The Devil's Casino by Ward Vicky

Author:Ward, Vicky [Ward, Vicky]
Language: eng
Format: epub
Tags: Non-Fiction, Business
ISBN: 9781118011492
Amazon: 111801149X
Barnesnoble: 111801149X
Goodreads: 7920120
Publisher: Wiley
Published: 2010-03-18T00:00:00+00:00

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Niki Gregory was as skillful a political operator as her husband—and just as ambitious. Some of the wives were a little intimidated by her, while others were just cautious.

One time in Sun Valley, both Brad and Karin Jack noticed that Niki Gregory was ignoring Martha McDade, the wife of Bart McDade, who was then running fixed income.

Martha was a civil engineer who had founded her own environmentally focused engineering company as well as a charity to help improve the lives of amputees. “She was a smart woman who was always herself, just a fabulous person,” said one wife. On that Sun Valley trip, Martha asked some of the other wives: “Why will Niki Gregory not look at or talk to me?” Jack immediately interpreted the snub as a sign that Bart McDade was likely to be demoted or fired.

In early summer 2005, not long after the incident, McDade was moved from the position of head of fixed income to replace Shafir as the head of equities. Some saw the move as a demotion, but McDade was so successful in his new job that it simply increased his power base within the firm. Now two huge divisions respected him.

After McDade’s demotion, the wives realized that their husbands’ fates at Lehman would first become evident within their own circle: that, in fact, the social dynamics of the firm would initially play out among themselves. “The women can’t hide their disdain for someone they know is on the way out. It ‘s like the herd leaving someone with a broken leg behind,” one says.

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