The Post reports that the marginally more successful, slightly less tax-evading Swiss bank in town plans to distribute a handful of pink slips in investment banking, probably around the time it mentions a sizable writedown with its second quarter earnings, though the “exact timing could not be learned.” The cuts are said to cover high-yield sales and trading as well as leveraged loans, and hack away at “muscle, not just fat.”
CREDIT SUISSE HEADS BACK TO THE CHOPPING BLOCK [NYP]
Layoffs Watch ’08: Credit Suisse To Can Both Essential And Non-Essential Employees At Some Point In The Future
By John Carney — Advertisement —
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
that’s gotta be a fun way to start your day- reading you’re about to be canned on your way to work.
You know things are bad when you have to terminate your essential employees. Kinda like donating both your kidneys; long-term outlook not so good.
You know things are bad when you have to terminate your essential employees. Kinda like donating both your kidneys; long-term outlook not so good.
Credit Suisse has no essential employees. The bygone days of Quattrone will never return. They need to be bought out. Maybe LEH and CS should merge and lean on each other for financial support.
I AM AN ESSENTIAL WORKER!
Yes…Lehman and CS merging would kind of be like Bear and Enron merging…like the bottom feeders merging with Plankton…ironic.
Turn 11 Madison into condos. I’ll take a floor-through, park-facing.
I’ve already got my stated-income, no-doc option-arm 110% ltv mortgage lined up, too!
yeah, if the Swiss fire all these kids, who is going to polish the insides of shell metal casings? how else are they to polish the inside of a 45mm casing?
you tell me.
The CS boys have hot feet…love to see them in their loafers without socks!
LEH and CS merger? That is the worst fucking idea I’ve heard since I last watched a Cramer lightning round. You’d have more luck tying two rocks together and seeing if they float.
LEH and CS would be the perfect merger. Cultures collide, but performance would improve exponentially.
@12:18 – I concur.
” Cultures collide, but performance would improve exponentially”
it is proven that this combination is impossible on Wall Street
You really thing CS-First Boston-DLJ-Lehman will be any better than CS-First Boston-DLJ?
Good luck with that one.
s75
@12:34 – I disagree. Maybe not thus far, but if the banks approach it with an open mind, we would see great synergies.
@12:36. yup, things will be different this time. it’s a new economy. housing prices never go down.
LEH and CS merging? That’s like two drunks trying to hold each other up.
We get it! It’s a bad idea. Just please, for the love of god, stop with the lousy metaphors.
the fatter they are the fatter they fall.
LEH and CS merging? No way it could happen, that’s like a two headed dinosaur trying to kill harry potter with hermoine by his side whispering Machiavellian ramblings in a desert full of black sand
what’s with the lack of love for CS? lol
Favorite oxymorons:
Jumbo Shrimp
Humane War
Essential I-banker
Get ready to have that sphincter violated!
Absolutely looooove how the article comps CS and Washington Mutual. That’s what this hifalutin wall street career has become?
Here are some other financial mergers i am also sure will happen. Natural synergies. Yadda yadda.
USB buys FNM
TROW buys CIT
NLY buys ZION
NCC buys GS
CS has done horrible in past “mergers”. They wouldnt do it for fear of more talent departures. CS is content to stay quiet while UBS bleeds in the streets for all to see.
CS needs to merge with ML, LEH, or UBS to survive.
LOL
omg really 4:18 this gets better and better.
you are aware right that CS actually have over 300 billion in deposits no?
Actually – who cares? Unless you work for CS. I won’t be shedding any tears. Should’ve taken the money and stashed it away rather than over leveraging it personally ….basic principle of investing is that things (including career prospects) can go down as well as up…Unfortunately because the young ‘smart’ guys only know that people have had it so good they weren’t prepared for a bear market – how smart are they?
I agree guest….very easy to trade a bull market and take the dollars and think you are worth it – I personally am glad there is a clean out of so called ‘muscle’ …who have probably been in the market 5-7 years..wow! So no Asian crisis, no Russian crisis with Long Term Capital…..as you said, I won’t shed any tears either….
CS is in a lot better shape then other firms on the street
Goldman needs to merge with Wachovia to survive
@ 1:59
I think the word you were so blindly grasping for was “simile” as opposed to the one you mistakenly selected (metaphor).
Similes denote an explicit comparison and can often be identified by the usage of “like” or “as.” Metaphors typically assert the comparison more directly by saying something “is” something else.
Simile: Your criticism of other thread posters has as much credibility AS an ethics in lending lesson from Angelo Mozilo.
Metaphor: Your command of high school level English IS shit.
Anyone knows what bonuses where for second and third year analysts? Not sure why they only post first years’ bonuses.
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MONT BLANC PEN
ALAIN SILBERSTEIN
ANONIMO
A.LANGE & SOHNE
AUDEMARS PIGUET
BAUME & MERCIER
BELL & ROSS
BLANCPAIN
BREGUET
BREITLING
B.R.M
BURBERRY
BVLGARI
CARTIER
CHANEL
CHAUMET
CHOPARD
CHRISTIAN DIOR
CHRONOSWISS
CONCORD
CORUM
DEWITT
EBEL
FENDI
FRANCK MULLER
GERALD GENTA
GLASHUTTE
GRAHAM
GUCCI
HARRY WINSTON
HERMES
HUBLOT
IWC
JACOB & CO.
JAEGER LE COULTRE
LONGINES
LOUIS VUITTON
MAURICE & LACROIX
MONT BLANC
MOVADO
OMEGA
ORIS
PANERAI
PARMIGIANI FLEURIER
PATEK PHILIPPE
PAUL PICOT
PIAGET
PORSCHE DESIGN
PRADA
RADO
RICHARD MILLE
ROMAIN JEROME
ROGER DUBUIS
ROLEX
TAG HEUER
TECHNOMARINE
TUDOR
U-BOAT
ULYSSE NARDIN
VACH. CONSTANTINE
VERSACE
ZENITH
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