I was recently interviewed by Ladders, a media publication covering workforce issues, regarding yet another case involving social media and employment.
The article discusses how a former employee of a global recruiting and staffing company was forced to remove thousands of her LinkedIn contacts because the company claimed the relationships didn’t belong to her, but the company. As the details of the employee’s employment contract or any confidentiality or non solicit agreement that may have been signed are unknown, one can only speculate whether she had the right to do so.… Read More
Confirming yet again that there is no right to privacy in the workplace, Kelsey Gee’s article “Why Bosses Are Tracking Employees” on page B5 in today’s The Wall Street Journal describes how companies are tracking employee interactions and office traffic, including communications via email and chat logs. While the intent is “to improve workplace interaction,” the practice adds a layer of increased employee surveillance that employees of companies using the technology may not be aware.… Read More
I was recently interviewed by Fundfire, a financial services industry on-line publication, regarding J.P. Morgan obtaining a temporary restraining order as it pursues an arbitration case against seven advisors who left to launch an independent shop with LPL Financial. This is yet another case involving the protections of the industry’s agreement called the Protocol for Broker Recruiting.
On October 27, seven private bank advisors left and registered with LPL, launching Gulf Point Advisors, which focuses on working with family offices.… Read More
The article,”Amazon Sues New Target Executive” caught my eye in today’s The Wall Street Journal. Amazon, the executive’s former employer, is concerned he will leak trade secrets to his new employer, Target. Watch my video blog below to learn more about the case and my thoughts on the matter. If you have any questions, please feel free to contact me at firstname.lastname@example.org.… Read More
With news of Morgan Stanley’s plans to make significant cuts in its debt and currencies ranks across all offices (Wall Street Journal, December 1, 2015, page C1), the importance of having your “employment disaster recovery bag” at the ready is highlighted. Included in that “bag” should be your offer letter; any confidentiality, non-solicit, non-compete, work for hire and/or garden leave agreement; employee handbook; and any document or plan relating to your equity, deferred compensation, bonus, pension, or any other aspect of your employment.… Read More
I was recently interviewed by Fundfire, a financial services industry on-line publication, regarding a Morgan Stanley financial advisor team that was sued by their former employer, J.P. Morgan, after they jumped ship to Morgan Stanley earlier this year. J.P. Morgan has alleged breach of contract, misappropriation of trade secrets and unfair competition among others.
Last year, J.P. Morgan became a signatory to the Protocol for Broker Recruiting, an industry agreement that typically supersedes the non compete and non solicit clauses contained in contracts advisors sign with firms, allowing them to retain basic client information and contact clients should they switch firms.… Read More
Newsworthy items in executive compensation arena include stories on Cheniere Energy and Barclays:
Cheniere Energy Inc. pays its CEO $142 million in 2013, apparently one of the largest pay packages in the U.S., despite lack of profit or attaining its exporting goals. Consider that Cheniere “has lost money every year since its founding in 1996.”
Barclays’ top U.S. executive departs due to “acrimony” over pay.
As today’s Wall Street Journal article, “Fund’s Employees Face Uncertainty” indicates: “No major financial firm has survived a criminal indictment.” With the criminal indictment of SAC Capital Advisors, many of its current employees are confronted with a difficult decision. The choices are limited – stay or go.… Read More