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Nobody is going to buy this POS. The customers are already going elsewhere...trading is a commodity, research at PJC is bottom of the barrel. Healthcare Investment Banking - they will go somewhere they can get paid. Public shell...
You are right. This is nasty. I see no reason to think management can fix things. Listening to managements comments on the call makes me believe that they don't know what to do. Somethings gotta give.
Sorry guys... the sale process already failed. Nobody wants this group of unprofitable, social misfits. Morgan passed, Merrill passed, Goldman wouldn't even take the book. Apparently, a Harvard Law Degree cannot fix the backward, isolationist tendencies of some of their senior managers. SCUTTLE THE SHIP, MATTTEEEE!!!!