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Author Topic: Barclays Cuts 12,000 Jobs, Ups Bonuses 10%
IWISHIHAD
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LONDON — Britain's second-largest bank by assets Barclays is to cut 12,000 jobs, the firm's chief executive said on a conference call Tuesday.

Antony Jenkins confirmed the job losses as the bank said it had increased bonus payments by 10% in 2013 to $3.9 billion.

The job losses and bump in payments came on a day when Barclays announced that annual operating profit for 2013 at its key investment banking unit slumped 37% to $4.1 billion.

"We pay for performance and we pay competitively," Jenkins, 52, said in an interview with BBC radio. "It goes back to having the best talent across the world to serve our clients and customers."

Around half of the job losses, which are aimed at cutting costs as the bank continues to reshape its business, will be in Britain.

The company employs about 140,000 people around the world from Singapore to San Francisco.

Shares in Barclays declined around 2% in London-listed trading following the announcement.

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CashCowMoo
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quote:
Originally posted by IWISHIHAD:
LONDON — Britain's second-largest bank by assets Barclays is to cut 12,000 jobs, the firm's chief executive said on a conference call Tuesday.

Antony Jenkins confirmed the job losses as the bank said it had increased bonus payments by 10% in 2013 to $3.9 billion.

The job losses and bump in payments came on a day when Barclays announced that annual operating profit for 2013 at its key investment banking unit slumped 37% to $4.1 billion.

"We pay for performance and we pay competitively," Jenkins, 52, said in an interview with BBC radio. "It goes back to having the best talent across the world to serve our clients and customers."

Around half of the job losses, which are aimed at cutting costs as the bank continues to reshape its business, will be in Britain.

The company employs about 140,000 people around the world from Singapore to San Francisco.

Shares in Barclays declined around 2% in London-listed trading following the announcement.

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Is this illegal or something?
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raybond
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no it is not illegal it is a terrible shame. And a lot of hurt for those that are cut.

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CashCowMoo
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It is ray. Its a cruel world out there and trying to make everyone and everything "equal" is not going to work.

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It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

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glassman
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quote:
Originally posted by CashCowMoo:
It is ray. Its a cruel world out there and trying to make everyone and everything "equal" is not going to work.

what does "equality" have to do with it cashcow?

you have sat right here at your screen and been told what's going on out there.

'cruel' doesn't come close to describing the sheer stupidity of what's been going on. nature is cruel. Lions eat meat, they shred each other as they rend their meals. that's cruel. The way the economy has been mismanaged and milked is worse than cruel. There is so much self-destructive behavior going on that even the wealthy are going to lose out in the long run. For some strange reason they seem to beleive they can expect a few billion Chinese consumers to take the place of the American middle class. House Chin has no such plan.
Another JPMorgan Banker Dies, 37 Year Old Executive Director Of Program Trading
Tyler Durden's picture
Submitted by Tyler Durden on 02/12/2014 11:09 -0500

FINRA
Ohio
Program Trading
program trading


inShare11



Ordinarily we would ignore the news of another banker's death - after all these sad events happen all the time - if it wasn't for several contextual aspects of this most recent passage. First, the death in question, as reported by the Stamford Daily Voice is that of Ryan Henry Crane, a Harvard graduate, who is survived by his wife, son and parents at the very young age of 37. Second, Ryan Henry Crane was formerly employed by JPMorgan - a bank which was featured prominently in the news as recently as two weeks ago when another of its London-based employees committed suicide by jumping from the top floor of its Canary Wharf building. Third: Crane was an Executive Director in JPM's Global Program Trading desk, founded in 1999 by an ex-DE Shaw'er, a function of the firm which is instrumental to preserving JPM's impeccable and (so far in 2013) flawless trading record of zero trading losses.

There was little detail surrounding the death:


apparently he "killed himself" with a nail gun? Oky Doky.....

that's the fifth in the last few weeks...

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raybond
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Cash not even your stupid remarks can piss me off today. I have had a 25% gain on a big investment.

And as for reminding me it is a cruel world you must have forgot what I have done for a living. I have seen enough of cruel for the rest of my life.

You on the other hand have never had to take on raising , protecting , and providing for a family. yet you lecture others about the conditions of the world, Start acting like an adult and live life.

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CashCowMoo
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quote:
Originally posted by raybond:
Cash not even your stupid remarks can piss me off today. I have had a 25% gain on a big investment.

And as for reminding me it is a cruel world you must have forgot what I have done for a living. I have seen enough of cruel for the rest of my life.

You on the other hand have never had to take on raising , protecting , and providing for a family. yet you lecture others about the conditions of the world, Start acting like an adult and live life.

Thanks for the story. I would tell you mine, but its not really comparable.
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glassman
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hmmmm.....



SEVENTH Banker Suicide: Man leaps to death from JP Morgan's Hong Kong headquarters
George Chen
South China Morning Post
Tue, 18 Feb 2014 06:11 CST
Map Print


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glassman
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OK.

there's more. i dunno how to 'quanitze' all of this, there's even more that i hadn't heard about.

it is high stress job and maybe this isn't really unusual it's just that people are beginning to keep count;

The missing and the dead: a timeline

The following is provided as a chronological list of those who have gone missing or been found dead under mysterious circumstances. It is important to note that this list consists of names of the most recent incidents. There are more that extend back through 2012 and beyond.

January 11, 2014

MISSING: David Bird, 55, long-time reporter for the Wall Street Journal working at the Dow Jones news room, went for a walk on Saturday, January 11, 2014 near his New Jersey home and disappeared without a trace. Mr. Bird was a reporter of the oil and commodity markets which happened to be under investigation by the U.S. Senate Permanent Subcommittee on Investigations for price manipulation.

January 26, 2014

DECEASED: Tim Dickenson, a U.K.-based communications director at Swiss Re AG, was reportedly found dead under undisclosed circumstances.

DECEASED: William Broeksmit, 58, former senior manager for Deutsche Bank, was found hanging in his home from an apparent suicide. It is important to note that Deutsche Bank is under investigation for reportedly hiding $12 billion in losses during the financial crisis and for potentially rigging the foreign exchange markets. The allegations are similar to the claims the institution settled in 2013 over involvement in rigging the Libor interest rates.

January 27, 2014

DECEASED: Karl Slym, 51, Managing director of Tata Motors was found dead on the fourth floor of the Shangri-La hotel in Bangkok. Police said he "could" have committed suicide. He was staying on the 22nd floor with his wife, and was attending a board meeting in the Thai capital.

January 28, 2014

DECEASED: Gabriel Magee, 39, a JP Morgan employee, died after reportedly "falling" from the roof of its European headquarters in London in the Canary Wharf area. Magee was vice president at JPMorgan Chase & Co's (JPM) London headquarters.

Gabriel Magee, a Vice President at JPMorgan in London, plunged to his death from the roof of the 33-story European headquarters of JPMorgan in Canary Wharf. Magee was involved in "Technical architecture oversight for planning, development, and operation of systems for fixed income securities and interest rate derivatives" based on his online Linkedin profile.

It's important to note that JPMorgan, like Deutsche Bank, is under investigation for its potential involvement in rigging foreign exchange rates. JPMorgan is also reportedly under investigation by the same U.S. Senate Permanent Subcommittee on Investigations for its alleged involvement in rigging the physical commodities markets in the U.S. and London.

Regarding the initial reports of his death, journalist Pam Martens of Wall Street on Parade astutely exposed the controlled, scripted details of the media accounts surrounding Magee's death in an article written on February 9, 2014. Ms. Martens writes:

"According to numerous sources close to the investigation of Gabriel Magee's death, almost nothing thus far reported about his death has been accurate. This appears to stem from an initial poorly worded press release issued by the Metropolitan Police in London which may have been a result of bad communications between it and JPMorgan or something more deliberate on someone's part."

[Emphasis added].

Ms. Martens also notes:

No solid evidence exists currently to suggest that the death was a suicide. In fact, there is a strong piece of evidence pointing in the opposite direction. Magee had emailed his girlfriend, Veronica, on the evening of January 27 to say that he was about to leave the office and would see her shortly.

Based on information she developed, it appears likely that Magee did not meet his fate on the morning his body was discovered, but hours earlier. Considering the possibility that Magee might now have died in the manner publicized, Ms. Martens offers speculation, and notes it as such:

If Magee became aware that incriminating emails, instant messages, or video teleconferences were not turned over in their entirety to Senate investigators or Justice Department prosecutors, that might be reason enough for his untimely death.

Looking at the death of Magee in the context of a larger conspiracy, it is difficult not to suspect foul play and media manipulation.

January 29, 2014

DECEASED: Mike Dueker, 50, who had worked for Russell Investment for five years, was found dead close to the Tacoma Narrows Bridge in Washington State. Dueker was reported missing on January 29, 2014. Police stated that he "could have" jumped over a fence and fallen 15 meters to his death, and are treating the case as a suicide.

Before joining Russell Investments, Dueker was an assistant vice president and research economist at the Federal Reserve Bank of St. Louis from 1991 to 2008. There he served as an associate editor of the Journal of Business and Economic Statistics and was editor of Monetary Trends, a monthly publication of the St. Louis Federal Reserve.

In November 2013, the New York Times reported that Russell Investments was one of several investment companies that were under subpoena from New York State regulators investigating potential "pay-to-play" schemes involving New York pension funds.

February 3, 2014

DECEASED: Ryan Henry Crane, 37, was the Executive Director in JPMorgan's Global Equities Group. Of particular relevance is that Crane oversaw all of the trade platforms and had close working ties with the now deceased Gabriel Magee of JPMorgan's London desk. The ties between Mr. Crane and Mr. Magee are undeniable and outright troublesome. The cause of death has not yet been determined, pending the results of a toxicology report.

February 6, 2014

DECEASED: Richard Talley, 57, was the founder and CEO of American Title, a company he founded in 2001. Talley and his company were under investigation by state insurance regulators at the time of his death. He was found in the garage of his Colorado home by a family member who called authorities. Talley reportedly died from seven or eight "self-inflicted" wounds from a nail gun fired into his torso and head.


and then there is today's jumper in HongKong...

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buckstalker
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Hmmmm...."hush em up" tactics, "vigilante revenge" or "remorseful suicide"

Sure doesn't appear coincidental...and I doubt it's the latter

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glassman
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i have to wonder about how a guy shoots 7 or 8 framing nails into himself.

bullets kill mostly from delivery of energy which causes sveere blood pressure issues and blood loss from the bullet "canal" is secondary (but important). The shock from a couple of framing nails should make it unlikely that the guy would get off 4 or 5 more, but the right chemical cocktail could slow down the effects of shock....
we are prolly seeing some people being sanctioned and some people who just got themsleves in too deep.
There were witnesses today for the jumper in HongKong - they say the cops tried to talk him down...

high stress jobs losing Other People Money? some suicides are going to happen, but this is looking like a big cluster. somethng is coming...

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Don't envy the happiness of those who live in a fool's paradise.

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buckstalker
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I got shot (accidentally) in the hand with a framing nailer once...the nail hit the bone in my lower thumb at an angle and bounced off, but the shock (and pain) that I felt from it nearly made me pass out...it took me a good 5 minutes before I was able to continue working.

I DON'T believe for a minute that anyone could shoot themselves more than once or twice with a freaking nail gun...

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It's all in the timing...

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rounder1
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not relevant at all but concerning self induced injuries with nail guns. There used to be a Mobil Home Manufacturing plant in my hometown. They eventually had issues with workers shooting themselves intentionally to try and get Workman's Comp and or Disability....conversation just made me remember that going on back in the 90's

I agree that suicide by nail gun seems highly unlikely....the mobile home guys new where and where not to shoot themselves.

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