Word: biddinger
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Even a lower-echelon dealmaker or trader could drown in this year's bonus pool, filled by the huge flow of investors' money into Wall Street and by auction-quality bidding for talent. "It's like Madonna or Michael Jordan," exclaims Alan ("Ace") Greenberg, chairman of Bear Stearns and one...
Naomi S. Stern '97, who is just about to bound up the stairs to leave, says she finished her materials "an hour ago." Her strategy was to bid 940 points on one open-bidding company and apply to three closed ones.
A majority of the companies operate under closed bidding, in which seniors use 20 points--of a total of 1,000--to submit materials. But adding to the recruiting stress, some companies accept open bidding, which means they only consider the highest bidding applicants.
As perhaps the premier commissioner in all of sports, Rozelle led the National Football League for nearly three decades before retiring unexpectedly in 1989, helping it survive bidding wars with three rival leagues and three player strikes.
Reinsdorf, understand, is the hardest of the hard-line owners warring with the players' union. He has the ear of acting commissioner Bud Selig, who recently presided over the defeat of the labor deal that would have brought peace and imposed a luxury tax to level the playing field between...