Jobs Of The Week: Work At, You Know, And Think You Might Need One?

Posted by guest, Mar 22, 2008 4:56PM

I wish the best of luck to UBS, given its current sorry condition

Posted by guest, Mar 22, 2008 7:02PM

I hear that UBS IB 2nd year analysts aren't being brought back after bonus time in June. Any truth to this? Check out this new blog I found on Analyst and Associate Salaries and lifestyle: http://alphabonus.blogspot.com/

Posted by JorgeCad, Mar 23, 2008 4:35PM

Commodities are the next bubble to burst. You are too late to cash in.

Taking a job in commodties is akin to taking a job at NorTel. You will receive countless promises of riches, but when you arrive, you will find there is nothing there.

Mark my words. Oil will settle back large, probably around $75. The speculative bubble is about to burst. My rationale:
(1) Alberta, Canada has enough oil to feed USA and China, from its tar sands, for about 200 years. Yes it's an ugly process but it works. I am told b/e point for this process is around $45/BBL

(2.) Cartel is not stupid, they know this fact. OPEC completely understands this fact. That is why OPEC is so non-differential. All the cartel does is watch and listen.(to date - BTW the Canadian reserves I speak of are not part of the cartel, they control roughly 40% of the market)

(3.) Hedge funds are collapsing as I type this. They will quickly learn BSC's lesson. Once the credit lines dry up, you are stuffed. So oil is a fool's game ... still in?

geo

I can assure you, once this realization hits the market, the BSC flame-out will look like a picnic.

Posted by guest, Mar 24, 2008 12:00AM

ejaculate into a sock

Posted by guest, Mar 24, 2008 12:29AM

wtf, let's get some bear stearns thread going, those dudes are back in the news!

JPMorgan in Negotiations to Raise Bear Stearns Bid
http://www.nytimes.com/2008/03/24/business/24deal.html

Now doesn't this just smack of collusion? Imagine your boss calling up the rest of the street asking them pretty please not to hire your now significantly-poorer ass. NOT COOL!

"Mr. Dimon became increasingly desperate in recent days. He offered certain employees cash and stock incentives to stay on and made calls to his rival chief executives on Wall Street — John J. Mack at Morgan Stanley and John A. Thain at Merrill Lynch, among them — pleading with them not to recruit Bear employees during the transition."

--
Y.

Posted by guest, Mar 24, 2008 1:22AM

@12:29am -- Thanks so much for your post. I read the Bear Stearns story in the Times. What a mind-bender! The Times story makes Jamie Dimon sound completely unhinged, but of course that could be a bias on the part of the reporter or distortion caused by my personal views.

Btw, the WSJ ran a story Saturday that said Dimon had asked major clients of Bear Stearns not to continue to conduct business with Bear until the deal was sorted out.

Posted by Random Banker, Mar 24, 2008 4:28AM

Well Andrew Ross Sorkin now officially owns the WSJ, they still don't have this story.

Also I knew that clause about financing all of Bear's trades regardless of whether the deal was approved gave Bear's shareholder's no incentive to approve this deal. Now allegedly this is being called a "mistake" by the Times. One cannot fathom how that could be possible. Anyway, there's even less incentive to accept the deal now that the "mistake" has been brought to light. Another bank should step in just to fuck JPM, BSC has JPM's balls in a vise.

Also, who the fucked negotiated this thing? Steve Black? He should be fired.

Posted by guest, Mar 24, 2008 5:42AM

Bloomberg finally picked up the story from the NY Times. Nothing on WSJ yet.

I can fathom how the clause was mistakenly left out ... too much pressure, too little sleep. This was a massive deal, a huge shift of private wealth, that the Feds forced be concluded in 48 hours.

After the news reports broke, it was unclear to me what would happen in case of a shareholder rejection. The contrary shareholders probably had their lawyers look at the agreement closely for a number of reasons, and questions about the absence of this clause began to be raised.

I'm going back to sleep and will see what is happening in a couple of hours.

Posted by guest, Mar 24, 2008 8:27AM

Re:
New York Times
JPM in talks with Bear to sweeten deal
By New York Times March 24

"Mr. Dimon became increasingly desperate in recent days. He offered certain employees cash and stock incentives to stay on and made calls to his rival chief executives on Wall Street – John J. Mack at Morgan Stanley and John A. Thain at Merrill Lynch, among them – pleading with them not to recruit Bear employees during the transition."

Q: Isn't it illegal to collude with others to prevent the proper functioning of the job market?

Posted by guest, Mar 24, 2008 8:30AM

Re:
New York Times
JPM in talks with Bear to sweeten deal
By New York Times March 24

"Mr. Dimon became increasingly desperate in recent days. He offered certain employees cash and stock incentives to stay on and made calls to his rival chief executives on Wall Street – John J. Mack at Morgan Stanley and John A. Thain at Merrill Lynch, among them – pleading with them not to recruit Bear employees during the transition."

Q: Isn't it illegal to collude with others to prevent the proper functioning of the job market?