Get out your green eyeshade.
The IRS is hiring nearly 800 employees to poke around offshore accounts and small multinational companies at its new office on wealthy individuals.
The agency is also reassigning a number of its current auditors to pore through Swiss accounts. Uncle Sam is getting 4,450 such accounts from UBS and expects an additional 10,000 from former UBS clients who were offered a special reduced-penalty program if they come forward voluntarily.
The agency, however, had only 82 jobs listed on the Web yesterday afternoon.
Heat of the Moment in Asia
Finance firms have sparked a hot labor market in Asia. Among those hiring: Standard Chartered, HSBC
and Bank of New York Mellon
Moelis Hops the Pond
Moelis & Co. LLC
has hired another senior banker in Europe, Caroline Silver. The company says there's no reason why it shouldn't have as many people in Europe as it does in the States, which would mean dozens of jobs. (TheDeal
Alternative Companies, Alternative Jobs
With banks in a bind, alternative finance firms are finally hitting their stride. This includes asset-based lenders, which tie loans to equipment or inventory purchases, and cash-advance shops, which grant loans in exchange for a portion of future sales. (BusinessWeek
just wrangled six years of free rent at its new London HQ. Some 4,000 employees will move into the digs, which has plenty of room for expansion. (FT
Shot Over the Bow
Chairman Mary Schapiro sent a letter to brokerage CEOs, warning them off certain compensation structures, specifically recruiting bonuses and pay based on trading volume, rather than quality. (WSJ
Speaking of Pay . . .
Chief Robert Benmosche is backpedaling for slamming NY AG Andrew Cuomo's efforts to put the kibosh on bonuses. "The worst thing that will ever happen to him is when he and I meet in the room and I close the door," Benmosche said in an August meeting with employees. Seems like a great way to get off on the wrong foot with regulators. (Bloomberg
Jobless to Top 10%
EU unemployment hit 9.5%, a 10-year high. Meanwhile, the Congressional Budget Office says the U.S. rate, 9.4%, will peak at 10.4% before we are out of the woods. (Fortune
Play It Safe
Save the candygram and the resume-sandwichboard. Bold job-seeking gambits seldom pay off. (WSJ
How to Drive Away Talent?
Pay is just one thing that top-notch workers pay attention to. Managers who don't follow through and those who rely on data over judgment also send talent running. (Harvard Business Review
Whither Merrill and Bear?
What is company culture and where does it go when a firm is subsumed? Mostly, it heads out the door with employees, both fleeing and fired. (InvestmentNews
All Together Now
Want to hear about Uncle Sam's plans for regulation "harmony"? Tune in from 9 to 5 today and 9 to 12:30 tomorrow. Today's meeting will be broadcast on www.cftc.gov
, while Thursday's will be at www.sec.gov
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