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Latest Other News In Brief

Bloomberg reports that income from AIG's alternative investments group (basically its private equity and hedge fund business) fell 84% from $1.22bn a year ago to just $197m in the first quarter. AIG posted a $7.81bn first-quarter loss last week.

A Few Offshoring Gems

There have been rumours that offshoring hot spots like India are finding it hard to attract and retain quality staff at the right price, and have been offshoring work themselves to cheaper locations (a sort of subcontracting offshoring thing).

A Few Gems On The Diversity Front

'Selling Women Short - Gender and Money on Wall Street' by Louise Marie Roth (Princeton University Press) is a good read. Here are a couple of diversity gems mentioned in the book:

'Rogue' E-Mails Cost Top Firm Dearly

According to a number of press reports, another investment bank has been caught out by the e-mail bug. In this case, there are reports that a 'rogue' firm employee (or employees) jumped the gun and sent out unauthorized e-mails to 175 institutional clients in connection with the forthcoming $1.5bn Hertz IPO.

Fare Dodgers - Your Views (Updated)

We asked you for your views about fare dodgers. The issue hit the news again this week, after Ticket Inspectors allegedly throttled a fare-dodging suspect, physically detaining him until he was taken away by police. Here are some of your views on this subject:

Cost Savings - Your Views/Stories

Both Citigroup and Credit Suisse have been in the news recently as they are pulling in their belts in an attempt to rein in costs. Credit Suisse boss Brady Dougan has told staff that, among other things, they can no longer use color photocopying - unless it's for a client presentation. At Citigroup, during another attempt to cut costs, staff were apparently told not to order a taxi unless they were ready to use it. The company didn't want to pay for any cab 'waiting' time.