MWD what else is expected

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Aug 11, 2005 9:36 pm


So the lay off is already done! Whats next? Another round? How about management changes? Are we going to three regions? Is Sanchez out? What about the new president coming in January ?

Aug 11, 2005 10:06 pm

Do the math.  1000 FA's go, next is 300 SA's.  Can't touch supervisory branch managers unless they close offices.  Regional management may want to start picking their favorite branches to call home.

Aug 11, 2005 10:14 pm


What about Dan Cedero???? Bruce put him on the fast track...

Aug 11, 2005 10:20 pm

I think Cedro replaced Burke when he got the nod.  Both are from Florida where Alonso came from.  Interesting, Huh?  Sounds pretty secure to me.

Aug 12, 2005 12:42 pm

I heard there maybe another round of cuts. Also i thought Bruce was from the Atlanta area. Todays paper suggest the replacement for R.Harris is coming from Merrill or UBS. When that occurs you can rest assurred that they will be pouching upper managment from there respected firms. Trust me there will be turnover.

Aug 12, 2005 12:53 pm

There will be another round of cuts. MS needs to get down to 8000 broker sales force. There are another 1000 to go. Its a good thing in the long run. But just remember what Milton Friedman said-"in the long run we are all dead!"

Aug 12, 2005 2:33 pm

Do you guys also sell tips sheets for the track or maybe lucky lotto numbers?

Aug 12, 2005 3:21 pm

Any other relevent comments from the brain trust?

Aug 12, 2005 4:25 pm
assetgatherer:

Any other relevent comments from the brain trust?


Well, if there's going to wild speculation, why not make it about something we can all profit on?

Aug 12, 2005 7:17 pm

Before this cut, MS was already down to 9400 reps.  Based on what I saw, we are probably at 8000 now.

Aug 13, 2005 9:34 am

"Recently (4/2005), the Supreme Court ruled that older workers may sue their employers under the Age Discrimination in Employment Act for the employer's use of a practice or policy that, although non-discriminatory on its face, has a disproportionately negative impact on older employees as a group."


Age Discrimination in Employment Act of 1967?


My office let go nine 40+.  Last month they hired six in their 20's.  Does something smell bad?


Maybe MWD is going to write another big check to settle this matter.  MWD may think they were correct in the policy of using LOS, but the court still allows a case to be filed.  I'm sure we'll be seeing some sort of action soon. 


Aug 13, 2005 2:54 pm
rickmwd:

"Recently (4/2005), the Supreme Court ruled that older workers may sue their employers under the Age Discrimination in Employment Act for the employer's use of a practice or policy that, although non-discriminatory on its face, has a disproportionately negative impact on older employees as a group."


Age Discrimination in Employment Act of 1967?


My office let go nine 40+.  Last month they hired six in their 20's.  Does something smell bad?


Maybe MWD is going to write another big check to settle this matter.  MWD may think they were correct in the policy of using LOS, but the court still allows a case to be filed.  I'm sure we'll be seeing some sort of action soon. 




You'll be seeing this case laughed out of court.

Aug 13, 2005 4:28 pm

I believe MWD thought the damages jury award in Coleman Holdings v. Morgan Stanley were going to be laughed out of court.  Perelman is to one laughing.