Pump your brakes.  If they offer the reason, it is usually the reason.  AND, if they disclose it publicly, that means that it was a "don't do it again" offense that they needed to disclose.  I KNOW it was a shock to most of the GP's that are not in the inner circle.  As far as the standards going up, they would have gone up in 2008 had the world not melted.  Face it, EDJ needs to cut about 2,000 FA's, but they can't.  So, they need to raise the standards and let them bleed out.  Face it, if you are ALONE in an office, how hard to you really work if you are not the most motivated person in the world.  Hill is around because it was part of the settlement with the SEC.  

[quote=Grosspayout]

I think spam is onto something.

They fire Skrainka but Doug Hill gets to hang around? Doesn't make sense. Maybe, just maybe, we are starting to see the wheels beging to come off. First Weddle sells Jones-UK. Then he raises production minimums in a deep recession claiming that 'Ted would have done it sooner'. Then Skrainka gets fired for reasons that have zero ring of truth. All this points to is the vapid leadership at the top of the firm.

[/quote]

Actually, I think your 180 degrees off.  I think they are just getting started.  And I think you are over-analyzing things.  Maybe they are just doing a lot of things that were well over-due.  I am not a kool-aide drinker, but I definitely admire the work that Weddle has done.

Jones is fastidious about releasing folks. If they splash it on the homepage that Skrainka got canned for plagiarism, Skrainka got canned for plagiarism.

Grosspayout,

You made four points:

1) "They sold UK operation." It was costing them $5 mill per month. Doesn't it make sense to sell a unit for a $70 mill. cost that will be recouped in 12 mos? How much money would you be willing to invest for a 100% return in 12 mos? Seems pretty smart to me.

2) "They raise production minimums during a severe recession." Those FAs are losing them money. How many unprofitable reps. do you have working for you?

3) "Skrainka gets fired for reasons thatt have zero ring of truth." Yes, they publicly fire one of their top partners and state the reason, which you imply is a lie. Do you think there might be someone at the firm that would object to that and bring out the real truth or that there would be any liability for doing what you imply?

4) Then you call management vapid. If you can't get over your bitterness for your failure while at Jones, at least make cogent comments about them.

Funky, Jones didn't make a dime off the UK sale. Unless of course I missed something.

FA86,

Please re-read my post.  I said they sold it for s $70 mill COST (read expense or charge) which will be covered by what they are not losing each month by continuing operations there and incurring additional operating losses. If they paid the Brits $70 mill to take an operation off their hands that was costing them a $5 mill. per month loss and not have that ongoing loss, they will have recouped it in about a year. Would you pay $70 grand to get out from under an expense that was going to cost you $5 grand a month forever?  

Funky,

My mistake, I didn't read your post well enough. Anyway, I agree with you. Selling the bleeding operation was a fantastic idea.

[quote=Remo Gaggi]

Pump your brakes.  If they offer the reason, it is usually the reason.  [/quote]

Lets take a drive to realityville! 

How about this for a reason.  "we are increasing FA performance standards so that our clients will receive a higher level of service excellence".  Sorry, but my bullshlt meter is pegged out!

[quote=Remo Gaggi]

Pump your brakes.  If they offer the reason, it is usually the reason.  [/quote]

Lets take a drive to realityville! 

How about this for a reason.  "we are increasing FA performance standards so that our clients will receive a higher level of service excellence".  Sorry, but my bullshlt meter is pegged out!

This article on the affair in the St Louis Post Dispatch makes the intresting point that accusations of plagiarism are not uncommon in the field of investment research.

Spamfilter, you wrote,

" How about this for a reason.  "we are increasing FA performance standards so that our clients will receive a higher level of service excellence".  Sorry, but my bullshlt meter is pegged out!"

Would you want to be aclient of a broker whose business was so poor, and had so few clients that they were not able to run a profitable office?

Maybe AS was doin' some GP's old lady? Just askin'

Had to be a BIG problem!  Now FINRA must investigate the circumstances, procedures AND oversight of the entire department.......that should cause a few more heads to roll.

Wonder what Skrainka's U5 will read like.

HOWEVER as of a few minutes ago, the individual in question is STILL listed with FINRA as still being employed by said firm.

Seriously!  If they wrote that they were increasing standards for clients and "OH, yeah...in doing so, we can retain our better FA's who might be leaving in droves soon due to the fact their bonuses are shit because of these slackasses AND we might be able to plug some young, eager, go getter into their office who will actually work 40 hours a week and service his clients"...I don't imagine you would have any trouble with that, would you?

[quote=Remo Gaggi]

Seriously!  If they wrote that they were increasing standards for clients and "OH, yeah...in doing so, we can retain our better FA's who might be leaving in droves soon due to the fact their bonuses are shit because of these slackasses AND we might be able to plug some young, eager, go getter into their office who will actually work 40 hours a week and service his clients"...I don't imagine you would have any trouble with that, would you?

[/quote]

In stating such a fact I would at least know that they were being truthful!

I have been saying for years that  Alan Skrainka hasn't stated an original thought.  But, I had no idea his redundant blatherings were actually someone elses!

Spam...are you serious?  We work in an industry that, in case you missed it, leaves MUCH to be read between the lines.

[quote=Remo Gaggi]

Spam...are you serious?  We work in an industry that, in case you missed it, leaves MUCH to be read between the lines.

[/quote]

Agreed.  My issue is that this firm has too many people who think like this.

[quote=Remo Gaggi]

Pump your brakes.  If they offer the reason, it is usually the reason.   

[/quote]

A week has passed since this item hit the press...... how far back did the internal investigation go to when Alan was an intern????

Finra still has him registered @ ej and yes I know they have 30 days to submit the U5.  Whenever ej submits the U5 it should make for interesting reading.....and then later when Finra (and NYSE et al) publish THEIR findings that will be even more interesting.