Word: banking
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There was Bank of America chief Ken Lewis, who, after reporting setbacks in his attempts to turn the bank into a major force on Wall Street, declared, "I've had all the fun I can stand in investment banking at the moment." And after Citigroup announced a nearly 60% drop in earnings, Deutsche Bank analyst Mike Mayo more or less asked CEO Chuck Prince why he hadn't been fired. Prince's response: "If you look at the strategic plan that we are executing on, I think any fair-minded person would say that strategic plan is working...
...everyone agreed, and Prince pushed aside James Cayne of Bear Stearns--the investment bank that started Wall Street's summer of pain when two hedge funds it managed nearly imploded in June--as the subject of the industry's most feverish when-will-he-go talk. Citi was far from alone in its troubles. BofA (profits down 32%) and Wachovia (down 10%) had bad quarters too, as did investment banks Morgan Stanley (down 7%) and Merrill Lynch (which recorded a loss...
...Warsaw is limited to the historic places of the city center: the Old Town, the Royal Castle and the absurdly outsized Stalin-era Palace of Culture. It's all worthy fare, but for a different take on Poland's buzzing capital, hop over to the right, or eastern, bank of the Vistula River to explore the Praga district. The rough-edged, working-class neighborhood has recently turned into a funky haven for artists and a new focal point for the city's cultural and nightlife...
Spared the thorough destruction suffered by left-bank Warsaw in WW II, the area has preserved the 19th and early 20th century buildings not found elsewhere in the Polish capital. Under communism, it became home to the poorest of the poor, and its petty crime scared off most Varsovians...
...event, there are several things wrong with WIB’s choice of motto. The slogan undermines a fundamental principle of the model workplace: Your looks ought not to matter when it comes to your career prospects. Acknowledging the fact that showing up to your job at an investment bank in sweatpants and Birkenstocks would be a poor move, what matters most in a job is how well you do it, not how well you dress...