Changes at MS

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Mar 29, 2006 6:14 pm

Many changes at MS, departing executives who could not have gotton a job elsewhere if not at morgan, new faces from merrill and more to come. Next to come is closing of branches and consolidation.

Mar 29, 2006 6:20 pm

ummm..... thanks????? These are things we have all known for 2 months.....

Mar 29, 2006 6:55 pm

I like the changes so far.  Morale has improved.  How do you think Gorman will decide on branch closings and consolidation?  Profitability or proximity to other branches?  He has said over and over that there will be no more cuts, only natural attrition.  Do you buy into it? 

Mar 29, 2006 7:40 pm

I've wondered about the office closings. Sure, closing an office or two, in a city with multiple offices is easy. What about closing an office with the nearest other office being 100 miles away? Do the brokers of the closed office commute? Work out of their home/car?


If it were me, I'd change firms.

Mar 29, 2006 11:05 pm

if i were you, i wouldnt have posted such a stupid comment



Think in terms of common sense, if your branch is profitable and in an
area which produces good business, you will most likely be fine. 
If you are in an area which is not up to the new MS standards, it will
close.  Chances are, if they close your branch and the closest
branch is 100 miles away, you are
better off at another firm.  But if you were a profitable broker
(not talking about 250 in gross) they will keep you on and you can do
whatever you want.  I mean, they arent going to just close
branches and get rid of big producers, that would be ridiculous. 
If you truly are a good broker with a good book and a good business...a
top notch business, you will be fine.

Mar 30, 2006 6:17 pm
MWD123:

I like the changes so far.  Morale has improved.  


NO! NO! NO! NO!


What are you talking about? Kristen French has at least a dozen more scare articles lined up where she quotes recruiters (now, they wouldn't have an agenda, would they? ) and a college professor (wtf?) to tell the tale of how awful it is at MS and how everyone is scared to death, jumping ship and shorting the shares of the company stock. 


Seriously, did someone from MS piss in her Weaties? 

Mar 30, 2006 7:58 pm

Diplomaticos:if i were you, i wouldnt have posted such a stupid comment

-------------------------------------


Hey DIP, it wasn't a comment, it was a question. No comprende ENGLISH?


Maybe, you can enlighten me, since my QUESTION (not comment) was so far below your "presumed" level of intelligence. Have you witnessed the closing of a brokerage office housing multiple brokers, with no other office within a reasonable driving distance? Did a few. most, or all the brokers transfer to the new office? Did the firm enforce their noncompete clause against those brokers who left? Did the brokers who stayed have to work out of their home/car most of the time?


Next time I post, I'll precede any question with the word: "QUESTION" and then highlight the question mark "?", so there's no mistaking it for a question. Comprende? 


Oh, and if you have no personal experience with the situations posed in the above questions, I suggest you think FIRST before posting your STUPID comments.

Apr 2, 2006 4:48 pm

you must do so much gross to talk to someone that way.



"If it were me, I'd change firms."



I am sorry, I didnt think that was a question, usually when someone
puts a period at the end of a sentence it is a comment.  I dont
know.  The way you talk, you must be a really really really big
producing broker.

Apr 3, 2006 2:20 pm

what do you guys see as far as MS taking on new trainees?

Apr 3, 2006 2:25 pm
SethDavis:

what do you guys see as far as MS taking on new trainees?



Yes, they are hiring a "limited number" of trainees.

But they're also having a difficult time retaining the good ones.

Apr 3, 2006 3:33 pm
JCadieux:
SethDavis:

what do you guys see as far as MS taking on new trainees?



Yes, they are hiring a "limited number" of trainees.

But they're also having a difficult time retaining the good ones.


You mean a hard time keeping the successful trainees onboard? What do you base that on?

Apr 3, 2006 3:46 pm

yes, and do either of you feel that MS will be actively recruiting now or in the near future?

Apr 3, 2006 3:55 pm
SethDavis:

yes, and do either of you feel that MS will be actively recruiting now or in the near future?


They're actively recruiting producers, but there will be very few trainee slots to be filled, however.

Apr 4, 2006 8:52 am

...MORE CUTS YESTERDAY...

Apr 4, 2006 9:57 am
frumhere:

...MORE CUTS YESTERDAY...


I must have missed them, what sort?

Apr 4, 2006 11:40 am

They've been bringing over some big teams recently.  Check who's moving.  MS is paying big bucks and fixing many of the issues they had previously.  No one's perfect, but it's a step in the right direction.


Gorman will have them on the recruiting warpath.

Apr 4, 2006 12:07 pm

more regional positions

Apr 4, 2006 12:28 pm
frumhere:

more regional positions




Ahh, the dust settling from the cuts in regions and districts....

Apr 4, 2006 3:14 pm
mikebutler222:
JCadieux:



Yes, they are hiring a "limited number" of trainees.

But they're also having a difficult time retaining the good ones.


You mean a hard time keeping the successful trainees onboard? What do you base that on?



Successful trainees keep calling and asking me to help them find better jobs.

Apr 4, 2006 3:17 pm

Of the past 6 hires into our training program, 5 have been from MS here in town. And 4 of them are actually good and will probably make it...