tough breaks

  • 01 Jul 2014 at 12:59 PM

Some World Cup Games More Important Than Others

US-based BNP Paribas employees learned that the hard way. Read more »

  • 05 Jun 2014 at 10:30 AM

Layoffs Watch ’14: Goldman Sachs, Etc

“Etc” being banks where “trading revenue [has] plunged,” which seems reasonable. Read more »

  • 20 Mar 2014 at 4:08 PM

Layoffs Watch ’14: Deutsche Bank

Zee Germans are mulling over cutting their own, at all levels. Read more »

  • 03 Jun 2013 at 3:39 PM

Layoffs Watch ’13: UBS O’Connor

UBS’s O’Connor LLC, the Swiss bank’s hedge fund that provoked the ire of many an employee last March, when it treated them like regular old UBS employees come pay day, causing them to “contact other hedge funds and recruiters” to explore options, has followed up its last act with one entitled “Don’t let the door hit you on the way out.” Read more »

In 1984, when he was a junior at Horace Greeley High School, in affluent Chappaqua, New York, he wagered his father $2,000 that he would score a perfect 800 on the verbal section of the S.A.T. The gamble was everything Ackman had saved up from his Bar Mitzvah gift money and his allowance for doing household chores. “I was a little bit of a cocky kid,” he admits, with uncharacteristic understatement. Tall, athletic, handsome with cerulean eyes, he was the kind of hyper-ambitious kid other kids loved to hate and just the type to make a big wager with no margin for error. But on the night before the S.A.T., his father took pity on him and canceled the bet. “I would’ve lost it,” Ackman concedes. He got a 780 on the verbal and a 750 on the math. “One wrong on the verbal, three wrong on the math,” he muses. “I’m still convinced some of the questions were wrong.” [Vanity Fair]

For the last year or so, Morgan Stanley CEO James Gorman has sent a simple message to employees grumbling about compensation: STFU or GTFO. Now, according to Charles Gasparino, the bank may be telling a few employees to GTFO regardless of whether or not they’ve been bitching about pay. Read more »

  • 11 Dec 2012 at 4:33 PM

Layoffs Watch ’12: Deutche Bank

Cuts are said to have gone down at the other DB. Read more »