Morgan Stanley Exec "Accidentally" Stabs Cab Driver After Difference Of Opinion Re: Fare

William Bryan Jennings is the co-head of North American fixed-income capital markets at Morgan Stanley, though his responsibilities have been passed onto a coworker for the time being until a particular matter is "resolved." That matter would be a cab ride he took on the evening of December 22, which resulted in Jennings being charged with "second-degree assault, theft of services and second-degree intimidation based on race or bigotry." At present, there are two conflicting stories about what happened. According to the cabbie, Jennings was driven from Manhattan to his home in Darien, CT, at which point he refused to pay the $200 cab fare and instead began "threatening the driver and using racial slurs," before intentionally stabbing the guy's hand with a "pen knife" that he "uses for fishing." According to Jennings' lawyer, upon arriving at in Connecticut, WBJ, who colleagues have described as the "nicest guy you'll meet," was appalled to learn of the "exorbitant amount" the driver was charging (which WBJ claims had been upped to $300). After refusing to pay, the driver supposedly told Jennings he was "going to take him back to the city," at which point Jennings pulled out the pen knife he had on him and "demanded to be let out of the car because he was fearful for his safety," cutting the driver who WBJ "did not intend to hurt" after he put his hand through the dividing window. Jennings' lawyer has 1) denied the racial slurs and 2) said it's “mind-boggling" that his client was charged and not the other way around (though, according to reports, the driver called the police at 12:30am to report the incident, and Jennings never did). As none of us were there at the time, we should refrain from speculating as to which half of the he said/he said is telling the truth. Though clearly there are a couple of important takeaways here, including but not limited to the fact that if one is going to snub the Metro North, one should expect to pay, figuratively but more so literally. Manhattan to Connecticut? I've had rides from the UWS to Midtown East cost upwards of $40. Let's not do this dance.
Author:
Updated:
Original:

William Bryan Jennings is the co-head of North American fixed-income capital markets at Morgan Stanley, though his responsibilities have been passed onto a coworker for the time being until a particular matter is "resolved." That matter would be a cab ride he took on the evening of December 22, which resulted in Jennings being charged with "second-degree assault, theft of services and second-degree intimidation based on race or bigotry." At present, there are two conflicting stories about what happened.

According to the cabbie, Jennings was driven from Manhattan to his home in Darien, CT, at which point he refused to pay the $200 cab fare and instead began "threatening the driver and using racial slurs," before intentionally stabbing the guy's hand with a "pen knife" that he "uses for fishing." According to Jennings' lawyer, upon arriving at in Connecticut, WBJ, who colleagues have described as the "nicest guy you'll meet," was appalled to learn of the "exorbitant amount" the driver was charging (which WBJ claims had been upped to $300). After refusing to pay, the driver supposedly told Jennings he was "going to take him back to the city," at which point Jennings pulled out the pen knife he had on him and "demanded to be let out of the car because he was fearful for his safety," cutting the driver who WBJ "did not intend to hurt" after he put his hand through the dividing window. Jennings' lawyer has 1) denied the racial slurs and 2) said it's “mind-boggling" that his client was charged and not the other way around (though, according to reports, the driver called the police at 12:30am to report the incident, and Jennings never did).

As none of us were there at the time, we should refrain from speculating as to which half of the he said/he said is telling the truth. Though clearly there are a couple of important takeaways here, including but not limited to the fact that if one is going to snub the Metro North, one should expect to pay, figuratively but more so literally. Manhattan to Connecticut? We've had rides from the UWS to Midtown East cost upwards of $40. Let's not do this dance.

Darien Man Charged With Hate Crime [Stamford Advocate]
Investment banker charged with hate crime in Conn. [AP]
Banker charged with cabby stabbing put on leave [NYP]

Related

Morgan Stanley Exec Who "Accidentally" Stabbed Cab Driver After Difference Of Opinion Re: Fare Gets Off (Update)

Remember William Bryan Jennings? To recap, he's the Morgan Stanley executive who last December had a cab take him home to Darien, Connecticut from Manhattan and, according to the driver, refused to pay the $200 fare and instead began threatening the guy with racial slurs before intentionally stabbing his hand with a pen knife. According to WBJ's lawyer, the stabbing did happen but it was by accident and Jennings only pulled out the knife he had on him because he was "fearful for his safety" and "did not intend to hurt" the driver. The two parted ways around midnight, at which time Jennings went to bed and the cabbie called the police, who had trouble identifying WBJ until they got a lucky break with video footage from the deli on 10th Avenue he asked the driver to stop at for snacks on the way to CT. Anyway, Jennings, who was placed on leave from Morgan Stanley in March, was set to appear in court on Monday but then this happened: Connecticut prosecutors will not pursue charges against a top Morgan Stanley banker accused of stabbing a cabby in a drunken, racist rage over a fare from Manhattan, the cabby’s lawyer said yesterday. The decision to let W. Bryan Jennings off the hook has left the cabby “outraged,” his lawyer said. Jennings, from the ritzy Gold Coast town of Darien, had originally been charged with assault, theft of service and intimidation based on race or bigotry after the December 2011 incident. But Hassan Ahmad, the lawyer for cabby Mohamed Ammar, said Stamford prosecutors have told him they’re dropping the case...Jennings’ lawyer would not comment, and the State’s Attorney’s Office in Stamford could not be reached. No word on whether or not there's still a place for him at the House of Gorman. Earlier: Morgan Stanley Exec “Accidentally” Stabs Cab Driver After Difference Of Opinion Re: Fare

Morgan Stanley Exec Maintains Innocence Re: Stabbing Cab Driver

William Bryan Jennings, the co-head of North American fixed-income capital markets at Morgan Stanley who is currently on leave, appeared in court today (wearing "a blue suit, white shirt and patterned tie") to plead not guilty to assault and hate-crime charges. Those charges would be the ones that resulted from an incident in which he took a cab from Manhattan to Connecticut (with a fateful stop for snacks), got into a dispute with the driver over the fare, and "accidentally" stabbed the guy with a pen knife. According to Bloomberg, following the plea, WBJ and his lawyer "drove away in a pickup truck."

In Wake Of Exec "Accidentally" Stabbing A Cab Driver, Morgan Stanley Insists You Ask, "What Would The Post Say?"

A year ago this Friday, a Morgan Stanley banker named William Bryan Jennings attended a couple holiday parties, drank a few Coors Lights, and around 10:30PM hailed a cab and asked the driver, Helmy Ammar, to take him home to Connecticut. On the way, a hungry WBJ requested they stop at G&G Deli off 10th Avenue, where he bought "a 20 oz. bottle of Aquafina water, a sandwich and some Burger King cheesy fries." As the cab entered approached Jennings' hometown of Darien, a dispute reportedly broke out as to what the fare for the ride would be. Ammar claims that they'd agreed on $204 before leaving Manhattan, but once in Connecticut, Jennings said he'd only pay $50. Jennings claims that Ammar jacked the price up to $300 and was unhappy when the banker offered $160. Another matter of he said/he said is whether or not Jennings started shouting racial slurs at Ammar and told him, "I'm going to kill you. You should go back to your country!" (Jennings denies this happened and says that Ammar locked the doors and wouldn't let him out of the cab.) The one aspect of the story that is not in dispute is that as tensions flared, WBJ whipped out a pen knife he had in his pocket. For those of you reading from Morgan Stanley, this is where the teachable moments occurs: if you ever find yourself in a situation wherein you're winding up to stab a cab driver in the hand, stop and ask yourself, "Is this going to look bad in the Post tomorrow morning?" Jennings did not and now this is happening:

Connecticut Resident Takes Road Less Traveled In Refusing To Pay Cab Fare (Update)

While Charles Martin, too, passed out in the back of his taxi on the ride home, like his brother in arms, upon coming to he merely questioned the sexuality of the officers on the scene before threatening what would happen if they came any closer. A city man with more than $1,300 in his pocket was charged Thursday morning with trying to snub a taxicab driver out a $43 fare, police said. Charles Martin, 35, of 15 School St., Norwalk, was charged with sixth-degree larceny and resisting arrest and was held in lieu of $1,000 bond. Norwalk police Sgt. Lisa Cotto said a Stamford cab driver showed up at police headquarters just after 3:30 a.m. Thursday complaining that he had a man in his cab refusing to pay the fare from the Stamford train station to the man's School Street home. When police went to the cab, Martin was asleep and appeared drunk, telling them to leave him alone, Cotto said After he was arrested, police found $1,353 in cash in his pocket, Cotto said. Unhappy with being arrested for trying to stiff the cabbie, Martin allegedly warned the police officers -- who he also said were gay -- what would happen when they removed the cuffs from his hands. No word on what that was but odds it involved a pen knife are high. Cops: Man with $1,300 in pocket refused to pay $43 cab fare [Stamford Advocate] Related: Banking Exec Maintains Innocence Re: Stabbing Cab Driver

Layoffs/Bonus Watch '12/13: Morgan Stanley

Back in January, Morgan Stanley CEO James Gorman sent a simple messages to his employees, who had been grumbling about their pay: STFU or GTFO. "You're naive, read the newspaper, No.1," Gorman told Bloomberg he would say to any members of his staff that wanted to give him lip about their compensation to his face. "No. 2, if you put your compensation in a one-year context to define your over all level of happiness, you have a problem which is much bigger than this job. And No. 3, if you're really unhappy, just leave." Today, in an interview with the FT, Gorman reiterated his stance and added that in addition to reducing compensation for current employees, the bank will likely be drastically cutting pay for future analysts. If anyone has a problem with that, consider applying for a gig at Bank of Mythical Pre-Crisis Era Bonuses. Alternatively, Gorman is happy to discuss a compensation plan in which you'll be awarded shares of his foot in your ass, which vest immediately. In the latest sign of the pressure Wall Street is under to cut costs and address high pay levels, James Gorman, chief executive, said that staff and remuneration would have to be sacrificed as banks cope with lower profits. “There’s way too much capacity and compensation is way too high,” Mr Gorman said in an interview with the Financial Times. “As a shareholder I’m sort of sympathetic to the shareholder view that the industry is still overpaid.” Morgan Stanley itself is already axing 4,000 jobs, 7 per cent of its workforce, by the end of this year. In the new year, Mr Gorman said, the bank will consider its next round of cost-cutting, including lower pay and bonuses. News of further pay cuts, including potentially for new entrants at the investment bank, comes just weeks after Goldman Sachs confirmed it was overhauling its well-known entry-level programme for analysts. Goldman was said to have tired of the number of analysts in the programme who left the bank for hedge funds. Mr Gorman said that Morgan Stanley will probably keep its own analyst programme, but pay could be reduced significantly. Morgan Stanley Chief Warns On Wall Street Pay [FT] Earlier: James Gorman To Employees: STFU Or GTFO

Guy Who Was Fired By Goldman Sachs For Amassing "Inappropriately Large" Position Welcomed With Open Arms At Morgan Stanley

Back in December 2007, things weren't going so well for Matthew Marshall Taylor. He'd just been fired from Goldman Sachs and not only was he out of a job, but his prospects for finding a new one didn't look so hot, on account of the fact that Goldman planned to put a note in his file detailing the reason he'd been let go-- "for building an 'inappropriately large' proprietary trading position"-- and it seemed unlikely anyone at the firm would be open to serving as a reference for him moving forward.  Three months later, however, one bank told MMT that there was room for him at their inn. Morgan Stanley, apparently having decided the incident at Goldman was but an asterisk in what would be a long and fruitful career, told Taylor to come on down, employing him for over four years until he left in July of his own accord and not because of any legal issues relating to his work at Goldman Sachs. Taylor was accused yesterday by the U.S. Commodity Futures Trading Commission of concealing an $8.3 billion position in 2007 that caused Goldman Sachs to lose $118 million. Goldman Sachs fired Taylor in December 2007 and cited “alleged conduct related to inappropriately large proprietary futures positions in a firm trading account,” in a so-called U-5 form, according to a Financial Industry Regulatory Authority document. Morgan Stanley, which had employed Taylor before he joined Goldman in 2005, re-hired him in March 2008, according to the records. Taylor, who handled client-related equity derivative trading at Morgan Stanley, left the firm in July, according to Mark Lake, a company spokesman in New York. His departure wasn’t related to the CFTC complaint filed against Taylor yesterday in federal court, according to a person familiar with the situation, who requested anonymity because the information is private. Taylor concealed the position by bypassing the firm’s internal system for routing trades to the Chicago Mercantile Exchange and manually entering fabricated futures trades in a different internal system, according to the complaint. Goldman Sachs, which wasn’t identified in the CFTC lawsuit, said Taylor allegedly made the trades while employed at the firm. Anyway, since MMT is a free agent at the moment, if any other banks would like to overlook the blip, please do get in touch directly. Citi, BofA? At least just think about it. He was good enough for Morgan Stanley, he should be good enough for you. Morgan Stanley Hired Goldman Trader Accused Of Hiding Position [Bloomberg] CFTC Charges Matthew Marshall Taylor with Fraud for Fabricating and Concealing Trades from His Employer and Obstructing Their Discovery [CFTC]