so that’s nice for them

Gone are the days of working until 2AM on an assignment. Staying only until midnight will be the new and exciting way of doing things. Read more »

The World Cup match between the U.S. and Belgium looks like a great case of timing the market. Today’s game is scheduled to begin just as regular stock trading ends at 4 p.m. in New York. Compared with the midday start for last week’s U.S.-Germany match, there should be fewer conflicts in the workplace while giving Wall Street watering holes an earlier jump on Happy Hour. “The timing couldn’t be more appropriate,” said Philip Blancato, the chief executive officer of investment adviser Ladenburg Thalmann Funds/USA on Madison Avenue in Midtown Manhattan. “We have a group from the company that’s going to head out at the end of the work day and go watch the game together.” [Bloomberg]

  • 23 Jun 2014 at 2:42 PM

Bonus Watch ’14: RBS

Royal Bank of Scotland execs are going to receive bonuses, even though the UK government owns 81 percent of the place and it has only earned a profit six out of a possible 24 times since 2008. So this is cause for excitement. Read more »

In case it was unclear already. Read more »

In related news, the bank is about to plead guilty to helping a whole lot of people avoid paying taxes and fork over $2.5 billion1 to the U.S. government. So, it’s a big day for the Swiss. Read more »

  • 10 Apr 2014 at 12:50 PM

Judge Shows Mercy On SAC Capital

$1.8 billion fine and not a penny more, probably. Read more »

For the ten SAC Capital employees who have been convicted of securities fraud over the last several years, the results of the government’s crackdown on insider trading are obvious: time in the big house, fines, and the dream of being being honored as a distinguished alumni of Stanford Business School dashed. For SAC founder Steve Cohen, too, the impact is clear: no more outside investors, a new layers of management– a cocoon, if you will– between him and his traders, and a giant metal ‘S’ ‘A’ and ‘C’, which once graced the wall of the firm’s lobby rendered completely useless.

For another group of people, though, the effect of multi-year investigation is less clear: the hundreds of SAC employees who did not engage in insider trading. Specifically, what having the hedge fund soon to formerly be known as SAC Capital on their resumés means for their professional lives and long-term career plans. Would it be the equivalent of a scarlet ‘S’ on their chests? Would hiring managers blow them off in a “seat’s taken” kind of way? Would they have to burn their fleeces and any other evidence of having once been associated with the firm? Would they stand in the shower scrubbing their skin raw in an attempt to get the SAC stench out, after a particularly unpleasant meeting with a potential employer who announced flatly that he could “still smell them on [you]“? Would they have to leave town, and start over in a place where no one had ever heard of SAC Capital? Read more »