ls99
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- May 2, 2008
- Messages
- 6,506
Ripping off clients? What else is new?
My DW (not quite a VP yet) shares a cube with a VP at a different I-bank - that should tell you the level VP's are at in i-banks.
there goes the name calling...can't say that surprised me.
Does that include 143 years of a culture that gives thousands of its junior employees the title of "vice president"?I have trouble taking seriously a critique of 143 years of culture at the firm ....
Does that include 143 years of a culture that gives thousands of its junior employees the title of "vice president"?
there goes the name calling...can't say that surprised me.
Good info though on his level being lower than I had thought. I'm a Director at my MegaCorp, and I'm considered to be a "senior" executive...but the word "senior" doesn't mean what you think. Here's a better way to think of it...
We have "salary grades" from 3 (no college degree, no experience) all the way up to 13 (Vice President and Officer). I'm a 10. You can decide for yourself where that puts me...it seems Goldman uses titles differently than we do. I would estimate we have around 40 VPs in our corporation, and we're a Fortune250 company with about 45,000 employees.
I'm a Director at my MegaCorp, and I'm considered to be a "senior" executive...but the word "senior" doesn't mean what you think. Here's a better way to think of it...
We have "salary grades" from 3 (no college degree, no experience) all the way up to 13 (Vice President and Officer). I'm a 10. You can decide for yourself where that puts me...it seems Goldman uses titles differently than we do. I would estimate we have around 40 VPs in our corporation, and we're a Fortune250 company with about 45,000 employees.
Congrats!
Don't worry, you'll see her again eventually.
I've heard of brain-dead employees, but this requirement is over the top...... new hires check their conscious in at the door in the future.
Does that include 143 years of a culture that gives thousands of its junior employees the title of "vice president"?
Lying, cheating & stealing are far more common now than they were when most of us were kids, no comparison...
Or helping their young junior personnel get dates by handing out business cards, I was thinking...I'm guessing that the whole VP thing centers around certain requirements that many of the transactions they do must be performed by an 'officer of the company'?
Or helping their young junior personnel get dates by handing out business cards, I was thinking...
Or helping their young junior personnel get dates by handing out business cards, I was thinking...
Based on what I read, he's very young? Does anyone have a link to a photo of him?
See below. Disgruntled and naive.Who's calling names?
Oh, make it stop. It's too funny.
But it does explain a lot . . . how young he is, why someone would be disgruntled at still only being a VP after 12 years, and the naivety with which the article is written.
Thank you.I think this is him. The photo is from the article at the link.
Greg Smith resignation letter: Goldman Sachs exec quits over firm's 'toxic' culture | Mail Online
I don't think enlightened is the word I'd use...but I think it's refreshing that someone is willing to say what actually goes on rather than being paid "hush money" to go away and be quiet.What is surprising to me is that anyone would be enlightened by his letter.
You must have read a different letter than the one I did. He clearly stated that he did not have an issue with them trying to make money. His issue was that they were trying to make money at the expense of the very customers they were supposed to be serving.Mr Smith sounds like a disgruntled loser. The bottom line is that banks (like all other businesses) exist to make money for their shareholders and it is disengenuous (to say the least) to claim that there is a problem with that.
Well, I sort of disagree with this, but maybe you consider this part of reputation...I think ethics should be a fourth. If you consider ethics part of reputation, then fine...we agree. IMO the ethics were violated, if you believe what he said was true.As to the way in which Goldman (or any other business) goes about making those profits, there are really only three restraints - legal and regulatory issues, customer relations and reputation.
If it goes without saying, you would not have said it...but I'm glad you did. Customers may not always know that they were getting the wrong end of the deal. Let's say I had a coin that I had no idea of the value. You, an expert came in and told me it was worth $50 even though you knew it was worth $100. I had expected that it was only worth $20...so I gladly took $50 from you. Then, you went out and sold it for $100. Seem ethical to you? You could argue that the seller should do their own research and beware of the buyer...I'll accept that. But it does not forgive the deceitful buyer for misleading the seller.Lastly, it goes without saying that if customers were consistently losing money on the products being sold to them, presumably they would stop buying them. If customers thought they were being misled or missold products, they would either sue or complain to the SEC - something which unhappy customers routinely show a willingness to do.
You're entitled to your opinion...but I disagree...we'll find out over time what the customers of Goldman think. It's obvious you, as a customer, are not going anywhere.Mr Smith's letter is more damning of Mr Smith than of Goldman.