81–90 of 211 posts
Earlier quoted context omitted.
I would prefer an HN 'rule' that denies the listing of any articles that originate from paywall sites.
So a rule that denies listing articles from publications that regularly produce interesting stuff? That's the definition of cutting off your nose to spite your face.
I highly recommend listening to a recent episode[1] of Planet Money. This was by no means an accident. As a short summary of one employee's plight: Ashley, working for them and making only $35k per year in San Francisco, was continually harassed to sign people up for accounts they didn't want. An old man comes in, pensioner, $200 in overdraft fees due to being duped into excess accounts. She dips into her own savings…
Earlier quoted context omitted.
How do you "give up" unvested stock?
Get fired or quit before it vests. (Conditional on your contract.) Edit: If you are a C-level executive, your contract may stipulate that you get unvested stock, even if you're fired. It's possible that John Strumpf chose not to exercise any such clause, but I strongly doubt it. The man is a psychopath.
It isn't clawed back in any meaningful way. When you or I leave a startup, we don't talk about our unvested options getting "clawed back".
I highly recommend listening to a recent episode[1] of Planet Money. This was by no means an accident. As a short summary of one employee's plight: Ashley, working for them and making only $35k per year in San Francisco, was continually harassed to sign people up for accounts they didn't want. An old man comes in, pensioner, $200 in overdraft fees due to being duped into excess accounts. She dips into her own savings…
>>ripping apart the lives of employees and customers You don't think that's a teency bit mellowdramatic? That description seems perfect for Bernie Madoff, Enron, et al.
If you listen to the podcast, they made employees stay in an active crime scene (bank robbery) where the thief defecated all over the floor to make phone calls to try to open new accounts.
Many employees (many with similar wages to Ashley) left due to health reasons caused due to the stress of the job. They were reduced to calling friends and relatives begging to create new accounts so they could meet quota. Ashley notes throwing up under her desk as fairly standard practice. If they didn't reach quota, they would be fired and blacklisted like Ashley was - though Ashley was fired for acting morally.
Customers may not be aware of the impact that such products had on their credit ratings. Given credit ratings are incredibly complex to "fix" and you may only become aware of them when trying to make a large next step in life (loan for a house) ...
And worst, the pensioner, who lived on minimal savings and who is not well equipped to sort out fraudulently opened accounts, was overdraft and unable to fix the situation himself. Who knows how many pensioners were sucked dry, what struggles they then faced on an empty bank account, unaware of what might even be the problem.
Until the headline reads "Wells Fargo CEO John Stumpf Goes To Jail", nothing changes.
I would be fine with "Wells Fargo CEO John Stumpf Ordered to Pay Back Fraudulent Fees to Wells Fargo Clients, Out of Own Pocket" (possibly down to some wealth limit, say, he can keep the $35K he apparently pays to his employees if his fortune is not enough to restore the damage). I am not a big believer in jail as punishment (as opposed to "place we keep people who are dangerous to others, for the good of society at…
This is why someone who runs a charity scam should be punished more than someone who simply mugs people.
I highly recommend listening to a recent episode[1] of Planet Money. This was by no means an accident. As a short summary of one employee's plight: Ashley, working for them and making only $35k per year in San Francisco, was continually harassed to sign people up for accounts they didn't want. An old man comes in, pensioner, $200 in overdraft fees due to being duped into excess accounts. She dips into her own savings…
Remember WF was one of the banks that failed the stress tests after the 2008 financial crisis. I've been trying to get away from WF for a while now, but no other bank can fill its shoes in terms of online services and ubiquity. Yet it has a culture of predatory capitalism where "your loss is our gain".
Why isn't anyone in jail again? We will choke a guy to death for selling cigarettes incorrectly, and can't put people stealing millions in jail.
I highly recommend listening to a recent episode[1] of Planet Money. This was by no means an accident. As a short summary of one employee's plight: Ashley, working for them and making only $35k per year in San Francisco, was continually harassed to sign people up for accounts they didn't want. An old man comes in, pensioner, $200 in overdraft fees due to being duped into excess accounts. She dips into her own savings…
Remember WF was one of the banks that failed the stress tests after the 2008 financial crisis. I've been trying to get away from WF for a while now, but no other bank can fill its shoes in terms of online services and ubiquity. Yet it has a culture of predatory capitalism where "your loss is our gain".
I highly recommend listening to a recent episode[1] of Planet Money. This was by no means an accident. As a short summary of one employee's plight: Ashley, working for them and making only $35k per year in San Francisco, was continually harassed to sign people up for accounts they didn't want. An old man comes in, pensioner, $200 in overdraft fees due to being duped into excess accounts. She dips into her own savings…
Remember WF was one of the banks that failed the stress tests after the 2008 financial crisis. I've been trying to get away from WF for a while now, but no other bank can fill its shoes in terms of online services and ubiquity. Yet it has a culture of predatory capitalism where "your loss is our gain".