Word: bankers
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Several years ago, executives with Singapore's major private banks came to the government with an enviable problem. Asia was minting so many rich people, and the lucrative business of managing their wealth was growing so rapidly, that there weren't enough skilled private bankers to go around. The talent shortage was so acute that banks reportedly were hiring local hairdressers and car salesmen and turning them into private bankers. They were also stealing employees from rival banks. "There were a lot of complaints to the Monetary Authority of Singapore about poaching," says Annie Wee, a former private banker with...
Here is the reality of New Orleans' risk profile, present and future: Donald Powell, the banker appointed by President George W. Bush to run the reconstruction effort, said last December, "The Federal Government is committed to building the best levee system known in the world." As of right now, the Corps plans to spend $6 billion to make sure that by 2010, the city will (probably) be flooded only once every 100 years. That's not close to the best in the world. The Netherlands has a system designed to protect populated areas against anything...
Candace Nelson, who co-owns Sprinkles with her husband, opened a second Los Angeles location last week and plans to go national. "These are scary times. That's when people crave comfort food," says the former investment banker. "That's why I went into the cupcake business. I'm in this little cupcake bubble where everyone is smiling...
...reserves are vast, its costs are low by international standards, and the fact that it will remain majority-owned by the Russian state after the flotation will ensure it receives preferential treatment at home. And the company claims it's playing by Western rules; a veteran European banker has joined the board, and the firm uses U.S. accounting standards. Rosneft's [an error occurred while processing this directive] goal, Bogdanchikov promises investors, is "to set a new standard of corporate governance in Russian oil and gas." Try telling that to Mikhail Khodorkovsky, a former Russian oligarch currently serving a jail...
...them out of true interest, and not just because of those great expectations. And it seems that the notion of what one is supposed to do drives too many college students’ summer plans. Why else would so many undergraduates strive to spend their summer as investment bankers? Most would admit it is not for a love of finance. Rather, it is because being an investment banker fits the profile of what a Harvard student is expected to be: wealthy, prestigious, and hard-working. Of course, I may be guilty of embracing the psychology of PBS children?...