Book Description
Taking its name from the infamous basement party room of a major brokerage branch near New York City, Tales from the Boom-Boom Room combines three spellbinding stories -- extreme, widespread sexual harassment and sex discrimination; legal maneuvering by Wall Street firms to deter or quietly settle sensational complaints; and multimillion-dollar class action lawsuits begun by a handful of female whistle-blowers against the two biggest brokerages in the nation.
The author, whose disclosures in the press became a rallying cry against sexual hazing at branch offices across America, takes the reader directly into a red-hot tangle of shocking allegations -- unprintable here -- and strenuous, across-the-board denials by firms and men accused. This drama's repercussions continue today, as new accusations are brought and longstanding complaints move toward the first-ever public hearings that the Boom-Boom Room case brought about.
Customer Reviews:
A Black Eye for Wall Street.......2004-11-10
I found it difficult to put this book down, and I would have given it 5 stars if the ending wasn't so weak. The end left me hanging and was a little confusing with all of the names and trials.
That said, I heard of some of the cast of characters in this book. I even worked for the same firm as one of them, and he was an arrogant guy who thinks his you know what doesn't stink.
Some of the stories in here were bizzare and almost all were well documented. Men and women should read this book to learn about Wall Street's dirty little secret. However, I am not convinced that this is a problem unique to Wall Street. I am positive that discrimination is in all industries, and it is not limited to sexual harrassment.
Packed With Knowledge!.......2004-06-16
Susan Antilla presents a powerful and startling indictment of the sexist behavior of stock brokers working for Wall Street and its offshoots, specifically Smith Barney's Shearson/American Express office in Garden City, Long Island. Women struggled to be hired, and then found that the men in charge of their careers practiced all sorts of sexual harassment and intimidation, from jokes to displays of sexual prowess, physical contact and threats of rape. As she describes, the bosses sought to bar women or trap them in low positions. While painting the broader picture, Antilla focuses on whistle blower, Pam Martens, who revealed the situation when she sued for damages. This skillfully written book reads like a fascinating novel, so graphic and dramatic that it is more like a screenplay than a report. We believe it will draw intense interest from everyone affected by this issue: female executives who face glass ceilings and harassment, male executives who must determine their own philosophies toward their female colleagues and human resource professionals who are charged with watching out for them both.
Kind of Relieving but sad.......2004-01-17
I read this book as I'm very familiar with the Brokerage Industry. I must say, while some of this is appalling, and people should never be treated poorly, it's relieving to know that there is a place where men are (were) still men. Men call each other disparaging remarks, call each other names, basically joke around and take it one step further. Unfortunately, women always want in, and it ends up ruining it for everyone. Any fun or solace we had is gone. It's a shame too, because those same women could have fun too and be "One of the guys" though fear of their lawsuits has now caused even the last bastion of men to fall. Why couldn't you just stick with Dr. Phil and leave us alone. Where can we hide from women and still be ourselves? Is there no place to go?? Even better, why can't those women just join us, rather than fight us! It would seem the last place men can work and have fun, and at the same time have women having fun with them is the Man Show, or the Howard Stern show. I'm sorry that sounds so sad, but it's our truth. Time's have changed, and while our son's will never know it, it's our own fault for caving to their whims, little by little by little. It's a women's world!
Very accurate.......2003-11-09
I was a successful broker for many years in one of Smith Barney's largest offices in the nation, and I can personally attest that the events depicted in this book, while shocking, are not exaggerations.
I would have appreciated if Antilla had consulted with some Constitutional law experts. She should have noted that the U.S. Supreme Court upheld mandatory arbitration shortly after Judge Motley upheld it in this particular lawsuit.
Antilla captures the culture of Shearson Lehman Bros. and Smith Barney with uncanny accuracy. Any investor -- male or female -- should read this book to understand some of the ways that the Wall Street good old boys network circles the wagons to protect their own.
A Case with a Twist.......2003-03-17
I'm a principal at an investment-banking firm although not a stockbroker so reading this book was a good exercise in reviewing the risks at our firm. The coverage in this book is exceptional. As discussed, investment-banking firms are ripe with potential for sexual discrimination. Partly because so many areas work on trading floors which breed a fraternity type atmosphere, partly because stock brokers tend to be fraternity/salesmen type guys, and partly because this environment has assistants, many who are women, working in close contact with these who sometimes consider themselves "masters of the universe." Confidence/cockiness is never in short supply at an investment banking firm's trading floor.
The first part of the book lays out the environment where sexual discrimination was prevalent. It's so clearly offensive that it's amazing there wasn't a larger settlement in this case. But this is where the book greatly details the unique twist in the case. The protagonist goes through two lawyers and watches as her lawyer and the opposing lawyer seem to become more in agreement than her and her lawyer. Eventually she's dropped from the settlement even though her name still appears on the class action suit. So while I thought I was a reading a sexual discrimination, the book turned into attorney/client relationships and attorney greed in class action cases.
Do I think the attorneys became more concerned about their large fee than their client? Yes. Do I think the original client could be difficult to deal with? Yes. But the outcome is tragic and no one got what he or she deserved. Justice was not monetarily served for the defendants in my opinion. I strongly recommend this book if you have interest in investment banking, law or women's issues.
Book Description
Drawing comparisons from Turkey and Britain, countries which are at the margins of the European continent, Banking and Gender argues that most of the gendered inequalities in employment are socially constructed. Exploring the historical and social development of sex segregation and equality initiatives in both countries, it challenges biologically deterministic assumptions on "professions fit for women or men" which are still prevalent in employment practices in both countries. Banking and Gender is the first in-depth cross-cultural and empirical study of employment in the financial service and represents a genuinely innovative contribution to the theory and understanding of these fields.
Average customer rating:
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Discrimination in Financial Services
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ASIN: 0792398858 |
Book Description
Equal treatment in access to credit has long been a fundamental social goal in the United States. However, despite the passage of several laws in the U.S. prohibiting discrimination in the provision of financial services on the basis of race, gender, and marital status, among other factors, questions concerning the existence of racial discrimination in such areas as home mortgage loans and small business credit continue, and confound public policy makers. This book is composed of nine articles and a panel discussion, originally published as a special issue of the Journal of Financial Services Research. These contributions explore the complex issue of discrimination in financial services.
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Financial Exclusion (Palgrave Macmillan Studies in Banking and Financial Institutions)
Carbo Santiago ,
Edward P.M. Gardener , and
Philip Molyneux
Manufacturer: Palgrave Macmillan
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ASIN: 1403990514
Release Date: 2005-08-11 |
Book Description
This text is concerned with the increasingly important and problematic area of financial exclusion, broadly defined as the inability and/or reluctance of particular societal groups to access mainstream financial services. There is growing evidence that deregulation in developed financial sectors improves financial inclusion for some societal groups, but may at the same time exacerbate it for others. In developing countries access to financial services is typically limited and therefore providing wider access to such services can aid financial and economic development.
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Court cases.(On the Record): An article from: Westchester County Business Journal
Manufacturer: Westfair Communications, Inc.
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ASIN: B000ALU63K
Release Date: 2005-07-25 |
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This digital document is an article from Westchester County Business Journal, published by Westfair Communications, Inc. on June 13, 2005. The length of the article is 974 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Court cases.(On the Record)
Publication:
Westchester County Business Journal (Magazine/Journal)
Date: June 13, 2005
Publisher: Westfair Communications, Inc.
Volume: 44
Issue: 24
Page: 27(2)
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Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on November 10, 1997. The length of the article is 514 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: Rep Diana DeGette has sponsored an amendment to House of Representatives financial services reform legislation that would prohibit discrimination against victims of domestic violence by insurers. American Insurance Assn VP David Pratt said that insurers will not oppose the amendment, which mirrors many changes that have already been enacted by states. The amendment would be enforced by federal banking agencies, and would urge states that have not yet banned this form of discrimination to do so.
Citation Details
Title: Domestic violence language worked into financial services reform bill. (amendment would prohibit discrimination against victims of domestic violence)
Author: Steven Brostoff
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: November 10, 1997
Publisher: The National Underwriter Company
Volume: v101
Issue: n45
Page: p4(1)
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on August 9, 1993. The length of the article is 1018 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: The House Banking Committee and House Energy and Commerce Committee will resume debate over separate subcommittee anti-redlining legislation when Congress reconvenes in Sep 1993. Although both anti-discrimination in insurance proposals contain many identical provisions, Banking Committee Chmn Henry B. Gonzalez and Energy Committee Chmn John D. Dingell have disagreed on which committee should have jurisdiction over the insurance industry. Insurance industry associations oppose both bills because of disclosure and federal regulatory provisions.
Citation Details
Title: House debates rival redlining bills. (anti-discrimination legislation)
Author: Mary Jane Fisher
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: August 9, 1993
Publisher: The National Underwriter Company
Issue: n32
Page: p3(2)
Distributed by Thomson Gale
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- A Must Have For Wall Street Buffs
|
The Unseen Wall Street of 1969-1975: And Its Significance for Today
Alec Benn
Manufacturer: Quorum Paperback
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ASIN: 1567205933 |
Book Description
From long, firsthand experience as president of his own financial advertising agency, Alec Benn offers a unique, inside look at America's investment community, at a time of changes so profound that their impact and implications are still with us. Based not on public relations handouts (although he himself has written them) but on frank, revealing talks with people who actually participated in the events of those tumultuous seven years, on official oral histories (hitherto concealed), and on his own keen observations, Benn shows how those events and changes really occurred. He reveals that the New York Stock Exchange (NYSE) was in far greater peril of collapse in 1970 than anyone, except a few insiders, has ever known. He exposes how many of the most significant changes ever to affect investors really came about. And he provides new insights into the people who caused, influenced, or sometimes opposed the reforms we now take for granted, as well as into the impact of historical figures such as Richard Nixon and Ross Perot. Informative, entertaining, and impeccably researched and documented, Benn's book gives us new information to help evaluate the investment world of today, and to appreciate how dangerous it was at another time, a time that some say appears uncomfortably familiar. Among the many topics Benn examines in depth is the creation of the Securities Investors Protection Corporation, the agency that insures against loss of the cash and securities left by investors in their brokers' hands. He shows how stock brokers' commissions came to be competitive and low, instead of fixed and high (a special benefit for today's day traders), and how members of the New York Stock Exchange became able to sell shares in their firms to the general public, opening a bountiful source of permanent capital. He goes on to cover the creation of the Central Certificate System, which led to a dramatic increase in trading volume later, and how the NYSE was reorganized, benefiting not only members but investors as well. Benn also explores how NYSE member firms became authorized to sell annuities and other insurance products, in itself a billion-dollar business. Finally, in an especially telling chapter, he discusses how and why discrimination on Wall Street based on class, religion, race, and gender declined (and by inference, why in some places it still lingers.)
Customer Reviews:
A Must Have For Wall Street Buffs.......2002-12-03
Terrific explanation of a time many have forgotten, when Wall Street nearly collapsed not from scandal but from hubris, incompetence, and just plain sloppiness. Remember when the markets were closed on Wednesdays so firms could process their paperwork? How about Ross Perots adventure to conquer the street? Me neither. Unless you lived it, you'll never get closer to knowing how many times the whole ballgame nearly came undone.
Book Description
Robert Hargrove, leading authority on collaboration, offers a new leadership practice that unleashes the human spirit into action and creates limitless new possibilities. Hargrove shows how creative collaboration is much more effective in reaching desired goals than confrontation and mere cooperation (teamwork). HargroveOs powerful, concise, step-by-step process for creative collaboration maximizes the talent and diversity within the group, making it possible to attain creative breakthrough solutions not attainable on an individual basis.
Customer Reviews:
very useful and interesting to read.......2007-04-18
I have found especially helpful the "7 building blocks", and "Tools" sections that have provided in a detailed format a framework and ideas to work with. The only negative part about this book is that the author overuses the example of Israel-Palestinian security talks. Examples from various disciplines and areas would improve and shape authors ideas much better by providing different perspectives.
Insightful!.......2001-05-25
Robert Hargrove presents a well-organized look at the world of creative collaboration. He argues that collaboration is the new paradigm in a world of change and complexity, as well as an effective management strategy. Hargrove provides a hands-on guide to becoming more collaborative and to organizing effective collaborative groups. In this lively, engaging book, Hargrove shows his familiarity with the latest management expertise. He draws on quotes and ideas from such authors as Margaret Wheatley, Peter Senge and Tom Peters. We [...] recommend this book to executives and managers who wish to facilitate collaborations.
One of the best business books of the decade! Tom Peters.......1998-12-18
I read Robert Hargrove's book on Masterful Coaching which focused on the individual, and prayed he would write one on collaboration. Not your cookie cutter approach to business books . .
Great stories about how creative collaboration can lead to radical innovation in any business, political breakthroughs in the Middle East, transforming your local school system.
Our elected representatives in Washington could learn alot from the simple, powerful how to principles and techniques offered here!
Fantastic book!.......1998-12-04
I was really inspired by this book and would highly recommend it to anyone who has dreams of creating something with others who may see the world differently. Hargrove paints a picture of what collaboration is that is very distinct and that is brought to life with some facinating examples--what he calls interludes. I especially liked the one on the Mid East Peace Accord and found it relevant to what is happening there now. Hargrove's guidelines for building a collaboration and for having collaborative conversations have been a lifesaver in the project that I am working on. They make a lot of sense and have been easy to apply. I can see why so many of the teams that I have worked on were not as successful as I would have liked. Thank you for a wonderful book that is fun to read and loaded with useful tools!
The book promises more than it delivers.......1998-10-13
Robert Hargrove, Mastering the Art of Creative Collaboration, McGraw-Hill, 1998.
This book promises more than it delivers. Hargrove presents collaboration as some sort of breakthrough process when it is nothing more than a diverse group of motivated and creative people coming together to do something great. Sounds like teamwork to me but Hargrove dismisses that argument by telling us that "while all collaborations involve teamwork, not all teams are collaborative." "Most teams," he says, "are focused on routine work and doing the same thing better," while "...successful collaborative groups are made up of strange brews, of nascent combinations of people. Most teams, even multidisciplinary teams, tend to be fairly homogeneous."
The last time I looked "homogeneous" is not a word anyone would use to define a multidisciplinary team. And most teams, especially multidisciplinary teams, are not focused on "routine work." They are designing a new telecommunications systems, researching the next cure for cancer, developing an enhanced systems architecture, designing the layout for the factory of the future and understanding the planet of Mars---the very example cited by Hargrove. Hargrove dismisses teamwork but then goes on to present numerous examples of successful teams which he now calls collaborations.
Hargrove borrowed John Nasbit's research methodology of drawing a conclusion and then lining up a series of quotes from newspaper and magazine articles that report wonderful examples of successful teamwork (pardon me, I mean collaboration). In addition, there is not one quote or example that shows a failed attempt at collaboration. All of us learn from mistakes.
Let's assume you don't care about these points, you just want to know how to make teamwork or collaboration or whatever it's called, work in your organization. If you're looking for some great new insights, you won't find them here. But you will find two different lists that both seem to be saying the same old things with a few new age phrases. Hargrove's "recipe for creative collaboration"(pp. 33-38) includes such things as make a declaration of impossibility (which is nothing more than a broad goal), bring extraordinary combinations of people together, build a shared understood goal, do a "what's so" (just a factual analysis of the desired and current state) and identify what missing.
Then, later on, Hargrove presents "The Seven Building Blocks of Collaboration (p. 92). Once again, he talks about bringing together the right people, developing a shared goal, clarifying roles, lots of communication and lots of enthusiasm. This is good stuff, but we heard it all before in the literature of teamwork. And then there is the chapter on collaboration tools which is nothing more than warmed over tips from your favorite books on facilitation, meetings, management, conflict resolution and group dynamics.
A key ingredient that is missing from this formulation is the failure to address the issue of the environment for collaboration. Successful collaboration is more the result of a supportive culture, a flexible structure and encouraging systems and less about good facilitation skills and plenty of whiteboards. Most team failure comes from lack of support from the leadership of the organization, cultural norms that nurture competitive or selfish behavior and systems that do not reward team players.
Having dismissed teamwork allowed Hargrove to skip over a body of work that would have helped him understand these issues more completely. For example, Warren Bennis' Organizing Genius: The Secrets of Creative Collaboration, presents six case studies of "Great Groups," Lipnack and Stamps' books, The TeamNet Factor, The Age of the Network and, most recently, Virtual Teams, all address collaboration across traditional boundaries, Designing Team-Based Organizations by Susan Mohrman, Susan Cohen and Allan Mohrman shows that it takes fundamental changes in the design and practices of organizations and my book, Cross-Functional Teams: Working With Allies, Enemies and Other Strangers, outlines specific strategies for developing and implementing successful "multidisciplinary" teams. This book was a selection of a book club of senior organizational development professionals who meet regularly to discuss new books. The group had high hopes for the book, but we were generally disappointed.
Books:
- Taxes for Dummies 2001 Edition
- The Automatic Millionaire Workbook: A Personalized Plan to Live and Finish Rich. . . Automatically
- The Career Adventure: Your Guide to Personal Assessment, Career Exploration, and Decision Making (4th Edition)
- The Couple's Guide to Love & Money (New Harbinger Self-Help Workbook)
- The Crisp Approach to Money Management Using Excel (Crisp Computer)
- The End of Marketing as We Know It
- The Entrepreneur's Guide to Finance & Business: Wealth Creation Techniques for Growing a Business
- Understanding Corporate Annual Reports
- Vault.com Guide to Finance Interviews, 3rd Edition
- Vault Guide to the Top Financial Services Employers, 2007 Edition (Vault Guide to the Top Financial Services Employers)
Books Index
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Women of the Street: Making It on Wall Street—The World's Toughest Business
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Liar's Poker: Rising Through the Wreckage on Wall Street
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Goldman Sachs : The Culture of Success
