Posted by guest , Feb 24, 2009 11:51AM

We don't like to use the term, "cuts". We prefer to use the phrase, "Unsolicited talent seeding".

~The HR Guy Who is Still Employed but is Seriously Considering Getting His Eyes Done

Posted by guest , Feb 24, 2009 11:52AM

Anyone know first year analysts' numbers?

Posted by guest , Feb 24, 2009 11:53AM

Is GS starting today or tomoorow?

Posted by guest , Feb 24, 2009 11:53AM

hearing there is a new letter out from BAC's Ken Lewis... any color would be appreciated

Posted by guest , Feb 24, 2009 11:54AM

Cutting a large portion of the analysts...who's going to be making the pitchbooks?!?

Posted by guest , Feb 24, 2009 11:55AM

A check for 5,000 pounds, a pat on the back and a "Don't let the door hit you in the ass on the way out...."......

Posted by guest , Feb 24, 2009 11:55AM

@5

http://blogs.wsj.com/deals/2009/02/24/bank-of-america-internal-memo-we-are-not-being-nationalized-okay/

Posted by guest , Feb 24, 2009 11:55AM

@4- tomorow

Posted by guest , Feb 24, 2009 11:57AM

ok i get the whole banking/gossip aspect of this site, but let me post you - wall street is downsizing, has been downsizing for a few months now. some banks are merging and there will be redundancies, others are cutting back staff or are just going away altogether. now back to madoff and fish

Posted by guest , Feb 24, 2009 11:58AM

Don't know why any one is surprised. Since no one is getting paid bonuses why bother having anyone other than Directors and Managing Directors since everyone cost the same ex-bonus.

Posted by guest , Feb 24, 2009 12:00PM

@11- who said anyone was surprised?

@10- jesus christ. it was all stanford last week, and it'll be mad and stan soon enough again. don't like a certain post? don't read it.

Posted by guest , Feb 24, 2009 12:05PM

@8 - holy crap, that WSJ comment thread is full of fail. Buncha day-trading retail idiots. Thank God for Dealbreaker commenters, who are at least relatively smart.

Posted by guest , Feb 24, 2009 12:08PM

W W W W W W W WIDECLOPSE!

Posted by guest , Feb 24, 2009 12:19PM

@13 - oh my. thank you so very much for pointing that out. wow. i'm dumbfounded.

i mean, at least they couldve classed it up with "first" or a "tl;dr"

Posted by guest , Feb 24, 2009 12:22PM

Fidelity Boston is cutting people right now. 15% of trading desk gone so far. No word on office in London

Posted by guest , Feb 24, 2009 12:35PM

@ 17, any detail on PMs and analysts?

Posted by guest , Feb 24, 2009 12:48PM

greatest example of retail commenters:

http://blogs.barrons.com/techtraderdaily

find any post pertaining to either apple or solar energy...my god - the crazies really come out for those.

Posted by guest , Feb 24, 2009 1:08PM

Bank of America CEO Ken Lewis gave the following quote regarding Bank of America’s financial position.: “Given our view of things, we do not expect to cut the dividend nor do we expect to have to raise capital. We get investors and analysts calling us saying, ‘You’ve got to cut your dividend because the market is saying you should cut your dividend.’ We’ve reminded them that the market over the short term is not always right.” Since that time, Bank of America has received over $45B in Federal bailout funding and BAC stock has dipped well below $5 per share from $44 per share a year ago.

Kool-aid anyone?

Posted by guest , Feb 24, 2009 1:09PM

Bank of America CEO Ken Lewis gave the following quote regarding Bank of America’s financial position.: “Given our view of things, we do not expect to cut the dividend nor do we expect to have to raise capital. We get investors and analysts calling us saying, ‘You’ve got to cut your dividend because the market is saying you should cut your dividend.’ We’ve reminded them that the market over the short term is not always right.” Since that time, Bank of America has received over $45B in Federal bailout funding and BAC stock has dipped well below $5 per share from $44 per share a year ago.

Kool-aid anyone?

Posted by guest , Feb 24, 2009 1:14PM

Bank of America CEO Ken Lewis gave the following quote regarding Bank of America’s financial position.: “Given our view of things, we do not expect to cut the dividend nor do we expect to have to raise capital. We get investors and analysts calling us saying, ‘You’ve got to cut your dividend because the market is saying you should cut your dividend.’ We’ve reminded them that the market over the short term is not always right.” Since that time, Bank of America has received over $45B in Federal bailout funding and BAC stock has dipped well below $5 per share from $44 per share a year ago.

Kool-aid anyone?

Posted by guest , Feb 24, 2009 1:21PM

that was very insightful and COMPLETELY NEW INFORMATION...all three times.

Posted by guest , Feb 24, 2009 1:40PM

9 thanks, keep up updated, I heard 15%

Posted by guest , Feb 24, 2009 10:18PM

Sorry for being late; now that we're blocked from work there's no way to update until home time. Which, is stil averaging midnight, compared to you fuckers in NY who are bailing at 5pm. Thanks, really boosts morale to be calling your deal team at 11pm to find that they've fucked off and you still have several hours left.

Anyhoo! Cuts went from first year analysts to senior associates today in several industry and product teams, although a few teams are delayed until tomorrow or end of week.

Severance apparently standard, 3 months "consultation" (keep company phone, apparently attempt to relocate) confirmed, rumoured another month gardening leave and another month severance if relocation is (inevitably) unsuccessful. So being paid to be free, whilst the poor kids left behind will be working our asses off for the next five months for the same, given bonuses are expected to be a book of Subway vouchers.

Jealous of the laid off bastards who get to wake up late tomorrow; at 3am these leaving drinks are starting to hit... laters