Comments on: Thomas Weisel Shutters Discovery Research http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/ Basab Pradhan's weblog about business and life in a 'flat world'. 6 AM Pacific is the best time for a global conference call. Thu, 20 Nov 2008 22:52:38 +0000 http://wordpress.org/?v=2.6.3 By: Basab http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9685 Basab Fri, 21 Dec 2007 09:34:54 +0000 http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9685 Rajesh, I have entertained the notion that Discovery was not successful which contributed to its demise <blockquote>My guess is that Discovery’s traction in the market was middling to low. Otherwise, TWP would have done something either to retain the team or to rebuild it.</blockquote> But it is also true that they have sued BNP Paribas over this issue. Obviously, there are other things at play too. Rajesh, I have entertained the notion that Discovery was not successful which contributed to its demise

My guess is that Discovery’s traction in the market was middling to low. Otherwise, TWP would have done something either to retain the team or to rebuild it.

But it is also true that they have sued BNP Paribas over this issue. Obviously, there are other things at play too.

]]> By: Rajesh http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9626 Rajesh Wed, 19 Dec 2007 08:19:22 +0000 http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9626 it is a little naive and presumptuous of you to draw generic conclusions on attrition in the country and the work ethic of indian professionals without verifying your facts. one just needs to listen to Thomas Weisel's Q3 earnings call to realize that Discovery Research was terribly underperforming on client acquisition. so your flawed conclusions about the work ethic of the team could be flipped around to argue that the casual attitude of certain multinational firms to their India operations is bound to hurt. it is a little naive and presumptuous of you to draw generic conclusions on attrition in the country and the work ethic of indian professionals without verifying your facts. one just needs to listen to Thomas Weisel’s Q3 earnings call to realize that Discovery Research was terribly underperforming on client acquisition. so your flawed conclusions about the work ethic of the team could be flipped around to argue that the casual attitude of certain multinational firms to their India operations is bound to hurt.

]]> By: Madhu http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9406 Madhu Tue, 11 Dec 2007 22:02:56 +0000 http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9406 The reality of the Indian situation is that the workers are scared - of being made redundant by cheaper younger staff from within/without the country, not being able to save enough before the next crash, being in home mortgage traps etc...I bet 90% of the white-collar workers in India secretly fear that their work is going to go to China in the next 5 years. So not many are buying the 'value' proposition from their current employers. The reality of the Indian situation is that the workers are scared - of being made redundant by cheaper younger staff from within/without the country, not being able to save enough before the next crash, being in home mortgage traps etc…I bet 90% of the white-collar workers in India secretly fear that their work is going to go to China in the next 5 years. So not many are buying the ‘value’ proposition from their current employers.

]]> By: Shefaly http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9398 Shefaly Tue, 11 Dec 2007 10:41:05 +0000 http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9398 Extraordinary to see that a firm should think a lawsuit the right way to 'fight' something - free movement of labour; after all it can hardly be assumed that the TWP employees were abducted en masse by BNP - on which a large bit of Silicon Valley phenomenon is predicated! Perhaps the Financial Services sector can learn a thing or two from the technology industry after all, even as they learn to use it in their business to deliver enhanced value. Extraordinary to see that a firm should think a lawsuit the right way to ‘fight’ something - free movement of labour; after all it can hardly be assumed that the TWP employees were abducted en masse by BNP - on which a large bit of Silicon Valley phenomenon is predicated! Perhaps the Financial Services sector can learn a thing or two from the technology industry after all, even as they learn to use it in their business to deliver enhanced value.

]]> By: Krishna http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9393 Krishna Tue, 11 Dec 2007 06:04:13 +0000 http://6ampacific.com/2007/12/11/thomas-weisel-shutters-discovery-research/#comment-9393 One look at the growing brokerage and financial services industry in India will give you all the answers. Look at the valuations offered to an India Infoline, Motilal Oswal, Edelweiss etc. These firms now offer top $$ to attract talent but the talent pool itself is limited. Add to that boutique outfits founded by ex-investment bankers that sprout all around. They can't afford top talents at the asking price and will settle for analysts from pureplay research firms with the hope of beefing them up. Small cap research firms play a very good catchment area. As for the lawsuits, that's just throwing good money after bad. Attrition can be reined in only by a combination of factors like aggressive cash/stock compensation policies, exposure to state of art technology, good working environment, freedom to innovate and scope for terrific career growth provided by a responsive management. One look at the growing brokerage and financial services industry in India will give you all the answers. Look at the valuations offered to an India Infoline, Motilal Oswal, Edelweiss etc. These firms now offer top $$ to attract talent but the talent pool itself is limited. Add to that boutique outfits founded by ex-investment bankers that sprout all around. They can’t afford top talents at the asking price and will settle for analysts from pureplay research firms with the hope of beefing them up. Small cap research firms play a very good catchment area.

As for the lawsuits, that’s just throwing good money after bad. Attrition can be reined in only by a combination of factors like aggressive cash/stock compensation policies, exposure to state of art technology, good working environment, freedom to innovate and scope for terrific career growth provided by a responsive management.

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