"Fidelity looks at whether fund unit’s culture is hostile to women" by Globe Staff October 22, 2017
After the recent firing of two senior male portfolio managers, Fidelity Investments has hired a consulting firm to investigate whether the culture of its stock-picking division is hostile to female employees, according to a person familiar with the matter.
Earlier this month, the Boston-based financial services giant forced out C. Robert Chow, 56, for making “sexually inappropriate comments,” according to the person, who asked not to be identified because Fidelity doesn’t comment on specific employees.
The Globe could not immediately find contact information for Chow. The Wall Street Journal, which earlier on Sunday reported his firing and Fidelity’s decision to examine the work environment of its equity division, said Chow’s lawyer declined to comment.
Fidelity in September pushed out tech fund manager Gavin Baker amid allegations of sexual harassment, the Globe reported earlier this month. A spokeswoman for the 41-year-old Baker said at the time that he left “amicably” because he planned to marry a woman who worked at Fidelity and Baker “believes his new fiancee and he should not work at the same firm.”
The knives are out.
Fidelity said on Sunday that the company does not tolerate sexual harassment.
“When allegations of these sorts are brought to our attention, we investigate them immediately and take prompt and appropriate action,” the company said in an e-mailed statement.
Fidelity CEO Abigail Johnson appears to be moving quickly in hopes of keeping the closely held company founded by her grandfather from being sucked into the furor over widespread and persistent sexual harassment throughout corporate America. Most recently, Hollywood mogul Harvey Weinstein was fired after numerous women came forward to accuse him of sexual harassment and rape. Weinstein has denied the allegations, but many associates have said his behavior was a poorly kept secret for decades.
The fund management industry remains dominated by men, but Fidelity, which oversees $2.3 trillion in assets and the retirement funds of millions of Americans, has women in many top positions. They include Kathy Murphy, president of its personal investing business; Nancy Prior, president of its fixed-income division; Judy Marlinski, president of its institutional asset management unit; and Melissa Reilly, chief investment officer.
Then they are faithful to females?
Or is it just another sales pitch?
Brian Hogan, president of Fidelity’s equity division, called a meeting last week to make clear that the company would not condone sexual harassment or any other inappropriate conduct, according to the person with knowledge of the situation.
In addition to the meeting, first reported by the Journal, Fidelity has brought in a consulting firm to “identify if there are any problems with the culture,” the person told the Globe. “It’s a male-dominated field. There is the potential for problems, but we don’t want it.”
The Journal said a 2015 report written by a group of female Fidelity employees was presented to senior staff in the firm’s stock-picking unit, citing four people who saw the report or attended a presentation of it. The report, also sent to Johnson, warned of a male-dominated culture at the equity unit and its detrimental effects on women in particular, the Journal said. A Fidelity spokesman said the company was not aware of the report.
In its statement, Fidelity said it has multiple ways for employees to raise concerns, including “the Chairman’s Line,” which it called a channel to anonymously report concerns of unethical or inappropriate activities.
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I wouldn't worry about it for much longer:
The Robots Are Coming for Wall Street
Unless robots can make passes, that is.
"Tech giants paying huge salaries for scarce AI talent" by Cade Metz New York Times October 23, 2017
SAN FRANCISCO — Silicon Valley’s startups have always had a recruiting advantage over the industry’s giants: Take a chance on us and we’ll give you an ownership stake that could make you rich if the company is successful.
Now the tech industry’s race to embrace artificial intelligence may render that advantage moot — at least for the few prospective employees who know a lot about AI.
Tech’s biggest companies are placing huge bets on artificial intelligence, banking on things ranging from face-scanning smartphones and conversational coffee-table gadgets to computerized health care and autonomous vehicles. As they chase this future, they are doling out salaries that are startling.
Typical AI specialists, including both PhDs fresh out of school and people with less education and just a few years of experience, can be paid from $300,000 to $500,000 a year or more in salary and company stock, according to nine people who work for major tech companies or have entertained job offers from them. All of them requested anonymity because they did not want to damage their professional prospects.
Well-known names in the AI field have received compensation in salary and shares in a company’s stock that total single- or double-digit millions over a four- or five-year period. And at some point they renew or negotiate a new contract.
At the top end are executives with experience managing AI projects. In a court filing this year, Google revealed that one of the leaders of its self-driving-car division, Anthony Levandowski, a longtime employee who started with Google in 2007, took home more than $120 million in incentives before joining Uber last year.
There are a few catalysts for the huge salaries. The auto industry is competing with Silicon Valley for the same experts who can help build self-driving cars. Giant tech companies like Facebook and Google also have plenty of money to throw around and problems that they think AI can help solve, like building digital assistants for smartphones and home gadgets and spotting offensive content.
Most of all, there is a shortage of talent. In the entire world, fewer than 10,000 people have the skills necessary to tackle serious artificial intelligence research, according to Element AI, an independent lab in Montreal.
So what will they do when AI can do their research better?
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You can envision a day when drones will deliver packages, watch crops, or inspect pipelines, and to ‘‘put it mildly, this is a huge, huge problem. It impacts investigations across the board — narcotics, human trafficking, counterterrorism, counterintelligence, gangs, organized crime, child exploitation.’’
The climb will be difficult but you will get there eventually:
"Elizabeth Warren describes sexual harassment in early teaching job" by Julia Jacobs Globe Correspondent October 22, 2017
WASHINGTON — Senator Elizabeth Warren has stepped forward to tell of her own experience with predatory behavior as a young law instructor, joining other prominent women who have recounted their stories of sexual harassment and abuse following allegations against movie mogul Harvey Weinstein.
Warren was one of four female senators, all Democrats, to divulge her personal experience Sunday morning on NBC’s “Meet the Press” as part of the #MeToo campaign.
Warren told about a senior faculty member at the school where she held her first teaching job, saying he had a history of commenting on her appearance and telling dirty jokes.
“It was like a bad cartoon,” she said. “He’s chasing me around the desk, trying to get his hands on me. And I kept saying, ‘You don’t want to do this. You don’t want to do this. I have little children at home. Please don’t do this.’ ”
Warren said she was ready to punch the man in the face if he caught her, but she escaped out the door.
“I went back to my office and I just sat and shook and thought, ‘What had I done to bring this on?’ ” the senator said. “I told my best friend about it. Never said a word to anyone else.’’
Warren’s Senate office did not immediately respond Sunday to a request for an interview or for more information about the attack.
The “Me Too” hashtag gained popularity after media investigations of Weinstein revealed allegations of sexual harassment from actresses such as Ashley Judd, as well as accusations of sexual assault.
The social media campaign is meant to demonstrate the prevalence of sexual assault and harassment.....
Someone also pushing an agenda.
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Maybe the problem is football (another contrived provocation?)
Meanwhile, out front:
"Senator Elizabeth Warren is warming up to the press. Until now, the high-powered lawmaker has bucked a tradition of open dialogue in Senate hallways, nearly always refusing to speak in extemporary interviews. She surrounds herself with aides, or talks on her cellphone, and barrels past the waiting gaggles. These days, it’s rare for a reporter to even try a question as she speed-walks on by. Even when Warren does grant interviews, she can sometimes seem unnatural, sticking relentlessly to prepared talking points. The effect is oddly stiff for a populist leader whose powerful speaking style and aura of authenticity are some of her biggest selling points. Now political observers and reporters alike have noticed a thaw — of sorts....."
Related:
"Malta’s government on Saturday offered reward of $1.18 million and full protection for anyone with information on who killed an investigative reporter with a car bomb. The bombing on Oct. 16 killed Daphne Caruana Galizia, 53, whose reporting on corruption targeted the prime minister and other top figures on the southern Mediterranean island. The government called it a ‘‘case of extraordinary importance.’’
That answers the question I had, and this photo was the closest they got on Monday to the Maltese blogger as the coverage of that cools down.
"A Northampton district court judge who was reassigned to administrative duties in August without explanation has been accused of sexual harassment by a social worker who had been assigned to the Pittsfield courtroom where he held weekly drug court sessions, the Berkshire Eagle reported on Saturday. District Court Judge Thomas H. Estes was moved to administrative duties in Holyoke after the Massachusetts Commission Against Discrimination began investigating a complaint filed July 24 by the social worker, according to the Eagle. The social worker told the commission that she had moved to end a relationship with Estes this spring, and when she did, she was removed from her position by her employer, the Behavioral Health Network, the Eagle reported. The newspaper said that a public information officer for the Executive Office of the Trial Court declined to say if the judge’s reassignment was related to the complaint."
Also see:
Fox News host Bill O’Reilly agreed to extraordinarily large settlement in harassment case
They renewed the scum's contract anyway.
And "today’s chapter in this ghastly saga? The rage that killed the coffee shop."
Reports detail sexual misconduct allegations against film, restaurant executives
Todd English reportedly accused of sexually harassing waitress"
Time for some exorcise:
"A lesson hard for Boston to buy: We’re good" by Shirley Leung Globe Columnist October 21, 2017
It almost doesn’t matter if Amazon picks Boston for its next headquarters. We’ve already won.
Here’s how: In its eight-page request for proposals, the Seattle-based tech giant painted a portrait of where it wanted to be — a place with an educated workforce, a strong university culture, good public schools, an international airport, mass transit, and a high quality of life.
CEO Jeff Bezos might as well have said “somewhere like Boston.” The city’s 218-page proposal, submitted to Amazon by last Thursday’s deadline, made our strengths abundantly clear.
This is not just the business columnist in me being boosterish. Pore over the analyses by pundits and experts alike, and Boston was on nearly everyone’s short list of where Amazon might go. A Globe colleague tallied the results: Boston showed up on 12 out of 16 such lists. Only Atlanta appeared more often, with 14 mentions.
This is an important moment for our city and our region, and it’s been a long time in the making. Amazon’s open casting call for sites may have finally exorcised one of Greater Boston’s demons.....
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(FLIP)
"The mall lost its Sears recently, too, and JC Penney is long gone. The loss of the anchor stores spurred a cascade of smaller store closings. It’s a scene repeating itself in dying suburban malls around the country, a sweeping economic disruption known as the Amazon effect....."
I'm done. I surrender the rest to you.
