Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Support MFO
Donate through PayPal
TCW Claims It Fired Female Fund Manager For Compliance Violations
“Tirschwell last month sued for $30 million in damages, claiming that TCW fired her after she complained that her boss, Jess Ravich, sexually harassed her and “coerced” her into sex.”
Times have certainly changed. I remember when Ford’s Chairman, Henry Ford II, got busted for drunk driving in the 70s with a scantily clad young lady at his side - not his wife. (LosAngeles if memory serves). Walked away from that with barey a whimper. Couldn’t find much on the story. One brief reference here. http://wardsauto.com/blog/ford-dwi-arrests-show-times-have-changed
Ford? Suspect GM is eating their cake nowadays - but don’t follow this stuff. Mulally was a breath of fresh air and brought in a lot of innovative stuff. Not seeing that now. Or, maybe I’m missing something?
Looking at assets (or AUM) of financial institutions presents a distorted picture. Banks, investment companies, etc. control lots of assets, but those assets are owned by others. The value (market cap) of these companies is much smaller than their assets would suggest.
When thinking about settlements, revenue might be a better yardstick. It's hard to get firm numbers on TCW (privately held), e.g. Nippon Life just acquired 1/4 of TCW, but terms were not disclosed.
Comments
$30 mil is a lot of money. Might be one reason Ford decided to get out in front and axe their NA head of operations this week. https://www.roadandtrack.com/car-culture/a18602275/raj-nair-leaving-ford-inappropriate-behavior/
Times have certainly changed. I remember when Ford’s Chairman, Henry Ford II, got busted for drunk driving in the 70s with a scantily clad young lady at his side - not his wife. (LosAngeles if memory serves). Walked away from that with barey a whimper. Couldn’t find much on the story. One brief reference here. http://wardsauto.com/blog/ford-dwi-arrests-show-times-have-changed
Ford? Suspect GM is eating their cake nowadays - but don’t follow this stuff. Mulally was a breath of fresh air and brought in a lot of innovative stuff. Not seeing that now. Or, maybe I’m missing something?
True. However, @Ted puts Art Cashin’s wealth at a mere 10 mil. So I still contend 30 mil is a lot of money.
When thinking about settlements, revenue might be a better yardstick. It's hard to get firm numbers on TCW (privately held), e.g. Nippon Life just acquired 1/4 of TCW, but terms were not disclosed.
FWIW, Hoovers estimates TCW's annual revenue to be $278M. $30M would put a sizeable dent in that, let alone net profits.
http://www.hoovers.com/company-information/cs/revenue-financial.the_tcw_group_inc.7beb84b4a92f7670.html