JP Morgan

I'm almost hesitant to post another report on a lavish party thrown by a bank receiving taxpayer assistance, because by now it is almost cliche. I'm making the exception for three reasons:

1. We haven't heard anything about Bear Stearns in awhile
2. The party took place across the Pond, so was largely under US media radar
3. I've had this great picture for months and can finally use it

Also, the scope of the bash was pretty audacious, if I do say so myself. 900 bottles of wine and 2,000 pints of beer? That has to be one for the books. Hope everyone had a happy and safe New Year.

Not counting all those former WaMu wannabe cuts announced yesterday, JP Morgan is swinging the axe again big time starting today.

http://clusterstock.alleyinsider.com/2008/12/jp-morgan-chase-jpm-handing...

Things must be difficult in the Jamie Dimon camp. After they took on Bear Stearns and now WaMu, it must be tough hearing the phrase 'redundancy' all the time.

The Thanksgiving holiday is over and, now it's time to get back to work. First order of business? Laying off all those WaMu employees who actually thought they would become a part of the JP Morgan Chase family.

LA Times has the full story - http://www.latimes.com/business/la-fi-wamu2-2008dec02,0,6248707.story?tr...

9,200 jobs in total will be cut. 4,000 will be notified up front before the end of January, while the rest will be kept dangling and eventually axed before end of 2009.

So, I think that I am going with the JP Morgan offer.

However today, it's stock went down 11.42%. This market is really scaring me.

What do you guys think are the odds for JP to fail/get bought out by mid-summer next year? Should I take the offer without worrying because it's too big to fail?

So I got a offer from JP Morgan in its finance division and also an offer from Ernst and Young in its Transfer Pricing group. Both positions are for a foreign office.

From my research, Transfer Pricing seems fairly interesting but could be limiting in terms of exit opps. JP Morgan has a more prestigious name and I get to take part in a 3 yr rotational leadership program (similar to FMP of GE?), but it is back office so it may be that the work would be a little boring.

As of now I want to be able to use my accounting skills (I like accounting) and actually like the work that I do. Which offer in your guys' opinion is better?