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Morgan Stanley: Something Something Something Up Front, Sweatshop In The Back

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Not surprising given that John Mack used to work at a Gap, but:

"MS bonuses- a few of the high visibility/revenue guys were up as much as 20 percent but, broadly, most YE bonuses were -10 percent vs. 2006 for those in the highest tier in terms of performance appraisal. This applies to wealth management."