Wall Street watchdogs nailed Jefferies Group with nearly $10 million in fines, claiming that the brokerage firm let an executive use company cash to ply Fidelity Investments' traders with lavish gifts - including underwriting a booze-fueled bachelor party replete with strippers and dwarves - to win business.
As a former marketing guy, I have to admit to some curiosity about the financial considerations. I can see how the strippers could provide a solid return on investment, but I wonder how much extra business they got by adding the dwarves.
Thursday, December 07, 2006
PARTY'S OVER! JEFFERIES GROUP FINED $10M
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