Have you been dying to work under Meredith Whitney but hadn’t heard of any openings at the firm? Now’s your chance! As you may have heard, Whitney is starting her own ratings agency and has applied to become a Nationally Recognized Statistical Ratings Organization (NRSRO. Fortune‘s Katie Benner has some of the details, including a presentation of the biz submitted to the SEC. Apparently there are many opportunities for candidates– MW expects that she’ll hire 200 people in the first year and grow to 650 by year three. On dollars and cents, Whitney says she’ll pay analysts $225,000 a year (to top Moody’s $212,200). Inquire today. Continue reading »
jobs
“I will paraphrase the email with a Lil Wayne lyric which is ‘throw dirt on me and grow a wildflower’ but it also said some stuff about Credit Default Swaps”
By Bess LevinThis is a rambling, anonymous, first-person account of one guy talking his way out of a job at Morgan Stanley. It starts with him finding some MS chick’s cell in a cab, reading the text messages between her and her married boss (with whom she was having an affair), returning the phone, asking to send a resume, interviewing, not being patient enough to wait and hear he got the job, cursing the adulteress out over email and being told to seek professional help. It’s oddly hypnotic. If you’ve ever been in a similar situation, do share. [PRR]
“There are obviously very severe economic and social consequences from this level of unemployment,” Bernanke said at an event hosted by Ohio State University’s Fisher College of Business. “So getting new jobs, getting unemployment down is of an incredible importance.” [Reuters]
The gang.
A few months ago there was a tear-jerker of a story about unemployed Americans having difficulty finding new jobs. It highlighted two in particular, who’d been out of work for over a year, due to the shuttering of their company. Their names were Mark and Andy Madoff and they were having a real tough go of it lately. Nobody wanted to hire them out of fear they’d stink up the place with the smell of fish. And, you know, the taint of their former employer. It was depressing as shit, and Mark had taken to crying during interviews. Recently, Andy, along with his girlfriend Catherine Hooper, started a ‘disaster recovery firm,’ the goal of which is to help people get their affairs in order in the event of a crisis, be it natural or the kind that comes at the hands of a small dick, like losing everything to a Ponzi scheme (just a for instance!). Then there was Mark, who had all but given up asking people to keep him in mind for jobs on a trading desk or in trading technology. By this point even the fish were gently suggesting he pack it in– but the little Madoff that could would not be defeated. And finally, his persistence has been rewarded! Continue reading »
On the popularity Undercover Boss, wherein CEO’s of various companies “slip into the ranks” of their company alongside entry level employees to get a little taste of how the other half of their firm lives, Vikram Pandit has been nominated to appear on an episode of the show. Obviously, seeing Pandito pose as a first year analyst would be phenomenal, and a thrill for the bank’s junior rainmakers. There would be night-before jitters, of course, and it’d be hard to watch Uncle Vik sweat as he gets reamed out for screwing up his first pitch book, but clearly that’d be part of the fun. Unfortunately, it’s unlikely that VP will accept the offer, unless he’s directed to do so by Prince Alwaleed as part the new mandate for 2010 (Operation Make This Thing Work). Rest assured we’re working on it, but in the event Vikram chooses to remain ensconced in his zen garden-less office, who would you like to see cast on the show? Lloyd Blankfein rank and filing with the mini-Squid? Stevie mixing it up with the back office and later, forced to make an important decision? Lenny Dykstra reporting for duty as a junior trader at Nails Investment Corp? Ken? Jamie? Cliff? And what do you want them to have to do once they’re when they’re down there? No wrong answers on this one.
Here at Dealbreaker, we considered going all-SAC, all-the-time today. There’s nothing we like better than to dissect, parse and analyze salacious and possibly totally unfounded allegations, even at the risk of making the Big Guy mad.
But there’s other stuff going on, boring though it might be. Jobs figures, for instance, which always seem to send everyone into a frenzy.
Especially when it’s “good” news. To wit: Employers canned just 11,000 people last month, less than one-tenth the number expected and fewer than in any month since 2007, when we still had an economy. Even better news: A handful of the unemployed have just given up looking for work, helping nudge the unemployment figure down two-tenths of a percent to 10%. Those of us suckers who are actually working about 12 minutes more per week, too! Bully!
It’s not clear that he’s going anywhere any time soon though Dick Bové has already stamped her seal of approval on Jamie Dimon’s nomination for the Treasury Secretary’s replacement. But, the analyst cautioned, while JD is hands down the best man for the job,* and Obama wouldn’t be out of line simply locking TG out of the building and turning his office over to JD, the president must go about getting rid of Geithner carefully. Jazzy Jeff-style, while tempting, is not going to cut it. Firing Geithner requires a gentler touch, and a glowing letter of recommendation.
“The president must support his secretary and at the same time figure a way to ease him out of his position,” the analyst explained. “So what is the solution? Clearly Mr. Geithner must, at some point in the next few months, be moved to a very prestigious position outside the Treasury.”
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