchen made it out of high school alive, much less with a college acceptance letter in their fists. And this kid, he wants to be in pictures, which is to say the movies, and so he does some acting, all nothing parts, thug, bouncer, tough guy, he's not much of an actor to tell the truth, and so... Read More >

Too Confident to Fail

by Derek Loosvelt  |  May 14, 2014

With the proliferation of the virtual marketplace and crowdfunding sources, it's not surprising to learn that today it's easier than ever to start a business and get it funded. It's also not surprising that since there are more new businesses than ever, there are more failed businesses than ever, too. But what is surprising (at least to me) is that studies show that failure doesn't equal learning experience in the startup world. In fact, failure isn't an indicator of future success but of... Read More >

The Rise of Supersalaries, Income Inequality, and Thomas Piketty's 'Capital'

by Derek Loosvelt  |  May 06, 2014

I live in Brooklyn, and this past weekend, at my local independent bookstore, where the titles that typically move are those written by the many novelists who live in the outer borough, front and center in the store window and on the checkout counter was the new, Bible-thick, nonfiction title Capital in the Twenty-First Century, by French economist Thomas Piketty. Capital, if you haven't heard, has been receiving a ridiculous amount of praise. Nobel Prize-winning economist Paul Krugman has... Read More >

Face It, We’re Cubed

by Derek Loosvelt  |  April 29, 2014

There's a very good chance that right now you're seated in a swiveling, ergonomic chair on wheels, staring at a computer screen, reading these digital words within three or four flimsy chest-high walls, just beyond which is another person who's seated in a swiveling, ergonomic chair on wheels, staring at a computer screen, reading other digital words within three or four flimsy chest-high walls, just beyond which is another person … and so on, and so on, and so on. That is, there's a good... Read More >

Pope Francis' First Year: The Next Great Harvard Business School Case Study?

by Derek Loosvelt  |  April 25, 2014

If the Roman Catholic Church were a public company, its share price would have doubled in the past year and its CEO would now be in a strong position to ask the board for a raise. This is more or less what The Economist implied last week when it published an article called "The Francis Effect," comparing the Pope to great turnaround CEOs "such as IBM's Lou Gerstner, Fiat's Sergio Marchionne, and Apple's Steve Jobs." The subhead of the article reads, "About to take over a crisis-ridden... Read More >

Deutsche Bank's $4 Billion Hangover, Part 2

by Derek Loosvelt  |  April 22, 2014

Three years ago, just after the Deutsche Bank-owned Cosmopolitan hotel and casino opened in Las Vegas, I spoke with a Vegas insider about the German bank's big Sin City bet (you can read part of that conversation in a previous post here). And last week, just after news broke that Germany's largest bank had put the Cosmopolitan up for sale, I caught up with the same Vegas insider (who's worked and lived on and around the Strip for nearly 15 years) to ask him, among other things, why the... Read More >

‘Testament’ to One of World’s Most Dangerous Jobs

by Derek Loosvelt  |  April 21, 2014

This past Easter Sunday marked the third anniversary of the death of Chris Hondros, a Pulitzer Prize-nominated photojournalist who was killed in 2011 while on assignment in Libya. Hondros, who spent most of his career documenting war, took photographs that according to Mother Jones are "critically important in our understanding of what's going on in the world [and] critical in getting people to pay attention." Earlier this month, Powerhouse Books published a book of Hondros' photos and... Read More >

Google Wants 600,000 More Square Feet of NYC Office Space

by Derek Loosvelt  |  April 15, 2014

Earlier this week it was revealed that Google, which already occupies 750,000 square feet of office space in New York, is on the hunt for 600,000 more. The tech firm wants the space to house another 3,000 employees in New York. When I mentioned this to a coworker, she joked: So, does that mean I should work on my resume? Perhaps it does, I replied, and it also means that you better lock-in your lease as fast as you can, because 3,000 more Googlers in Manhattan (and Brooklyn) can only mean... Read More >

PwC Ranks No. 1 in Vault’s Latest Accounting Rankings

by Derek Loosvelt  |  April 14, 2014

Today we celebrate Tax Day with the release of the latest Vault Accounting 50, a ranking of the best accounting employers to work for in North America. Recently, we asked more than 10,000 accountants to rate their peer firms in terms of prestige; we also asked them to rate their own firms in numerous workplace categories, including culture, work/life balance, hours, compensation, training, overall satisfaction, and business outlook. And in this year's Accounting 50-which takes into account... Read More >

‘Flash Boys’ Author Michael Lewis: IT Geeks Shall Inherit the Street

by Derek Loosvelt  |  April 04, 2014

For a long time, Wall Street knew this day was coming. And now, Michael Lewis and Main Street know it, too. In the very near future, no longer will the sharpest blue-blooded, type A, squash-playing, financially-driven Ivy League graduate with excellent complexion rule the trading desks of Wall Street's largest and most-storied institutions. Instead, it will be the most creative and innovative IT guy (or gal) who'll be calling all the shots. And here's Michael Lewis, speaking on Bloomberg... Read More >

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