$$$ “The financial community has done well, but a lot of people have been left behind,” Larry Fink, chairman and CEO of BlackRock, said at the Robin Hood Investors Conference on Tuesday in Manhattan. “We should be asking the bigger question, ‘Are the investments we’re making good for society?’ ” [NetNet]
According to lawsuits by two of her former subordinates, during her time as a senior vice-president and head of business development for North America, Eileen Hedges told another one of her subordinates, 27 year-old “Jane Doe,” to:
Dress provocatively on the job
“…have sex with male HSBC executives and clients at company-sponsored events”
Specifically, “have sex with an unnamed senior executive at the bank’s Mexico unit”
The boss of the year also allegedly:
“…falsely told co-workers that Doe was having sex with clients when they traveled to bank functions outside the U.S.”
“…told Doe about her own alleged extramarital affairs with HSBC executives.”1
“… attempted to pull down Doe’s blouse and expose her breasts in the presence of male HSBC employees.”
And the reason we now know all this is because, naturally, the subordinates who filed the lawsuits were (supposedly!) retaliated against by Hedges after complaining that her demeanor on the job was slightly less than professional. Read more »
After beating cancer, Jamie Dimon — like many survivors — is looking to give back after a life in banking. The 56-year-old JPMorgan Chase chief executive is considering philanthropy and teaching when he leaves the bank he’s helmed for 10 years, he said during his first public appearance in New York since finishing the cancer treatment last month. “I still want to make it a better world,” he said Tuesday at the Javits Center for an industry conference. “I think when I’m done with this, I’m going to do it more directly.” [NYP]
Yahoo Delivers Message to Activist Starboard: Back Off (Bloomberg)
Yahoo! Chief Executive Officer Marissa Mayer delivered a message yesterday to activist shareholder Starboard Value LP: I’ve got this. Mayer began a defense of her leadership yesterday with a third-quarter earnings report that included sales that topped analysts’ estimates. She followed up with a conference call where she talked up her stewardship of the company, ticking off a list of points to show that her turnaround effort is making progress. Mayer argued she has a clear acquisition strategy for growth and said she is focused on maximizing value for shareholders. The shares jumped as much 5.8 percent today, for the biggest intraday increase in more than six months.
Russian Economy Stops Growing (WSJ)
Russia’s economy, hit by Western sanctions, stopped growing in September, data from the economy ministry showed Wednesday. Russia this year is on track to post its lowest growth since 2009. Russia’s standoff with the West over the Ukrainian crisis adds downside pressure on the economy as sanctions and geopolitical uncertainty fuel capital flight and kill investment activity. Alexei Ulyukayev, Russia’s economy minister, said that in the first nine months of 2014 the economy grew by 0.8%, Interfax news agency reported.
Goldman Sachs Shows Investors Path Out of Economic ‘Wonderland’ (Bloomberg)
Just as Alice was confused by the strange world she found herself in, Peter Oppenheimer said in a report published yesterday that investors face the unfamiliar in an environment of zero interest rates and low economic growth. Further complicating matters is that some old relationships have also broken down since the financial crisis. “Curiouser and curiouser,” he writes, quoting from Alice, in noting equities and bonds have often both performed well at the same time. Some of the strongest market performances have also been in the weakest economies.
‘Cannibal Cop’ interested in attending law school (NYP)
Notorious “Cannibal Cop” Gilberto Valle is “interested in attending law school,” his younger brother revealed in a letter to Manhattan federal Judge Paul Gardephe. “I even bought him a number of LSAT books which he completed, and he did very well on the practice tests at the end of the books,” wrote Daniel Valle The younger Valle was one of more than a dozen people who wrote letters on the ex-cop’s behalf before he is sentenced Nov. 4 for illegally using a police database. Gardephe overturned Valle’s conviction for conspiracy to murder in July. Read more »
$$$ Lawton police said Kristi Rhines ordered food and several alcoholic drinks Friday at El Chico and later told workers she didn’t have any money, but her husband would soon arrive to pay her tab. Rhines soon clarified her husband was Jesus Christ, but she admitted the union was not solidified with a marriage license. The woman, who managers said insisted the Christian savior would soon be arriving to pay in cash, was arrested on a fraud charge when police arrived and determined she had no means of paying the bill. [UPI] Read more »