Supposedly "big cuts" are happening up at SAC circa now. Apparently the cannings, which have been going on "for a bit," are across the board, and include employees in CR Intrinsic. We knew things were bad at the Big Guy's house but this is quite disheartening. Fingers crossed that holiday party is still on, as Gary Busey has already rented his tux. Pruning is also said to be occurring today at Sigma Capital Management, including the dismissal of PM Julie Macklowe, Billy-boy's wife.
Related: SAC Capital Taking A Breather
Posted by guest , Nov 06, 2008 1:35PM
1
Posted by guest , Nov 06, 2008 1:36PM
@Bess,
It would be best if you rather have a list of corp's that are not laying of people...
Posted by Seaman Bodine , Nov 06, 2008 1:39PM
@2
http://careers.edwardjones.com/us/index.html
Posted by guest , Nov 06, 2008 1:43PM
My firm is hiring. If you are 18-27, attractive and disease free please contact me for an exciting opportunity in adult entertainment.
Rudyd@platinumescorts.com
Posted by guest , Nov 06, 2008 1:43PM
What about a list of corps that are getting people laid?
Posted by guest , Nov 06, 2008 1:45PM
Steve will probably deny he's in trouble, like Cliff did. that DB is "grossly exaggerating" the loss of personnel and AUM.
Posted by guest , Nov 06, 2008 1:48PM
cuts? pruning? sac? enough already I am losing bloodflow.
Posted by guest , Nov 06, 2008 1:49PM
Fuck cliff asness.
Posted by mrpink , Nov 06, 2008 1:52PM
Gotta cut back on buying dresses, v. secret for the trading staff. I'd bet hormone pill sales are going to be down on this news, I'm shorting Pharma based on this horrible news.
-mrp
Where's Tong and Pink(g) Jiang?
Posted by guest , Nov 06, 2008 1:52PM
Serious dearth of comments today and no Guess the Dow@close...What's happening people? Too many trapped longs?
Posted by guest , Nov 06, 2008 1:53PM
Hedge funds run pretty lean dont they? Can layoffs really be of a significant number? Also, so much of the comp is incentive based, so how much money is saved by showing someone the door? Comments?
Posted by guest , Nov 06, 2008 1:54PM
what is the deal with bridgewater?
Posted by guest , Nov 06, 2008 1:59PM
WTF! explain the AIG Jan 28 call volume
Posted by guest , Nov 06, 2008 2:01PM
I want the truth
Posted by guest , Nov 06, 2008 2:03PM
Anyone know what Rahm Emanuel did at Dresdner AG? i-banking?
Posted by guest , Nov 06, 2008 2:07PM
Where's the fucking money Lebowski?
YEAH WHERE'S THE MONEY SHIT HEAD!
Posted by guest , Nov 06, 2008 2:07PM
17 No, but I do know that his brother is an agent at ICM in bev hills and the inspiration for Ari on Entourage.
Posted by VOL IS KING , Nov 06, 2008 2:08PM
@17
yeah he was a banker.
Posted by guest , Nov 06, 2008 2:09PM
19 - Don't pimp your POS newsletter here. It just gives people someone to trade against.
Posted by guest , Nov 06, 2008 2:10PM
17 I'm guessing he did what everyone who gets out of a good school with a lib arts degree and then lands a banking job: spreadsheet humping, pitch book construction and carrying, smiling at the client knowingly while the MD tries to make the sale.
Posted by guest , Nov 06, 2008 2:15PM
@17...Ari Emmanuel is not at ICM - he runs his own shop and its Endeavor.
But i never made that connection before?
Posted by guest , Nov 06, 2008 2:17PM
I think today will be a record for the most comments deleted. Can we start selecting our comments from a drop down box?
Posted by guest , Nov 06, 2008 2:18PM
@ 16 Classic! How would Lebowski do on the street?
Posted by guest , Nov 06, 2008 2:21PM
@23...OBVIOUSLY YOU'RE NOT A GOLFER.
Posted by FUNdamental , Nov 06, 2008 2:21PM
sac was getting a little too bush league. A good trim was in order.
Just home they don't cut too deep, you can shear a sheep many times, but skin it only once.
Posted by guest , Nov 06, 2008 2:22PM
@ 24 please playboy... +2 whatcha know about that?
Posted by guest , Nov 06, 2008 2:23PM
Randomly deleting comments has the unfortunate side-effect of making other comments useless. Now I'll never know what pearl of wisdom "17" spouted.
Posted by guest , Nov 06, 2008 2:25PM
@27- it's not random deleting, it's deleting of spamming garbage, such as the link from the old 17 to his shit blog.
Posted by diablo , Nov 06, 2008 2:26PM
@20
Wrong.
Over a 2 1/2-year Emanuel helped broker deals for Wasserstein Perella.
According to congressional financial disclosures, he earned more than $18 million during that period. His deals included Unicom's merger with Peco Energy and venture fund GTCR Golder Rauner's purchase of SBC subsidiary SecurityLink. But friends say his compensation also benefited from two sales of the Wasserstein firm itself, first to Dresdner Bank and then to Allianz AG.
Posted by guest , Nov 06, 2008 2:26PM
@26...it was a joke howdie -
My... my wi-, my wife, Bunny? Do you see a wedding ring on my finger? Does this place look like I'm fucking married? The toilet seat's up, man!
Posted by guest , Nov 06, 2008 2:28PM
@27 I gots tons of wisdoms to share, whats your question. Better hurry before this is two deleted.
SPODE
Posted by guest , Nov 06, 2008 2:32PM
@29...does he know Muffie? I bet he would slap her to the curb!
Posted by guest , Nov 06, 2008 2:34PM
And let's also not forget -- let's not forget, Dude -- that keeping wildlife, uh, an amphibious rodent, for uh, you know, domestic... within the city... that ain't legal either.
Posted by diablo , Nov 06, 2008 2:49PM
@32
Good question because Muffie is a fictional character with obvious Chicago connections.
However, the person who writes as Muffie (and that's not Bess), would definitely be bitch slapped to the curb by Rahm. He doesn't suffer fools gladly.
Posted by guest , Nov 06, 2008 2:54PM
@32 ... he would indeed
Posted by guest , Nov 06, 2008 3:52PM
SAC is positioned well, despite the fluidity of the situation.
Posted by guest , Nov 06, 2008 4:33PM
Does anyone have SAC's Oct & YTD numbers? Did Stevie get a VW lube special at the end of the month?
Posted by guest , Nov 06, 2008 8:40PM
i've also read that rahm was the inspiration for the joshua lymon character in the West Wing, back from his days as an advisor in the clinton white house.
think he went to Dresdner after the clinton years and worked for a few years, built up a war chest so he could return to public service and not have to fret too much about the abysmal pay.
Posted by bizblogged1 , Nov 07, 2008 7:16AM
Most of the well known companies are in the mood of firing employees. The list is being increased every time. No one knows when this situation would be stopped.
Finance blog, Finance, Economics, Corporate Finance, Personal Finance, Investing and Marketing
Posted by guest , Nov 07, 2008 11:00PM
37 Word has it that SAC blew up his personal trading account in the VW short squeeze. 9 billion gone baby gone. Heard he's going through a shit storm - major trouble ahead not confined to profitability.
Posted by guest , Nov 07, 2008 11:30PM
@40, Thank You,
I always wondered when he would jump the shark and get eaten...
-37