Norris McLaughlin & Marcus, P.A.

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Transitions in Employment

Mar 23, 2016

New Target Executive Sued By Amazon

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… Read More

Dec 01, 2015

An “Employment Disaster Recovery Bag” Is A Must!

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

Jul 13, 2015

IN THE NEWS: J.P Morgan Sues Former Advisor Team

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

May 13, 2014

Mega-Merger Collapses: Be Careful What You Wish For

The Omnicom-Publicis deal blew up due to an apparent “culture clash” and an inability to work out the details towards integration.  According to the Wall Street Journal (May 12, 2014, page B4), since “Omnicom pays better than [Publicis]” there was disappointment among Publicis staffers as many anticipated increased compensation coming their way.

While that may be the case, integration of two behemoths can often lead to reductions in force, making the disappointment over pay rates the least of concerns.… Read More

May 01, 2014

IN THE NEWS: Cheniere Energy and Barclays Executive Compensation Issues

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. 
Read More

Aug 29, 2013

As Summer Winds Down, Ease Off Your Electronics

As the official days of summer wind down and Labor Day weekend approaches, many other transitions will be under way. We are anticipating the reopening of schools, resumption of college and graduate classes, more traffic and new traffic patterns, and businesses focusing on the approaching fourth quarter.

Next week, we must re-adjust the pace of our lives back to the pre-summer norm.… Read More

Aug 14, 2013

Is the Anti-Management Business Model Sustainable?

Could a baseball team function without a manager?  Could an orchestra play without the conductor?

I thought of these scenarios after reading a recent article, “Managers? Who Needs Those?: At Some Tech Firms, Disdain for Hierarchy Collides With Need for Oversight,” that appeared in the Wall Street Journal.  The article covers startup tech firms that have an apparent “disdain for management” and view managers as “archaic, or worse, dead weight.”

Watch out Harvard Business School — a new paradigm is here!… Read More

Jul 26, 2013

Stay or Go: Options Are Limited When Your Firm Has Been Indicted

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


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