That's right, people. The one bank that should be getting down this year without having to worry about petty bull shit like "tax payer money" are joining the Ban on Christmas Party Pile On. According to DB, it's not about the money, it just looks bad.
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Posted by guest , Nov 14, 2008 5:00PM
I would guess the Germans would be more apt to ruining the festival of lights
Posted by guest , Nov 14, 2008 5:04PM
Rumor has it that if you are shopping at a high end retailer they will provide you with a pedestrian brown shopping bag so that you can avoid embarrassment and questions. However, you may proudly display our china mart bag.
Posted by guest , Nov 14, 2008 5:05PM
Since we are talking about the Germans:
http://www.youtube.com/watch?v=XQkcP0olmQY
Posted by guest , Nov 14, 2008 5:08PM
@1, exactly 80 years ago Monday, actually
Posted by guest , Nov 14, 2008 5:09PM
"We Germans aren't all smiles and sunshine"
Posted by guest , Nov 14, 2008 5:13PM
Where did this come from? DB axed Christmas parties 2 years ago
Posted by guest , Nov 14, 2008 5:16PM
@6- you obviously have no idea what you're talking about, as asset management had one last year.
Posted by guest , Nov 14, 2008 5:19PM
Hey, how many more mortgages are going to be under water this month? How much further down is real estate going to go. My parents generation was relying on the money from their house for their retirement and I don't want them to come and live with me.
Posted by guest , Nov 14, 2008 5:23PM
@7 : I meant banking and trading had no Christmas parties. No one cares about your December trip to dollar-bud-light-night.
Posted by guest , Nov 14, 2008 9:14PM
8. Your parents are relying on the money from their house. Most of that generation was actually smart and aren't depending on a house or stocks so close to retirement. Too bad you inherited the stupid gene from them.
Posted by guest , Nov 15, 2008 1:42AM
nah, they're not stupid. Two 401K's shot to hell and their house value going down. And they assumed they wouldn't get SS. I sent around the question to friends and so far, my parents aren't alone. Guess your parents are the exception to the norm.
Posted by guest , Nov 15, 2008 4:08AM
A lot of firms downplayed the holidays after 9/11 out of respect and though this situation is entirely different, I believe some restraint is in order given how many people have been put out of work.
However, just how stupid do these firms think the public really is?? Like canceling their lavish holiday parties will erase their reckless misdeeds?
The public announcements that the parties are canceled are laughable considering they are spending 10x the amount of the parties lining their pockets with bonuses and raises (the fact that they are 20% smaller than past years is inconsequential).
If they REALLY want to make a statement, I would suggest the following:
1) Make SIGNIFICANT charitable donations to charities and other causes that are being hurt due to the massive layoffs the sector created; (yes, I know many firms have already done this, but a lot of it is window-dressing);
2) Brag at your ability to actually SAVE SOME JOBS by reducing the inflated executive compensation (for jobs BADLY done) and freeze raises ...
Yes, I know that sounds draconian and even socialistic, however, I'm sure anyone unemployed (including myself) would give their right arm to have their old job back, sans bonus and raise. If you can't imagine that scenario, wait until you get whacked by the axe and you discover how grim hiring prospects are.
Posted by guest , Nov 15, 2008 7:17AM
Acording to the Germans, Christmas never happened.....
Posted by Phobos , Nov 15, 2008 11:47AM
Fuck making donations; I'm charitable, but that's just stupid. You don't buy affection from the public market place, you show them they don't matter.
If you let non St. people think they have _any_ say in what happens on the St., they'll revel in that. We can't let that happen.
Everyone should be throwing the grandest parties available, to restore moral. Free vodka, en masse. And hookers, and coke, and maybe, just maybe, a midget on a rope for tossing.
Posted by guest , Nov 15, 2008 3:12PM
Electric minis. What do you think?
They look very nice indeed!
http://infocardealers.blogspot.com/2008/11/electric-minis-to-be-made.html
Posted by guest , Nov 15, 2008 5:49PM
bess, are you running out of things to write about? stop with these christmas party updates.
everyone in banking knows that hanukkah parties is where it's at
Posted by guest , Nov 15, 2008 5:54PM
which bank has "Christmas" parties? I thought they were all "Holiday" parties??? Don't let HR hear you saying a Christmas Party.
Party on b1tches,
Tanned Banker
Posted by guest , Nov 15, 2008 6:36PM
Deutsche Bank is one of the only Investment Banks in the world that hasn't had massive layoffs yet.
Posted by guest , Nov 16, 2008 1:31AM
@18 ... key word: "Yet"
Posted by guest , Nov 16, 2008 9:28AM
DB has had group Christmas parties every year in banking, but they are typically paid for by the MDs of the group... so canceling is up to them (which they likely will do)
Posted by guest , Nov 16, 2008 10:00AM
The cuts are coming.
Posted by guest , Nov 16, 2008 4:45PM
Whoever said DB didnt have banking or trading holiday parties is wrong. They just split it up desk by desk, and not for all of "trading" I know the credit guys had it at some brazillian steakhouse, cant recall the name.
Cuts at DB are coming early to mid next week, and it wouldnt surprise me if Boaz is one of those let go. Saba (DB Prop) is getting absolutely destroyed past few weeks.
Posted by Anal_yst , Nov 16, 2008 5:52PM
@ 16
Dreidel Drinking Game is where its at son!
Posted by guest , Nov 16, 2008 9:26PM
Deutsche Bank sucks, they hire all the worst people that have been fired from all the other banks.
Their analysts don't know preferred stock from livestock@!
Posted by guest , Nov 16, 2008 9:48PM
@26 actually they do, livestock is what got f*cked in the a*s last night, also known as your mom.
Posted by guest , Nov 16, 2008 9:49PM
smae at BNP Paribas
Posted by guest , Nov 17, 2008 4:47AM
Agree that jobs are gonna go at DB.
Agree that the IB arm is not having a "group" party, but individual desks/teams are.
Agree the PB and AM arms are having their parties "locally".
Agree that Christmas is cancelled, but DB has weathered the strom better than most, however I suspect that if someone opens the cupboard a few old socks are gonna fall out.....
'nuff said.
Posted by guest , Nov 17, 2008 7:33AM
Well we'll see, Deutsche has not had any layoffs yet.
DEUTSCHE BANK BITCHES!!
IT'S TOO BAD YOU GUYS WORKED FOR INFERIOR AMERICAN BANKS.
SUCK IT LOSERS.
Posted by guest , Nov 17, 2008 8:19AM
@30...Can I get some of what you are smoking?
Posted by guest , Nov 17, 2008 8:58AM
@30 ... you are delusional. I wouldn't get too comfortable if I were you. The best is yet to come. DB will not be spared and likely, neither will your ass.
Posted by guest , Nov 17, 2008 9:29AM
@30
Whatever, DB is fully backed by the German Government.
Saugen Sie meine Zehen und halt die Schnauze!!
Posted by Tau , Nov 17, 2008 9:36AM
How i miss festivus
Posted by guest , Dec 06, 2008 8:11AM
Deutsche Bank Hong Kong has fired 100 people this week including the COO of Global equities Asia, Global equities sales, Global equities structuring team, global credit trading team.
The Prop global credit trading team has lost EUR 250m in Hong Kong headed by Bing Wang. The same team in New York has lost EUR750m headed by Boaz Weinstein .
The HKMA has stepped in to HK Deutsche Bank to challenge the risk management of the Team