Firm Staff Told No Holidays As 'We Are Not Making Money'
More in BUSINESS NEWS
back-up- Meet Goldman Sachs' Newest Managing Directors
- Geithner On Financial Regulatory Reform
- Free Job Postings Until 31.03.2010
- Bank Tells Staff To Knock Off Early To Make Babies
- 'Do I Seem Like A Guy Who Throws Chairs ?'
- Best Place To Work Update
- Office Humour - Warning, Some May Find This Offensive
- City Bankers Prepare For Disaster Scenario
- John Thain Defends Wall Street Bonuses
- Click Here To Register For Free News E-Mail Alerts
- Lazard Names New CEO
- Top Firm Told To Give Up Bonuses
- Government Accused Of Botching Major Bailout
- UBS Reveals Its Hand
- The Dash For Trash
- Too Big To Fail
- 'Sorry - But Christmas Is Cancelled'
- Regulator To Have Power To Tear Up Banker Pay Contracts
- IT Programmers Accused Of Being Madoff Accomplices
- Cityboy On Corporate Social Responsibility
- Top Firm To Unveil Turnaround Strategy
- The Obvious Candidate To Succeed Ken Lewis Is Ken Lewis
- Quit The UK To Avoid Higher Taxes - Poll Results
- Bankers Forced To Take Second Jobs To Make Ends Meet
- Goldman Kitten Payments Go A Stray
- More Compensation News
- Best Place To Work 2010 - Vote Now
- Banker Eye Test
- Goldman Sachs - View From The Top
- The Lloyd's Prayer
- Exec Claims Hedge Fund Boss Hired Hit Man To Kill Her
- $125m-A-Year Banker's Wife Says She Was Treated Like 'Mail-Order Bride'
- 'The Sell Out'
- 'Many Of You Have Seen Life Savings Vanish'
- Tough Times For Expenses - £5 For Lunch
- Tragic Banker Rehearsed Suicide Before Killing Himself
- Bear Stearns Fraud Case - The Verdict
- Even More Compensation News
- CEO Says That History Will Vindicate Him
- Traders Desperate To Get 'The Clap'
- Reservoir Gods
- Who Was Mr Angry During The Financial Crisis ?
- JPMorgan Chase Compensation Letter
- Regulator Warns - 'Yes, That Does Mean People Go To Jail'
- Brokers Complain Of Bailed-Out Banks Bullying Tactics
- Best Place To Work - Previous Winners
- Best Place To Work 2009 Results - The Top 100 Firms
- CEO Says He Could Top Himself & People Would Cheer
- Top Firm Hires 78-Yr-Old / Ex-Boss Says 'Sorry' For Citigroup
- Top Firm Said To Be At Loggerheads
Related Content
- Top Firm Said Making Plans For Possible Leadership Change (22/09/2009)
- Top Firm Told To Give Up Bonuses (17/11/2009)
- Top Firm Puts More Aside For Staff Compensation (30/10/2009)
- Top Firm CEO Says He Won't Poach Staff From Rivals (28/10/2009)
- John Mack Confirms He Told Geithner To 'Get F....d' (16/10/2009)
- 'Madoff With The Money' (14/09/2009)
Here it is:
'We are an investment bank. Unless you are an orthodox something, please get into the office. We are getting paid minimum wage for a reason - we are not making money, which is hard to do from home.
Join Wells Fargo and become a teller if you want to take holidays'. (Otherwise, have a Happy Easter!).
In the meantime, The Guardian reports that at least 20 staff have quit AIG Financial Products (at least 7 who worked in London), after getting fed up over the stick they got for their retention bonuses. The departures are said to have resulted in the slow-down of the winding down of the firm's derivatives portfolio, and US taxpayers are likely to pick up a bigger tab as a result. No doubt US lawmakers are pleased with themselves for stirring up all that bonus furore.
And FT Alphaville reports that US regulator The Securities and Exchange Commission is to 'review' whether Bank of America may have broke securities laws by not informing its shareholders, ahead of a vote to sanction the Merrill Lynch deal, about its plan to pay out $3.6bn in bonuses to Merrill's staff last December.
Finally, The New York Times reports that Mario Gabelli, the Chairman & CEO of Gamco Investors, bagged a $46m comp package last year, even though the value of the firm's various funds 'sank with the turbulent market'.
Please use the 'E-Mail' button immediately under the article title to send this item to a friend.
Please use the 'E-Mail' button immediately under the article title to send this item to a friend.
