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Barclays shares drop like a stone after shock news
Comments
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Not at all unusual in the world of investment banking. Look at Goldman Sachs!
It's interesting, isn't it, that in most other industries everyone would be cheering if a company shared the profit with the staff instead of giving it all to the shareholders, whereas in banking it's seen as a terrible thing to do.
While there might always be a suspicion that banks have engaged in something of an arms race with respect to feeling that they have to pay for the "talent", it's also pretty much the case that the biggest real asset an investment bank has is its staff. They aren't paying us out of altruism, but rather they are paying us the minimum that they think that that they can get away with without having us leave.
They know that we are a mercenary lot. I, for example, find myself thinking of a move to Canary Wharf today, possibly to Barclays...0 -
grizzly1911 wrote: »I am not surprised that the markets are hammering the shares.
But they aren't. The shares are only 3.75% down on the day, taking them back to where they were a week ago.0 -
There’s no bigger story in the markets today…
Barclay's latest results have caused shockwaves in the City.
Put simply, profits are down but bonuses are up.
The shares are the worst performer in the FTSE 100, down around 5%.
I think the drop is actually based on the fact someone is running around secretly killing bankers0 -
Barclays shares drop like a stone after shock news
Less than 4%?
That's a minor correction. Not dropping like a stone.
Calm down!0 -
It's interesting, isn't it, that in most other industries everyone would be cheering if a company shared the profit with the staff instead of giving it all to the shareholders, whereas in banking it's seen as a terrible thing to do.
Thats because in most other industries - where wealth is created instead of just shifted around, workers are paid far less.
What got me most of all was on the BBC news today a banker saying we have to reward the risk takers:mad: Whose money are they risking!!!!!!!!“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
They stopped being a partnership about 20 years ago so that the partners could cash in their chips and walk away with billions. But I do agree that the directors still run it like a partnership and the other banks, like Barclays "have to do the same, otherwise they would lose all their "talent""! Sad or what?I believe they were a partnership that subsequently converted, so shares either held by employees or at least people who were aware of the situation, and of course a non retail bank.
unfortunately I don't have that "talent" so I'm just a shmuk shareholder.?0 -
Pretty strange to talk of "talent" responsible for decrease in profits.0
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Pretty strange to talk of "talent" responsible for decrease in profits.
It's teh same in any overhyped business with an excess of money.
The very top people are worth the money in any business but the dross manage to get massively overpaid on their coat tails or a misplaced sense of potential.
Football is the obvious analogy, beckham, Ronaldo and messi make real sense as an investment in both financial and success terms but the £1 million quid a year that Sunderland or palace are paying for their reserve centre halves is complete madness.
Mind you at least in football there's only a limited contract and there's a decent chance you can sell them to Newcastle!0 -
But they aren't. The shares are only 3.75% down on the day, taking them back to where they were a week ago.
And only 12% down on 12 months ago a resoundingly good year. No doubt all the Transformation work will pay dividends one day. Domestic job losses will no doubt balance the books and degrade service further.
Not sure all staff are assets many have been a pretty large liability with the various compensation arrangements and regulatory fines being paid out. I doubt they will be returning their previously generous compensation packages either.
(Edit:-The 12% down allows for the rights dilution effect)"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
Glen_Clark wrote: »Thats because in most other industries - where wealth is created instead of just shifted around, workers are paid far less.
What got me most of all was on the BBC news today a banker saying we have to reward the risk takers:mad: Whose money are they risking!!!!!!!!
In the days of the original investment bankers it was there own capital at stake and the compensation packages justifiable.
Then then they sold out, trousered the profit, then started gambling other peoples capital and still demanding the compensation.
A shame they hadn't been paid in the carp assets they had spawned rather than in hard cash or freely converted quality shares.
Worth a read if somewhat repetitive in places. Especially how they treated with contempt anyone who tried to apply a break on their reckless behaviour.
http://www.amazon.co.uk/Chasing-Goldman-Sachs-Masters-Universe/dp/0307888312/ref=sr_1_1?ie=UTF8&qid=1392153313&sr=8-1&keywords=chasing+goldman+sachs"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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