Word: money
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Dates: during 1990-1999
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...Harvard let go many of its security guards loose this summer. "About half of the guards left," Billy says. "About 27 out of 54 guards I'd say. Either they were old, or they took some money and got away. It was a lot of money, maybe $13,000, but that's not a year's worth of work. In the long run, the agreement wasn't worth the paper it was printed on." Harvard replaced the vacated positions with subcontracted workers from Security Systems Incorporated (SSI). Instead of the traditional black Harvard uniform, they wear bright white shirts with...
...bank specializing in high-tech firms. There are thousands of young people like him in New York, working a two-year stint in finance, sporting dress shoes and bulging billfolds. From the outside it looks like the lifestyle of a GAP ad--urban excitement plus youth plus heaps of money...
...money can't hurt either. Shemmer earns $45,000 a year plus $20,000 to $25,000 in annual bonuses, which are based on evaluations from higher-ups. (The median income of American households was $38,885 last year, by the way.) At that salary, Shemmer can afford his portion of the $2,400-a-month apartment he shares with a college friend. Still, everything's relative. Although Shemmer invests his annual bonus, he spends the rest. "I break even every month," he confesses. His three main expenses: rent, alcohol and cabs. Shemmer spends most Friday and Saturday nights partying...
...list matters because the stock market is every analyst's favorite hobby. Shemmer and the other analysts trade stock prices like sports scores, bragging loudly about their stocks from their desks. Shemmer has more than $11,000 of his own money invested in the market, mostly in risky, especially volatile "penny stocks" that can be bought in huge quantities. "Make your fucking move!" he shouts at one dawdling stock. But he's proud of a company called Zamba, which started out in the morning at $5 a share. It's up to $5.50 by the time he settles down...
...friend from Penn calls. A senior, he's considering taking a job with one of the big downtown banks. Shemmer is indignant. "Ninety percent of the analysts hate it," he tells his friend, a fraternity buddy. "There's no guarantee you're going to make more money." His friend wavers, and Shemmer hones in. Shemmer instinctively organizes his pitch into bullets and subpoints, neatly lining up Broadview's advantages and the competitor's downsides like he might at a client presentation. It's a habit of the analyst mind. Later, when a new co-worker asks...