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Wall Street Oasis » Forums » I-Banking Bullpen
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Would you trade places with your MD?
 

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Beef's picture
Beef
      IB
 
 
(Gorilla, 718
 
Points)
 on 3/2/11 at 4:38pm
man.jpg

He strolls into the office whenever he wants, looking sharp and slick. The only thing shinier than his new, freshly polished Ferragamo loafers is the 24K gold on his cufflinks. Or maybe it's his new Patek Phillippe, the one he bought on a whim after seeing an ad in the back of The Economist (which he reads every week as he travels first-class to major business centers around the world).

A lot of analysts tend to glorify MD's and put them up on a pedestal. It's not just the clothes. It's not even the money. It's the power they wield we lust after. To be a BSD in finance - one of the fat cats of Wall Street who are simultaneously hated and admired by regular folk. That's the end goal. When we get to MD-status, we've accomplished what we've been working so hard for our entire lives. And I'm not just talking about MDs in investment banking - I'm talking about the hedge fund manager, or the partner in a private equity or venture capital fund, or even the CEO of a large company. We lust after what these people possess - status. And all that comes along with it.

But would you trade places with one of these cats, if you could? Think about it. Your MD is probably 45 years old, so he's balding. He's overweight. The only thing keeping his wife from hating him is all the money he throws at her. She's probably sleeping with the pool boy, anyway, so she doesn't care about him anymore (in a relationship, apathy can be worse than hate). His kids barely know him.

And even if all these things weren't true...

Half his life is already gone. And more importantly, he got to where he is by working for it. If you traded places with him, you'd rob yourself the satisfaction of getting there by your own merit.

We tend to keep our eyes on the end-goal, thinking that getting there will make us happy. But happiness is synthesized by our brains, and we always overestimate how much happiness something is going to bring us, and underestimate how much happiness getting there will bring us.

Take college, for example. You worked hard for 4 years to get into a top school. Some of you made it, some didn't. Most got into a good school, at least. How happy did that make you? It was great for a little while, then you actually got there and your happiness "leveled off" as you set your sights on the next thing - banking.

My point here is that I think we should all take a deep breath from time to time, and enjoy our current situation in life. Stop to smell the roses. Happiness really is in the journey, not the destination. Clichés aside, I think a lot of us would be happier if we stopped focusing so much on where we want to be, and started focusing on where we are now. The future is uncertain anyway, so live in the present!

tl;dr stop to smell the fking roses

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.
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  • I-Banking Bullpen
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firefighter's picture

This is so stupid, of course,

firefighter
      IB
 
(Senior Gorilla, 970
 
Points)
 on 3/2/11 at 4:44pm

This is so stupid, of course, skip 20 years of working to be a baller on da street? lol dumb question

seriously though, i'm not happy at an ivy because there's more to be achieved - still need to go into banking, gunning for the top shops a la GS TMT, GS FIG, MS M&A and BX M&A in that order of prestige/exit oppys. At banking one is not happy because of the need to go to PE. I can imagine the Hellman&Friedman or Silver Lake guys being unhappy because they are not at the top funds, but once you get into KKR/BX and there's nowhere up, I can't imagine that you won't be happy for the rest (or a significant chunk) of your life.

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BananaStand's picture

Talk to a couple of principal

BananaStand
     
 
(Senior Baboon, 228
 
Points)
 on 3/2/11 at 4:52pm

Talk to a couple of principal investing guys (PE or HF) about their view of investment banking MDs and you'll get a different view. Analysts may glorify their MDs, but I can tell you that the rest of the finance world sees them as highly-paid sales guys who, more often than not, don't earn their fees.

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In reply to firefighter
Eric Stratton's picture

firefighter wrote: This is so

Eric Stratton
     
 
(Gorilla, 583
 
Points)
 on 3/2/11 at 4:56pm
firefighter:

This is so stupid, of course, skip 20 years of working to be a baller on da street? lol dumb question

seriously though, i'm not happy at an ivy because there's more to be achieved - still need to go into banking, gunning for the top shops a la GS TMT, GS FIG, MS M&A and BX M&A in that order of prestige/exit oppys. At banking one is not happy because of the need to go to PE. I can imagine the Hellman&Friedman or Silver Lake guys being unhappy because they are not at the top funds, but once you get into KKR/BX and there's nowhere up, I can't imagine that you won't be happy for the rest (or a significant chunk) of your life.

Is this a joke? You tie your happiness and self-worth to the name on your business card? What a miserable way to go through life.

---------------------
"Well, you can do whatever you want to us, but we're not going to sit here and listen to you badmouth the United States of America."

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In reply to firefighter
HFFBALLfan123's picture

firefighter wrote: This is so

HFFBALLfan123
      PE
 
 
(King Kong, 1,377
 
Points)
 on 3/2/11 at 4:56pm
firefighter:

This is so stupid, of course, skip 20 years of working to be a baller on da street? lol dumb question

seriously though, i'm not happy at an ivy because there's more to be achieved - still need to go into banking, gunning for the top shops a la GS TMT, GS FIG, MS M&A and BX M&A in that order of prestige/exit oppys. At banking one is not happy because of the need to go to PE. I can imagine the Hellman&Friedman or Silver Lake guys being unhappy because they are not at the top funds, but once you get into KKR/BX and there's nowhere up, I can't imagine that you won't be happy for the rest (or a significant chunk) of your life.

Wow, simply, wow... If you really think the guys at Silver Lake give the slightest bit of a fuck about getting into KKR than you are a complete idiot.

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In reply to firefighter
ShreddiesBrah's picture

firefighter wrote: This is so

ShreddiesBrah
     
 
(King Kong, 1,337
 
Points)
 on 3/2/11 at 4:57pm
firefighter:

This is so stupid, of course, skip 20 years of working to be a baller on da street? lol dumb question

seriously though, i'm not happy at an ivy because there's more to be achieved - still need to go into banking, gunning for the top shops a la GS TMT, GS FIG, MS M&A and BX M&A in that order of prestige/exit oppys. At banking one is not happy because of the need to go to PE. I can imagine the Hellman&Friedman or Silver Lake guys being unhappy because they are not at the top funds, but once you get into KKR/BX and there's nowhere up, I can't imagine that you won't be happy for the rest (or a significant chunk) of your life.

There's always somewhere "up".

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firefighter's picture

Really, I can't imagine a

firefighter
      IB
 
(Senior Gorilla, 970
 
Points)
 on 3/2/11 at 5:01pm

Really, I can't imagine a better / more prestigious job than partner at KKR - it is simply the pinnacle and definition of success and prestige. Almost definitely will make you a happy person. Money and status buys happiness baby. Maybe a fund manager at a top HF, but then it is similar.

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In reply to Eric Stratton
HFFBALLfan123's picture

Eric Stratton

HFFBALLfan123
      PE
 
 
(King Kong, 1,377
 
Points)
 on 3/2/11 at 5:02pm
Eric Stratton:
firefighter:

This is so stupid, of course, skip 20 years of working to be a baller on da street? lol dumb question

seriously though, i'm not happy at an ivy because there's more to be achieved - still need to go into banking, gunning for the top shops a la GS TMT, GS FIG, MS M&A and BX M&A in that order of prestige/exit oppys. At banking one is not happy because of the need to go to PE. I can imagine the Hellman&Friedman or Silver Lake guys being unhappy because they are not at the top funds, but once you get into KKR/BX and there's nowhere up, I can't imagine that you won't be happy for the rest (or a significant chunk) of your life.

Is this a joke? You tie your happiness and self-worth to the name on your business card? What a miserable way to go through life.

I thought it was a joke, until i saw his thread attempting to have a tournament of banking prestige....

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In reply to firefighter
alexpasch's picture

firefighter wrote: Really, I

alexpasch
      EN
 
 
(King Kong, 1,921
 
Points)
 on 3/2/11 at 5:04pm
firefighter:

Really, I can't imagine a better / more prestigious job than partner at KKR - it is simply the pinnacle and definition of success and prestige. Almost definitely will make you a happy person. Money and status buys happiness baby. Maybe a fund manager at a top HF, but then it is similar.

Oh dear god this kid is exactly what's wrong with finance these days...

www.jetcigs.com - Use coupon code WSO30 for 30% off

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alexpasch's picture

And I guarantee you guys 100%

alexpasch
      EN
 
 
(King Kong, 1,921
 
Points)
 on 3/2/11 at 5:06pm

And I guarantee you guys 100% that firefighter is not a happy person right now since he's obviously putting all his eggs into the money/prestige basket (this is what ppl do when they suck at everything else)....when was the last time you got your tip wet buddy?

www.jetcigs.com - Use coupon code WSO30 for 30% off

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econ's picture

Beef wrote: We tend to keep

econ
      O
 
 
(Neanderthal, 2,419
 
Points)
 on 3/2/11 at 5:15pm
Beef:

We tend to keep our eyes on the end-goal, thinking that getting there will make us happy. But happiness is synthesized by our brains, and we always overestimate how much happiness something is going to bring us, and underestimate how much happiness getting there will bring us.

You must of seen this: http://www.youtube.com/watch?v=LTO_dZUvbJA

For my aspiring Entrepreneurial Nomads, check out my blog.

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In reply to alexpasch
HFFBALLfan123's picture

alexpasch wrote: And I

HFFBALLfan123
      PE
 
 
(King Kong, 1,377
 
Points)
 on 3/2/11 at 5:18pm
alexpasch:

And I guarantee you guys 100% that firefighter is not a happy person right now since he's obviously putting all his eggs into the money/prestige basket (this is what ppl do when they suck at everything else)....when was the last time you got your tip wet buddy?

This is the exact kind of negative reinforcement this site needs in order to keep from being taken over by ass clowns...

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firefighter's picture

Those downvoting me are just

firefighter
      IB
 
(Senior Gorilla, 970
 
Points)
 on 3/2/11 at 5:18pm

Those downvoting me are just jelly. if it dont make dollars it dont make sense. paper + status what else is better? KKR or bust bro, so fucking prestigious

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alexpasch's picture

^^^^Firefighter has to be a

alexpasch
      EN
 
 
(King Kong, 1,921
 
Points)
 on 3/2/11 at 5:22pm

^^^^Firefighter has to be a poe/troll/what's the term?

www.jetcigs.com - Use coupon code WSO30 for 30% off

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Walkerr's picture

I actually agree with the OP.

Walkerr
      IB
 
(Gorilla, 573
 
Points)
 on 3/2/11 at 5:47pm

I actually agree with the OP. There was a discussion on this subject recently. There is always a higher goal and people focus too much on that goal. Unless they achieve that gaosl they're not gonna be satisfied. But how big is the change you actually get to be a fund manager at a top hedge fund/ PE fund? And what if you're actually there? Is that it, pursuing a goal and than not having a goal anymore. Isn't that going to be strange. Referring to a post earlier Will Smit said something like "you have to build a wall brick by brick".

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econ's picture

Don't some of you guys

econ
      O
 
 
(Neanderthal, 2,419
 
Points)
 on 3/2/11 at 5:53pm

Don't some of you guys realize that you might get that super prestigious career one day after tons of hard work, and realize it's not all it's cracked up to be? Seems like this sort of thing happens all the time...

For my aspiring Entrepreneurial Nomads, check out my blog.

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In reply to Awon Eleyi Awon Eleyi Won Bad Gan
UFOinsider's picture

HFFBALLfan123

UFOinsider
      O
 
(Human, 10,474
 
Points)
 on 3/2/11 at 6:13pm
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I notice that the older I am the more I sound like Illini Programer

- accountingbyday

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In reply to firefighter
Chilldude's picture

firefighter wrote: Really, I

Chilldude
      O
 
(Senior Chimp, 27
 
Points)
 on 3/2/11 at 6:24pm
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CDM820's picture

Not that I am one to speak

CDM820
      ST
 
 
(Senior Chimp, 21
 
Points)
 on 3/2/11 at 8:05pm
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Sterling Archer's picture

I wouldn't trade places with

Sterling Archer
      IB
 
 
(Gorilla, 719
 
Points)
 on 3/2/11 at 8:37pm
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youngIBD's picture

40 yr old MDs dont get

youngIBD
     
 
(Baboon, 148
 
Points)
 on 3/2/11 at 8:52pm
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In reply to youngIBD
Sterling Archer's picture

youngIBD wrote: 40 yr old MDs

Sterling Archer
      IB
 
 
(Gorilla, 719
 
Points)
 on 3/2/11 at 8:53pm
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In reply to firefighter
PeakLapel's picture

firefighter wrote: Really, I

PeakLapel
      O
 
(Baboon, 153
 
Points)
 on 3/2/11 at 9:13pm

We've got half a million shares in the bag!

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Status_Quo's picture

Hell naw it's all about the

Status_Quo
     
 
(Senior Gorilla, 944
 
Points)
 on 3/2/11 at 9:20pm
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In reply to Juwanna Mann
youngIBD's picture

Juwanna Mann wrote: youngIBD

youngIBD
     
 
(Baboon, 148
 
Points)
 on 3/2/11 at 9:33pm
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In reply to youngIBD
Sterling Archer's picture

youngIBD wrote: Juwanna Mann

Sterling Archer
      IB
 
 
(Gorilla, 719
 
Points)
 on 3/2/11 at 10:07pm
    • Credits
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In reply to Juwanna Mann
youngIBD's picture

Juwanna Mann wrote: youngIBD

youngIBD
     
 
(Baboon, 148
 
Points)
 on 3/2/11 at 10:15pm
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firefighter's picture

u kids are seriously

firefighter
      IB
 
(Senior Gorilla, 970
 
Points)
 on 3/2/11 at 10:20pm
    • Credits
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In reply to firefighter
youngIBD's picture

firefighter wrote: u kids are

youngIBD
     
 
(Baboon, 148
 
Points)
 on 3/2/11 at 10:23pm
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Chilldude's picture

Time>Money "If there's one

Chilldude
      O
 
(Senior Chimp, 27
 
Points)
 on 3/2/11 at 10:37pm
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Hamilton's picture

"Focus on the journey, not

Hamilton
     
 
(Senior Orangutan, 398
 
Points)
 on 3/2/11 at 10:38pm

"Have you ever tried to use a chain with 3 weak links? I have, and now I no longer own an arctic wolf."
-Dwight Schrute

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Beef's picture

Go watch "Blink". Sums up

Beef
      IB
 
 
(Gorilla, 718
 
Points)
 on 3/2/11 at 11:21pm

Wall Street leaders now understand that they made a mistake, one born of their innocent and trusting nature. They trusted ordinary Americans to behave more responsibly than they themselves ever would, and these ordinary Americans betrayed their trust.

    • Credits
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In reply to firefighter
Sterling Archer's picture

firefighter wrote: u kids are

Sterling Archer
      IB
 
 
(Gorilla, 719
 
Points)
 on 3/3/11 at 12:41am
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khara 3alekon's picture

These forums aren't getting

khara 3alekon
      CO
 
(Senior Baboon, 243
 
Points)
 on 3/3/11 at 1:38am

Strategy Everything.

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In The Flesh's picture

In an ethics class at school,

In The Flesh
      HF
 
 
(Neanderthal, 2,883
 
Points)
 on 3/3/11 at 2:14am

Head of Metal Website: www.headofmetal.com

https://twitter.com/headofmetal2012

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firefighter's picture

Kids on here have no fucking

firefighter
      IB
 
(Senior Gorilla, 970
 
Points)
 on 3/3/11 at 2:25am
    • Credits
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chubbybunny's picture

Don't you guys have some

chubbybunny
      O
 
(Orangutan, 264
 
Points)
 on 3/3/11 at 2:52am
    • Credits
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firefighter's picture

Damn, so owning a bust is

firefighter
      IB
 
(Senior Gorilla, 970
 
Points)
 on 3/3/11 at 3:24am
    • Credits
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ShreddiesBrah's picture

You guys are getting trolled.

ShreddiesBrah
     
 
(King Kong, 1,337
 
Points)
 on 3/3/11 at 7:04am
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koske's picture

Great inital post @

koske
      ST
 
(Senior Monkey, 97
 
Points)
 on 3/3/11 at 7:04am

- Only time will tell....

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In reply to Pfalzer
crazyfrog3's picture

I think happiness comes to

crazyfrog3
      O
 
(Monkey, 39
 
Points)
 on 3/3/11 at 7:39am
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Il Cavaliere's picture

So far the word fuck has been

Il Cavaliere
      IB
 
(Senior Baboon, 225
 
Points)
 on 3/3/11 at 7:51am
    • Credits
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rbkchoi's picture

I would hope that I stay

rbkchoi
      O
 
(Baboon, 160
 
Points)
 on 3/3/11 at 8:50am

It's what you put into it

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In reply to Pfalzer
econ's picture

Pfalzer wrote: In an ethics

econ
      O
 
 
(Neanderthal, 2,419
 
Points)
 on 3/3/11 at 9:17am

For my aspiring Entrepreneurial Nomads, check out my blog.

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In reply to Il Cavaliere
UFOinsider's picture

Il Cavaliere wrote: So far

UFOinsider
      O
 
(Human, 10,474
 
Points)
 on 3/3/11 at 9:32am

I notice that the older I am the more I sound like Illini Programer

- accountingbyday

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leveredarb's picture

this site is seriously

leveredarb
     
 
(King Kong, 1,263
 
Points)
 on 3/3/11 at 9:37am
    • Credits
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In reply to leveredarb
rbkchoi's picture

leveredarb wrote: this site

rbkchoi
      O
 
(Baboon, 160
 
Points)
 on 3/3/11 at 9:39am

It's what you put into it

    • Credits
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XPJ's picture

The problem with these

XPJ
      IB
 
(Baboon, 168
 
Points)
 on 3/3/11 at 10:05am
    • Credits
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In reply to XPJ
UFOinsider's picture

XPJ wrote: Different things

UFOinsider
      O
 
(Human, 10,474
 
Points)
 on 3/3/11 at 10:06am

I notice that the older I am the more I sound like Illini Programer

- accountingbyday

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In reply to UFOinsider
Il Cavaliere's picture

UFOinsider wrote: XPJ

Il Cavaliere
      IB
 
(Senior Baboon, 225
 
Points)
 on 3/3/11 at 10:47am
    • Credits
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HFFBALLfan123's picture

Welcome to trollapalooza...

HFFBALLfan123
      PE
 
 
(King Kong, 1,377
 
Points)
 on 3/3/11 at 10:49am
    • Credits
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The contents of this Web Site, such as text, graphics, images, logos, button icons, software and other items (collectively, "Material"), are protected under both United States and foreign copyright, trademark and other laws. All Material is the property of the Company or its content suppliers or clients. The compilation (meaning the collection, arrangement and assembly) of all content on this Web Site is the exclusive property of the Company and protected by U.S. and international copyright laws. Unauthorized use of the Material may violate copyright, trademark, and other laws. You must retain all copyright, trademark, service-mark and other proprietary notices contained in the original Material on any copy you make of the Material. You may not sell or modify the Material or reproduce, display, publicly perform, distribute, or otherwise use the Material in any way for any public or commercial purpose. The use of the Material on any other web site or in a networked computer environment for any purpose is prohibited.

You shall not copy or adapt the HTML code that the Company creates to generate its pages. It is also protected by the Company?s copyright.

Acceptable Site Use.

General Rules: Users may not use the Web Site in order to transmit, distribute, store or destroy material (a) in violation of any applicable law or regulation, (b) in a manner that will infringe the copyright, trademark, trade secret or other intellectual property rights of others or violate the privacy, publicity or other personal rights of others, or (c) that is defamatory, obscene, threatening, abusive or hateful.

Web Site Security Rules. Users are prohibited from violating or attempting to violate the security of the Web Site, including, without limitation, (a) accessing data not intended for such user or logging into a server or account which the user is not authorized to access, (b) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization, (c) attempting to interfere with service to any user, host or network, including, without limitation, via means of submitting a virus to the Web Site, overloading, "flooding", "spamming", "mailbombing" or "crashing", (d) sending unsolicited e-mail, including promotions and/or advertising of products or services, or (e) forging any TCP/IP packet header or any part of the header information in any e-mail. Violations of system or network security may result in civil or criminal liability. The Company will investigate occurrences which may involve such violations and may involve, and cooperate with, law enforcement authorities in prosecuting users who are involved in such violations.

Specific Prohibited Uses.

The Company specifically prohibits any use of the Web Site, and all users agree not to use the Web Site, for any of the following:

  • Posting any incomplete, false or inaccurate biographical information or information which is not your own accurate resume
  • Using any device, software or routine to interfere or attempt to interfere with the proper working of this Web Site or any activity being conducted on this site.
  • Taking any action which imposes an unreasonable or disproportionately large load on this Web Site?s infrastructure.
  • If you have a password allowing access to a non-public area of this Web Site, disclosing to or sharing your password with any third parties or using your password for any unauthorized purpose.
  • Notwithstanding anything to the contrary contained herein, using or attempting to use any engine, software, tool, agent or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search this Web Site other than the search engine and search agents available from the Company on this Web Site and other than generally available third party web browsers (e.g., Netscape Navigator, Microsoft Explorer).
  • Attempting to decipher, decompile, disassemble or reverse engineer any of the software comprising or in any way making up a part of the Web Site.
  • Aggregating, copying or duplicating in any manner any of the materials or information available from the Web Site.
  • Framing of or linking to any of the materials or information available from the Web Site.

User Information.

When you register for the Web Site, you will be asked to provide the Company with certain information including, without limitation, a valid email address (your "Information"). In addition to the terms and conditions that may be set forth in any privacy policy on this Web Site, you understand and agree that the Company may disclose to third parties, on an anonymous basis, certain aggregate information contained in your registration application. The Company reserves the right to offer third party services and products to you based on the preferences that you identify in your registration and at any time thereafter; such offers may be made by the Company or by third parties. Please see the Company's Privacy Policy below for further details regarding your Information.

Registration and Password.

You are responsible for maintaining the confidentiality of your information and password. You shall be responsible for all uses of your registration, whether or not authorized by you. You agree to immediately notify the Company of any unauthorized use of your registration or password.

The Company's Liability.

As a condition to your use of this site, you release the Company (and our agents and employees) from claims, demands and damages (actual and consequential, direct and indirect) of every kind and nature, known and unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way connected with such disputes. If you are a California resident, you waive California Civil Code d1542, which says: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor."

We are under no legal obligation to, and generally do not, control the information provided by other users which is made available through the Web Site. By its very nature, other people?s information may be offensive, harmful or inaccurate, and in some cases will be mislabeled or deceptively labeled. We expect that you will use caution and common sense when using this Web Site.

The Material may contain inaccuracies or typographical errors. The Company makes no representations about the accuracy, reliability, completeness, or timeliness of the Web Site or the Material. The use of the Web Site and the Material is at your own risk. Changes are periodically made to the Web Site and may be made at any time.

You acknowledge and agree that you are solely responsible for the content and accuracy of any resume or material contained therein placed by you on the Web Site and you agree to let any users that are identified as recruiters (designated in the sole discretion of the Company) to have access to your resume.

The Company is not to be considered to be an employer with respect to your use of the Web Site and the Company shall not be responsible for any employment decisions, for whatever reason made, made by any entity posting jobs on the Web Site.

THE COMPANY DOES NOT WARRANT THAT THE WEB SITE WILL OPERATE ERROR-FREE OR THAT THE WEB SITE AND ITS SERVER ARE FREE OF COMPUTER VIRUSES OR OTHER HARMFUL MECHANISMS. IF YOUR USE OF THE WEB SITE OR THE MATERIAL RESULTS IN THE NEED FOR SERVICING OR REPLACING EQUIPMENT OR DATA, THE COMPANY IS NOT RESPONSIBLE FOR THOSE COSTS.

THE WEB SITE AND MATERIAL ARE PROVIDED ON AN "AS IS" BASIS WITHOUT ANY WARRANTIES OF ANY KIND. THE COMPANY, TO THE FULLEST EXTENT PERMITTED BY LAW, DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING THE WARRANTY OF MERCHANTABILITY, FITNESS FOR PARTICULAR PURPOSE AND NON-INFRINGEMENT. THE COMPANY MAKES NO WARRANTIES ABOUT THE ACCURACY, RELIABILITY, COMPLETENESS, OR TIMELINESS OF THE MATERIAL, SERVICES, SOFTWARE, TEXT, GRAPHICS, AND LINKS.

Disclaimer of Consequential Damages.

IN NO EVENT SHALL THE COMPANY, ITS SUPPLIERS, OR ANY THIRD PARTIES MENTIONED ON THE WEB SITE BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, INCIDENTAL AND CONSEQUENTIAL DAMAGES, LOST PROFITS, OR DAMAGES RESULTING FROM LOST DATA OR BUSINESS INTERRUPTION) RESULTING FROM THE USE OR INABILITY TO USE THE WEB SITE AND THE MATERIAL, WHETHER BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY, AND WHETHER OR NOT THE COMPANY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

Links to Other Sites.

The Web Site may contain links to third party web sites. These links are provided solely as a convenience to you and not as an endorsement by the Company of the contents on such third-party Web sites. The Company is not responsible for the content of linked third-party sites and does not make any representations regarding the content or accuracy of materials on such third party Web sites. If you decide to access linked third party Web sites, you do so at your own risk.

No Resale or Unauthorized Commercial Use.

You agree not to resell or assign your rights or obligations under these Term of Use. You also agree not to make any unauthorized commercial use of the Web Site.

Limitation of Liability.

The aggregate liability for the Company to you for all claims arising from the use of the Materials is limited to $1.

Termination.

The Company reserves the right, at its sole discretion, to pursue all of its legal remedies, including but not limited to immediate termination of your registration with or ability to access the Web Site and/or any other service provided to you by the Company, upon any breach by you of these Terms and Conditions or if the Company is unable to verify or authenticate any information you submit to the Web Site registration with or ability to access the Web Site.

Indemnity.

You agree to defend, indemnify, and hold harmless the Company, its officers, directors, employees and agents, from and against any claims, actions or demands, including without limitation reasonable legal and accounting fees, alleging or resulting from your use of the Material or your breach of the terms of these Terms and Conditions. The Company shall provide notice to you promptly of any such claim, suit, or proceeding and shall assist you, at your expense, in defending any such claim, suit or proceeding.

General.

The Company makes no claims that the Materials may be lawfully viewed or downloaded outside of the United States. Access to the Materials may not be legal by certain persons or in certain countries. If you access the Web Site from outside of the United States, you do so at your own risk and are responsible for compliance with the laws of your jurisdiction. These Terms and conditions are governed by the internal substantive laws of the State of New York, without respect to its conflict of laws principles. Jurisdiction for any claims arising under this agreement shall lie exclusively with the state or federal courts within New York, New York. If any provision of these Terms and Conditions are found to be invalid by any court having competent jurisdiction, the invalidity of such provision shall not affect the validity of the remaining provisions of these Terms and Conditions, which shall remain in full force and effect. No waiver of any term of these Terms and Conditions shall be deemed a further or continuing waiver of such term or any other term. Except as expressly provided in additional terms of use for areas of the Web Site a particular "Legal Notice," or Software License or Material on particular Web pages, these Terms and Conditions constitute the entire agreement between you and the Company with respect to the use of Web Site. No changes to these Terms and Conditions shall be made except by a revised posting on this page.

PRIVACY POLICY

The Company recognizes that you are concerned about privacy. We are committed to preserving your privacy and safeguarding your sensitive information. The following statement describes the general information-gathering and usage practices of our sites.

Our staff, contractors, Internet service providers and others involved in this site follow this policy or similarly strict policies regarding your Information.

Disclosure

The Company is committed to fully disclosing our policies regarding the collection, use, maintenance, disclosure and security of personal information obtained from users of our site. The term "personal information" includes a name, address, email address, or any other information which could be used to contact you directly or to identify you personally.

Use and Disclosure Limitations

The Company only uses personal information about its Web site users for specific purposes. We do not share user information with third parties except when we have told users about the disclosures, when we have prior consent, or when required by law.

Use Policy: When the Company gathers personal information from users, we ask for permission first. We also disclose, at the time of collection, how the information will be used by us. Personal information is used for activities such as auto-completion of commonly-used forms and helping us contact you when you solicit information from us.

Disclosure Policy: We do not normally disclose personal information to anyone outside of the Company unless we have previously informed users about the disclosures. However, some data may be used from time to time by outside contractors, including auditors or consultants, to assist us in carrying out necessary financial or operational activities. These uses will be consistent with this privacy policy and all contractors using this potential personal information must agree to safeguard it, to use it only for the authorized purpose, and to return it or destroy it upon completion of the activity.

The Company might be required to disclose personal information in response to a valid legal process such as a subpoena, search warrant or court order.

Although unlikely, it is possible that we may have to make certain disclosures to ensure the security of our Web site, to protect its integrity, or to take precautions against potential liability. In any of these situations, we will take any reasonable steps to limit the scope of the data disclosed.

Web Logs: The Company maintains standard Web logs that record basic information about visitors to our Web site. These logs contain: * The Internet domain from which you came to our Web site. * Your IP address. An IP address is a series of numbers which uniquely identifies your connection to the Internet. Although it is possible in some instances, certain types of IP addresses may be used by interested persons to identify users but we do not attempt to identify users in this way. * The type of browser (e.g., Internet Explorer or Netscape) and operating system (e.g., Windows 98) you use. * The date and time you visited the site, and the pages you saw.

We use Web log information to design our Web site, identify popular features, and in similar ways. We do not try to identify individuals from Web logs or to link Web logs to other user information. However, if someone tries to damage our Web site or use it in an unauthorized or illegal way, we may share Web log information with law enforcement agencies. The Company may provide aggregate information such as the number of users who visit particular pages of the site, or the number of people who link to certain external sites from our site, to other parties.

Changes to Privacy Policy

The Company's features and services will change over time and our information-gathering practices and policies may also change.

While our philosophy of protecting user information from inappropriate uses and disclosures will not change, this policy will be updated occasionally to include any change that materially affects the collection, maintenance, use, or disclosure of personal information.

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