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(Huffington Post UK)   New report on financial industry calls for thousands of highly-paid traders to be fired so they don't destabilize the economy, notes that they can deliver pizzas in Bentleys just as easily as driving to their brokerages   (huffingtonpost.co.uk ) divider line
    More: Amusing, McKinsey, return on equity, financial regulators, head counts, total costs, viability, payment protection insurance, central banks  
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826 clicks; posted to Business » on 21 Nov 2013 at 1:27 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-11-21 01:33:39 PM  
Did you even read TFA, subby?

The recommendation has nothing to do with "destabilizing the economy", but rather recommending staffing cuts to improve profitability of the investment banks.
 
2013-11-21 01:35:47 PM  
pixel.nymag.com

Taleb smash your risk ridden chaos machines!
 
2013-11-21 02:00:55 PM  
I wouldn't want one of them handling my pizza.
 
2013-11-21 02:29:30 PM  
In my neighborhood, there's an 'Extreme Pizza' shop with a Jaguar as a delivery car.
 
2013-11-21 03:12:54 PM  
I've seen on several occasions a guy driving a new S5 to deliver pizzas.  I don't know how one could break even on gas, tires and insurance much less payments on one of those bad boys delivering pie.  The new turbos are not easy on gas.

I've also seen an S-class pulling similar duty, but only once.
 
2013-11-22 01:47:10 AM  

factoryconnection: I've seen on several occasions a guy driving a new S5 to deliver pizzas.  I don't know how one could break even on gas, tires and insurance much less payments on one of those bad boys delivering pie.  The new turbos are not easy on gas.

I've also seen an S-class pulling similar duty, but only once.


Your delivery pizza comes with a small baggie of "parmesan cheese", that's how.
 
2013-11-22 05:05:09 AM  
Investment banking is incredibly cut-throat....if traders aren't making a profit they are shown the door.  Profit and Loss is monitored in real time, daily, weekly, monthly, annually and so-on and so-forth.

Unlike most jobs in most sectors, traders can me accurately and objectively measured, down to the penny.  I've worked plenty of jobs in generic office buildings where some guy with 20 years of experience didn't do any work, but showed up on time and couldn't really be fired unless he did something horribly wrong.  So they kept him on.  That can still happen in financial services companies, but not among traders.
 
2013-11-22 06:31:30 AM  

Fark_Guy_Rob: Investment banking is incredibly cut-throat....if traders aren't making a profit they are shown the door.  Profit and Loss is monitored in real time, daily, weekly, monthly, annually and so-on and so-forth.

Unlike most jobs in most sectors, traders can me accurately and objectively measured, down to the penny.  I've worked plenty of jobs in generic office buildings where some guy with 20 years of experience didn't do any work, but showed up on time and couldn't really be fired unless he did something horribly wrong.  So they kept him on.  That can still happen in financial services companies, but not among traders.


Sounds like just about any call center I'd ever worked for in my younger days, it should pay appropriately to that level of micro management.
 
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