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USA nicht mehr "die Reichsten", sondern Europa!:
http://www.spiegel.de/wirtschaft/unt...649182,00.html |
Was ist mit US Vermoegen in Europa? ;)
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Sachen gibt's... :Nee:
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Spiegelonline
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Oha! Der Bruce Wasserstein ist tot: http://www.ftd.de/unternehmen/finanz.../50023972.html
Die RJR Nabisco Sache gehört zu meinen Lieblings-Stories. EDIT: Das Buch im Original: Barbarians at the Gate und die deutsche Fassung: Die Nabisco Story Das Buch wurde von den beiden Wall-Street Reportern Burrough und Hall geschrieben und schildert einen wahren Fall eines LBO inkl. echter Personen. Sehr lesenswert und enorm spannend - für denjenigen die sowas interessiert. Das waren im Endeffekt die "Anfänge" der Scheiße heute ... "The roaring 80s" ... |
Ich trage Trauer:
www.buell.de :Nee: Wäre quasi so, wenn Litespeed von Trek gekauft würde, und es dann hieß, ätschibätschi Tür zu, aus die Maus |
Bank Bonuses Spark Talent War
Financial firms under pay restrictions in the U.S. and Europe find their top executives and traders are targeted by headhunters By Esmé E. Deprez For as long as there has been outrage over Wall Street megabonuses, executives have justified their handsome rewards by warning that if companies didn't pay up, talent would flee to rival firms. Now it appears that theory is being confirmed. Recruitment experts hired by Wall Street trading houses, which are expanding to handle booming stock and bond trades, say they are zeroing in on companies such as Citigroup (C), American International Group (AIG), and others that are under U.S. or European pay restrictions. "The target list of nearly every major executive search firm these days includes executives from firms under TARP control," says Dennis Carey, a senior client partner at executive search firm Korn/Ferry International (KFY). He is referring to the Troubled Asset Relief Program, which pumped billions of U.S. taxpayer dollars into banks like Citi and Bank of America (BAC) during the financial crisis but also capped pay at the firms. "There's a significant opportunity to raid that talent," Carey says. White House officials said on Oct. 21 that federal pay czar Kenneth Feinberg will slash total compensation for the top 25 highest earners at the seven firms that received massive injections by an average of 50% and lower salaries by 90% on average. Earlier in the month, Britain announced it had signed up Barclays (BCS), HSBC (HBC), Lloyds Banking Group (LYG), Standard Chartered (STAN.L), and the Royal Bank of Scotland (RBS) to follow limits on bonuses agreed upon by the Group of 20 nations at their September meeting in Pittsburgh. Those recommendations included deferring some bonuses and the possibility of later "clawbacks" of awards if the performance upon which they're based doesn't hold up. New Rules from the Fed The pay gap could be tightened somewhat under rules the Federal Reserve proposed on Oct. 22. Banks in the U.S. would have to start persuading their regulators that pay practices don't threaten the bank's stability by encouraging excessive risk-taking; the Fed plans to compare pay policies across some 28 big and complex banks to rein in risk as well. But the rules may not go into effect for weeks or months as the Fed solicits and digests comments on the idea, and the proposal includes no firm pay limits or formulas. Some financial institutions have emerged from the financial crisis intact and eager to seize market share from their troubled rivals. Firms such as Goldman Sachs (GS) and JPMorgan Chase (JPM) quickly paid back their TARP funds so they could operate free of the federal restrictions—and now find that position to be a valuable recruiting tool. "This is certainly one competitive advantage for some organizations, albeit one that is quite unique to this moment in time in the markets," says Timothy L. Holt, managing partner in the financial-services practice at executive recruiting firm Heidrick & Struggles (HSII). Case in point: On Oct. 26, AIG Vice-Chairman Matthew Winter will become head of Allstate's (ALL) life insurance and retirement unit. Winter is one of at least 49 managers the beleaguered insurance giant has lost since September 2008, according to Bloomberg. AIG is struggling to turn itself around following a federal government infusion that has now reached $182.3 billion. AIG declined to comment. Citi did not respond to requests for comment. Bank of America spokesperson Kelly Sapp stressed the company is "strategically hiring" around the world. "In fact, recently we have hired hundreds of high-performing and experienced financial advisers as well as a number of bankers, sales, and trading associates and analysts," Sapp says. Bluffing on Wall Street? Many don't buy the whole talent-must-be-paid justification for big bonuses. "I continue to wonder how much bluffing there is going on here," says Sarah Anderson, a fellow at the Institute for Policy Studies, a progressive think tank in Washington. "The financial sector's favorite argument has always been to warn they'll lose all their top talent, but given the state of the economy, the unemployment level, and the fact that European governments are cracking down, there's not so many places for Wall Street employees to go to get those massive paychecks." There are certainly more people looking for jobs than there are slots to fill. Over the past year financial-services employers have shed 413,000 employees, on a seasonally adjusted basis, according to the Bureau of Labor Statistics. Anderson argues that the public purse should be used to encourage all financial firms—not just those that have directly received government bailout funds—toward "more rational" pay levels. She says that can be done by imposing tighter limits on how much executive pay companies can deduct from corporate income taxes or by giving preference of government contracts to companies that don't pay their CEO more than 100 times the lowest-paid worker. "As long as you're dangling outrageously large amounts of money, it encourages outrageous behavior no matter how it's structured," Anderson says. Bonuses Widening Pay Gap The pay gap is being exacerbated by a return to huge bonus payouts at some firms. On Oct. 14, The Wall Street Journal estimated that major U.S. banks and securities firms will compensate their employees up to $140 billion this year, up 20% from last year's $117 billion and even higher than the 2007 precrisis figure of $130 billion. Goldman Sachs alone could be on track to shell out some $22 billion in compensation by yearend, based on the third-quarter profits of $3.2 billion it reported on Oct. 15. That would come to almost $700,000 apiece if it were spread evenly among Goldman's 31,700 employees—which, of course, it won't be. The prospect of those huge bonus payments, while much of the workforce struggles, has drawn harsh criticism from across the pond. "What happened with Goldman Sachs last week sends the wrong signals," said British Chancellor of the Exchequer Alistair Darling at an event in London on Oct. 21. "I've spoken to all our banks and none of them would be standing here today if the taxpayer hadn't put their hand into their pocket." If the U.S. doesn't broaden pay restrictions beyond the TARP companies, European banks could suffer from the resulting pay gap. Much as U.S. politicians want to crack down, though, they also need big banks to return to health—which was the point of TARP in the first place. Taxpayers want to be paid back, with interest. But in order for that to happen, says Michael Walden, an economics professor at North Carolina State University, banks need to attract the best traders and other employees. "Handcuffing those firms from attracting that talent through pay will backfire," he says, and "will be a big deterrent for them to become financially healthy again." Employee Loyalty Eroded Pay, of course, is just one factor in a person's decision to stay or leave. But massive layoffs have eroded confidence and loyalty, chipping away at cultures created over the years and with which employees grew to identify. "It used to take a lot more than money to get people to leave," says Gary Goldstein, president and CEO of executive search firm Whitney Group in New York. Once a worker feels his firm no longer is loyal to him, what's the sense in showing loyalty in return? "If people are leaving just for a couple more bucks, that belies a larger issue that firm is facing, in that they haven't been able to get people connected to the firm." That breakdown of employee-employer ties, combined with uncertainty for the future brought on by the recent market calamity, makes an argument for jumping ship all the more compelling. Recruiters don't even need an explicit sales pitch, says Korn/Ferry's Carey. In a marked break from the past, the number of executives who have approached him hoping to explore other options, rather than the other way around, has picked up significantly since the TARP regulations were imposed. "I had a conversation with an executive just recently who called me and said, 'I need to get out of this place,' " Carey recalls. |
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GM und Opel - ich lach mich schief :Lachanfall:
http://www.ftd.de/unternehmen/indust.../50032259.html Aber genau meine Erfahrung mit Amis: Solange die Tinte nicht unter'm Vertrag ist, ist alles "subject to change". Mündliche Zusagen darf man nicht ernst nehmen. Mit solchen Leuten sollte man keine Geschäfte machen. Von 1) Mund halten bis die Dinge geklärt sind (Diskretion) und 2) Deckung zwischen Reden und Handeln (Integrität) hält man wohl insgesamt wenig. :Nee: |
traurig, traurig.... aber ich wage mal eine dunkle prognose und sage dass ueber kurz oder lang herr von guttenberg recht behalten wird und opel irgendwann in der insolvenz landet. :Nee:
schade dann um die vielen arbeitsplaetze. |
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New York Times 18 November 2009 Wall Street on Track for Record Profits By Zack Kouwe Ten months ago, President Obama said a time would come for Wall Street to make profits and pay bonuses, but “now’s not that time.” But it appears that was exactly when Wall Street began to return to profitability. In a report released Tuesday by Thomas P. DiNapoli, the comptroller of New York State, Wall Street profits in 2009 are on track to exceed the record set three years ago, at the height of the credit bubble. The report noted that the four largest investment firms in Manhattan — Goldman Sachs, Merrill Lynch, Morgan Stanley and the investment banking arm of JPMorgan Chase — earned $22.5 billion in the first nine months, in contrast to losses of more than $40.3 billion in 2008, primarily at Merrill. “The national economy is slowly improving, but Wall Street has recovered much faster than anyone had envisioned,” Mr. DiNapoli said in a statement. Net revenue at the four firms, which excludes interest expenses, reached a high of $57.7 billion in the second quarter, Mr. DiNapoli said. Though total revenue has been higher in previous quarters, the banks benefited from a sharp decline in interest payments, $5 billion in the second quarter from a high of $76.3 billion in the last quarter of 2007. Fueling the gains were extraordinary profits from the firms’ own securities trading accounts as they borrowed at near-zero interest rates and put the money to work in the securities markets. Member firms on the New York Stock Exchange earned a record $35.7 billion for their broker-dealer operations in the first six months, $8.9 billion more that the previous high in 2000, the state comptroller said. In turn, the profits are contributing to a resurgence of bonuses on Wall Street. Six of the top American bank holding companies set aside $112 billion for salaries and bonuses, including deferred payments, in the first nine months, Mr. DiNapoli reported. The six banks are Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo. If the profits continue, bonuses at the six banks could exceed the $162 billion paid 2007 — the year before the financial crisis hit stock markets. Though compensation has rebounded at the four largest banks, Merrill Lynch, now part of Bank of America, and Morgan Stanley reported a decline in overall compensation. Employment in the securities industry in New York City fell by 28,300 jobs since its peak in November 2007, the comptroller said. The report predicts, however, that job losses in the sector are unlikely to exceed 35,000 by the end of the year, a much smaller number than previously forecast. The gains in compensation will not necessarily be reflected in New York’s tax collections because the compensation overhaul could cause firms to sharply restrict cash bonuses. The amount of business tax credits accumulated by Wall Street firms from last year’s record losses could also restrain tax receipts, Mr. DiNapoli said. He estimated the decline in tax collections from Wall Street-related activities next year could be 5 to 20 percent. “Wall Street remains the engine that drives New York’s economy,” Mr. DiNapoli said in a statement. “It’s encouraging that the industry is recovering faster than forecast.” |
Du meinst, wir sollen alle von unseren Orangenkisten heruntersteigen und die unplanmässige Verschiebung des Weltuntergangs eingestehen?
not so fast, parke diesen Thread mal ein Jahr, dann ist immer noch Zeit zerknirscht zu sein :cool: m. |
Mach' fuenf draus, dann duerft Ihr wieder ein paar Wochen Weltuntergang spielen.
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Nach wie vor ne reine Blase. Von Produktivität lese ich da nix.
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bei mir war der Endstand von letztem Jahr, jedenfalls bereits Ende September um ein Drittel überschritten ---aber wer weiß, vielleicht kommts tatsächlich noch schlimm |
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Manche sind mehr betroffen, manche weniger. Ich merke aber auch, dass der Markt enger wird. Kunden überlegen 4x bevor ein Auftrag rausgeht. Derzeit kann man mit rigiden Cost Cuttings gutes Geschäft machen, ist halt blos nicht das worum ich mich reisse :Nee: |
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Mein cousin, wird denächst arbeitslos, weil sein Betrieb ( im Nachbarort) , indem, er schon 25 Jahe arbeitet demnächst komplett dicht gemacht wird, 300 Arbeitsplätze sind weg, auch ein Betrieb der Automobilzulieferer, gehört übrigens zum Magna Konzern. |
New York Times
21 November 2009 Wall Street’s Spin Game By GRAHAM BOWLEY Lloyd C. Blankfein, chief executive of Goldman Sachs, the bank to bash on a resurgent Wall Street, is receiving a lot of advice lately, and it’s not just about money. Sitting before an audience of 300 at the Metropolitan Club of New York on Tuesday, he spoke with barely disguised disdain in his voice about the work of the image consultants, reputation experts and public relations advisors who are beating a path to his door, and to the doors of other Wall Street banks vilified for their profits and million-dollar bonuses at a time of continuing economic pain. “Some people come in and say, ‘You are doing too much. Don’t say another word.’ Other people say we should get on the talk shows,” said Mr. Blankfein (as he was awarded the distinction of C.E.O. of the Year by a magazine for corporate directors.) A few years ago, Wall Street would have cared less for such artifice — it was enough that the Masters of the Universe were wildly successful; their success spoke for itself. But politics and the bottom line have energized the relationship between these New York institutions of money and spin, as banks see the need to calm the rage directed toward them and confront a public relations problem that has seemed in recent weeks to be spiraling out of control. Just last week, Goldman announced that it would spend $500 million to help thousands of small businesses recover from the recession. At the same time, Mr. Blankfein acknowledged that Goldman had made mistakes. “We participated in things that were clearly wrong and have reason to regret,” he said. ”We apologize.” But is that enough? And, if it isn’t, what will be? Examples of the public’s anger at Wall Street are legion. Last month, a couple of thousand protesters marched on the American Bankers Association’s annual conference in Chicago brandishing cut-outs of bank C.E.O.s. As the Chicago demonstration made clear, the image problems aren’t confined to Goldman and could have a cost. Wall Street banks are under regulatory pressure, and come election time, if unemployment is still above 10 percent and Wall Street is still paying itself big bonuses, lawmakers’ wrath might force broader pay curbs, tougher restrictions on what banks can do, or even a break up of the biggest banks. They are already losing business because of their toxic reputations. One recent Goldman deal, for instance, to buy cheap assets from Fannie Mae, the hobbled mortgage lender, was blocked by the Treasury because it couldn’t be seen to be helping Wall Street benefit once again from the crisis. Critics say the negative media chatter is dragging on their share price. Now, the main securities industry trade organization has hired Brunswick, a powerhouse public relations firm, to burnish the banks’ image, and banks are urging their staffs to cut down on conspicuous consumption and are canceling Christmas parties in an attempt to turn the reputational tide. It is a tough brief, even for Manhattan’s skilled public relations industry. Last week, New York State’s comptroller reported that Wall Street profits this year are on track to exceed the record set at the height of the credit bubble. So what to do? Here are some suggestions about making the unloved Masters of the Universe loveable again. Be humble: Apologize and say thank you. The quickest way for the banks to redeem themselves could be to admit they played a role in the crisis and that their survival depended on taxpayer money. Several public relations executives pointed to John J. Mack, Morgan Stanley’s chief executive, as an example of a banker wisely getting in front of the problem early. It was Mr. Mack who offered a full-throated mea culpa at a Congressional hearing last February for his bank’s role in fueling the crisis. “We are sorry for it,” he told lawmakers. One public relations executive, who does not work for Mr. Mack and who asked not to be identified for fear it could hurt his relationships with other bankers, said: “They have done the best job of anybody of navigating the crisis.” Not every bank has been willing to apologize even though “maintaining otherwise manifestly contradicts the reality that most people see,” according to Stephen Davis, executive director at the Millstein Center for Corporate Governance and Performance at Yale University. Goldman’s apology, for instance, was a grudging start but it may not be enough. “They should be taking advertisements, they should hold seminars, news conferences,” said Howard J. Rubenstein, president of Rubenstein Associates, who argues for a more effusive mea culpa. “This is a time for gratitude and attitude. One letter to the editor, one news conference, one speech does not make an image.” Give Back Some Money. Donating money to a worthwhile cause is another way of soothing public outrage. But there is the risk that such a strategy will be seen as a transparent ploy to buy off public opinion. Goldman’s donation was only about 3 percent of the $16.7 billion the bank has so far set aside this year for its bonus pool. The bankers may have to give up more yet — and not only by writing a check. “They need to give back and make a real impact — public education, health care, after school programs,” Mr. Rubenstein said. “These guys have brilliant staff. They should make it mandatory for their people to do voluntary work big time.” Show you create real products that benefit people. The crisis revealed what some people had long suspected: that quite a lot of the whiz-bang financial engineering that Wall Street relied on for profits was worthless. According to Richard Edelman, a leading New York public relations executive, one of the best things Wall Street could do now is clearly “explain how you make your money and why your business model makes sense for a stakeholder society.” If they can demonstrate in vivid terms the real role they play in the economy — by helping companies borrow money to grow and create jobs, for example — they might also justify their profits and pay. Says Travis Larson of Financial Dynamics in Washington: “It is clear how sports stars are judged, and everyone knows how Bill Gates makes his money because you can see the software. Investment banks need a new metric for success.” Cut Pay. Even then, the most likely way to win back sympathy may be to do what the Masters of the Universe would probably hate the most, which is pay themselves less. At the moment, that doesn’t appear likely. Six of the top American bank holding companies set aside $112 billion for salaries and bonuses in the first nine months, according to New York’s comptroller. If profits continue, bonuses could exceed the $162 billion paid in 2007 — the year before the financial crisis hit stock markets. The banks are Bank of America, Citigroup, Goldman, JPMorgan Chase, Morgan Stanley and Wells Fargo. Still, some banks are making changes to the way they pay their employees. Credit Suisse, the big Swiss bank, intends to tie bonuses to a specific financial measure and effectively claw back payouts if the bank’s fortunes dim. But the move will not necessarily reduce compensation there. Forget about it — it will go away. In the end, though, should banks really care? Maybe the current storm will indeed blow over. Even so, bad reputations can potentially have real costs. The beating in the court of public opinion demoralizes staff, distracts senior executives and can hurt a bank’s ability to hire. Franz Paasche, a reputations specialist at Communications Consulting Worldwide in New York, argues that a bad reputation can also harm a company’s ability to fight for what it wants in Washington. “Reputation has value and strong reputations create permissions to grow and prosper,” he said. As Wall Street banks’ reputations sink, “they are losing the more active seat at the table in discussions about policy.” If the government did take wider measures against the banks, it would leave a very different Wall Street. There would be less swagger to those Masters of the Universe. But perhaps only then would the rest of us finally be able to love them. |
26.11.2009
Emirat in der Krise Golfstaaten fürchten Folgen des Dubai-Schocks http://www.spiegel.de/wirtschaft/unt...663726,00.html It's not over 'til it's over! Leider sind manche, siehe einige Posts von Dude vll. doch ein wenig voreilig zum Tagesgeschäft übergegangen: "Die Nachrichten aus Dubai sind heute morgen wie aus heiterem Himmel gekommen", sagte der Frankfurter Händler Norbert Empting von der Schnigge Wertpapierhandelsbank. "Sie haben uns die Finanzkrise wieder in Erinnerung gerufen, die wir schon zur Seite geschoben hatten." Entsprechend schlecht sei die Stimmung am verunsicherten Markt, der wieder auf dem Boden der Tatsachen angekommen sei. |
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Leider wird nach wie vor nicht danach geschaut, welche Substanz und welche reellen hinter den Geschäften steckt. Solange das nicht passiert, werde einige wenige weiter den Rest in die Sch**** reiten. |
Endlich wird mal WAHRE Leistung gewürdigt
http://www.spiegel.de/wirtschaft/soz...666917,00.html davon haben werden die Leute zwar nix, aber..... Zitat:
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Ein Klapps auf die Schulter wird nicht reichen. |
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jedoch...wenn fremde Frauen etwas für mich tun, gebe ich ordentlich Trinkgeld ;) |
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ich wollt ja das meine Frau von nem netten Philipinischen Hausmädchen unterstützt wird, da sie aber schon die nette Thailänderin die ich als Kindermädchen engagieren wollte, abgelehnt hat...... |
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-- ansonsten ists wie mit Triathlon Alte Männer in engen Lycra Anzügen will auch keiner mehr sehen |
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Quatsch, die Alten malen immer schwaerzer. Das war schon immer so und wird auch so bleiben. Sie hat wahrscheinlich Angst vor dem Indernet. Zu recht?
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same Procedure............
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Du, pmp, du hast mal wieder vergessen, die Quelle anzugeben... ;)
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