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but all will be apparant in due course.
sounds like someone didn't get an offer from ML and now hopes they go the way of Leh. At least have the balls to take a straight up position.
sounds more like he has insider info but doesn't want to be the first to break it in a public forum
He may have a very high opinion of himself, but no I will take the position that he doesn't know shit. I would expect Leh or UBS to be the next with MAC announcements. The rumors of ML selling their PE stakes are probably true, but it still is overblown. There will be major opportunities for the banks that hang on if another major broker/bank heads the way of Bear.
I assume that he's speaking about layoffs, not a sale.
you should save your indignation for someone that gives a crap that you disagree with them.
So OP, you think ML will fall, but only after all the rest of the banks have done so? Interesting that you have such a high opinion of them, that you would expect them to outlast all the other BBs.
Please continue speaking with cryptic undertones, so you can appear to be more intelligent than you actually are.
Maybe he's a disgruntled electrician that is tired of ML employees leaving the lights on?
How long will it take for things to become apparent?
lol @ electrician
Maybe OP's next thread will be "Is it possible to go from cleaner/plumber/technician to FO at a BB?"
"Last one out turns out the lights" = mass layoffs coming.
It's hardly cryptic and it's not a statement of whether ML is better/worse positioned than anyone else - just that they are coming.
I've never worked at ML and don't plan to. I have friends that came from there and friends that are there - some of which are very senior. So you can believe it or not - no skin off my nose. Some of you will heed the warning while others just can't bear a bad word against their mothership.
Take it for what it's worth, but based on his previous posts, I would place 'John Mack' in the minority group of posters on WSO who generally know what they're talking about.
Couldn't agree more; safe to include yourself, DOSK and a few others smuguy. Although, JM, perhaps a touch a touch too subtle for some of the intellects on here.
Bottom line, we keep going round and round, and, on the basis that it takes as long to get out of a mess as to get in, we're a ways away and don't think anyone thinks we've hit the bottom?
I've heard rumblings / rumors of the same. They've had massive writedowns and haven't cut a significant portion of the workforce yet. Ppl in house know it's coming. Top to bottom, but mainly in the middle.
I don't think any of us are in the position to refute the OP's statement. That being said, more details please. I have a couple friends that are going there for FT in IBD - will they be affected?
new poster here... Insiders know it is coming. Guess maybe 10%. What are you all hearing?
Would be surpised if it was too much larger than 10%. SAs and 08 FTs should fine, at least for now.
heard they are coming Thursday, happy Easter to you too...
Why would UBS be next? Seems like the European banks aren't getting much mention - all I'm hearing is Lehman, ML, and Citi as the particularly risky propositions. Wouldn't want to be working for any of the three at this point...
Are financial advisors affected?
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