Sort of a trick question since, as you all know, banks haven’t held firm-wide holiday parties in quite some time but if they did, is that what we could expect? Based on recent reports about a new approach James Gorman is taking with his staff, yes.

When Morgan Stanley’s top executives gathered in mid-September at the Gramercy Park Hotel in Manhattan to discuss strategy, some participants complained that the room was too small. Apparently, that was the point: James P. Gorman, Morgan Stanley’s chief executive, chose the cramped quarters to force discussion among the executives, said people briefed on his decision but not authorized to speak on the record.

Employees will get room to stretch their shit out when they’ve earned it!

Deep Cuts Raise Questions About Morgan Stanley [Dealbook]

18 comments (hidden to protect delicate sensibilities)
Show all comments ↓

Comments (18)

  1. Posted by Guest | January 10, 2013 at 2:29 PM

    Gorman's approach is utterly nonsensical. There is doubtlessly satisfaction to be drawn from the fuck these mollycoddled bankers and their expectations of pay and perks crocodile dundee bullshit, but the basic fact is that well run desks bring in eye watering sums (even if restricted to flow) and others are willing to pay to play.

    If you're going to get the fuck out, get the fuck out, don't trim 1600 and leave behind the under resourced and incompetent.

  2. Posted by casualobserver | January 10, 2013 at 2:30 PM

    “We are not going to pull a UBS,” the senior executive Colm Kelleher told a private dinner of Morgan Stanley shareholders at Oceana restaurant in Midtown Manhattan.
    -we are bleeding cash and cutting opex, but lets not get crazy here and downsize the 2007 bull mkt oppulent dining practices.

  3. Posted by Beautiful Existence | January 10, 2013 at 2:36 PM

    This stall's occupied.

  4. Posted by Fat Cat | January 10, 2013 at 2:39 PM

    Do people still read Dealbreaker? I switched to Zero Hedge a couple of years ago

  5. Posted by guest | January 10, 2013 at 2:44 PM

    Your reading and commenting on Dealbreaker really drives home that point.

  6. Posted by Guest | January 10, 2013 at 2:45 PM

    I only read DB for the comments

    – Guy who buys Playboy for the articles

  7. Posted by Guest | January 10, 2013 at 2:46 PM

    and exactly how many people did you have in that room?

    – Fire Warden

  8. Posted by SpareSquare | January 10, 2013 at 2:56 PM

    Do you have a square to spare?

  9. Posted by Guest | January 10, 2013 at 3:12 PM

    ___ _____
    .'/,-Y" "~-.
    l.Y ^.
    / __
    i ___/" "
    | /" " o !
    l ] o !__./
    _ _ .___./ "~
    X / ___./
    ( ___. _..–~~" ~`-.
    ` Z,– /
    __. ( / ______)
    l /—–~~" /
    Y /
    | "x______.^
    j Y

  10. Posted by Senator Craig | January 10, 2013 at 3:15 PM

    This one isn't!

  11. Posted by Guest | January 10, 2013 at 3:15 PM

    As long as all the stalls have circular holes in the dividers, we should be bangarang!

    -MS Glory Quant

  12. Posted by RAWR! | January 10, 2013 at 3:46 PM

    Rawwwwrr! Leave this place never to return! Rawwwwr!

  13. Posted by Bernie Bickers | January 10, 2013 at 4:51 PM

    Looks like the room won't feel so crowded next year…

  14. Posted by Dundee | January 10, 2013 at 5:11 PM

    This was all a cultural misunderstanding. Gorman comes from a family of 6 kids growing down under. So, this was actually having a comfort food for him.

    MS Cultural Awareness Champion.

  15. Posted by guest | January 10, 2013 at 5:36 PM


  16. Posted by St. Copious | January 10, 2013 at 5:43 PM

    "eye watering" indeed. stock has been range-bound for 4 years, and down 60% in 5 years.

  17. Posted by sohbet | May 12, 2013 at 6:25 PM

    telling these little stories, here's a good idea: Have a point. It makes it so much more interesting for the listener.

  18. Posted by sohbet | July 8, 2013 at 9:23 PM

    officers to investigate Blackstone's fishy financial transactions, but they wound up giving them