John Thain isn't the only one out of a job. Apparently all Bank of America equity research 1st years were laid off today.
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Posted by guest , Jan 22, 2009 12:05PM
When do we get the memo? ARS what you got? remember CEO's a memo a day keep the BK away.
Ken Lewis for head of Special Olympics
Posted by guest , Jan 22, 2009 12:05PM
who needs analysts anyways
Posted by guest , Jan 22, 2009 12:06PM
Who is going to fetch lunch??
Posted by american bandersnatch , Jan 22, 2009 12:07PM
Tough crowd.
Posted by guest , Jan 22, 2009 12:07PM
good riddance
Posted by guest , Jan 22, 2009 12:08PM
C-Gasp is just so darn smart.
Posted by guest , Jan 22, 2009 12:08PM
They were only fat, now they are jobless to. America and its obesity: The Fats that scare the cats.
http://www.thelogicgirl.com/search/label/Obesity
Posted by guest , Jan 22, 2009 12:10PM
Farewell emails starting to flow from BofA equity sales & trading...
Posted by guest , Jan 22, 2009 12:10PM
Gaspo is really filling a void. At a time like this we need to have a cartoonlike character reporting this kind of stuff. If you think about it nobody can do that as well.
Posted by guest , Jan 22, 2009 12:12PM
they're going to keep coming...the weapon of choice is a chainsaw over here.
Posted by guest , Jan 22, 2009 12:12PM
LynchAmerica Countrywide going down the gutter.
Posted by guest , Jan 22, 2009 12:13PM
does anyone else hear those sirens? are they burning the place down over there?
Posted by guest , Jan 22, 2009 12:13PM
S&T getting hit hard? Have a lot of friends over there.
Posted by guest , Jan 22, 2009 12:15PM
@13...yes...
Posted by guest , Jan 22, 2009 12:15PM
S&T getting hit hard? Have a lot of friends over there.
Posted by guest , Jan 22, 2009 12:15PM
LynchAmerica Countrywide going down the gutter.
Posted by Private , Jan 22, 2009 12:19PM
Blackberries and loafers, blazers and ties
Those used to be the things that excited my eyes
In reality its excel, financials, double monitors and lies
Oh how sometimes I wish I were blind.
The work, and strife are not worth the depression
I used to be tan and sexy, now a whiter complexion
Stuck inside these evil walls
I used to have girls sucking my balls.
Posted by Novice , Jan 22, 2009 12:21PM
@10 The Hatchet Man upgraded? I miss that guy.
Posted by guest , Jan 22, 2009 12:21PM
@17 En fuego, dude. Like Chazz, bad stuff happening to other people sets your juices flowing (literally, in case of CG!) I guess.
Posted by guest , Jan 22, 2009 12:22PM
@17
A poem a day
Keeps suicide away.
Posted by guest , Jan 22, 2009 12:23PM
17 What kind of banker wears blazers and loafers?
Posted by guest , Jan 22, 2009 12:26PM
In a world in unsecure income/jobs, here is what you should make sure to hear:
Congratulations!...Your Hired!
http://tinyurl.com/dzchl7
Jobs or income for those with jobs:
http://tinyurl.com/b84rbr
Posted by Private , Jan 22, 2009 12:27PM
@19, it doesnt get my juices flowing, I feel for all of them.
@21, you are completely correct, error on my part.
Posted by guest , Jan 22, 2009 12:28PM
@18...no, they fired the Hatchet Man and contracted out Patrick Bateman.
Posted by guest , Jan 22, 2009 12:31PM
Awesome 17.
SPODE
Posted by guest , Jan 22, 2009 12:32PM
@17 i used to have your mom sucking my balls, yet, do i complain?
Posted by guest , Jan 22, 2009 12:34PM
Does this include former MER 1st years in research? Or does this simply allude to the legacy BofAs?
Posted by guest , Jan 22, 2009 12:34PM
Does this include former MER 1st years in research? Or does this simply allude to the legacy BofAs?
Posted by guest , Jan 22, 2009 12:35PM
Does this include former MER 1st years in research? Or does this simply allude to the legacy BofAs?
Posted by guest , Jan 22, 2009 12:35PM
Let's remember - Thain's job was to maximize value for ML shareholders - and given what was going on at the time - you can't really question his efficacy. That the result was shite for BAC's shareholders is Ken and their board's fault for buying the thing - not JT's for selling it. He pulled the rabbit and everything out of the hat for ML last year.
Posted by guest , Jan 22, 2009 12:37PM
@ 24 - bush league
Posted by guest , Jan 22, 2009 12:38PM
@21, bankers in Charlotte
Posted by guest , Jan 22, 2009 12:41PM
@ 30 - we've had this discussion before. maximizing shareholder value and lying are two different things. one does not excuse the other.
Posted by Harald , Jan 22, 2009 12:42PM
all of them? holy crap. sorry research
Posted by guest , Jan 22, 2009 12:46PM
@33 in the words of sir costanza: It's not a lie, if you believe it.
Posted by guest , Jan 22, 2009 12:50PM
@17: Line 3, get rid of "financials," it throws your meter off and sounds forced.
@22: Go fuck yourself. DB, who do you allow those spam links to be posted?
Posted by guest , Jan 22, 2009 12:55PM
What happened to NY BOA Commodities folks, in detail, anybody?
Posted by Private , Jan 22, 2009 1:27PM
There’s No Hope These Days:
There’s no hope these days,
That I can promise
What once seemed fulfilling
Became null and demeaning
Dreams of power and success
Have turned dim in distress
My friends laid off, not given a chance
People left to dry, without money in their pants
There’s no hope these days…
Posted by Private , Jan 22, 2009 1:30PM
I just heard that people are walking out of the BOA building in Bryant Park and quitting, this true?
Posted by guest , Jan 22, 2009 1:37PM
They said something on CNBC but I didn't catch it all.
Posted by guest , Jan 22, 2009 1:47PM
Poor kids. Though to be fair theres only so much research and analysis needed to state "This suckers going down!"
Posted by guest , Jan 22, 2009 1:51PM
Did any of the BOA guys who were on the USair flight get fired?
It would be ironic if in death their (ultimate) separation package would be worth more vs. what they will get by surviving the crash but not the kenny.
Posted by guest , Jan 22, 2009 1:57PM
BofA securities is getting dismantled. 90% of the employees have been let go. KDL screwed his investors and employees. Way to go asshole!
Posted by guest , Jan 22, 2009 2:05PM
@ 37 - all gone. The 2-3 left are moving to Houston...
Posted by guest , Jan 22, 2009 2:06PM
@15 Why don't you ask your friends?
Posted by guest , Jan 22, 2009 2:15PM
50% of legacy bofa employees were let go today in Global Structured Finance in Charlotte. Mostly associates and analysts so far. ML heads basically took over the ABS Syndicate desk as well. Duplicates exist in the managing director level. Looks like ML employees got a better deal as of today. Go Kenny boy, we believe you are next
Posted by guest , Jan 22, 2009 2:18PM
What is REIB? What is RE stand for?
Posted by guest , Jan 22, 2009 2:28PM
@47 - RE is stand for "REtard", which is what YOU see in the mirror each morning.
Posted by guest , Jan 22, 2009 2:30PM
Why doesnt someone pls pop Gas bag gaspirino in the blinking mellon of his...he got so wired before he was blinking in nanoseconds...i wish that girl on CNBC would get in cat fight with him
Posted by guest , Jan 22, 2009 3:38PM
it sounds like incoming analysts from the combined MER/BAC class are okay... any more insight?
Posted by guest , Jan 22, 2009 3:55PM
Wow Class of 2009 got lucky...class of 2008 has taken the brunt of layoffs it seems
Posted by guest , Jan 22, 2009 3:57PM
@50
It's too early to tell. Perhaps todays layoffs were made in research to make room for everyone in the combined incoming class. Than again, if this pattern continues, perhaps only the incoming MER class will have spots. Anyone in MER or BAC research know how big their incoming class will be this July?
Posted by guest , Jan 22, 2009 4:14PM
BOA is only 7 new offers given out, not sure how many they hired from previous summer interns
How many research folk got laid off total?
Posted by guest , Jan 22, 2009 4:18PM
I wish KL was there on that plane. I am sure he would have died of stroke then.
Posted by guest , Jan 22, 2009 4:31PM
&40.....No shit number 40....they just say something on CNBC and they don't know what is was....not to feel bad.
Posted by guest , Jan 22, 2009 5:09PM
@51-53. BAC only put out 7 offers total? you must only mean research... how about IB? from what it seems, 09 class is 1/4 the size as normal (in IB), you would think they are still good (or no?)
-50
Posted by guest , Jan 22, 2009 5:14PM
@56
I believe the 7 offers are referring to equity research only. Throw in another ten or so summer analysts returning, and BofA research is probably bringing in 15 to 20.
Now, does anyone know about Merrill's side of the equation? How many incoming analysts make up their side of the research class?
Posted by Formerly FEPWJ , Jan 22, 2009 5:19PM
17 -You should have been the poet at the inauguration
42 -Hilarious
Posted by guest , Jan 22, 2009 5:25PM
@57
the number seems low... how does it compare to prior classes? and how about incoming IB from both sides (BAC/MER)? i'm told BAC has been real conservative on this IB class number wise...
Posted by guest , Jan 22, 2009 6:17PM
Run rats run, faster in your wheel!
Better get that excel sheet or pitchbook up to date or the cheese gets pulled away.
Hilarious, proles chasing lames money in equity research and I B which equals being a bank teller now.
Posted by guest , Jan 22, 2009 6:30PM
@48: if you dont see anything in the mirror in the morning, you must be looking at a ghost. If you dont know what REIB is, just ask. Someone here, not as retarded as you are, would give you some knowledge.
Posted by PacificGatePost , Jan 23, 2009 1:46AM
Layoffs will continue apace, but there are cutbacks to CEOs should implement to reduce the carnage and unemployment lines?
http://pacificgatepost.blogspot.com/2009/01/youre-fired-now-wheres-my-raise.html
…. Another attitude adjustment.
Posted by guest , Jan 23, 2009 9:16AM
so i was one of the unfortunate 1st years friday yesterday in S&T. I know everyone is wondering wtf about the pay? well it was nice, 4 months. Well they are firing 500 traders today so keep a lookout lol. it is a shit show, but fun to watch.
Posted by guest , Jan 23, 2009 9:51AM
@63, yes, i heard more will be cut today too, continue to IT and other areas.