Smith Barney---Krawcheck back, Thompson
Anyone think the letters Prince got from large producers about the payout cuts had anything to do with this?
Read John Churchill's piece today on this topic:
Apologies for the typo.
Smith Barney types, comments please on the change of command cerermony today.
Todd must have gotten the call Saturday morning at home, because he held
a conference call Friday in the pm and made no mention or any adieus.
Today only a brief memo about the departure, you know the usual “to
persue other interests” stuff.
Yeah, that's probably true. At least there weren't a bunch of emergency weekend BOD meetings like what MS had to do before Phil got the boot last spring!
Prince is feeling lots of heat for share price stagnation.
I also heard some SB advisors e-mailed him and/or wrote letters about that payout cut BS. One of these days wirehouse execs will learn not to bite the hands (revenue producers) that feed them.
"One of these days wirehouse execs will learn not to bite the hands (revenue producers) that feed them."
No, they won't. Wanna bet?
No, those greedy wirehouse execs will never learn not to mess with revenue producers.
If you give me 6.5 points I will take my Bears over those Colts in the big game. The spread's 7 in Vegas.
I guess the trader lads at Citi were elated that Thompson got a pink slip, too:
http://www.nypost.com (business section---Paul Tharp)
Another typo apology:
Todd Thomson (no P), not to be confused with Linda Thomsen (E instead of O).
“One of these days wirehouse execs will learn not to bite the hands (revenue producers) that feed them.”
No, they won't. Wanna bet?[/quote]
I think it is a case of Prince smartly leveraging the best people around him. Step 1: Insert Druskin. Step 2: Place Krawcheck in position of strength. Step 3: Insert all-star CFO.
We'll have to see if step 3 materializes.