Goldman Sachs Slashes Pay by 45%

Now, that's a serious pay cut.

One could argue that it is a result of weak performance, prevailing conditions, poor decisions, etc.

I personally believe the high-paying financial sector jobs are now seeing what the manufacturing jobs have seen for the past decade.

To quote what is in the article:
“We think the industry is in the process of repricing its labor pool,” Guy Moszkowski, an analyst at Merrill Lynch & Co. in New York, wrote in a Dec. 3 note to investors. “We think it’s reasonable to expect this given the very weak earnings and outlook for next year and the fact that the labor environment is inhospitable.”

Globalization's premise of moving labor and capital to areas where the costs are low will have an impact. It is unsustainable to have such huge disparities between nations. There will be a "great levelling". Or as Tom calls it: "The World is Flat".

I wonder if this is the beginning of the trend where pay scales & quality of life in industrialized nations will drop sequentially.

Until of course, there is a massive investment in new technologies and innovations that breed local jobs. Local jobs that are difficult to be outsourced. Local jobs that are attract people community college graduates and PhDs from Ivy league universities, alike.

Mark Cuban's Blog -- Stocks

Fascinating set of entries by Mark Cuban.

http://blogmaverick.com/2008/09/08/talking-stocks-and-money/

The Choice of Biden as Obama's Vice President

There is one specific thing that I am really pleased about, when it comes to the pick.

One word: Amtrak.

Here's the guy who used to board the Amtrak every day, from DC to Delaware. I am truly hoping US finally gets and understand the true benefits of public mass transportation. That's one more way to address the issue of America's addiction to foreign oil.

Indian Stock Analysts

Of late, I have been watching CNBC India, to understand the Indian Stock Market. One thing really strikes me as really odd.

I have been watching this for a couple of weeks now, and I am amazed at all the talking heads on the channel. All the so called experts are basically & purely "technical analysts". Almost everyone on the channel is obsessed with reading charts & interpreting momentum, moving averages, resistances, etc.

Whatever happened to good old fundamental analysts??

It is a sad day...

My Sundays will never be the same.

Among all the news/PR personalities, Tim Russert was at the top of the game.

May he rest in peace.

We found 23 stores that may have this book...

... but, actually none do.

I was looking for this book: "India: From Midnight to the Millennium and Beyond", by Shashi Tharoor. I heard a speech on this book by him - and I decided that it should be the next addition to my book collection.



I was checking if the local Barnes and Noble carried this book - so that to buy this today. Yes, every now and then, I am an impulse buyer to every retailer's delight.



Here's what I found.

"We found 23 stores in or near 20814 that may have this item in-stock as of Apr 20, 2008." Only one minor problem. Except that that each one of them said in the Availability column: "Not in Stock".

I wonder. What's the point of this feature? How hard can it be to show only those stores that have this book in stock? (and in this case: zero.)

Lego's Business and Marketing

My daughter will turn four soon. I was waiting for this time for the past four years, because I would be able to buy her a Lego model.


I was first exposed to Lego thanks to a very kind family friend who gifted a Lego Set to me. My first Lego set was: Lego Bus Station (Model 379), and it was released in 1979. I was reminded of those days all over again today.





Today, I bought my daughter's first Lego set. It is the Ultimate LEGO Building Set (6166). Here's the picture, on the right. We had great fun, and I was transported in time.


So, I went back to the local Lego Store, to get more bricks. And that's where a bunch of things struck me. I was looking for a large brick box. "Sorry", I was told, "we don't carry those". "We can order from the Lego online store and ship it", they said. "That works", I thought to myself.

Except the model I was looking for, was from LegoEducation.com. "Oops, we can't go to that website, from our store". "What?? You are Lego, and that is Lego too... what's going on?" I spent $71 at the store, nevertheless.


There was a gift waiting for me at the cashier's counter. "Because you spent more than $50, here is a Bionicle..." Okay, but I don't want a Bionicle. I don't like the look of those things, honestly. But, if you truly like the fact that I spent over $50, can I get something else in it's place? Nopes, tough luck. I said fine, Bionicle it is. (really, how much better a customer experience would it have been, if they said: you can add $x more worth stuff, because you spent $50... your choice. Now, that would have been delightful.)

Anyway, I went looking at the Lego's website to order the large brick box I wanted online. More weirdness. "Limit to 5". "Stock unavailable". Are they really trying to reduce supply? What's going on here? Are these beanie babies? They are bricks afterall.

Finally, I went to http://www.craigslist.com/. There was a local dude that was selling over 5,000 pieces from his collection, for around $75. So much for "limit to 5".

Lego, you've lost a customer. For me, it is craigslist from now on.