The Federal Reserve Board (Board) publishes a weekly digest of its activities on its website. The digest is called the H.2 Release and is published every Thursday. The release for the week ending January 30, 2016, is below.
H.2 Release–Actions of the Board, Its Staff, and the Federal Reserve Banks; Applications and Reports Received
|Forms||Forms — request for comment on proposal to revise without extension the reporting requirements for U.S. intermediate holding companies of foreign banking organizations established under the Board’s Regulation YY (FR Y-9C, FR Y-9LP, FR Y-9ES, FR Y-11, FR Y-11S, FR Y-12, FR Y-12A, FR Y-14A/Q/M, Reg Y-13, FR 2314, FR 2314S, FR Y-6, FR Y-15, FR 4200, FR 4201).
-Proposed, January 28, 2016
|Regulations and Policies||Countercyclical Capital Buffer — extension to March 21, 2016, of the comment period for the proposed policy statement on the framework the Board would follow in setting the countercyclical capital buffer.
-Announced, January 29, 2016
Forced Ranking (a.k.a. “rank and yank”) and Yahoo! Inc.
Separately, but related to previous discussion, I will discuss some developments on rank and yank. Forced ranking is an abuse of managerial authority. Instead of openly doing a reduction-in-force, Dick Grote and management consultants, like McKinsey & Co., recommend setting up employees to fail and blame them for failing as planned. [Author’s note: This patent unfairness is at least one reason why this blog covers this topic.]
On February 1, 2016, terminated employee, Gregory Anderson, filed a lawsuit against his former employer, Yahoo! Inc. Yahoo’s rank-and-yank procedure has been discussed previously in this blog. At this point, only Anderson’s version of the events has been described. But what he has described in his lawsuit is similar to Dick Grote’s rank and yank program. It will be interesting to see the developments with this case.
In other news, Yahoo is planning to layoff 15% of its 11,000 employees (1,650 people).
This blog has covered the group Third Way previously. It is a front for Wall Street. After the financial collapse of 2008 and its aftermath (and the disgusting lack of Wall-Street-titan-directed response for fixing the mess and the government’s guaranteeing the losses), I have absolutely no respect for Wall Street. The financial sector’s mess caused devastation to the country.
Therefore, any policy recommended from this group must be scrutinized by the public. The Huffington Post got the acknowledgment of its Wall Street roots in an interview. (See Feb. 1, 2016, Facebook post of Social Security Works organization.)