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M* Fund Times 7/11/2013

edited July 2013 in Fund Discussions
http://news.morningstar.com/articlenet/article.aspx?id=602427

* Vanguard Suffers Its First Firmwide Outflow Since 1994
* Fairholme Suing U.S. Government Over Fannie, Freddie Shares
* Munder Capital Management Up for Sale
* Former Columbia Manager Takes Lead at Vanguard Muni Funds
* Columbia Hires Former Putnam Value-Equity Manager
* Aberdeen PM, Relationship Manager Die in Cycling Accident in England

Comments

  • edited July 2013
    Truly sad about that last item. That's not happy news for anyone. In a different direction, I could not help giggling at that fellow's professional title: "senior relationship manager." How important do you have to be to have one of THOSE? Or, I guess I mean, how RICH do you have to be in order to afford one of those? No...THAT'S not it. I mean, how INEPT do you have to be to NEED one of those?

    Ah, the Politically Correct world we live in, where EVERYONE'S job has a fancy title. My wife works hard as a glorified janitor and housekeeper in a hospital, keeping things clean. But the dept. she works in is called, "Environmental Services." Makes you think THEY'RE the ones who make sure we have oxygen to breathe in the hospital. My brother works there, too. Along the same lines, what we all commonly refer to as the "Personnel Dept." is, at that hospital (oops---MEDICAL CENTER) officially known as the "Talent Acquisition Dept." Yes. I s*** you NOT.

    And (of course) the ones who work in that dept. are not even employees of the Med. Ctr. --- because the Med. Ctr. doesn't care to be saddled with the responsibility of finding its own new employees. (What was that? I'm sorry. Did I miss something? I don't follow your non-sequitur.) And no one even notices the disconnect in such a case, anymore. OK. All done.
  • Sorry, Max, but you should have stopped at paragraph one. People who keep the "environment" clean are critical to the morale of the patients and other hospital staff.

    I read of (presumably) human feces ignored for several days on one of the back stairwells of a midwestern teaching hospital in the 60's. Can't presume that the employees using those stairs viewed that as a mark of excellence. Don't know if they reported it and were ignored. I think things are better now, perhaps due to better wages or better staff, but "I'm in environmental services" sounds better than "I'm a janitor." (Reminds me tangentially of the comment that "A society that values philosophers above plumbers will find that neither its theories nor its pipes will hold water"- Google says I've shortened and sharpened [in my unhumble opinion] John Gardner's statement).

    The probable reason the "TAD" dept members are not hospital employees is to avoid paying them good benefits. My daughter is a dietician at a university hospital, and she is employed by a firm providing services to the hospital, not by the hospital. Her benefits are less than those provided by the hospital.
  • edited July 2013
    Should have stopped at para. one?... But I was just getting wound up! You've heard about "losing the forest for the trees." Maybe I lost you in the trees. Main thesis: All of this Politically Correct junk is..... junk. And nothing is logical anymore. You could apply this to any company, but I was pointing out: here you have a hospital (oops, it's now a fancier "Medical Center," which makes it sound SPECIAL!) which could neither exist nor function at all without employees. But we will farm-out the task of finding employees. We can't be bothered. The world is upside down. And we blithely continue on our merry way, as if things DID make sense... And you may very well be correct: the hospital holds just enough of a connection to the "TAD" to be able to say that it IS their own. But they don't have to worry about them, the way they would if they were true employees. I dunno if that hosp. is a for-profit one or not, but it boils down to: "We wanna make money, but not be responsible for what's necessary to do that. It's just nuts. And I must say, tainted. ...Oh, and I must add that Philosophy has become a silly word game. Classical Philosophy is still good and necessary, addressing real vital, human issues. Just don't ask the philosopher to do the plumber's job. ;)
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