News & Events
The Barometer is smiling. Mr. Cohen, the trading rules are not your problem. Every single fund manager who was with you or formerly affiliated with your firm had top-notch training. Former SEC Chairman Harvey Pitt did some of the training for SAC Capital. Your training records reflected full participation by those traders and managers who were charged with insider trading. Your managers know the trading rules. The problem is culture. As a recent court decision and some dropped charges indicate, the traders had their toes to the line in terms of legality, but may not have crossed the line. The problem is a culture (more…)
Jonathan Burrows, a BlackRock fund manager for 20 years, has been banished from the finance industry by Britain’s financial regulator. The reason? Well, Mr. Burrows was commuting to work from the East Sussex to London — a one hour and 22-minute trek that should have cost him 21 pounds per trek. Instead, he boarded the train at a station that had no ticket barriers and then exited the train in London (more…)
Tom Brady, quarterback for the New England Patriots, in response to a question at his January 22, 2015 press conference on the deflated footballs controversy. The question was, “Did you cheat?”
The Barometer has learned, lo these many years of study, to watch the parsing. The belief that one did not cheat is not the same thing as, “I didn’t cheat.” Witness Lance Armstrong’s explanation of his denial (to Oprah) lo the many years (more…)
Cardale Jones. Ohio State quarterback, in 2012, on his Twitter account, following a sociology exam. Sadly, he is right about the college football culture, but wrong about the classes. For one thing, a good writing class could offer instruction on punctuation, “ain’t”, and the dangers of overuse of capitalization in one’s messages. Also, classes in finance could offer some money management tips and quite a few classes could offer insights into contracting and union rights — some mighty POWERFUL information for his forthcoming NFL days. Just a few thoughts as the bowl games begin.
The Barometer was strolling through the home section of a major department store. Tempted by Christmas potholders at 50% off, the Barometer stopped and soon planted feet firm to continue listening as three employees of this fine establishment conversed about their futures. The ring leader was explaining to the novice employees that after the new year begins, most of them would be going to part-time status because of slow sales, the economy, health care issues, etc. The two employees seemed crestfallen. But, their mentor would have none of it. “Don’t do it!” said he. “Get yourself fired because the money you make on unemployment will be better than part-time work here and you can get 99 weeks of unemployment. Plus, you are eligible for medical care through the government because you are unemployed. It’s a better deal. It is so not worth it to keep working.” This fine consigliore (more…)
Even the well seasoned Dillard’s manager was taken aback by this one. A customer brought in a pair of moderately expensive dress shoes, expressing a desire to return them because they just weren’t quite right. As the manager processed the order she checked inside the box to be sure that the shoes in the box were the shoes the matched the box – past experience dictated that follow-up on returns. The shoes were the correct ones for the box, but the customer had another issue. The shoes had masking tape on the bottom – masking tape that was dirty. When the manager returned to the customer (more…)