Daily Archives: July 16, 2013

Andrew Hill

I’m intrigued by the possibility that the civil trial of Fabrice Tourre, the former Goldman Sachs banker, may hinge on whether an email to his girlfriend was a love letter or an injudicious admission that he was misleading investors about the complex mortgage-related securities he was selling.

The lead attorney for the Securities and Exchange Commission said at the opening of the civil hearing on Monday that it was the latter. Mr Tourre’s lawyer asked the jury to put the language of the communication down to “youthful arrogance” and said it was “an old-fashioned love letter” to his girlfriend, who was a Goldman co-worker. Read more >>

It’s hard to hide from big data. After submitting its staff records for independent analysis, one retailer discovered it was paying more than 150 employees who had called in sick years earlier – and simply disappeared from the workplace. The human resources managers responsible were so terrified of the potential backlash if they revealed the figures to their chief executive, they decided to keep the job of handling absences in-house.