Posted 08 March 2012 - 04:59 PM
- Omeymaa likes this
Posted 09 March 2012 - 05:32 AM
Just about every time I see someone I stop. I kind of got out of the habit in the last couple of years, moved to a big city and all that, my girlfriend wasn't too stoked on the practice. Then some poop happened to me that changed me and I am back to offering rides habitually. If you would indulge me, it is long story and has almost nothing to do with hitch hiking other than happening on a road.
This past year I have had 3 instances of car trouble. A blow out on a freeway, a bunch of blown fuses and an out of gas situation. All of them were while driving other people's cars which, for some reason, makes it worse on an emotional level. It makes it worse on a practical level as well, what with the fact that I carry things like a jack and extra fuses in my car, and know enough not to park, facing downhill, on a steep incline with less than a gallon of fuel.
Anyway, each of these times this poop happened I was DISGUSTED with how people would not bother to help me. I spent hours on the side of the freeway waiting, watching roadside assistance vehicles blow past me, for AAA to show. The 4 gas stations I asked for a gas can at told me that they couldn't loan them out "for my safety" but I could buy a really rubbish 1-gallon one with no cap for $15. It was enough, each time, to make you say poop like "this country is going to dirt in a handbasket."
But you know who came to my rescue all three times? Immigrants. Mexican immigrants. None of them spoke a lick of the language. But one of those dudes had a profound affect on me.
He was the guy that stopped to help me with a blow out with his whole family of 6 in tow. I was on the side of the road for close to 4 hours. Big jeep, blown rear tire, had a spare but no jack. I had signs in the windows of the car, big signs that said NEED A JACK and offered money. No dice. Right as I am about to give up and just hitch out there a van pulls over and dude bounds out. He sizes the situation up and calls for his youngest daughter who speaks english. He conveys through her that he has a jack but it is too small for the Jeep so we will need to brace it. He produces a saw from the van and cuts a log out of a downed tree on the side of the road. We rolled it over, put his jack on top, and bam, in business. I start taking the wheel off and, if you can believe it, I broke his tire iron. It was one of those collapsible ones and I wasn't careful and I snapped the head I needed clean off. heck.
No worries, he runs to the van, gives it to his wife and she is gone in a flash, down the road to buy a tire iron. She is back in 15 minutes, we finish the job with a little sweat and cussing (stupid log was starting to give), and I am a very happy man. We are both filthy and sweaty. The wife produces a large water jug for us to wash our hands in. I tried to put a 20 in the man's hand but he wouldn't take it so I instead gave it to his wife as quietly as I could. I thanked them up one side and down the other. I asked the little girl where they lived, thinking maybe I could send them a gift for being so awesome. She says they live in Mexico. They are here so mommy and daddy can pick peaches for the next few weeks. After that they are going to pick cherries then go back home. She asks if I have had lunch and when I told her no she gave me a tamale from their cooler, the best silly tamale I have ever had.
So, to clarify, a family that is undoubtedly poorer than you, me, and just about everyone else on that stretch of road, working on a seasonal basis where time is money, took an hour or two out of their day to help some strange dude on the side of the road when people in tow trucks were just passing me by. Wow...
But we aren't done yet. I thank them again and walk back to my car and open the foil on the tamale cause I am starving at this point and what do I find inside? My silly $20 bill! I whirl around and run up to the van and the guy rolls his window down. He sees the $20 in my hand and just shaking his head no like he won't take it. All I can think to say is "Por Favor, Por Favor, Por Favor" with my hands out. Dude just smiles, shakes his head and, with what looked like great concentration, tried his hardest to speak to me in English:
"Today you.... tomorrow me."
Rolled up his window, drove away, his daughter waving to me in the rear view. I sat in my car eating the best silly tamale of all time and I just cried. Like a little girl. It has been a rough year and nothing has broke my way. This was so out of left field I just couldn't deal.
In the 5 months since I have changed a couple of tires, given a few rides to gas stations and, once, went 50 miles out of my way to get a girl to an airport. I won't accept money. Every time I tell them the same thing when we are through:
"Today you.... tomorrow me."
- Omeymaa and •eve• like this
Posted 12 March 2012 - 04:43 PM
Posted 12 March 2012 - 06:08 PM
Posted 17 March 2012 - 07:43 PM
The £1bn backlash: Shares plummet in Goldman Sachs after disgusted former executive says bank rips off its clients and calls them 'muppets'
- Shares in New York plunged 3.4% after Greg Smith's resignation in open letter to New York Times
- He blamed top bosses for 'decline in moral fiber' and being more interested in making money than looking after clients' interests
- However, sources today claim he was disgruntled after losing out on promotion
Today is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.
To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Goldman Sachs is one of the world’s largest and most important investment banks and it is too integral to global finance to continue to act this way. The firm has veered so far from the place I joined right out of college that I can no longer in good conscience say that I identify with what it stands for.
It might sound surprising to a skeptical public, but culture was always a vital part of Goldman Sachs’s success. It revolved around teamwork, integrity, a spirit of humility, and always doing right by our clients. The culture was the secret sauce that made this place great and allowed us to earn our clients’ trust for 143 years. It wasn’t just about making money; this alone will not sustain a firm for so long. It had something to do with pride and belief in the organization. I am sad to say that I look around today and see virtually no trace of the culture that made me love working for this firm for many years. I no longer have the pride, or the belief.
But this was not always the case. For more than a decade I recruited and mentored candidates through our grueling interview process. I was selected as one of 10 people (out of a firm of more than 30,000) to appear on our recruiting video, which is played on every college campus we visit around the world. In 2006 I managed the summer intern program in sales and trading in New York for the 80 college students who made the cut, out of the thousands who applied.
I knew it was time to leave when I realized I could no longer look students in the eye and tell them what a great place this was to work.
When the history books are written about Goldman Sachs, they may reflect that the current chief executive officer, Lloyd C. Blankfein, and the president, Gary D. Cohn, lost hold of the firm’s culture on their watch. I truly believe that this decline in the firm’s moral fiber represents the single most serious threat to its long-run survival.
Over the course of my career I have had the privilege of advising two of the largest hedge funds on the planet, five of the largest asset managers in the United States, and three of the most prominent sovereign wealth funds in the Middle East and Asia. My clients have a total asset base of more than a trillion dollars. I have always taken a lot of pride in advising my clients to do what I believe is right for them, even if it means less money for the firm. This view is becoming increasingly unpopular at Goldman Sachs. Another sign that it was time to leave.
How did we get here? The firm changed the way it thought about leadership. Leadership used to be about ideas, setting an example and doing the right thing. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence.
What are three quick ways to become a leader? a) Execute on the firm’s “axes,” which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) “Hunt Elephants.” In English: get your clients — some of whom are sophisticated, and some of whom aren’t — to trade whatever will bring the biggest profit to Goldman. Call me old-fashioned, but I don’t like selling my clients a product that is wrong for them. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym.
Today, many of these leaders display a Goldman Sachs culture quotient of exactly zero percent. I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It’s purely about how we can make the most possible money off of them. If you were an alien from Mars and sat in on one of these meetings, you would believe that a client’s success or progress was not part of the thought process at all.
It makes me ill how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as “muppets,” sometimes over internal e-mail. Even after the S.E.C., Fabulous Fab, Abacus, God’s work, Carl Levin, Vampire Squids? No humility? I mean, come on. Integrity? It is eroding. I don’t know of any illegal behavior, but will people push the envelope and pitch lucrative and complicated products to clients even if they are not the simplest investments or the ones most directly aligned with the client’s goals? Absolutely. Every day, in fact.
It astounds me how little senior management gets a basic truth: If clients don’t trust you they will eventually stop doing business with you. It doesn’t matter how smart you are.
These days, the most common question I get from junior analysts about derivatives is, “How much money did we make off the client?” It bothers me every time I hear it, because it is a clear reflection of what they are observing from their leaders about the way they should behave. Now project 10 years into the future: You don’t have to be a rocket scientist to figure out that the junior analyst sitting quietly in the corner of the room hearing about “muppets,” “ripping eyeballs out” and “getting paid” doesn’t exactly turn into a model citizen.
When I was a first-year analyst I didn’t know where the bathroom was, or how to tie my shoelaces. I was taught to be concerned with learning the ropes, finding out what a derivative was, understanding finance, getting to know our clients and what motivated them, learning how they defined success and what we could do to help them get there.
My proudest moments in life — getting a full scholarship to go from South Africa to Stanford University, being selected as a Rhodes Scholar national finalist, winning a bronze medal for table tennis at the Maccabiah Games in Israel, known as the Jewish Olympics — have all come through hard work, with no shortcuts. Goldman Sachs today has become too much about shortcuts and not enough about achievement. It just doesn’t feel right to me anymore.
I hope this can be a wake-up call to the board of directors. Make the client the focal point of your business again. Without clients you will not make money. In fact, you will not exist. Weed out the morally bankrupt people, no matter how much money they make for the firm. And get the culture right again, so people want to work here for the right reasons. People who care only about making money will not sustain this firm — or the trust of its clients — for very much longer.
Source: The New York Times
Read more: http://www.dailymail...l#ixzz1pPAVMH8A
Posted 18 March 2012 - 12:04 PM
An old man walked across the beach until he came across a young boy throwing something into the breaking waves. Upon closer inspection, the old man could see that the boy was tossing stranded starfish from the sandy beach, back into the ocean. "What are you doing, young man?" He asked. "If the starfish are still on the beach when the sun rises, they will die," the boy answered. "That is ridiculous. There are thousands of miles of beach and millions of starfish. It doesn't matter how many you throw in; you can't make a difference." "It matters to this one," the boy said as he threw another starfish into the waves. "And it matters to this one."
- wise-man001 and •eve• like this
Done is better than perfect.
Posted 23 March 2012 - 10:30 AM
Fatony bro, that just looks so long, I stopped half way through, What's the summary?
Is it all about how the customer now is not the priority, but making profit is?
Anyway, there's this joke that's been roaming around, you probably read on twitter, but I'm gonna write it anyway.
So there's this person's mom that thinks that "LOL" stands for "lots of love" so she sends him a text that says:
"Grandpa just died.
Sorry, but that's just hilarious