Memos from the Chairman by Alan C. Greenberg

Author:Alan C. Greenberg
Language: eng
Format: epub
Publisher: Workman Publishing Company

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MEMO

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FROM THE DESK OF ALAN C. GREENBERG

Date March 23, 1990

To Senior Managing Directors, Managing Directors, Associate Directors

From Alan C. Greenberg

CC

Subject

Today’s newspaper devoted a lot of space to the fact that almost every Wall Street firm is drastically reducing its advertising budget. We are not reducing our budget one percentage point. In fact, our TV advertising may even increase from its present base, but in no case will it be lowered.

This action, by your Executive Committee, will not be a surprise to the associates who have been at Bear Stearns for several years. We have tried to be consistent in every action. Both Haimchinkel and Nookie think it is very important that the troops know what to expect. Being consistent may be dull, but it leads to a pleasant environment and to happy campers.

I enjoy working for a firm that is hiring—not firing—and in addition the firm is now committed to continuing its witty, elaborate and expensive ad campaign when other firms are retrenching. I hope you feel the same.

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