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1月12日

Strip Clubs & Wall Street

Not a day goes by that we aren’t hearing about how stupid Wall Street are getting into trouble frequenting “adult entertainment establishments,” or strip clubs. As we reported Morgan Stanley even fired a bunch a salesmen for taking a woman client to a strip club and paying for it out of their own pocket. The Morgan news created a fairly heated debate on Wall Street about whether such behavior is acceptable (the best you can say is that sometime it is and sometime it isn’t)

          So the Bob Woodward of TV-Financial-Early-Morning broadcasting (note all the qualifiers) Matt Greco did a little digging to find out what Wall Street firms are “stripper friendly,” allowing their employees to use strip clubs as a way of getting business, and which were not. The results will surprise you.

          Nearly ever major Wall Street firm appears now to be following Morgan Stanley’s lead and telling their employees to stay away from “adult entertainment establishments,” including Merrill Lynch, Bear Stearns, Citigroup, and Bank of America. (Lehman never called back with an answer). They offered up relatively similar explanations, that using “adult entertainment establishments” to gin up business is “inappropriate,” “unprofessional,” ect., ect., ect.,

          But what we found interesting was the one firm that appears to have no problem with stripper clubs: Goldman Sachs. Apparently those white shoe bankers at Goldman have no problem taking their white shoes into places like Scores in New York City, or Skin, the Phoenix-area strip joint that got the Morgan Stanley guys fired. A Goldman Sachs spokesman we “expect our people to use good judgment at all times,” though he added that at Goldman you can be fired for stupidity, meaning that anyone getting their names in the paper for attending an “adult entertainment establishment” could be looking for another job.

          Ironically, the source of these very strict stripper-club rules is not the market’s two self-regulatory organizations, the NASD or the NYSE. Both say they don’t have specific rule prohibiting stripper clubs as a business venue.

 

Charles Gasparino - CNBC

评论 (7)

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2 月 23 日
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What he said 发表:
So far, no one has said it better than this:

STOP PUNISHING YOUR AUDIENCE!!!

I am 48 years old and have really enjoyed television for at least 47 of those years. In all that time, I have never seen anything as dreadully insensistive to an audience as the CNBC/Squawk-Box makeover. CNBC now boasts the worst graphic design in the history of graphic design and they are literally painful to look at. The mindlessly added sound-effects profoundly intensify the pain. That I can handle as it is no problem turning off the sound now that the only really worthwhile listen - Squawk-Box - has been so grotesquely brutalized. The decision makers at CNBC are beyond the worst in television history and can only be compared to the worst decision makers in corporate or even barter-economy history. "New Coke" was great compared to "New CNBC". Fortunately, my satellite system carries the so-so Bloomberg channel, so I don't have to gaze upon the horror that is now CNBC. There are, however, thousands of thoughtful professionals in offices that are not so lucky and are forced to endure CNBC's new, root-canal-like presence. If the management at CNBC really cared, at all, about their viewers, the hideous and insulting redesign would never have happened and they would return to the prior version of CNBC and Squawk Box immediately!!!
1 月 20 日
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racerxqd 发表:
Finally a topic Gasparino might have some real knowlegde of. Glad I missed it.

bloomberg
1 月 17 日
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PlannedPaladin 发表:
Where exactly would be a good place for a cable/satellite client who has product that will be running videos that feature strip clubs as places of business?
Even in this klittle one horse town(may it rest in peace) was trying top promote one special avenue as a place for such establishments. They have named a school after him!His proposal did not go through and the area suffered to the point that city services do not regularly patrol the area.We need to get real about what is happening on the streets! We do not have gambling but I think on a national basis legislators are beginning tio realize porfit although sometimes ill begotten fuels our tax base and can be well managed. Ask former cabinet memebers who only vice seems to be gambling!
1 月 17 日
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Geoffrey 发表:
I believe that strip clubs should not be a place where business needs to occur. There are lots of other reasonable places like restaurant's, golf course's, and other appropriate locations other than the office that business can take place. The Morgan Stanley employees were justly fired for taking a woman client into a strip club even if they paid for it out of their own pocket. I think it is absolutely inappropriate to mix "sex" and "work" even if a male client was taken to a strip club by female employees.
1 月 12 日
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TBB 发表:
How is it different from taking clients to the movies or to dinner, or from saleswomen taking women clients to a spa or something like that. This sort of thing shouldn't be regulated it should depend on the morals of the salesmen and the clients.
1 月 12 日
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botsawania 发表:
This is obviously an attack against perceived male standards in the work place which are taking place outside the workplace at their own expense. However, it could backfire. Many organizations support "women only" functions such as women business support groups, etc. What will happen to these secular groups whose only function is gender based, but supported by management? I also wonder if some of the female employees at CNBC got behind this story and propped it up a little to send CNBC management a warning about the recent changes.
1 月 12 日

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