…per the instructions enclosed in a letter sent out by CEO Richard Handler and Chairman Brian Friedman. The short version: Treat junior level employees like they are humans and not life-sized pieces of garbage. The longer version: Read more »
Get Ready To See A Lot More Instances Of Jefferies MDs Sidling Up To Analysts And Awkwardly Asking, “Soo…You From Around These Parts?”By Bess Levin
Fresh off the greatest Ice Bucket Challenge of all time, Richard Handler threw his clothes back on and raced to the office to put the finishing touches on Jefferies’ third-quarter results, which he expects you’ll be suitably impressed by. Read more »
Like all amazing movies, miniseries, other works of art, the clip of Richard Handler accepting and taking part in the ALS Ice Bucket Challenge is a slow burn to an amazing finish. Oh, to be sure, it starts out leaps and bounds ahead of any other videos of its kind: that is, in Handler’s penthouse bathroom, in front of his jacuzzi. It’s just that at every turn, it gets exponentially better, in ways you can’t imagine, ’til you’re at the end and saying to yourself, “This is one of the most amazing things I’ve ever seen.” Obviously, this must be watched in full, many times over the course of the day and possibly on loop and in place of whatever your firm is showing in TVs throughout the building. But, if we might, here are our favorite moments:
:01: We’re in Richard Handler’s bathroom. Why is that? Most of the head honchos taking part in this challenge (Marissa Mayer, senior execs at JP Morgan, etc) take the plunge on the street in front of their company or in someone’s backyard. No matter, here we are, in Richard Handler’s bathroom.
:05: Handler is narrating this video in his boxers and an old tee-shirt.
:12: He lays out the rules, we’re still in his bathroom.
:56: He nominates Carl Icahn to take the challenge, and Icahn’s wife to dump the ice (Icahn later takes to Twitter to say he’s too god damn busy.)
1:15: He starts ripping open plastic bags of ice and dumping them into the tub. It takes a while, because, again, he’s doing the challenge 1) in a jacuzzi and 2) in a jacuzzi that looks like it can seat 7. “It’s a lotta ice,” he tells the camera.
2:02: Even though he just dumped 8 or 9 bags of ice into the tub, he dumps a hotel-style wicker ice bucket into the bath, just for good measure. Read more »
Judge Rules Jefferies Should’ve Just Chilled After Senior Equities Exec Sent Around Video Depicting Jamie Dimon As HitlerBy Bess Levin
Jefferies Group LLC wrongfully fired its former Asia head of equity trading Grant Williams over a newsletter that included a reference to a Hitler parody video, a Hong Kong judge ruled. Williams drafted a newsletter to subscribers which included a link to a video clip depicting Adolf Hitler, with subtitles created by a U.S. filmmaker that mocked JPMorgan Chase & Co. Chairman and CEO Jamie Dimon. The newsletter was released prematurely and Jefferies fired Williams the next day for unacceptable and inappropriate conduct, according to the judge. Jefferies management was “hypersensitive” and “irrational,” in its response to the publication of the Dec. 7, 2010 client newsletter, Judge Conrad Seagroatt said in issuing his decision today in Hong Kong’s High Court…The YouTube Inc. parody video clip uses a scene from the 2004 German movie “Downfall” showing Hitler screaming at his subordinates at the end of the war. Subtitles suggested Hitler’s character was Dimon, speaking in the context of bets on the price of silver. [Bloomberg]
Jefferies Chief Executive Officer Richard Handler said he sued to stop construction of a roof deck across the street from his Tribeca apartment on behalf of his neighbors, according to an e-mail to employees. “I took the lead to help our neighborhood oppose what we know will be a major nuisance and disruption to our lives,” Handler, 51, said in the March 31 correspondence, the contents of which were confirmed by a Jefferies spokesman. “You can be assured we are not going after the city in any way and are only asking for their help in dealing with a huge potential problem.” Handler told employees he wrote the e-mail to apologize for “recent distractions in the media concerning me,” including stories that portrayed him as a “tone-deaf one-percenter.” [Bloomberg]
We* don’t really find it particularly amusing amusing or post-worthy that a Jefferies employee misguidedly put Jamie Dimon on an email about a working group list but judging by the number of people who’ve sent it to us, this is the height of banking humor, so here you go: Read more »
Until recently, being chief executive officer of Jefferies was an exercise in getting shit on. As the man in charge for the last 13 years, Richard Handler has had to put up with a lot of hurtful remarks that, while nothing to the person tossing them off, undoubtedly stung quite badly. “Third-tier bank.” Place “I wouldn’t let my maid’s kid work.” “Poor man’s Morgan Keegan.” So you can imagine that after a string of victories over the last several months that included getting involved in the slaughterhouse business and paying all-cash bonuses unlike some people, Handler and Co. would be feeling pretty good about themselves and that after announcing to the world they were getting paid more this year than their counterparts at big kid banks, they’d be feeling REALLY good about themselves. That payday, however, did not go over well when input into Moody’s proprietary just-make-it-up credit-rating model, and now Handler’s plan to gather everyone up to watch as the board shoots his compensation out of a tee-shirt gun in hundred dollar bills is completely ruined.* Read more »