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Wall Street (wall + street)
Selected AbstractsWhen Washington shut down Wall Street: the great financial crisis of 1914 and the origins of America's monetary supremacy , By William L. SilberECONOMIC HISTORY REVIEW, Issue 4 2008Hugh Rockoff No abstract is available for this article. [source] JUST SAY NO TO WALL STREET: PUTTING A STOP TO THE EARNINGS GAMEJOURNAL OF APPLIED CORPORATE FINANCE, Issue 4 2002Joseph Fuller CEOs are in a bind with Wall Street. Managers up and down the hierarchy work hard at putting together plans and budgets for the next year only to discover that the bottom line falls far short of Wall Street's expectations. CEOs and CFOs are therefore left in a difficult situation; they can stretch to try to meet Wall Street's projections or prepare to suffer the consequences if they fail. All too often, top managers react by suggesting or even mandating that middle- and lower-level managers redo their forecasts and budgets to get them in line with external expectations. In some cases, managers simply acquiesce to increasingly unrealistic analyst forecasts and adopt them as the basis for setting organizational goals and developing internal budgets. But either approach sets up the firm and its managers for failure if external expectations are impossible to meet. Using the recent experiences of Enron and Nortel, the authors illustrate the dangers of conforming to market pressures for unrealistic growth targets. They emphasize that an overvalued stock, by encouraging overpriced acquisitions and other value-destroying forms of overinvestment, can be as damaging to the long-run health of a company as an undervalued stock. Ending the "expectations game" requires that CEOs reclaim the initiative in setting expectations and forecasts so that stocks can trade at close to their intrinsic value. Managers must make their organizations more transparent to investors; they must promise only those results they have a legitimate prospect of delivering and be willing to inform the market when they believe their stock to be overvalued. [source] "The Highest Legal Ability in the Nation": Langdell on Wall Street, 1855,1870LAW & SOCIAL INQUIRY, Issue 1 2004Bruce A. Kimball First page of article [source] Disciplining Investment Bankers, Disciplining the Economy: Wall Street's Institutional Culture of Crisis and the Downsizing of "Corporate America"AMERICAN ANTHROPOLOGIST, Issue 2 2009Karen Ho ABSTRACT Countering the "mystique" of finance as abstract and disembedding, in this article I approach the financial market from the site of investment banking corporate culture to concretize large-scale processes and access its effects in the world. By investigating Wall Street investment banks' role in two pivotal socioeconomic phenomena,rampant downsizings throughout "corporate America" and the financial bubble and bust of 2001,I explore whether financial crises and corporate downsizing can be better understood via Wall Street's quotidian practices. I draw theoretical inspiration from the figure of the downsized investment banker, who embodies and connects Wall Street's rationales for downsizing as well as "the effects." Although shareholder value and externalized market justifications are Wall Street's models for understanding downsizing, I move beyond these dominant assumptions, demonstrating that bankers' own work experiences, market temporalities, and organizational culture serve as an incisive model to explain Wall Street's role in downsizing and financial crisis. [Keywords: Wall Street, corporate downsizing, financial markets, shareholder value, organizational culture] [source] Leveling the Playing Field: Negotiating Opportunities and Recognition in Gendered JobsNEGOTIATION AND CONFLICT MANAGEMENT RESEARCH, Issue 1 2009Louise Marie Roth Abstract In gendered jobs, how do women and men negotiate opportunities to perform and receive recognition for their accomplishments? Women face disadvantages negotiating the workplace, especially in male-dominated positions, while men receive advantages even in female-dominated jobs. This article uses research on gender inequality on Wall Street to illustrate how gender schemas sustain gender inequality in career opportunities, access to networks and mentors, and evaluations of performance. Women on Wall Street faced exclusionary networks and assumptions that men were more competent at finance. The article then focuses on strategies that some women on Wall Street have used to successfully negotiate career opportunities and recognition. These strategies include developing expertise, specializing in financial products, and seeking positions with objective performance criteria. [source] Playing the Stockmarket in Tana TorajaTHE AUSTRALIAN JOURNAL OF ANTHROPOLOGY, Issue 1 2000Robyn Thompson This paper describes the players and the play in a weekly stockmarket in Tana Toraja. South Sulawesi, where up to 600 buffalo bulls are bought and sold for exorbitant prices by any standards. These prices are partly determined by external, global economic forces. The buffaloes are all intended for sacrifice in elaborate funerals. Although contributed by individuals or families they are conceived as part of mana. the common wealth of tongkonan. the origin houses of the Toraja. Live bulls cannot be given away but are able to be lent in ceremonial exchanges at funerals. After sacrifice, their raw meat is distributed to participants in the funeral in a version of potlatch. Bulls mediate all exchange. apart from mundane commodity exchange, and are liquid assets. A mature black bull is an object of general equivalence able to be exchanged as payment for certain symbolic objects. In the past the production, distribution and circulation of buffaloes, both on the hoof and as meat, were controlled by the nobility. Buffaloes were said to be in finite supply. They derived from the Upperworld and accompanied the ancestors of the Toraja nobility to this world and were replenished through the ritual of the ways of the ancestors. Now the advent of the market has democratised buffaloes. There has been a dispersion of wealth and the power that the bulls embody. Any man,noble, commoner or former slave-who has sufficient cash is able to buy and sell buffaloes: to have a share in the stockmarket. The marketplace has become a new field of power play, one where innovative methods are being found for increasing the supply of buffaloes by importing hundreds of inferior quality buffaloes and by a program of artificial insemination which has been instigated by the local government. In the parlance of Wall Street this is a bull market. [source] Front and Back Covers, Volume 24, Number 6.ANTHROPOLOGY TODAY, Issue 6 2008December 200 Front cover caption, volume 24 issue 6 Front cover A television newscaster reports from a prayer meeting organized in support of Barack Obama on the eve of the US election in Kogelo, Western Kenya. Foreign and local journalists descended on this small village which is home to Mama Sarah, Obama's paternal step-grandmother. As this picture was taken, religious and cultural leaders, schoolchildren and local politicians were praying for the success of their ,son', although they were also careful to offer up prayers for John McCain. The newscaster stands in front of a painting by local artist Joachim Onyango Ndalo, famous for his colourful portrayals of historical events, African presidents and other world leaders. The painting shows Obama surrounded by political figures, including Colin Powell, Bill Clinton and the British queen. In January of this year Ndalo was forced to flee from his home in Western Kenya to Uganda during the violence that followed Kenya's contested elections between the Party of National Unity (PNU), led by President Kibaki, and the Orange Democratic Movement (ODM), the opposition party led by Raila Odinga. Although pro-Odinga, the artist was branded a traitor by some members of his community for accepting a commission to paint Stanley Livondo, a Kibaki supporter and opponent of Odinga for the Langata parliamentary seat. Ndalo's workshop and paintings were destroyed. He has since returned home and plans to send his painting to America as a gift to Obama for his inauguration. Back cover caption, volume 24 issue 6 FINANCIAL CRISIS: The financial crisis unfolding since September this year has wiped out savings and threatens livelihoods across the world. Future generations will have to pay for the nationalization of gigantic debts that we never thought we had. This crisis, the worst of its kind since the Great Depression, demands an overhaul of the world's financial system. What might anthropologists contribute, beyond our insight into the world's informal economies and peasant markets? In this issue, Keith Hart and Horacio Ortiz argue that the breakdown of the economists' intellectual hegemony demands a new approach to money more sensitive to its social dimensions and to redistributive justice. A fresh reading of Mauss and Polanyi would be one good place to start. Stephen Gudeman, in his diary of witnessing the financial markets in October, argues for the relevance of anthropological concepts such as ,spheres of exchange', a realm of people, relationships and materials that cuts across market processes and lies beyond the economic vision of Wall Street and Washington, but should be represented in policy-making. Anthropologists have produced many detailed examples of how communities make use of markets within economies. Now, as the world searches for a new system of governance, is the time for anthropologists to make their voices heard. Perhaps a President's Council of Anthropological Advisors might complement the existing Council of Economic Advisors. What better time for such a proposal than the election of a new US president with roots in Hawaii, Kansas, Indonesia and Kenya, whose mother was herself an anthropologist? [source] Is the Globalization Consensus Dead?ANTIPODE, Issue 2010Robert Wade Abstract:, The development economist Dani Rodrik recently declared that "the globalization consensus is dead". The claim has momentus implications, because this consensus has steered economic policy around the world for the past quarter century. It emanates from the heartland of neoclassical economics, and defines the central tasks of the Washington-based organizations which claim to speak for the world. This essay answers two main questions. First, is Rodrik's claim true, and by what measures of "consensus"? Second, to the extent that the consensus has substantially weakened, is the state returning to the heart of economic life, as Karl Polanyi might have predicted? The answers? First, the globalization consensus about desirable economic policy has weakened, though it is far from "dead". Second, the western state is returning to the heart of economic life in response to the current global economic crisis, but will retreat soon after national economies recover,because unless the crisis becomes a second Great Depression, the norms of more free markets and more global economic integration will be politically challenged only at the margins. New rules of finance may be introduced, but with enough loopholes that by 2015 Wall Street and the City will operate in much the same way as in the recent pre-crisis past. [source] Post-financial meltdown: What do the services industries need from us now?APPLIED STOCHASTIC MODELS IN BUSINESS AND INDUSTRY, Issue 5 2009Roger W. Hoerl Abstract In 2008 the global economy was rocked by a crisis that began on Wall Street, but quickly spread to Main Street U.S.A., and then to side streets around the world. Statisticians working in the service sector are not immune, with many concerned about losing their jobs. Given this dramatic course of events, how should statisticians respond? What, if anything, can we do to help our struggling organizations survive this recession, in order to prosper in the future? This expository article describes some approaches that we feel can help service industries deal with aftereffects of the financial meltdown. Based on an understanding of current needs of the service industries, we emphasize three approaches in particular: a greater emphasis on statistical engineering relative to statistical science, ,embedding' statistical methods and principles into key business processes, and the reinvigoration of Lean Six Sigma to drive immediate, tangible business results. Copyright © 2009 John Wiley & Sons, Ltd. [source] | |||||||||||||