Dec. 23 (Bloomberg) -- Morgan Stanley appointed 212 new managing directors, the most to achieve the companyâs highest rank for executives since 2007. Morgan Stanley, which has gained 84 percent in New York trading this year, listed the appointments today in a Business Wire statement. Last year, New York-based Morgan Stanley named 133 new managing directors, the smallest class since 2002 as the company dealt with the worst financial crisis since the Great Depression and transformed itself into a bank holding company. It added 241 managing directors in 2007. Morgan Stanley is expected to report an annual loss of 49 cents per share in 2009, according to the average estimate of nine analysts surveyed by Bloomberg. Goldman Sachs Group Inc. named 272 managing directors last month, also the most in two years. http://www.bloomberg.com/apps/news?pid=20601087&sid=ah1YUras01fc&pos=3 Ay, ay, ay...so many people "managing" business...actually anybody working over there ?
1) The telephone area code of Manhattan is 212. 2) There may be a lot of "job title inflation" going on at companies that can't payout cash as a bonus.