Monday, April 18, 2005

Morgan Stanley Continues to Flail

  • Hoping to Steal Some Talent, Rivals Circle Morgan Stanley [NYT]

    Among the rainmakers pursued by competitors has been Stephen R. Munger, chairman of the bank's mergers and acquisitions department, who has been approached by Merrill Lynch, Goldman Sachs and others, according to bankers who have been briefed on the situation. Other top mergers and acquisitions bankers, including Paul J. Taubman and Raymond J. McGuire, are considered prize targets of rival firms, too, these bankers say....

    With Mr. Purcell's new focus on loyalty - Mr. Pandit was forced out because he declared his fidelity to Morgan Stanley, not Mr. Purcell - and the rapid promotion of Stephen S. Crawford and Zoe Cruz to co-presidents, many investment bankers claim that the firm's spirit of meritocracy is fading.

    Hmmm, looks like the brain drain is going to continue.. What's more important loyalty or meritocracy?
  • Bloggers aren't safe! [NYT]

    As the practice of blogging has spread, employees like Mr. Kennedy are coming to the realization that corporations, which spend millions of dollars protecting their brands, are under no particular obligation to tolerate threats, real or perceived, from the activities of people who become identified with those brands, even if it is on their personal Web sites.

    They are also learning that the law offers no special protections for blogging - certainly no more than for any other off-duty activity.

  • Mark Jen’s life @ Plaxo
    Former Google employee, new Plaxo employee. Another "dooced".