Pain & Pleasure

Quote from mingsphinx:

The MBA class of 2004-2007 are probably the worst affected by what is happening. They finished college between 1995 and 2000 and were the lucky ones who survived the dotcom collapse. The guys who have just entered school are the lucky ones as they get to wait out the storm. For those who have been given the boot, they can kiss their high paying jobs and Wall Street careers goodbye. Those who were smart saved up and paid off their student loans. Those who were dumb bought co-opts at inflated prices and deferred payment on their loans because they did not think it would ever happen to them. People who gets MBAs from places like Harvard and Wharton probably never imagined that bankruptcy would touch them; but under the present circumstances, we will hear more about how MBAs are ending up unemployed and penniless. Now does that not put a smile to your face? :)
More...
Prophetic.
 
Perhaps they can "merge their value-added synergies, move forward, knock the cover off the ball, partner into a win-win, without losing any core competencies".
F*#@k them:D
 
Quote from davidmaria1:

Perhaps they can "merge their value-added synergies, move forward, knock the cover off the ball, partner into a win-win, without losing any core competencies".
F*#@k them:D
More...

Perhaps only if they do so using "granular mean-reversion analysis with a qualitative version of a qualitative Monte Carlo simulation which leverages their lives in an anti-Markovnikov strategy."
 
eventually the market will peg parasitic activity to its real value.

90% of these people are paper pushers who provide no real value.

and traders add what of value to society?
 
http://www.nytimes.com/2009/01/17/business/17interview.html?ref=business

The guy from Heidrick & Struggles wants people to go work for the Russians! :D

Q. Where do those 240,000 people go?

A. There are a couple of things happening. When I say retool or reinvent yourself, some of the local investment banks in Chicago are recruiting people from New York. That just wouldn¡¯t have happened a couple of years ago.

You¡¯re also seeing people moving abroad. I¡¯ve heard about an investment banker who just packed up and moved to the Middle East. He¡¯d never been there before, but he took his family and said: ¡°I have enough money to survive. Let me go over there and try to lend my services to those firms.¡± Simultaneously, you have large Japanese, Chinese and Russian organizations looking at this as an opportunity to get top talent.

But it¡¯s a supply and demand issue. The demand simply isn¡¯t there for all 240,000.
More...

Q. Are business schools teaching people to become investment bankers when the world doesn¡¯t need investment bankers any more?

A. There is truth in that. I¡¯m on the board of the Fuqua business school at Duke University, and we were just having this conversation at a board meeting. If you look at all the analytical tools they¡¯re teaching at the University of Chicago or at Wharton, they¡¯re teaching people how to become a great investment banker, but not necessarily how to manage and lead.
More...

Kevin is being way too optimistic on what business schools actually deliver.
 
http://uk.reuters.com/article/burningIssues/idUKTRE50F0KO20090116

NEW YORK (Reuters) - New York City will help laid-off Wall Streeters switch industries by training them for new jobs and will work with foundations to set up boot camps for entrepreneurs, Mayor Michael Bloomberg said on Thursday.
More...

Article goes on to talk about taxis in New York. Laid off bankers... entrepreneurs... cab drivers! But fret not, it will a BMW electric vehicle. Finally, an idea that works.
 
You must log in or register to reply here.
Back
Top