German bank rents out every room in famous 5 star hotel in the middle of Berlin for 3 days - to disc - Polidicks

[img]http://i.imgur.com/4NIIp.jpg[/img] [quote]Troubled Deutsche Bank has rented out the whole of one of Germany’s poshest hotels – for its top managers to spend three days taking about cutting costs and saving money, a magazine reported at the weekend. Suites at Berlin’s Adlon Hotel can cost up to €15,000 a night, while the cheapest room will set penny-pinchers back €320 a night – and Deutsche Bank has rented out the entire building, Der Spiegel said, in a report to be published on Monday. Its top managers will be housed there from Monday through to Wednesday for the major pow-wow on how to save money. Just a few weeks ago Deutsche Bank chiefs Anshu Jain and Jürgen Fitschen talked about bringing a new culture to the bank in which the much criticized excesses of the past would become history. The two announced that the bank would seek to cut costs by €4.5 billion by 2015, which is to be accomplished in part by sacking of 2,000 employees by the end of this year. At the same time, Deutsche Bank tops a list of 28 financial institutions that would provoke a worldwide shock that is impossible to calculate, should any of them collapse. The “too-big-to-fail” list is established by the Financial Stability Board, an international forum made up of national banks and other institutions.[/quote] [url=http://www.thelocal.de/national/20121104-45963.html]SOURCE[/url]

I.. Can't even begin to fathom this..

I don't understand how people that smart could be that stupid.

Rich greedy fucks.

That's... That's fucking, goddamn 291,840 for the regular rooms alone, if you average the suites to be around 6 thousand total, you're looking at a price tag of 1.4 million. So if you sum it all up they're spending over 1.6 million at least for this entire shindig. This is excluding luxuries, including the multitude of in house resturaunts. [editline]4th November 2012[/editline] I don't get it.

I'm honestly completely speechless right now. How... why... what?

Something is telling me that meeting won't be as productive as they'd think.

When you talk billions, millions seems like nothing.

Also something they don't mention in the OP; the hotel was actually Hitler's official residence in Berlin before he was made chancellor. Damn, that auto merge.

This is what's wrong with the world.

das time to throw a big party

[QUOTE=hiimpaul123;38323597]When you talk billions, millions seems like nothing.[/QUOTE] Yes but they plan on cutting jobs in order to save billions. Which means in order to arrange for this, people lose jobs so that they can spend about 1.5 million on a "money saving" extravaganza. So I don't really think it's fair to say that it sounds like nothing, when it's really jobs we're talking about here.

"Now before we begin, does anybody have a Benjamin? My nose is running."

[QUOTE=Pat4ever;38323605]Also something they don't mention in the OP; the hotel was actually Hitler's official residence in Berlin before he was made chancellor. Damn, that auto merge.[/QUOTE] That doesn't really have anything to do with what is going on here.

The amounts they must be planning on saving must be in the 10's of millions and spread out over years to justify this

The kicker is the part on how they will fire 2000 employees in the process also.

[QUOTE=Sgt. Khorn;38324846]The kicker is the part on how they will fire 2000 employees in the process also.[/QUOTE] In the process goes a years salary for hundreds of employees because of this "money saving meeting".

Are you guys honestly surprised? I sure ain't. Bosses raising their own salaries while the company goes through massive layoffs isn't unheard of, so this shouldn't be either.

I hate my country. Ruled by the rich and witless, kept alive by the hardworking ones with double shifts.

The worst part of modern business is that the focus is set towards maximizing the wealth of shareholders in the short run by dropping costs left right and center, which most of the time includes the low level employee. Most cost cutting measures only work until revenues again cannot keep up with the increasing operating expenses. Businesses and corporations need to focus on creating an environment in which the business can be sustained for years to come without the sacrifice of the people who rely on it for employment. The focus should be long term instead of the short term.

they should have just farted in their employee's faces, would have saved everyone a lot of trouble

[QUOTE=mcattack1092;38325590]The worst part of modern business is that the focus is set towards maximizing the wealth of shareholders in the short run by dropping costs left right and center, which most of the time includes the low level employee. Most cost cutting measures only work until revenues again cannot keep up with the increasing operating expenses. Businesses and corporations need to focus on creating an environment in which the business can be sustained for years to come without the sacrifice of the people who rely on it for employment. The focus should be long term instead of the short term.[/QUOTE] But-but...free market...

This reminds me of those meetings where they discuss the climate and how to save the earth, but they all fly over with their private jets shitting out tons of CO2 :v:

[QUOTE=wizu;38325587]I hate my country. Ruled by the rich and witless, kept alive by the hardworking ones with double shifts.[/QUOTE] Blame the hardworking ones for not even trying to stand up against their oppressors.

In Ireland it recently came to light that AIB (Allied Irish Bank) was using bailout money for top exec's bonus money. People are starting to get really angry at bankers and top tier business men, Sean Quinn was sent to prison only recently, he was the richest man in Ireland.

I don't really see a problem with this. They obviously want to discuss cuts in the long term, the amount that will be spent over these three days will be nothing to them. Especially if their goal is €4.5 billion in cuts by 2015.

[QUOTE=znk666;38325677]Blame the hardworking ones for not even trying to stand up against their oppressors.[/QUOTE] They do though, just to get labelled filthy drug addicted criminals by the press. See OWS.

[QUOTE=Antdawg;38325879]I don't really see a problem with this. They obviously want to discuss cuts in the long term, the amount that will be spent over these three days will be nothing to them. Especially if their goal is €4.5 billion in cuts by 2015.[/QUOTE] Because going home or else was too difficult V:v:V

All this to say "You're fired"/"We're gonna pay you less" to their lowest ranking workers.

I am so fucking tired of these rich, greedy assholes. They have no fucking perspective at all, do they?