Concern had spread among some of Merrill Lynch’s 15,500 advisers that they would face curbs like those imposed by the bank’s U.S. Trust unit, said the people. The policy bans associates who leave from soliciting the firm’s clients for eight months, starting with a two-month garden leave. The term refers to workers who are ordered to stay home after they give notice, leaving them little to do other than gardening. “Contrary to press and recruiter speculation, there are no changes coming from Merrill Lynch Financial Advisors on any type of garden leave,” Krawcheck wrote in a Feb. 25 memo, according to the people, who asked not to be identified because the matter isn’t public. “Please put that one in the circular file.” [Bloomberg]

27 comments (hidden to protect delicate sensibilities)
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Comments (27)

  1. Posted by D. Peterson | March 10, 2011 at 8:29 PM

    ..but first make sure your grower buys his equipment off of me. I’m trying to IPO here in less than 5 years.

  2. Posted by Farmer_Pickles | March 10, 2011 at 8:32 PM

    I’m not sure why, because she isn’t especially hot, but I have an urge to plow Sallie Krawcheck’s field right now.

  3. Posted by Guest | March 10, 2011 at 8:39 PM

    Despiration is a shitty marketing strategy…

    –Commitee for pointing out the obvious

  4. Posted by NakedShort | March 10, 2011 at 8:41 PM

    Tits or GTFO.

    Please put that one in the circular file Sallie

  5. Posted by Dr. Rosenrose | March 10, 2011 at 8:52 PM

    “Yep, even before the Boone’s this is as big as it got.”

  6. Posted by The Cosmopolitan Man | March 10, 2011 at 8:56 PM

    Plowing chicks for sport has always been the NKI

  7. Posted by Chip | March 10, 2011 at 9:05 PM

    Smoking is bad for you.

  8. Posted by BigR | March 10, 2011 at 9:07 PM

    Dumb Ass Slore! Someone take this skank out and ring its sorry neck. I have never seen such a dumb policy in my life. If I weren’t so busy taking out Jimmy to the G I’d have to take her on…..but I’m busy!!!!

  9. Posted by HeyNow | March 10, 2011 at 9:31 PM

    Obviously Sallie has something stuck in her kraw, she should check.

  10. Posted by Mr. Market | March 10, 2011 at 10:06 PM

    The rumor is that Sallie gardens quite meticulously

  11. Posted by Anonymous | March 10, 2011 at 10:07 PM

    I really, *really* do not want to find out.

  12. Posted by Mr. Market | March 10, 2011 at 10:13 PM

    In the picture above, she is indicating with her fingers to what length she gardens. Now you’ve found out.

  13. Posted by Guest | March 11, 2011 at 1:46 PM

    it moved.

  14. Posted by Lord Humongous | March 11, 2011 at 8:16 PM

    “Ken’s anal bead tail was only this long, thats why he is no longer in charge.”

  15. Posted by Lord Humongous | March 11, 2011 at 8:16 PM

    “Ken’s anal bead tail was only this long, thats why he is no longer in charge.”

  16. Posted by Lord Humongous | March 11, 2011 at 8:16 PM

    “Ken’s anal bead tail was only this long, thats why he is no longer in charge.”

  17. Posted by Lord Humongous | March 11, 2011 at 8:16 PM

    “Ken’s anal bead tail was only this long, thats why he is no longer in charge.”

  18. Posted by HalfEmpty | March 13, 2011 at 12:35 AM

    If Krawcheck and BOA are so great why do they have to use dirty legal tricks like Garden Leave to get people to stay. This amounts to nothing more than an unfair hamstring by management over labor.
    Why is “at will employment” a one way street, Bank can fire you immediately but you have to give them notice ?

  19. Posted by NoMorePlease | March 13, 2011 at 12:39 AM

    You are correct. We have moved from a period of “innovators” in the 70’s and 80’s to two decades of “cost cutters”. This sector is hollowing itself out. There was competition, then repeal of Glass Steagall and deregulation created an oligopoly. All innovators repalced by cost cutters. Then 2008 Credit crisi created a cartel. They have no other way to increase rpofitability since “cost cutting” is over. They now want to legislate indentured servitude.

  20. Posted by Guest | March 22, 2011 at 12:55 AM

    She should consult with Michael Rubinoff re the Nuveen strategy-how to lose $800 million in 3 years!!!

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