Are you kidding? My cousin got lucky and started trading in the tech boom in '98. They had parties where they rented out the penthouses in swank hotels, passed around party favors if you know what I mean and ordered hookers by the half dozen. Now, visiting a strip club is grounds for dismissal? Are you friggin kidding me?
Okay taking devil's advocate, this is a brilliant move by Morgan Stanley. I am sure part of the sexual harassment settlement involved changing the sexist environment of wall street by explicitly stating that you CANNOT take clients to strip clubs because this alienates women employees. Why not cut 4 employees, who are not crucial to their business in favor of an "insurance policy?" At least now Morgan Stanley has a history of protecting women from sexual discrimination.. at least in writing. These 4 guys are just the guinea pigs.
I really don't understand the wrong doing.. Almost everyone who works in high finance has visited a stripclub with colleages, clients or whoever else.. It shouldn't reflect on their performance at work.. If anything the best guys I know are the ones who work hard and play hard.
Morgan Stanley got hit with a Law Suit, I think the collector (a female of course) got millions. That was before 1999 or so. Then our Tech Guy at our call center got canned for a little comment made to the wrong cute chick on the trading floor. GONE THE NEXT DAY!
without the tech guy though, the dumb blonde revenue producer wouldn't know how to get her paperclip in microsoft word to display! i guess taking clients out to Flashdancers in NYC with my VIP guest passes is out of the question
If attending strip clubs goes against the written conduct code of MWD so it was OK to fire these trolls. I hope brokers will show the same energy when punishing their employees when they provide misleading information to clients causing them an economic damage. This doble morality has become very common in our corporate world.