Comments on: Labor Day And The Economy http://www.jeremycwilson.com/2009/09/labor-day-and-state-of-economy/ BizLaw Blog: Learn about business school, law school, careers, and leadership from a Stanford Grad, MLT Alum, and Northwestern JD-MBA Wed, 08 Sep 2010 14:14:43 -0500 hourly 1 http://wordpress.org/?v=3.0 By: Jeremy http://www.jeremycwilson.com/2009/09/labor-day-and-state-of-economy/comment-page-1/#comment-91 Jeremy Mon, 14 Sep 2009 22:41:53 +0000 http://www.jeremycwilson.com/?p=43#comment-91 @thestudentcpa--Thanks for the clarification. @thestudentcpa–Thanks for the clarification.

]]> By: thestudentcpa http://www.jeremycwilson.com/2009/09/labor-day-and-state-of-economy/comment-page-1/#comment-90 thestudentcpa Mon, 14 Sep 2009 14:47:08 +0000 http://www.jeremycwilson.com/?p=43#comment-90 J.C<br /><br />Many thanks for your rebuttal.<br /><br />Just wanted to acknowledge that I inadvertently mischaracterized the bonus payments as advanced payments. Nevertheless, there are some practices about bonus awards on Wall Street such as guaranteed bonuses (regardless of performance) that deserve to be scrutinized. In addition, the parameters for awarding bonuses on Wall Street are such that brokers and traders make calls for short term gains as opposed to long term gains. Anyway, each company is free to compensate its employees the way it sees fit, however that doesn't shield them from being criticized. J.C

Many thanks for your rebuttal.

Just wanted to acknowledge that I inadvertently mischaracterized the bonus payments as advanced payments. Nevertheless, there are some practices about bonus awards on Wall Street such as guaranteed bonuses (regardless of performance) that deserve to be scrutinized. In addition, the parameters for awarding bonuses on Wall Street are such that brokers and traders make calls for short term gains as opposed to long term gains. Anyway, each company is free to compensate its employees the way it sees fit, however that doesn't shield them from being criticized.

]]> By: Jeremy http://www.jeremycwilson.com/2009/09/labor-day-and-state-of-economy/comment-page-1/#comment-86 Jeremy Sat, 12 Sep 2009 14:25:18 +0000 http://www.jeremycwilson.com/?p=43#comment-86 @M!NU5--Thanks for the comment, and I certainly hope you're right about the future. There seem to be a lot of good signs that the economy will recover as a whole. I think my post is more reflective of my perspective, as personally I always like to keep some of my focus on the individual and on the common guy, to whom I'd argue the economy still seems grim. I think this is why my post isn't a bit more optimistic.<br /><br />I do really like your point about entrepreneurship. The good thing about the capital markets system is that whenever more established opportunities are eliminated, new opportunities are always spawning, as you suggested. What I didn't make mention of here, or in many posts at all yet, is that aside from employment/labor/careers issues, I'm also largely interested in entrepreneurship. So I really do like your point. <br /><br />Glad you enjoyed your internship. Good luck in your career decisions over the next year. @M!NU5–Thanks for the comment, and I certainly hope you're right about the future. There seem to be a lot of good signs that the economy will recover as a whole. I think my post is more reflective of my perspective, as personally I always like to keep some of my focus on the individual and on the common guy, to whom I'd argue the economy still seems grim. I think this is why my post isn't a bit more optimistic.

I do really like your point about entrepreneurship. The good thing about the capital markets system is that whenever more established opportunities are eliminated, new opportunities are always spawning, as you suggested. What I didn't make mention of here, or in many posts at all yet, is that aside from employment/labor/careers issues, I'm also largely interested in entrepreneurship. So I really do like your point.

Glad you enjoyed your internship. Good luck in your career decisions over the next year.

]]> By: M!NU5 http://www.jeremycwilson.com/2009/09/labor-day-and-state-of-economy/comment-page-1/#comment-85 M!NU5 Sat, 12 Sep 2009 13:53:16 +0000 http://www.jeremycwilson.com/?p=43#comment-85 Hey Jeremy, <br /><br />I agree on the meta-trends you've highlighted, but don't think the future is as grim as it seems. <br /><br />They say a holy grail for the boomer generation was home ownership. Legislative and business bent over time to accommodate this goal (i.e. more lenient credit risk assessments, larger loans, optimistic bucketing of home as an ever-appreciating investment). <br /><br />Lately, I've been hearing comments to the effect that this grail has been replaced for many by success = working for oneself. While many of the trends you've highlighted threaten career aspirations predicated on job security, they also enable a more entrepreneurial ambition to come through.<br /><br />(PS internship was awesome. Not sure what the future brings, beyond CO and a role with a high degree of autonomy. We'll see if I'm able to add value for them on those terms. :D ) Hey Jeremy,

I agree on the meta-trends you've highlighted, but don't think the future is as grim as it seems.

They say a holy grail for the boomer generation was home ownership. Legislative and business bent over time to accommodate this goal (i.e. more lenient credit risk assessments, larger loans, optimistic bucketing of home as an ever-appreciating investment).

Lately, I've been hearing comments to the effect that this grail has been replaced for many by success = working for oneself. While many of the trends you've highlighted threaten career aspirations predicated on job security, they also enable a more entrepreneurial ambition to come through.

(PS internship was awesome. Not sure what the future brings, beyond CO and a role with a high degree of autonomy. We'll see if I'm able to add value for them on those terms. :D )

]]> By: Jeremy http://www.jeremycwilson.com/2009/09/labor-day-and-state-of-economy/comment-page-1/#comment-84 Jeremy Fri, 11 Sep 2009 21:20:12 +0000 http://www.jeremycwilson.com/?p=43#comment-84 @Anonymous--Compensation valuation is a very difficult topic and takes years to master. There are folks who do this for a living and they still debate many of these assumptions among themselves. Thanks for the kind words about my blog & post. @Anonymous–Compensation valuation is a very difficult topic and takes years to master. There are folks who do this for a living and they still debate many of these assumptions among themselves. Thanks for the kind words about my blog & post.

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