The Chicago Sun-Times reports that 16 traders at the Chicago Board Options Exchange were jumping for joy on hearing the news that they had won $175,000 on the Mega Millions lotto last month. Word of their win spread after they sent a junior co-worker to check the 32 tickets that they pooled together to buy for the draw held on 30th December. Trouble is, the winning ticket has disappeared and their co-worker has been charged by the police with felony theft for allegedly pocketing it! She is free on $25,000 bail.
For many, 2002 was the year of the zero bonus. Unfortunately, for some, 2003 will be the year of the negative bonus.
The Evening Standard reports that a Citigroup equity analyst was allegedly escorted from the firm's Docklands offices last week in his underpants after he apparently returned from lunch 'the worse for wear'.
As bonus time approaches again, we bring back by popular demand 'The CityNews Bonus Song', to be sung to the tune of 'Summer Nights' from 'Grease'.
The Guardian reports that Commerzbank paid a former employee too much in bonus in 2000. The bank went to court and, after quite a fight, its ex-employee has been ordered to return the overpaid amount.
Reuters reports that a former Enron worker plans to release a rap record about the company on December 3rd, the second anniversary of the failed energy giant filing for bankruptcy.
The Times reports that the first lot of Indian workers have apparently arrived at Goldman Sachs' Fleet Street offices for a look around and induction training. Staff are said to be somewhat wary of them.
Here are a few of your comments on the subject of risk management:
It was only on Monday that Here Is The City speculated that there are more 'rogue' traders out there than we know about. By Thursday, another one came out of the closet.
Fortune has revealed that Goldman Sachs, a firm which came in 9th in the magazine's latest 100 Best Companies to Work For listing, now has health insurance coverage as part of its benefits plan which provides for 'sex reassignment surgery' (that's a sex change to me and you)
Just as the technology industry’s glass ceiling is being shattered by high-profile executives like Facebook's Sheryl Sandberg and Yahoo’s Marissa Mayer, Silicon Valley is showing signs it’s still a boys club.
Goldman Sachs has been granted approval to build a new 'banking factory' in London, ending a protracted bid to develop the site that was held up by protected murals on the existing building.
European leaders reached an agreement with Cyprus early on Monday morning that closes down the island's second-biggest bank and inflicts huge losses on wealthy savers.