Area Bank Employees To Strengthen Morale One Piece Of Deep Fried Chicken At A Time

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The very first time we wrote about a Food Eating Challenge (FEC), it was a a postmortem congratulations to a man named Oyster Boy. He'd consumed 244 oysters in 1 hour at Ulysses and he'd thrown the gauntlet down for one of you to pick up, vis-a-vis goring yourself for sport. We continued to chronicle them for reasons that don't take Wall Street's greatest minds to figure out: they're fun and if they're not mentioned on this here site well, it's like they never happened. We are also big believers in positive reinforcement, and on the rare occasions in which you people actually succeed at completing the task at hand, we like to give you props (alternatively, we believe in the value of telling you that you suck and sicken us when you fail, because we care). Mostly, though it's because they're just fun. It's fun to watch you gorge yourself for sport, and it's fun for your colleagues to offer obnoxious running commentary throughout the event, especially that one guy (you know who you are, and let me just say, you get it). The challenges are not typically used to pull financial services employees out of their existential funks but that doesn't mean they can't be. This week, one bank looks to the FEC.


As you know, morale here is extremely low. In an attempt to raise beaten spirits, on Friday, a colleague of ours is going to attempt to eat 85 Wendy's nuggets in 30 minutes with a 30 minute "no puke" clause at the end. With your help, we'd like to show Wall Street that we are far more than just guys who look at Miranda Kerr screen shots during inopportune times. The participant is a junior associate and will be draped in as much company swag as we can find.

Sure, Oyster Boy would probably do 100 but it’s been made pretty obvious that no one can soar to the heights of OB (prove me wrong). But that's fine, futile attempts to pick up the gauntlet thrown down by OB is not what this is about, or what's important. What's important is that the (successful) sight of this kid literally shoving fried food in his mouth, as fast he an chew and swallow or maybe just swallow is going to make his colleagues feel really good about themselves. On Friday who will join them? (Please be advised making this about "feelings" is not required for participation.) Do it an I might even consider bringing back The Sandwich Fairy.


Bank Of America To Fire A Bunch Of Employees Just For Fun

Actually, we don't know several dozen employees in  the bank's global markets unit in Asia are going to be fired, only that these cuts are not part of Project New BAC (the company's plan to save $8 billion by laying off 40,000), so "just for fun" is one possibility. Bank of America plans to cut about 40 jobs at its global markets unit in Asia, a person with knowledge of the matter said. The reductions aren’t part of the Project New BAC program announced last year to pare expenses, according to the person, who asked not to be identified because the matter is confidential and declined to provide additional details. Shirley Wong, a Hong Kong-based spokeswoman for the Charlotte, North Carolina-based bank, declined to comment. [Bloomberg]

Small-Time Crooks No Longer Welcome At Wells Fargo, Bank Of America

Richard Eggers knows what we're talking about. The former farm boy speaks deliberately, can’t remember the last time he got a speeding ticket, and favors suspenders, horn-rimmed glasses and plaid shirts. But the 68-year-old Vietnam veteran is still too risky for Wells Fargo Home Mortgage, which fired him on July 12 from his $29,795-a-year job as a customer service representative. Egger’s crime? Putting a cardboard cutout of a dime in a washing machine in Carlisle on Feb. 2, 1963. “It was a stupid stunt and I’m not real proud of it, but to fire somebody for something like this after seven good years of employment is a dirty trick when you come right down to it,” said Eggers of Des Moines. “And they’re doing this kind of thing all across the country.” Big banks have been firing low-level employees like Eggers since the issuance of new federal banking employment guidelines in May 2011 and new mortgage employment guidelines in February. The tougher standards are meant to weed out executives and mid-level bank employees guilty of transactional crimes, like identity fraud or mortgage fraud, but they are being applied across-the-board thanks to $1-million-a day fines for noncompliance...Bank of America has embarked on a similar firing binge to shed any employee convicted of a criminal offense involving dishonesty, breach of trust or money laundering, employment attorneys say. Wells Fargo fires Des Moines worker for laundromat incident 49 years ago [DMR]