9 ms·

The Scene at Lehman Brothers London on Friday

35 points by raganwald 18y ago

kqr2 18y ago
Another predictor of bad news I have observed is when the human resources (HR) department stays late. Usually, they are the first to leave. When I've seen them stay late, the next day there were layoffs. They were busy preparing all the layoff packets.
- bootload 18y ago
  "... Another predictor of bad news I have observed is when the ..." But a lot of Startups don't have HR or departments. The key indicator here is observing principals and noticing any odd behaviour. The example that comes to mind was a mass-sacking at a Startup I worked at where out of character behaviour of the founder(s) and various hanger-ons ("they all got short skin-head haircuts") the day before mass sackings. One day it was normal at work, the next day it was a meeting at an off site building where the difference between being sacked and keeping your job was being sent left up the stairs or right to get your termination notice. The difference being there is a definite "in" loop that had prior knowledge. The leader(s) did not have the balls to address the sacked staff and inform them management stuffed up, hired fast, let go slow and was running out of cash. As for me, I got sent to the left ("and congratulated for keeping a job") a lot of other work mates didn't. I left after the work environment became toxic and invoked my "no working for dickheads" policy. You can read about the companies fortunes here ~ http://www.firstmonday.org/ISSUES/issue6_3/doheny/ http://www.firstmonday.org/ISSUES/issue6_3/doheny/ and here ~ http://150.theage.com.au/view_bestofarticle.asp?straction=update&inttype=1&intid=101 http://150.theage.com.au/view_bestofarticle.asp?straction=up... Working in Startups is no guarantee to a permanent job but how you fire people is just as important as hiring them.
vaksel 18y ago
the khaki guy is probably in IT
- michaelneale 18y ago
  Or he is just relieved that it is over. I can't imagine working in a place like that would be fun - it could only really be about the money (and perhaps some comraderie). So when its all ending, there is kind of a release...
  - andreyf 18y ago
    So when its all ending, there is kind of a release... It's not just that, but also the unemployment compensation. I have some friends in the industry who can't wait to be laid off - even low-ranking positions get 3 months of severance pay from the company (+ more from the state if you don't find a job by then) amounts to a nice vacation if you're smart enough to not be worried about finding a new job.
    - gaius 18y ago
      According to friends of mine there, once its positions are unwound, the entity formerly known as Lehman's might not even have the money for this month's wages, let alone any redundancy payouts.
  - jyothi 18y ago
    I bet. He is probably positive as someone finally moved his cheese and he has new things to look up to now.
  - mseebach 18y ago
    Working in investment-banking is only about the money, in much the same way that IT is only about typing.
whacked_new 18y ago
What's the giveaway message from the khaki guy? He has one leg curved? He is on the side? What am I missing? Doesn't this assume there is no other guy dressed in the -- unobvious -- black pants taking a similar pose?
- ars 18y ago
  Hunched shoulders means worried, or otherwise in a down mood. (The hunch is a defensive position - minimize body area available for attack.) Crossed legs means relaxed and thus not worried. (Relaxed because crossed legs means not ready for immediate action.) Take a class in this, or ask a friend. Movies are great for this - have someone identify each body language as you come to it. Just learn it the same as you learn math - memorize each pose until you find the underlying pattern common to all.
fallentimes 18y ago
I think it means he's the smartest guy in the room.
jyothi 18y ago
Maybe the truly dangerous “LHC” isn’t the Large Hadron Collider, but the Lehman Holdings Collapse. good one!
gscott 18y ago
In Boston http://www.berkshireeagle.com/ci_10468916 http://www.berkshireeagle.com/ci_10468916 and New York http://money.cnn.com/2008/09/14/news/companies/lehman_workers.fortune/index.htm?cnn=yes http://money.cnn.com/2008/09/14/news/companies/lehman_worker...
gojomo 18y ago
But I want to know: did he wear khaki on Friday, too -- or is this him "cutting loose" for his last day?

35 points by raganwald 18y ago

kqr2 18y ago

Another predictor of bad news I have observed is when the human resources (HR) department stays late. Usually, they are the first to leave. When I've seen them stay late, the next day there were layoffs. They were busy preparing all the layoff packets.

bootload 18y ago
"... Another predictor of bad news I have observed is when the ..." But a lot of Startups don't have HR or departments. The key indicator here is observing principals and noticing any odd behaviour. The example that comes to mind was a mass-sacking at a Startup I worked at where out of character behaviour of the founder(s) and various hanger-ons ("they all got short skin-head haircuts") the day before mass sackings. One day it was normal at work, the next day it was a meeting at an off site building where the difference between being sacked and keeping your job was being sent left up the stairs or right to get your termination notice. The difference being there is a definite "in" loop that had prior knowledge. The leader(s) did not have the balls to address the sacked staff and inform them management stuffed up, hired fast, let go slow and was running out of cash. As for me, I got sent to the left ("and congratulated for keeping a job") a lot of other work mates didn't. I left after the work environment became toxic and invoked my "no working for dickheads" policy. You can read about the companies fortunes here ~ http://www.firstmonday.org/ISSUES/issue6_3/doheny/ http://www.firstmonday.org/ISSUES/issue6_3/doheny/ and here ~ http://150.theage.com.au/view_bestofarticle.asp?straction=update&inttype=1&intid=101 http://150.theage.com.au/view_bestofarticle.asp?straction=up... Working in Startups is no guarantee to a permanent job but how you fire people is just as important as hiring them.

vaksel 18y ago

the khaki guy is probably in IT

michaelneale 18y ago
Or he is just relieved that it is over. I can't imagine working in a place like that would be fun - it could only really be about the money (and perhaps some comraderie). So when its all ending, there is kind of a release...
- andreyf 18y ago
  So when its all ending, there is kind of a release... It's not just that, but also the unemployment compensation. I have some friends in the industry who can't wait to be laid off - even low-ranking positions get 3 months of severance pay from the company (+ more from the state if you don't find a job by then) amounts to a nice vacation if you're smart enough to not be worried about finding a new job.
  - gaius 18y ago
    According to friends of mine there, once its positions are unwound, the entity formerly known as Lehman's might not even have the money for this month's wages, let alone any redundancy payouts.
- jyothi 18y ago
  I bet. He is probably positive as someone finally moved his cheese and he has new things to look up to now.
- mseebach 18y ago
  Working in investment-banking is only about the money, in much the same way that IT is only about typing.

whacked_new 18y ago

What's the giveaway message from the khaki guy? He has one leg curved? He is on the side? What am I missing? Doesn't this assume there is no other guy dressed in the -- unobvious -- black pants taking a similar pose?

ars 18y ago
Hunched shoulders means worried, or otherwise in a down mood. (The hunch is a defensive position - minimize body area available for attack.) Crossed legs means relaxed and thus not worried. (Relaxed because crossed legs means not ready for immediate action.) Take a class in this, or ask a friend. Movies are great for this - have someone identify each body language as you come to it. Just learn it the same as you learn math - memorize each pose until you find the underlying pattern common to all.

fallentimes 18y ago

I think it means he's the smartest guy in the room.

jyothi 18y ago

Maybe the truly dangerous “LHC” isn’t the Large Hadron Collider, but the Lehman Holdings Collapse. good one!

gscott 18y ago

In Boston http://www.berkshireeagle.com/ci_10468916 http://www.berkshireeagle.com/ci_10468916 and New York http://money.cnn.com/2008/09/14/news/companies/lehman_workers.fortune/index.htm?cnn=yes http://money.cnn.com/2008/09/14/news/companies/lehman_worker...

gojomo 18y ago

But I want to know: did he wear khaki on Friday, too -- or is this him "cutting loose" for his last day?