Word: bankerly
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...what car company and bank executives were to be paid, was that employees could make as much as management felt they were due based on their contributions to the firms where they worked. The best salesman at a company could earn more than the CEO. The best investment banker at a brokerage firm could earn more than the head of investment banking. Just because a CEO held the highest title at a company did not mean that he had to be paid more than everyone who worked for him. Annual compensation data from the SEC has shown that a number...
...White House's auto-task-force working group is headed by Steve Rattner, a former reporter who was head of the private-equity firm Quadrangle Group, and Ron Bloom, an investment banker who previously worked for the United Steelworkers union. Staffed by about 15 restructuring and other experts, the task force aims to do two things in the weeks ahead. First, it will try to close the deal on Chrysler's sale to Fiat. Sources familiar with the task force's approach describe Chrysler as "hollowed out" by a succession of owners and largely worthless, with no quality brands other...
...Spotting a banker for her to get behind wasn't easy. Employers had suggested that financial workers dress down for the day, fearful a baying mob could set about them. That was never likely. While some outside the Bank of England jeered at the staff standing behind its leaded windows, others waved. Those workers who did brave the streets went unmolested. Riccardo Dilorenzo, an immaculately suited property developer stepping out from a nearby office, even dared to label the protesters "hypocrites" since "half of them don't work." (Even he, though, might have admired the opportunism of others; street hawkers...
...they came from different planets. Thanks to the success of his dealmaking firm, Quadrangle, Rattner, 56, lives atop New York society in an apartment overlooking Central Park and the Metropolitan Museum of Art. Bloom, who turns 54 today, lived until recently in Pittsburgh and trained as an investment banker so he could help unions negotiate complicated deals, which he has done for the past 15 years as an assistant to the president of the United Steelworkers union...
...rotten time to be a banker. Whether their fingerprints are on a single credit default swap or collateralized debt obligation or not, financiers are being fingered for blowing up the global economy. The assets they traded are "toxic" and their bonuses "obscene." And members of the public, it seems, are fed up with the lot of them. In a leaked security memo sent to staff last week, bosses at AIG warned workers to keep an eye out for aggressors amid the "growing sense of public attention fueled by increased media scrutiny." AIG employees were advised to ditch AIG apparel...