Bess Levin

Posts by Bess Levin

  • 08 Jan 2015 at 12:34 PM

Layoffs Watch ’15: StanChart

standard charteredThe Standard Chartered equities business, and its staff, are packing it in. At least one guy, not among those being told to clean out his desk, has wondered aloud what the hell took them so long. Seriously, if it was him, he would’ve been passing out boxes and booking conference rooms for awkward conversations like a year ago. Read more »

money-showerAnd despite much talk that women are afraid to ask for more money, PayScale found a relatively small gender gap: 44% of men have requested raises, compared with 42% of women. And the breakdown of who received the full amount of the raise, a partial increase, or nothing at all was also roughly equal. Surprisingly, the largest disparity appeared for professionals with M.B.A.s. While 63% of male business-school graduates who asked for higher pay were granted those raises, only 48% of their female peers were. And 21% of the women got no salary hike at all, versus just 10% of the men. [WSJ]

  • 07 Jan 2015 at 5:36 PM

Bill Ackman Makes The Boldest Of Claims

This one doesn’t have to do with Herbalife, per se, but the sort of proclamations we’ve come to know and love from Bill re: Herbalife in general. Like that it’s going to (paraphrasing): be raided by the feds on an exact day, that his next presentation on the company will reveal where all the dead bodies are, literally, like he’s going to present the audience with some actual corpses, etc. Those sort of things, you can kiss good-bye. Ackman is sick of the heat he gets for them so no more. You blew it and this is why we can’t have nice things. Never again will he engage in big, splashy, public campaigns. Finished. Finito. 100% done. Well, okay, 98%. We’ve got to leave the door just the slightest bit ajar. Read more »

Galen MarshIn that conversation, Mr. Marsh conceded he had accessed the client information but maintained that he hadn’t posted any of it online or intended to sell the data, the people said. Morgan Stanley security officials then escorted Mr. Marsh to his home, where they took a computer and storage devices that also held client data. The firm is still investigating how Mr. Marsh allegedly transferred the data to his personal devices, the people said…Mr. Marsh studied at Muhlenberg College, where he played lacrosse and met his wife. He joined Morgan Stanley as a sales assistant in 2008 after spending several months at John Paulson ’s hedge-fund firm and then Bear Stearns Cos., the investment bank that sold itself to J.P. Morgan Chase & Co. during the financial crisis. [WSJ, earlier]

mag-06Talk-t_CA0-articleInlineOn this first matter, his firm returned over 40% in 2014. As for the second, sadly, it’s a secret for now. Read more »

tokyo_at_night-1440x900The Japanese apathy for sex is such a worry that their media even have a name for it: Sekkusu shinai shokogun, which translates to ‘celibacy syndrome’. However Japan’s incredibly low birthrate, which has shrunk over the past decade to be one of the lowest in the world, could mean that the country could soon not have a large enough population to support their economy. Being one of the world’s largest economies, a major dive in Japan’s financial security could easily affect the global economy, according to some experts. Japan’s dwindling birth rates are not the result of poor prenatal care or high child mortality, people there just don’t seem to be interested in marriage, having children, or even dating and casual sex. [Metro]

Galen MarshGalen Marsh was once a Morgan Stanley employee, working in wealth management. He became an ex-Morgan Stanley just before the New Year, when the bank discovered that he’d helped himself to information on about 1,000 clients and maybe tried to sell said information online. How is Marsh feeling about the situation right about now? For one, he, via his lawyer, would like to note that despite the clients’ names and phone numbers ending up on a website called Pastebin, he never “tried to sell or post the information online.” He just stole it, okay? And two, he’s just as, if not more gutted over what happened than the victims of his alleged crime. Makes him sick to his stomach. Ill just thinking about it. In fact, you know what? Put him down as a victim, too. He’s pretty much heartbroken. Read more »

billackmanpershingsquare“Excuse me, Mr. Ackman? Can I have your autograph?” It’s a rainy afternoon in early December, just outside Pershing Square’s offices. William Holmes, a recent college graduate with a degree in economics, is shivering in the cold, holding a notebook. “I’ve studied everything you’ve done,” the young man gushes. “You are like the Socrates of our time.” Ackman writes the kid a note. “I’m telling you, I have a huge fan base,” he says as the beaming young man walks off. Then he turns to head back up to work. [Bloomberg via Matt Levine]