If You Thought The Firing Scene in Jerry McGuire Was Public.

Black Diamond

http://www.nytimes.com/2012/03/14/opini ... .html?_r=1

polaris_x

dude is essentially describing the culture of most big multi-national corporations ...

Get_Right

Good article. As an insider, the writer has more credibility than most financial reporters. I dont think it will change much though.

81

just read it....good stuff.

i've been saying it for years...we have become a greedy nation/world

dougfloyd

When I saw the thread title I was picturing BD standing up on his desk with his goldfish in a bag quitting his job

EdsonNascimento

Ehh. Sounds like a disgruntled employee that didn't get a promotion or something who wants to leave, but has a non-compete, so he can't take his biggest clients with him (irony alert!), so goes public to get sympathy. I'd be more impressed if he announced he was giving away his Mercedes, Ferrari and the 2 "extra" houses he has (I have no idea what he has, just sayin').

There's obviously truth in what he says (but we already knew that). But, it's also 1 side of a story (the one we WANT to believe is 100% true b/c it fits our view of the world). Do we honestly believe this guy is out to save Goldman Sachs (which is the underlying theme)? And if not, what's his motive?

The one point he's clearly right about - when their clients leave, their day will be over. And, he's made a very public stance on that b/c he can't get his clients to come with him any other way. So, who's the self serving one?

But, alas, in the end, it is what it is. It's like when folks come to these forums to bid farewell.... Good riddance.

polaris_x

uhhh ... correct me if i'm wrong ... but he's the head of derivatives in europe, middle east and asia ... his job doesn't include clients ...

EdsonNascimento

polaris_x wrote:

uhhh ... correct me if i'm wrong ... but he's the head of derivatives in europe, middle east and asia ... his job doesn't include clients ...

So, he has no relationships he'd like to leverage into his new endeavor?

And, quite frankly, Goldman Sachs has probably made him rich enough that he doesn't even need anymore (irnoy alert!). But, that's not the point of someone like this. He needs to prove his point, so unless he destroys Goldman Sachs, he won't be happy. Which, I couldn't care less. Have at it. Destroy away. I'm not rich enough for that to matter.

And, like I said, there are truths to what he says. But, if he is the HEAD of DERIVATIVES, why are HIS subordinates talking like that? Doesn't that make him part of the problem?

polaris_x

EdsonNascimento wrote:

So, he has no relationships he'd like to leverage into his new endeavor?

And, quite frankly, Goldman Sachs has probably made him rich enough that he doesn't even need anymore (irnoy alert!). But, that's not the point of someone like this. He needs to prove his point, so unless he destroys Goldman Sachs, he won't be happy. Which, I couldn't care less. Have at it. Destroy away. I'm not rich enough for that to matter.

And, like I said, there are truths to what he says. But, if he is the HEAD of DERIVATIVES, why are HIS subordinates talking like that? Doesn't that make him part of the problem?

dude ... he's not going to take down goldman sachs with his rant ... don't be absurd ... his sole goal is to change the culture there ... which he's not gonna do either ...

sure, the guy is loaded ... can probably live in a cabana on the beach for the rest of his days writing a memoir ... no one is saying he's anything but ...

i just don't see how your perception of this guy matters ... you want to call him a fraud ... so be it ... but you know what he says is true so what does it matter?

Get_Right

I think he was vague enough so that the friends wouldnt be able to identify him, but that his supervisors would know exactly who wrote the letter. Its just commentary on the change in the culture from one person's perspective, no more, no less.

EdsonNascimento

polaris_x wrote:

dude ... he's not going to take down goldman sachs with his rant ... don't be absurd ... his sole goal is to change the culture there ... which he's not gonna do either ...

sure, the guy is loaded ... can probably live in a cabana on the beach for the rest of his days writing a memoir ... no one is saying he's anything but ...

i just don't see how your perception of this guy matters ... you want to call him a fraud ... so be it ... but you know what he says is true so what does it matter?

If that was his sole goal - why leave? Wouldn't it be better to be a true leader and help those internally that may be helpless (or at least more helpless). How about mentoring those interns?

Again, I don't care either way. You're right. And, I'm not calling him a fraud. I'm calling him a coward. If there was no reason to leave, and the poor interns are going to grow into monsters, why not be the change? No, instead, hightails it, publically bitches, and has 0 impact. So, either stay and be the change or be gone. Being a bitch about it changes nothing. We've all had bad bosses in our lives. We don't take out full page op-ed pieces that pander to the masses to moan about it.

Good riddance.

EdsonNascimento

Get_Right wrote:

I think he was vague enough so that the friends wouldnt be able to identify him, but that his supervisors would know exactly who wrote the letter. Its just commentary on the change in the culture from one person's perspective, no more, no less.

Didn't he sign his name at the bottom? I think we all know who he is.

81

you know a thread has a chance...when pele shows up. :P

Get_Right

EdsonNascimento wrote:

Get_Right wrote:

I think he was vague enough so that the friends wouldnt be able to identify him, but that his supervisors would know exactly who wrote the letter. Its just commentary on the change in the culture from one person's perspective, no more, no less.

Didn't he sign his name at the bottom? I think we all know who he is.

D'oh

:oops:

EdsonNascimento

81 wrote:

you know a thread has a chance...when pele shows up. :P

Gooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo
oooooooooooooooooooooooooooooooooooooooooooooooooooooooooooooo
ooooooooooooooolllllllllllllllllllllllllllllllllllllllllllllllllll!

polaris_x

EdsonNascimento wrote:

If that was his sole goal - why leave? Wouldn't it be better to be a true leader and help those internally that may be helpless (or at least more helpless). How about mentoring those interns?

Again, I don't care either way. You're right. And, I'm not calling him a fraud. I'm calling him a coward. If there was no reason to leave, and the poor interns are going to grow into monsters, why not be the change? No, instead, hightails it, publically bitches, and has 0 impact. So, either stay and be the change or be gone. Being a bitch about it changes nothing. We've all had bad bosses in our lives. We don't take out full page op-ed pieces that pander to the masses to moan about it.

Good riddance.

c'mon now ... not sure where your hate for this guy comes from ... you know he's got very little influence in changing the culture ... the executives have basically mandated brokers sell bad investments to clients ... sure, it's altruistic to believe one person can change a multi-national corporation like goldman sachs but the fact is that this op-ed has a waaaaaaay better shot of changing that culture than him working from the inside ... you don't think there are people at BP now who think that BP should be more responsible for the gulf!?? ... corporations like goldman sachs are always gonna be about the bottom line and shareholder value ... they dictate the culture ...

mickeyrat

EdsonNascimento wrote:

polaris_x wrote:

dude ... he's not going to take down goldman sachs with his rant ... don't be absurd ... his sole goal is to change the culture there ... which he's not gonna do either ...

sure, the guy is loaded ... can probably live in a cabana on the beach for the rest of his days writing a memoir ... no one is saying he's anything but ...

i just don't see how your perception of this guy matters ... you want to call him a fraud ... so be it ... but you know what he says is true so what does it matter?

If that was his sole goal - why leave? Wouldn't it be better to be a true leader and help those internally that may be helpless (or at least more helpless). How about mentoring those interns?

Again, I don't care either way. You're right. And, I'm not calling him a fraud. I'm calling him a coward. If there was no reason to leave, and the poor interns are going to grow into monsters, why not be the change? No, instead, hightails it, publically bitches, and has 0 impact. So, either stay and be the change or be gone. Being a bitch about it changes nothing. We've all had bad bosses in our lives. We don't take out full page op-ed pieces that pander to the masses to moan about it.

Good riddance.

seems the perfect way to go out. Let the world know INCLUDING THOSE CLIENTS , from an insider - high up at that, the company the trust with growing their money wants nothing more than to fuck them out of as much of it as they can. The company can blow smoke al the want about how client is king yadda yadda yadda. But here we have a upper management person telling it like it is. Good for him.

This piece was part love letter, part lament, part wake the fuck up and go back to what made you. It will all fall on deaf ears.

EdsonNascimento

mickeyrat wrote:

seems the perfect way to go out. Let the world know INCLUDING THOSE CLIENTS , from an insider - high up at that, the company the trust with growing their money wants nothing more than to fuck them out of as much of it as they can. The company can blow smoke al the want about how client is king yadda yadda yadda. But here we have a upper management person telling it like it is. Good for him.

This piece was part love letter, part lament, part wake the fuck up and go back to what made you. It will all fall on deaf ears.

You don't think THOSE CLIENTS already know his feelings?

Here's a guy who put an op-ed piece in the NYT. Do you really believe he's kept his mouth shut to his closest "friends?"

Ehh. Like I said. I don't care. I think this has 0 impact. Everyone knows the customer/client is king and if you treat them poorly, they will leave. This op-ed doesn't change that.

What exact VALUE did this add to the public domain? I say 0 b/c he didn't say something I didn't already knew exists. Do I think it's as pervasive as he makes it sound? Maybe. But, his credibility is sort of shot when I'm looking at his back while he's running away screaming that he doesn't like the way his bosses do things.

If he wants to give me one of his yachts to prove his altruism, then we're talking!

EdsonNascimento

polaris_x wrote:

EdsonNascimento wrote:

If that was his sole goal - why leave? Wouldn't it be better to be a true leader and help those internally that may be helpless (or at least more helpless). How about mentoring those interns?

Again, I don't care either way. You're right. And, I'm not calling him a fraud. I'm calling him a coward. If there was no reason to leave, and the poor interns are going to grow into monsters, why not be the change? No, instead, hightails it, publically bitches, and has 0 impact. So, either stay and be the change or be gone. Being a bitch about it changes nothing. We've all had bad bosses in our lives. We don't take out full page op-ed pieces that pander to the masses to moan about it.

Good riddance.

c'mon now ... not sure where your hate for this guy comes from ... you know he's got very little influence in changing the culture ... the executives have basically mandated brokers sell bad investments to clients ... sure, it's altruistic to believe one person can change a multi-national corporation like goldman sachs but the fact is that this op-ed has a waaaaaaay better shot of changing that culture than him working from the inside ... you don't think there are people at BP now who think that BP should be more responsible for the gulf!?? ... corporations like goldman sachs are always gonna be about the bottom line and shareholder value ... they dictate the culture ...

Really? An op-ed piece has a better chance of creating change then actually working on the INSIDE? That's an interesting take. I know when I leave my company, I stop having any impact. I guess next time, I'll leave unprofessionally, so I can have a greater impact.....

81

EdsonNascimento wrote:

Really? An op-ed piece has a better chance of creating change then actually working on the INSIDE? That's an interesting take. I know when I leave my company, I stop having any impact. I guess next time, I'll leave unprofessionally, so I can have a greater impact.....

it's true, once you are gone you are gone...and you get blamed for everything

i can see the OWS movement latching on to this piece/guy and pointing at wall street, we told you so.

unlost dogs

Greg Smith is resigning today as a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa.

I'm betting he cleaned his desk out before he clicked "SUBMIT."