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[quote=meletio] Hey permabear, buy some SDS it looks like the mkts rolling over again

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Way ahead of you!

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meletio:

Yo

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It’s amazing what passes for humor among thieves.

meletio, so you’re not a broker? huh? maybe i read something wrong, but if you’re not in this business, then what gives? if you are trolling for minor, you’re on the wrong site. i believe all of us are at least in our 20’s. i’m pretty sure there are ‘kid toucher’ forums you can jack off on. this is for stockbrokers, not chesters.

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Someone from Citi-  share what you heard on today’s conf. call if you would. I’ve heard some rumors that it was anything but compelling. True?  Anyone at Citi going to stay? If so, why?

They went over the new compensation plan but it is not yet published. New 35% grid for transactions doesn’t sound so bad.

35 percent for team comp, or if you stay individual as well?

There will be a big cut at Citi very soon…plan Bs in place? 

35% for transactions?  I thought C moved to fee-based business effective immediately?  Also, what about reps with LOS greater than 5 years who are subject to a 20% payout?  I believe that LOS penalty box was carried over from the bank-based Smith Barney comp plan.

Penalty box 20% is not going to matter much, cuts at the lowest tiers will take care of that- count on that. 

what are the details of the cuts?

Low end producers getting termed today 

hahaha...that sucks!  I wonder what the cutoff was..

There were a couple let go that I know of, and suspect that there are more to come.  I read somewhere that will be 75 cut across the nation which would look to be about the bottom quintile.

Regarding the call.  There are still many questions that have been left unanswered.  Management is acting schitzo.  On one hand improving the plan after feeling the pinch of a few top guys leaving (acting as if they care) but on the other hand still not ready to really take difficult questions in an open forum to address peoples concerns(showing they dont care).