Tags: Andrew Ross Sorkin, Fabrice Tourre, greed, insider-trading, insidious cultures of greed, Labaton Sucharow, SEC, surveys, Wall Street greed
Labaton Sucharow is a law firm whose business consists of getting disgruntled financial industry employees to sue their employees for various bits of naughtiness, and taking a cut of whatever money those disgruntled employees can get from a lawsuit or settlement. One of their clever marketing techniques is to hire a survey firm to identify financial services employees willing to talk shit about their employers on the internet,1 because those employees are a promising source of money for Labaton Sucharow. In fact only about a quarter of those employees actually have anything negative to report, and presumably not all of that is lawsuit-worthy, but marketing is hard and you shouldn’t expect a particularly high hit rate. The trick is to just get a lot of at-bats and something will eventually pan out.
Also the PR is amazing? Here is an Andrew Ross Sorkin column titled “On Wall St., a Culture of Greed Won’t Let Go” that sort of takes this survey as a fact about the world rather than a marketing document, so is all like “oh you and your greed, Wall Street!” Read more »
Tags: BlackRock, Charlie Gasparino, executive suite players, friends of Charlie Gasparino, Larry Fink, surveys, Treasury Secretaries
“My survey of Wall Street executives [shows] Jack Lew in the running for this job…They think that he’s the most likely guy to be Treasury Secretary at least that’s according to the people I talked to: major Wall Street CEO’s and executive suite players that I deal with…The other guy that’s out there is Larry Fink CEO of BlackRock. I will say this, Larry Fink is a guy I know very well. I consider him a friend. The upside to Larry is clearly that there is no smarter guy on Wall Street that I know right now. He really understands the business…I think Larry wants the job. The negative is that he is really associated with the Wall Street crowd. That is something that I don’t think the Obama administration would go for.” –Charles Gasparino, close personal friend of Larry Fink [FBN]
Tags: "commercial means", "shoes", flippie-floppies, Harvard Business School, I went to Harvard...y'ever heard of it?, MBA v CFA, one night stands, surveys
For its 25th reunion last year, the members of Harvard Business School’s class of 1986 were asked to fill out an 85 question survey to give their former classmates a picture of where life has taken them since the gang parted ways. In addition to standard queries like “how much money are you making” (median annual net income: $350,000, median personal net worth: $6 million), “did you start a business” (36 percent said yes), “was choosing to attend Harvard Business School the best decision you’ve ever made” (48 percent responded that it was “one of the best decisions of my life,” 1 percent boldly claimed “it was not a particularly productive use of my time or money”), and how many times have you been laid-off and/or fired (4 percent have been “involuntarily dismissed” three times, 13 percent twice, and 47 percent once) the questionnaire writers dug quite a bit deeper to find out that: Read more »
Tags: affairs, mothers, secretaries, statisitics, surveys
According to a new study, the results of which are somewhat suspect, among the seventy-two percent of bankers who’ve supposedly had an affair, 63 percent of the males “said that they were convinced their wives knew about their affairs,” versus 3% of female bankers who said the same of their husbands. Here are a few other details respondents got off their chests: Read more »
Tags: admiration, Goldman Sachs, have a little pride, respect, Self-esteem, surveys
Just asking as a friend and someone who’s worried. Goldman Sachs has everything going for them– looks, money, huge dicks, a restraining order against a Rolling Stone reporter– but it seems as though there’s a serious crisis of confidence going on, based on a little survey sent out by the bank, requesting “feedback” from “a select group of our stakeholders.” At first it appears pretty standard– questions about how well clients are serviced compared to other banks, etc. But then things take a turn. The Masters of the Universe want to know what you tell your friends and co-workers about them asking, for instance, would you “go out of your way to recommend us” to a co-worker looking for a gig or would you “never recommend us”? Whereas you’d think Goldman would and should assume everyone loves them, those surveyed are asked not just whether or not they “admire” the firm but if they “respect” as well (when you have this little self-confidence you need to drill down on the difference), or alternatively, if they have zero respect/admiration. Did you read the annual report? Or can you “not remember” if you had a chance to look it over, since it was so unremarkable GS wouldn’t blame you if you could not recall?
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