Lehmans

ad44downey

Lies, damned lies and statistics. Your selective statistics prove nothing. ( I see you've edited them already!)

Chucky is trying to defend the indefensible yet again, no suprise there then. Anyone who is on the take and gambles with this country's survival and chucky will spring to their defence.

ad44downey

chucky wrote: »

you really are a very stupid woman

Less of the abuse thank you very much.

Your selected statistics prove nothing. Indeed the source you did quote had starting salaries of over £35K. So god knows what the average salary is for the company as a whole after massive bonuses.

I made the mistake of trying to debate with you but I should have known better as everyone else knows you're nothing but a troll. I won't be making that mistake again I promise you.

ad44downey

Don't feed the troll.

P.S. chucky I've reported your abuse to the mods.

Dan:_4

ad44downey......why don't you try actually reading people's posts fully???

neverdespairgirl

ad44downey wrote: »

Chucky is trying to defend the indefensible yet again, no suprise there then. Anyone who is on the take and gambles with this country's survival and chucky will spring to their defence.

I don't think that's quite fair - Chucky isn't saying they aren't reasonably well-paid, he's pointing out (correctly) that the very large sums paid to some do distort the figures a bit.

tomstickland

Barclays got a bargain:
http://news.bbc.co.uk/1/hi/business/7626624.stm

$1.3bn (£700m) plan for Barclays to buy the core business of collapsed US investment bank Lehman Brothers.
The deal gives the UK bank ownership of Lehman's Manhattan skyscraper - worth nearly $1bn -

sabretoothtigger

I read at first they just bought plain building assets, but they have now extended the deal to include dealership and actual lehman business which is what I thought they had done
Plus barclays have sold shares equalivent to the purchase price so have not increased their debt at all

[SIZE=+1]US court okays sale of Lehman Brothers units to Barclays[/SIZE] [SIZE=-1] [SIZE=-2]Click to enlarge photo[/SIZE] NEW YORK (AFP) - A US bankruptcy court Saturday approved the sale of key assets of fallen US investment bank Lehman Brothers (NYSE: LEH - news) to its British competitor Barclays (LSE: BARC.L - news) .
"The purchase agreement constitutes the highest and best offer for the purchased assets, and will provide a greater recovery for the debtors' estates than would be provided by any other available alternative," US judge James Peck. Under the 1.75-billion-dollar deal, Barclays will acquire Lehman Brothers' investment banking and trading units that employ about 9,000 people in the United States and a skyscraper the bankrupt US firm occupied in Manhattan. The purchase also involve Lehman Brothers branches Canada, Argentina and Uruguay. Lehman Brothers went bankrupt last Monday, plunging the global financial system into turmoil. The massive Lehman bankruptcy filing in US federal court in New York listed 639 billion dollars in assets and 613 billion in debt. The Chapter 11 filing came after Barclays walked away from a merger deal with the beleaguered US investment giant, saying that such a tie-up would not have been in the best interests of Barclays' shareholders. But Barclays announced in a statement Wednesday that it had reached an agreement to acquire Lehman Brothers North American investment banking and capital markets businesses. "This is a once in a lifetime opportunity for Barclays," said the British bank's president, Robert Diamond. "We will now have the best team and most productive culture across the world's major financial markets, backed by the resources of an integrated universal bank." Judge Peck said in his ruling that the sale "must be approved and consummated promptly in order to preserve the viability of the businesses subject to the sale."[/SIZE]

Barclays shares rose by about a third yesterday and then fell back to end 26%, considering they dumped a load of shares onto the market at the same time and also the index fell when usa opened that is alot of strength shown

napoleon

Investment bankers on only 35K per year? LOL. That'll be the day. Average house price in London is more than 350K. You couldn't get a rabbit hutch for that wage.

WTF?_2

neverdespairgirl wrote: »

I don't think that's quite fair - Chucky isn't saying they aren't reasonably well-paid, he's pointing out (correctly) that the very large sums paid to some do distort the figures a bit.

Sure- but his own source

http://www.prospects.ac.uk/cms/ShowPage/Home_page/Explore_types_of_jobs/Types_of_Job/p%21eipaL?state=showocc&idno=488&pageno=2

suggested that the average starting salary was £35k. That figure isn't going to be skewed by the big earners as they will be experienced people.

That doesn't really tie up well with his claim "the average salary of an investment bankers is between £35k and £50k dependant on who you work for". If the entry level salary was £35k on average, you'd expect the overall average to be quite a bit higher.

Even a 50k estimate of average salary looks extremely conservative given that " this is then distorted by those earning the big bucks, with the HUGE bonus".

In fact, his other quote

http://www.itjobswatch.co.uk/jobs/london/investment%20banking.do

shows an average salary of £65k ... somewhat far removed from the £35k he tried to suggest was common.


Still - providing quotes is a major step forward towards serious debate for chucky. He just needs to get the hang of providing quotes that support his POV instead of blowing it out of the water.

mewbie_2

I am on Chucky's side with this one.

Here...

"The average starting salary is £35,500, well above the average UK graduate starting salary of £23,500 (salary data collected February 08). After three or more years, salaries may range between £50,000 and £75,000. Those with significant experience may earn a base salary of around £150,000 (salary data collected February 08). "

I would copy link but its very long, so as Chucky suggests - type into Google "investment banker average salary"