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Horrible economic news. This makes me sad

Discussion in 'Sports and News' started by poindexter, Sep 19, 2011.

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  1. poindexter

    poindexter Well-Known Member

    UBS Bonuses at Risk as $2.3 Billion Trading Loss Erases Profit

    http://www.businessweek.com/news/2011-09-18/ubs-bonuses-at-risk-as-2-3-billion-trading-loss-erases-profit.html

    I'm worried about them retaining their best and brightest.
     
    poindexter, Sep 19, 2011
    #1
  2. LongTimeListener

    LongTimeListener Well-Known Member

    I really feel sorry for their maids and gardeners, who obviously are going to need to take pay cuts. We all must share the sacrifice.

    Job creators!
     
    LongTimeListener, Sep 19, 2011
    #2
  3. black dude with pompano

    black dude with pompano Member

    Why do bad things happen to RICH people??!!
     
    black dude with pompano, Sep 19, 2011
    #3
  4. D-3 Fan

    D-3 Fan Well-Known Member

    Think of the children!! They need their Christmas gifts this year!!!!!!!
     
    D-3 Fan, Sep 19, 2011
    #4
  5. Azrael

    Azrael Well-Known Member

    The super-rich laugh and laugh at the struggles of the merely rich. A bonus? "Ha ha," laugh the super-rich. "Ha-ha."
     
    Azrael, Sep 19, 2011
    #5
  6. dooley_womack1

    dooley_womack1 Well-Known Member

    CLASS WARFARE!!!11!!
     
    dooley_womack1, Sep 19, 2011
    #6
  7. Bob Cook

    Bob Cook Active Member

    When Howard Beale hears of this, he'll be mad as hell and won't take it anymore.
     
    Bob Cook, Sep 19, 2011
    #7
  8. The Big Ragu

    The Big Ragu Moderator Staff Member

    Hysterical stuff. Some idiot creates more than $2 billion in losses that will cause more layoffs, on top of the 5,000 employees who lost their jobs this summer because the company was already looking at a loss for the year. And that second-year analyst earning $75K, who was hoping for another $15K from the bonus pool won't be seeing it--if his job is still there on Monday. Fuck him. Let's all have a laugh over it. It's almost as funny as those saps who got screwed by Bernie Madoff. Ha ha to them too.

    Forget the bonus pool, which is probably going to be entirely clawed back. Thousands of people--you know, the types with mortgages and food bills and kids--are going to be losing their jobs soon. Not everyone at UBS is an MD pulling down $180K. Not that that guy losing his bonus, and possibly his job, is all that funny, anyhow.

    This board has some seriously miserable fucks. Imagine how you'd feel if there was a message board full of jackals somewhere making jokes about the layoffs at the LA Times.
     
    The Big Ragu, Sep 19, 2011
    #8
  9. LongTimeListener

    LongTimeListener Well-Known Member

    So what special skills do these geniuses bring that they got hoodwinked at a time when their only, only, ONLY function was "make sure you don't get hoodwinked"?
     
    LongTimeListener, Sep 19, 2011
    #9
  10. micropolitan guy

    micropolitan guy Well-Known Member

    I expect if they eliminated the bonuses of the highest-paid 20 or so employees, who are earning more than enough money to get by with two houses, a yacht and five cars, they'd have enough to pay the bonuses of those poor schleps struggling to get by at $75 K in their second year as an analyst.

    More than 220,000 teachers have lost their jobs this year, 90 percent of them could only dream of making $75K, and they actually make a difference in someone's lives. I'll save my sympathy for them, even if they're evil because they're public employees who belong to a union, not some group of speculators/hedge fund managers/market manipulators.
     
    micropolitan guy, Sep 19, 2011
    #10
  11. The Big Ragu

    The Big Ragu Moderator Staff Member

    "These genuises"? You are clueless. UBS is more than inept management team. It employees between 50,000 and 70,000 people worldwide. Like the programmer who earns $73K and is going to be losing his job next month. Or the financial advisor who earns $66K and won't be getting that bonus he was hoping for. Or the business banking advisor who earns $80K and is sweating his job today. Or the HR person who earns $75K and may or may not have a job next month. And that senior fixed income analyst who earns $100K and won't be seeing a bonus, which was a significant portion of his expected compensation.

    Funny fucking stuff. I'll put the over / under at another 5,000 layoffs announced within the next month. Do you want to organize the party?
     
    The Big Ragu, Sep 19, 2011
    #11
  12. dixiehack

    dixiehack Well-Known Member

    Big deal. They can always get on at Subway and learn the vendors.
     
    dixiehack, Sep 19, 2011
    #12
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