As you may have heard, following the middle of night raid on Zuccotti Park by the NYPD, Occupy Wall Street protestors kicked things up a notch Thursday, with full-scale gatherings in downtown Manhattan, a rally outside the stock exchange and a march back to the Brookefield-owned place they call home. Things escalated quite quickly, with officers reportedly punching protestors (and journalists), sealing off the park and making arrests inside and, apparently, bloodying one man’s face and possibly also removing his pants, for some reason. One guy not affiliated with the police but who also had a bit of a confrontation with the demonstrators chose a less violent, more effective tack to get his point across. Read more »
Deutsche Bank
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Drinks
Wall Street Protests 2011: Snapple Guy Doesn’t Take Shit Or Prisoners
By Bess LevinThis Europe Crap Is Throwing A Wrench In Josef Ackermann’s Plans To Be Out Of The Office Every Day By 5 This Year
By Bess Levin
Deutsche Bank said Monday that the bank’s Chief Executive Josef Ackermann won’t take over as chairman of the supervisory board when he steps down in May, and it is proposing Allianz SE financial chief Paul Achleitner for the position instead. Citing “extremely challenging” conditions on the international financial markets and in the political-regulatory environment,” Mr. Ackermann said he must focus on his tasks as CEO right now, according to a statement from the bank. This means he can’t spend time seeking the support of shareholders for his bid to be supervisory board chairman. Supervisory board candidates need the support of 25% of the shareholders to be elected. A person familiar with the matter told Dow Jones Newswires that Mr. Ackermann didn’t have the time do the necessary lobbying and couldn’t win their backing. Another person familiar with the matter said: “It became obvious that Ackermann couldn’t secure this.” [WSJ]
The Germans said this morning that 1) employees will face the ax if the “environment” doesn’t improve a-SAP 2) these cuts would be on top of those previously announced and 3) have you ever wondered why DB hasn’t had to announce that it’s letting go of 20 or 30 or 40,000 people? According to Stefan Krause it’s because the bank has been “proactive” about cutting staff, doing a little bit each day so it’s not overwhelming. Read more »
Well, okay, it wasn’t exactly a layoff in the strictness sense of the word, more like an entirely voluntary resignation by Rick Perry’s son from his job at Deutsche Bank so he could go campaign with dad, but Momma Perry interpreted that as Griffin Perry ‘losing’ his job thanks to that damn Obama guy [shakes fist] so just go with it. Same diff/no diff. Read more »
The Germans are ‘considering’ saying good-bye to 500 non-Germans. Read more »
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Posted in:
Banks
Deutsche Bank Reminds Employees Of Their Rights When It Comes To Being Strapped Down And Forced To Take A Polygraph Test
By Bess Levin
Posted on the trading floor: Read more »
Remember last week, when Deutsche Bank said a report they plan to save between 1 billion euros ($1.43 billion) and 2 billion euros a year and “win market shares” by purging employees was total BS? According to CEO Josef Ackerman, it’s more like 50 percent BS/50 percent not so much BS. Read more »
The Germans would like to put it out there that they have no plans to “win market shares” by purging employees, despite reports suggesting otherwise. Read more »
She can blow a park bench through the windows of the New York Fed, flood all of downtown Manhattan and rustle the papers on Maria Bartiromo’s desk but come Monday morning? That bell is getting rung. Read more »
More Germans Express Opposition To Financial Speculation; Views On Naked Mud Wrestling Unclear
By Matt Levine
Der Spiegel is nothing if not fair: after letting George Soros talk about dirty little Eurobonds last week, this week they gave space to those who think that people like Soros should be hunted with high powered rifles from airplanes: Read more »
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