{"id":883,"date":"2009-03-10T16:50:10","date_gmt":"2009-03-11T00:50:10","guid":{"rendered":"http:\/\/hodakvalue.com\/blog\/?p=883"},"modified":"2009-03-11T08:40:40","modified_gmt":"2009-03-11T16:40:40","slug":"where-else-could-they-go","status":"publish","type":"post","link":"http:\/\/hodakvalue.com\/blog\/where-else-could-they-go\/","title":{"rendered":"Where else could they go?"},"content":{"rendered":"<p>Remember the withering criticism of retention awards for the Smith Barney brokers?\u00a0 You can get reminders <a href=\"http:\/\/www.huffingtonpost.com\/2009\/02\/11\/bailout-recipients-giving_n_165624.html\">here<\/a>, <a href=\"http:\/\/www.democraticunderground.com\/discuss\/duboard.php?az=view_all&amp;address=102x3774553\">here<\/a>, <a href=\"http:\/\/www.cnn.com\/2009\/POLITICS\/02\/11\/campbell.brown.bailout\/\">here<\/a>, &#8230;<\/p>\n<p>The gist of the critiques was nothing so sophisticated as the need to actually retain people.\u00a0 It was more on the order of grunts about &#8220;greed,&#8221; &#8220;pay for failure,&#8221; and &#8220;taxpayer theft,&#8221; etc.<\/p>\n<p>At the higher end of this discussion were comments like <a href=\"http:\/\/www.huffingtonpost.com\/2009\/02\/11\/bailout-recipients-giving_n_165624.html?show_comment_id=20874588#comment_20874588\">this<\/a>:<\/p>\n<blockquote><p>Where the heck are they going to go, if no bonuses (excuse me, rewards) are paid? I am talking about the &#8220;great&#8221; talent of Wall St that created such a nice and once-in-a-lifetime crisis. OK, some will leave, whatever. Most won&#8217;t. We are in a deep recession and even such &#8220;great&#8221; talent may not find alternatives easy.<\/p><\/blockquote>\n<p>So, how big of a retention risk did Smith Barney really have?\u00a0 Well, <a href=\"http:\/\/www.thedeal.com\/dealscape\/2009\/03\/smith_barney_brokers_flee.php\">this big<\/a>.\u00a0 SB has lost hundreds of brokers, to UBS, Wachovia, Raymond James, Oppenheimer, etc.&#8211;539 financial advisors so far this year.\u00a0 The ones they lost included the best-performing, and relatively best rewarded people.\u00a0 Most of the ones who remain had gotten no retention awards.\u00a0 They will get used to that as they find themselves working for a government entity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Remember the withering criticism of retention awards for the Smith Barney brokers?\u00a0 You can get reminders here, here, here, &#8230; The gist of the critiques was nothing so sophisticated as the need to actually retain people.\u00a0 It was more on the order of grunts about &#8220;greed,&#8221; &#8220;pay for failure,&#8221; and &#8220;taxpayer theft,&#8221; etc. At the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-883","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/883","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/comments?post=883"}],"version-history":[{"count":5,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/883\/revisions"}],"predecessor-version":[{"id":886,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/posts\/883\/revisions\/886"}],"wp:attachment":[{"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/media?parent=883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/categories?post=883"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/hodakvalue.com\/blog\/wp-json\/wp\/v2\/tags?post=883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}