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Thread: USA Today Newspaper article

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    Yekhefah
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    Default Re: USA Today Newspaper article

    Oh, for the love of arse.

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    Featured Member bikinigirl04's Avatar
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    Default Re: USA Today Newspaper article

    from that article:

    "It was a Fidelity Investments trader's 2003 bachelor party, paid for by brokerage firms including Jeffries & Co., that prompted NASD to consider tightening its rules. The party allegedly included dwarf-tossing and paid female escorts, according to news accounts and investigators."


    dwarf-tossing???

    Oh, I musta took a wrong turn at Albuquerque.


    howdy ho, junior rangers.

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    Banned Melonie's Avatar
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    Default Re: USA Today Newspaper article

    This isn't an entirely new development. For a while now, female employees of various big firms have been contending that it constitutes sex discrimination when male employees of the same firm are able to 'work' potential customers/contacts at strip clubs while the female employees cannot effectively operate in the same strip club environment. This has already resulted in several corporations issuing mandates about the use of strip clubs as a selling tool. Additionally, tighter corporate accounting governance has also led to questioning of the writing off of strip club 'entertainment expenses' as a legitimate business expense tax deduction ...

    This whole movement to 'outlaw' business entertainment in strip clubs could have a PROFOUND effect on clubs in upscale markets, because "Manack estimates that about 40 percent of strip-club spending in major markets such as New York, Atlanta, Las Vegas, Dallas and Houston is done for business [entertainment] ... (source Bloomberg)



    (snip)"• In the fall, Morgan Stanley fired three salesmen and a researcher who took clients to a strip club. The company instituted a no-strip-club policy in October 2002, two years before it paid $54 million to settle a sex discrimination lawsuit. The lawsuit was brought by the Equal Employment Opportunity Commission and a former institutional equities saleswoman who said she was excluded from client outings to strip clubs and other places.

    • Six female employees filed a sex discrimination class-action complaint in federal district court against German investment bank Dresdner Kleinwort Wasserstein in January. Jyoti Ruta, a director in the institutional equities division here, says she was excluded from a trip to a strip club and from other client events.

    • Last April, a jury found in Laura Zubulake's favor in a sex discrimination and retaliation lawsuit against UBS and awarded her $29 million. In October, the parties settled the lawsuit privately. Zubulake, a former director in international equities, alleged in the lawsuit that she was not considered for promotion, was removed from client responsibilities, was undermined professionally and was excluded from client outings. Trial testimony alleged she had been invited to a bottomless club by a manager. UBS says it has policies on business entertainment and "appropriate professional conduct."

    Several financial companies say the proposed rules are too burdensome. John Goodwin of Albuquerque-based Goodwin Browning & Luna Securities, complained to NASD that it is "legislating morality."

    But female plaintiffs and their lawyers say business entertaining can be as important as what goes on in the office. Attorney Piper Hoffman, who represented Morgan Stanley plaintiff Allison Schieffelin, says that on Wall Street, "Who you know can translate into how much business you bring into your company."

    In her lawsuit, Schieffelin says she learned two clients were invited by male colleagues to attend a weekend in Las Vegas approved by their manager. When she asked why she wasn't included, she was told it was "because the men would be uncomfortable participating in sexually oriented entertainment with a woman colleague present, especially one who knew their wives," according to the lawsuit.

    "It's not a question of morality," says attorney Wayne Outten, who also represented Schieffelin. "It's the disparity in opportunity for those who are excluded.""(snip)


    My first personal observation is that the huge sex discrimination settlements being granted to female employees of big firms over strip club 'business opportunity' inequalites is indeed leading to a resolution of those inequalities - by preventing both male and female employees of big firms alike from 'working' customers at strip clubs in the future (which could potentially reduce upscale "show club" / "show club" dancer earnings potential by some 40%).

    I would add as a personal observation that the statements made to USA Today by dancers stating $2500 per night / $200,000 per year earnings are actually likely to be the MOST damaging result of this article - because the IRS will undoubtedly take notice, and figure out that huge amounts of uncollected tax revenue are likely to be found at a very few different business locations (i.e. Scores and other 'corporate clubs' in cities known for the super-upscale 'show clubs' where business entertainment is taking place) !!!
    ~
    Last edited by Melonie; 03-25-2006 at 06:33 AM.

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