New York to Spend $45 Million to Retrain Laid-Off Wall Streeters
Started by stevejhx
over 17 years ago
Posts: 12656
Member since: Feb 2008
Discussion about
Just as Michigan is scrambling to retrain laid-off auto workers, New York City officials have come up with a plan to find new work for the unemployed of its core industry: investment banking. Under a program Mayor Michael R. Bloomberg unveiled on Wednesday, the city wants to invest $45 million in government money to retrain investment bankers, traders and others who have lost jobs on Wall Street,... [more]
Just as Michigan is scrambling to retrain laid-off auto workers, New York City officials have come up with a plan to find new work for the unemployed of its core industry: investment banking.
Under a program Mayor Michael R. Bloomberg unveiled on Wednesday, the city wants to invest $45 million in government money to retrain investment bankers, traders and others who have lost jobs on Wall Street, as well as provide seed capital and office space for new businesses those laid-off bankers might create.
http://www.nytimes.com/2009/02/19/nyregion/19bankers.html?hp
Yet another colossal waste of money.
I say have Stan O'Neal, Dick Fuld, and John Thain contribute some of their bonuses as seed money, instead of me.
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Response by petrfitz
over 17 years ago
Posts: 2533
Member since: Mar 2008
if evillager needs a job then i need someone to pick up the dog crap in my backyard. he lives nearby and i believe his junior trading skills are commersurate with the task.
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Response by JuiceMan
over 17 years ago
Posts: 3578
Member since: Aug 2007
What are they training them to do?
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Response by liquidpaper
over 17 years ago
Posts: 309
Member since: Jan 2009
"welcome to mcdonald's . . . may I take your order? . . . please drive around" = standard joke on our trading floor 'cause so many people wear headsets like they do at the drive up windows
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Response by w67thstreet
over 17 years ago
Posts: 9003
Member since: Dec 2008
hahahhhahaha...stevie the city needs more tranny-prostitutes and I know I need a few more nannies.... maybe... nanny-tranny-pros.... it's recession proof :)
2yrs MBA, 4 yrs spending bonus money w/o a savings plan.. being laid off and becoming a nanny in NYC to still be a NYCer... PRICELESS :)
Yo.. pretri... how's the left side today :)
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Response by evnyc
over 17 years ago
Posts: 1844
Member since: Aug 2008
Maybe we can train them to be brokers. ;)
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Response by julia
over 17 years ago
Posts: 2841
Member since: Feb 2007
have mayor bloomberg hire them to work on his campaign...he's hiring so many and pays exceedingly well.
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Response by uptowngal
over 17 years ago
Posts: 631
Member since: Sep 2006
but where will they work? can't go back to wall st., where their bonus' will be capped.
it sounds like high priced outplacement. most of these folks are pretty industrious to begin with, I'd say assist them with starting their own businesses. a good first step would be to lower taxes on small businesses. gee, what a novel idea.
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Response by petrfitz
over 17 years ago
Posts: 2533
Member since: Mar 2008
its tough because most ended up on wall street because they had no real talents to do anything else. So now oyu have a bunch of talentless bores who will need to find another career that talentless bores can do well. They also want another career will they can rape and pillage american citizens of all their savings - i think that is why so many are going into an equally vapid field of health insurance. Sorry BJW - some Goldman dickhead is going to take your mindless job....
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Response by ap2492
over 17 years ago
Posts: 173
Member since: Feb 2007
This is ridiculous....they can work as rental brokers...and see how hard that industry is....because of them..... if I hear one more stupid thing our $ are backing I may decide to move out of the city I have been trying to afford since graduation college in 92!
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Response by ap2492
over 17 years ago
Posts: 173
Member since: Feb 2007
oops lots of typo's sorry
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Response by ShortRegrets
over 17 years ago
Posts: 36
Member since: Jan 2009
Re: "seed capital and office space for new businesses"
The stuff above is the core of the proposal - goes to close friends and family, thank you, New York. The rest is smoke and mirrors. I'd slice it like this:
2m seed per cron... company for about 10 companies - there goes 20m.
1m office rental for CRE cron... companies -- another 20m.
2m to advertising cronies for good spin and PR.
2m to hire administrators and consultants from cronies.
.5m lobbing and stuff to cronies.
.3m for marketing study from old cronies on how well the program worked.
.1m just gets lost wasted outside of the above budget.
.1m for actual retraining of like 189 executive assistants into unemployment office clerks.
Seriously, in my free time I volunteer for non-profit that retrains low income people... The office space is free, the trainers / mentors are volunteers, only staff gets paid but that cant be that much.
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Response by alpine292
over 17 years ago
Posts: 2771
Member since: Jun 2008
How do I get hired to work on Bloomberg's campaign? I am neither a Republican, a Democrat, or an Independent. Instead, I am whatever you pay me to be.
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Response by w67thstreet
over 17 years ago
Posts: 9003
Member since: Dec 2008
alpine... a funny... :)
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Response by McHale
over 17 years ago
Posts: 399
Member since: Oct 2008
Hire those losers to be bathroom attendants so they can smell the scent of crap emanating from the stalls.
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Response by mildly_shriveled
over 17 years ago
Posts: 24
Member since: Feb 2009
they would steal the towels
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Response by Admiral
over 17 years ago
Posts: 393
Member since: Aug 2008
"i need someone to pick up the dog crap in my backyard"
Do you know what Julia and dog poop have in common?
The older they get, the easier they are to pick up...
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Response by aboutready
over 17 years ago
Posts: 16354
Member since: Oct 2007
admiral...a not funny... :(
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Response by Admiral
over 17 years ago
Posts: 393
Member since: Aug 2008
LOL...it's HYSTERICALLY funny...
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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008
"How do I get hired to work on Bloomberg's campaign? I am neither a Republican, a Democrat, or an Independent. Instead, I am whatever you pay me to be."
if evillager needs a job then i need someone to pick up the dog crap in my backyard. he lives nearby and i believe his junior trading skills are commersurate with the task.
What are they training them to do?
"welcome to mcdonald's . . . may I take your order? . . . please drive around" = standard joke on our trading floor 'cause so many people wear headsets like they do at the drive up windows
hahahhhahaha...stevie the city needs more tranny-prostitutes and I know I need a few more nannies.... maybe... nanny-tranny-pros.... it's recession proof :)
2yrs MBA, 4 yrs spending bonus money w/o a savings plan.. being laid off and becoming a nanny in NYC to still be a NYCer... PRICELESS :)
Yo.. pretri... how's the left side today :)
Maybe we can train them to be brokers. ;)
have mayor bloomberg hire them to work on his campaign...he's hiring so many and pays exceedingly well.
but where will they work? can't go back to wall st., where their bonus' will be capped.
it sounds like high priced outplacement. most of these folks are pretty industrious to begin with, I'd say assist them with starting their own businesses. a good first step would be to lower taxes on small businesses. gee, what a novel idea.
its tough because most ended up on wall street because they had no real talents to do anything else. So now oyu have a bunch of talentless bores who will need to find another career that talentless bores can do well. They also want another career will they can rape and pillage american citizens of all their savings - i think that is why so many are going into an equally vapid field of health insurance. Sorry BJW - some Goldman dickhead is going to take your mindless job....
This is ridiculous....they can work as rental brokers...and see how hard that industry is....because of them..... if I hear one more stupid thing our $ are backing I may decide to move out of the city I have been trying to afford since graduation college in 92!
oops lots of typo's sorry
Re: "seed capital and office space for new businesses"
The stuff above is the core of the proposal - goes to close friends and family, thank you, New York. The rest is smoke and mirrors. I'd slice it like this:
2m seed per cron... company for about 10 companies - there goes 20m.
1m office rental for CRE cron... companies -- another 20m.
2m to advertising cronies for good spin and PR.
2m to hire administrators and consultants from cronies.
.5m lobbing and stuff to cronies.
.3m for marketing study from old cronies on how well the program worked.
.1m just gets lost wasted outside of the above budget.
.1m for actual retraining of like 189 executive assistants into unemployment office clerks.
Seriously, in my free time I volunteer for non-profit that retrains low income people... The office space is free, the trainers / mentors are volunteers, only staff gets paid but that cant be that much.
How do I get hired to work on Bloomberg's campaign? I am neither a Republican, a Democrat, or an Independent. Instead, I am whatever you pay me to be.
alpine... a funny... :)
Hire those losers to be bathroom attendants so they can smell the scent of crap emanating from the stalls.
they would steal the towels
"i need someone to pick up the dog crap in my backyard"
Do you know what Julia and dog poop have in common?
The older they get, the easier they are to pick up...
admiral...a not funny... :(
LOL...it's HYSTERICALLY funny...
"How do I get hired to work on Bloomberg's campaign? I am neither a Republican, a Democrat, or an Independent. Instead, I am whatever you pay me to be."
Get hired by Bloomberg the company first.