Sometimes you have to come in at 3:30 a.m. for weeks at a time. Bill Gross, who people on Wall Street just love to death (he's a genius!), talked to the New York Times this weekend about the current financial crisis. You know, the recession, comparisons to the Great Depression, etc. (Side note: Maria Bartiromo had the head of the FDIC on her show this morning who was all like, "Big deal, everything's fine! You can trust banks!" Do not believe her! I am going to start storing my money under my mattress.)Anyhow! Gross runs Pimco, which is one of the world's largest specialty fixed-income managers (please don't ask me to explain that), and he was asked how he and his company are managing the current recession. Aside from somehow managing to set aside $50 billion in cash in the event that trading partners came calling, he also noted that staff schedules had changed:
And every day for the last three weeks he has convened meetings in a war room in Pimco’s headquarters in Newport Beach, Calif., “to make sure the ark doesn’t have any leaks,” Mr. Gross said. “We come in every day at 3:30 a.m. and leave at 6 p.m. I’m not used to setting my alarm for 2:45 a.m., but these are extraordinary times.”
Math + Insanely Early Alarm = Deal Breaker for This Girl.
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