Inventory Clearance - Up To 40% Off '09 Road Bike Gear At RealCyclist.com. Expires Soon.
 

Lijit Search

Richard Sachs Cycles

Still not happy …

… but at least there’s a semi-reasonable explanation for the most widely reported statistic regarding 2010 compensation; one that I can live with if I have to. Now, if we could just get our stock back out of the doldrums and performing again, at least my worries about the future would diminish, even while I’m [...]

As Wall Street Rebounds, So Does Top Pay (but not mine)

NEW YORK (Dow Jones)–Morgan Stanley paid employees an average of $256,595 each in 2010, an increase of 7.5% from 2009.

The firm set aside $16 billion for compensation and benefits last year, an overall 11% increase from the previous year as net revenue jumped 15%. Morgan Stanley has 62,542 employees, an increase of 3% from [...]

MS CEO calls for reforms (with limits)

The firm’s annual shareholder meeting was today … buried deep in the story from the Wall Street Journal were the following paragraphs regarding comments made by Morgan Stanley CEO James Gorman.

In the meeting, a brisk one hour compared with Goldman Sachs‘ three-hour marathon, Mr. Gorman also said Morgan Stanley was committed to regulatory reform. [...]

Buy buy buy!

Combine one part nervous traders, one part Greek crisis and one part trader error. Stir in one part central bank complacency. Bring to boil. Panic.

That combination produced one of the wildest days ever in financial markets, with the Dow Jones industrial average, at one point, down almost 1,000 points while the euro sank to [...]

Morgan Stanley Earnings: Morgan Stanley Tops Profit, Revenue Estimates - CNBC

Sweet … maybe I’ll actually get a raise this next year …

Morgan Stanley profit blew past forecasts Wednesday, with revenue surging, mainly due to an increase in sales and trading revenues.

Morgan Stanley’s net income per diluted share, including discontinued operations, was 99 cents a share in the first quarter, compared with a net [...]

Let’s talk compensation … and customer service.

You know what I find frustrating? From today’s Wall Street Journal:

And now, for what you’ve all been waiting for: Morgan Stanley’s compensation totals:

Sure, the bank’s swing to a fourth-quarter profit of $617 million gets all the headlines, but here at Deal Journal, our eyes naturally seek out the compensation line on that profit [...]

Pay for pay?

You’ve heard of pay-for-play, right? How about pay-for-pay?

Here’s an idea that seems to make some sense. Don’t limit Wall Street pay and bonuses, but require higher FDIC premium payments if a bank’s pay structure is deemed to be “risky”, such as incentive bonuses for writing more loans (which leads to bankers writing riskier loans).

[...]

An interesting take

David Weidner’s Writing on the Wall: Bill Clinton’s legacy is our financial disaster – MarketWatch

… the biggest mistake of the Clinton years regarding Wall Street and the one that rings loudest today was the repeal of Glass-Steagall, a 1933 law that effectively split investment banking and brokerages from commercial banks.

In the years leading [...]

Morgan Stanley to Raise $2.2 Billion in Bid to Exit TARP

Not entirely happy by the potential dilution to my stake in my company, but certainly happy that if all goes as planned, we will be able to exit TARP by month-end.

Morgan Stanley to Raise $2.2 Billion in Bid to Exit TARP – WSJ.com

Morgan Stanley plans to raise $2.2 billion stock offering, in a [...]

Stress!

Now I know why the A-Train hates Goldman Sachs so much … looks like all the Goldman alums in guv-mint decided to give them a bigger break than they gave Morgan Stanley in determining worst-case scenarios in the recent stress tests performed by the Federal Reserve.

Goldman’s Test Stresses Morgan Stanley

Why did the stress [...]