About twenty percent of the sales team was booted from Meredith Whitney’s Den of Iniquity yesterday. Dismissed employees were apparently given the news while being worked over one last time by W and her spreader y truss bar. Vikram Pandit and the team at Citi are said to be working now on an email that blast that calls Mer and Opp out for being a cesspool of ineptitude.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
Those booted from Oppenheimer should count themselves lucky. That place is a glorified boiler room bucket shop run by the incredibly cheap and drunk Bud Lowenthal and his idiot son.
Bess,
What is your buy out price to leave for Deal Book?
-NYT
Stupid idiot son, I will call you Spalding.
any update on barcap? i heard they let go 30% of 1st year in ibd
They must be laying people off to fund Meredith Whitney’s bonus check. I still can’t understand why she stays there…they must be bribing here with large sums of money to stay. No one worth a grain of salt stays at OPCO, only those that are trapped there because they are unhirable elsewhere stay.
I thought Gene Hackman ran Oppie
Jan. 15–”Citigroup Stock Pummeled After CEO Pronounced Healthy”
What’s the deal with the situation over at Jeffries?
@5
Quit thinking out loud. Brainstorm, then write. Maybe fragment a sentence or two beforehand, it helps get the brain juices flowing. Loser.
Opco sales made a living of LS Equity funds, who followed Sasa Zorovic, Ian Zaffino, and that dude Bernie who covered retail – probably not many tickets on Whitneys calls, plus LS Equity is so fooked that there’s really nobody left to hammer.
@8 Jeffries, the bar? Hoppin’
Where’s the sizzle in any of this?
the situation at Jeffries is probably fluid.
let’s talk about m.w. she’s been wrong on bac since it was in the mid twenties. the guy from fbr called it a $9 stock and whitney was noticeably silent. stock is now at $8, is she losing her touch?
I do not understand why people end up at OPCO in the first place… You must be really desperate to work there. What a sh*t hole.
I love the Layoffs Watch, but 20% of WHAT? 10 people? 200 people? General context would be really helpful.
@15
you must not know what a U4 is
Opco doesn’t either
whitney got a lucky break. how many times have analysts recommended a stock and see it tank or vice versa. anyone couldve predicted citi, her timing was just correct. i feel like analysts make a bunch of calls out of left field and if it sticks they are geniuses, but if it doesnt, hey, i made a bad call b/c i cant predict the future
@16- 5/25
@ 18. bankers do the same thing
@18 Agreed…why doesn’t someone go through all of MW’s predictions and see how many came out correct (or even close to being correct). I’m sure it won’t be that high and probably less than 25%
@ 18: hello, meredith here. I queefe on you.
Toodles
i have to return some video tapes
I could use a Catherine Hooper fix this a.m.
Bikinis, behinds, bonefish and braids…can I get a “hell yeah!”?
-BBF
MW. The perfect combination of brains and brawn. A marriage made in heaven I tells ya.
@19: @16 here. Thank you.
Says Oppenheimer – come back to me CIBC World Markets. I am not done scr*wing you
This is a quote:
Whitney’s insights haven’t always translated into lucrative investment picks. Based on the performance of her buy and sell recommendations relative to her industry peer group – what analyst tracker Starmine refers to as an analyst’s “industry excess return” – Whitney’s stock picking ranked 1,205th out of 1,919 equity analysts last year and 919th out of 1,917 through the first half of 2008″
here is the article:
http://money.cnn.com/2008/08/04/magazines/fortune/whitney_feature.fortune/index.htm
her stock picking basically sucks
Too whitney didn’t read
Too whitney didn’t read
Whats the rumor re: Jefferies? Please don’t tell me that they are letting people go too.
Did anyone see MW on CNBC yesterday? She looked big as a house in a giant white sweater. Is she will child or just a phatty?
Kudos to Merideth Whitney for being right, but there’s a point at which she should shut the fuck up and come up with answers rather than point up problems.
Hard to get the right answers if people think banks are in better shape than they are.
Jeffries are firing daily over this week..
not sure if anyone will be left…
its become a strange eerie place today with all 4 around me gone.
the assets would pretty much be used kitchen equipment and chairs and tables. Not worth much in this environment. The brand=worthless as the company attributed BK to drop in customers due to cutback in discretionary spending. I’d call this a liquidation. Agree…disagree?
@ 35
if you worked at Jefferies, wouldn’t u get the spelling right, of which Jefferies tadpoles are acutely aware?
Best of luck on future projects,
The Dick Handler
Meredith Whitney is a fraud anyway – she gets all of her info from her old mentor on the buy side. Wonder why there is no Q&A on her conference calls, or it mysteriously never works.
Chopco for life – wait for more lawsuits to start rolling in for Opco. Bud is used to them – he needed to fire sales to fund his legal team.
http://www.nypost.com/seven/02102008/business/buds_under_fire_588446.htm
http://www.stockbrokerfraudblog.com/2008/11/massachusetts_top_securities_r.html
And thats just a few….
@5 Um, where exactly should M. Whitney go? To any of her competitors, which she analyzes and rightly thinks are sinking ships? And whose stocks she’s maybe helped tank? Can’t imagine a firm that’s throwing out the Welcome Mat to her… occupational hazard of being a bank analyst.
still, i’d pay to see her naked
@40
Yuk, you must be, like, ancient.
@40, I’d prefer Abbie Joseph
37 My sense is that he does in fact work at Jefferies, but at a level where you may not in fact know how to spell the name of the firm correctly. Sad but true.
@9
Go back to college, get your degree and then maybe you can find a position at a firm other than OPCO. Until then keep sorting the mail at 125 Broad and kissing Bud Lowenthals hairy ass.
all you fucking idiots who put down OPCO mus be unemployed assholes who are currently sitting on the couch playing with yourselves. Right about now you wish OPCO would consider hiring you.
@ 45 – or those who have moved onto greener pastures actually – just love to hate on what a chop shop it is and a bunch of low lives who run the firm. And if you are defending it then you must still be working there hating your life not being able to get a job elsewhere and just glad you have some shithole job to hang onto.
@ 46 – I feel sorry for losers like you who are unemployed. I love my life and love my job. So why not go and shove your hand up your ass, pull it out and then eat your own shit.
An acquaintance of mine at Oppenheimer asked for my brother’s phone number for tax advice (He’s an accountant).
The jerk cold called him trying to get him to push OPCO filth to his clients. That firm has zero ethics and a reputation to match.