| Topic Name: |
Economic Downturn and Minorities |
| Message Name: |
Salomon! |
| Date Posted: |
11/11/2001 |
| In Reply To: |
I have noticed that in my Fortune 500 Company, they are using this economic downturn as an excuse to unload at least 20 African Americans and Latinos that once held significant positions.(There was only about 40 at this level). They never wanted us there, but with Gov't contracts and the like, they had to deal with us. Now that we've given our talent,and increased sales & relationships in the marketplace- now we can go. Now we are trouble makers and ineffective. In down times they want to look out for their own in the name of "good Business Decisions". I guess we could all join the Military and go fight for them...right? One America and all. |
| Message: |
Of the Morehouse/Hampton grads I know on the IB analyst level, maybe two made it to the associate program, and that was because they made the jump from 3rd year to associate last year during the dot-com phase. On top of that, during layoffs, quite a few blacks were terminated or shifted to different groups. Look in fort greene and bklyn heights...all of those black analysts are UNEMPLOYED! To be fair, SSB was a little bit more aggressive than other banks in hiring from M'house, et al, but there has been no loyalty from the top. I am not black, so please don't think that I am on an Al Sharpton trip dear message board readers, but it is pretty damn shameful. In a down market, and with terrorist fears, companies have carte blanche to pare their ranks as they see fit. Why can't a few enterprising black lawyers amass a class-action? It just takes a little digging, and maybe some coordination with Morehouse to see how much of the class is still employed.
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