New Delhi, Nov 13 (IANS) The Confederation of Resident Welfare Association, a pan-India apex body of RWAs, on Friday shot a letter to Union Environment Minister Prakash Javadekar seeking concrete actions to curb the air pollution menace in the country, instead of hiding its failure under the garb of stubble burning. The association put forth a nine-step solution model before the government. It urged the government to induct 200 CNG and electric city busses up to last mile connectivity in every big city on priority and restrict tempo and autos to arterial roads. This will lead to minimal use of personal vehicles by commuters automatically, it said. This comes in the light of the spike in air pollution in Delhi and adjoining states like Haryana, Punjab and Uttar Pradesh. The situation has become grave due to the wrath of the coronavirus pandemic, which reportedly gets aggravated by the pollution. The confederation said, "The government could have taken the right steps from 2013 onwards instead of hiding its failure under the garb of stubble burning." "Every industry is supposed to install and run an effluent treatment plant (ETP) for its liquid and air discharge. In reality, most industries dump their effluent into the ground by reverse boring within their premises by stealth," the confederation said. It added, "Some of the industries have installed ETPs for show, they run them only during inspection. This happens with the tacit approval of the PCs. To break this nexus, let the civil society in each city be allowed to carry out surprise checks of ETPs." The RWA body, headed by Rao VBJ Chelikani, urged the Union ministry to ask the local administration to adopt green cremation system as it would save about six crore plants annually. "Since the 'kapal kriya' and other rituals can be performed as in conventional cremation, no one can raise a voice in the name of 'aastha' as against the electric crematorium. Two such units have been installed at the Hindon cremation yard in Ghaziabad," it said. Giving another solution, the confederation said that if 2,000 CCTV cameras are installed on the main roads passing through a city, the traffic will become smooth, accidents will reduce, jams will decrease. Traffic congestion increases vehicle emissions and degrades ambient air quality. Further, it asked the government to allow every district magistrate to decide one car free day per month. The idea of vertical gardening and e-waste collection centre was also put forth. "A research from Mexico brings out that creepers covered on the facade of a four-story building can absorb 40 tonnes of toxic gas in a year. Can we not start raising creepers on the walls of fly overs and Metro lines followed by government buildings and private buildings? It neither requires space, nor budget nor amendment in the Constitution," it said. The confederation said that there should be sanitary land-fills instead of dumping grounds. "Mumbai and Delhi have already burnt their hands by developing dumping grounds. Let there be sanitary landfills. It requires filing of solid waste in trenches and its daily consolidation and covering," it said. The confederation further said that unauthorised vehicles in north India and tractor trolleys carrying uncovered building material, which do not pay any road tax, should be banned for at least three months with immediate effect. --IANS aka/arm

All India RWA suggests 9-step solution to curb air pollution

<keyword id="18635" type="CITY" weightage="100" keywordseo="Amazon">Amazon</keyword>.in introduced the first sale this year under the Great Indian Sale, today and we decided to find out the best deals possible. 
 
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<a href="http://www.businessinsider.in/budget-2017-what-india-can-take-away-from-uks-startup-friendly-policies/articleshow/56661376.cms">ALSO READ: What India can take away from UK’s startup-friendly policies</a> 
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By Deepak PatelNew Delhi, Apr 13 () With India under lockdown to stem the spread of coronavirus, drones are proving to be a crucial tool in the functioning of law enforcement authorities and other government agencies which are deploying these Unmanned Aerial Vehicles for carrying out surveillance, sanitisation and to reach out to people, minimising the risk of infection for their personnel.While Gujarat Police is using 200 drones across the state to monitor people's movements, Delhi Police has deployed them to ensure people follow social distancing in Asia's largest fruit and vegetable wholesale market Azadpur Mandi. Municipal authorities in Madurai are utilising them to disinfect areas near the coronavirus wing of a city hospital.These are only a few examples of UAVs being used in the fight against coronavirus.However, government agencies aren't the only ones to tap into technology in these tough times, media organisations are also using drones to show people confined indoors the impact of the world's biggest lockdown."It is fair to assume that out of 20,000 drones registered with the government, about 450-500 drones are already being used all across India to assist different states and law enforcement agencies," Smit Shah, Director - Partnerships, Drone Federation of India (DFI) told .The DFI is an industry body that has companies like Asteria Aerospace, Quidich Innovation Labs, AutoMicroUAS, Aarav Unmanned Systems and Indrones as its members."Drone startups have come out and extended their support to the government on a no-cost basis. Most of the drone service providers are not charging for the services they are providing," Shah noted.India has remained under lockdown since March 25 to contain the spread of COVID-19, the disease caused by coronavirus, which has so far infected 10,815 people and claimed 353 lives in the country.On Tuesday, Prime Minister Narendra Modi announced that the lockdown, which was originally for 21 days, will be extended by 19 days to May 3 as the measure has produced a significant outcome in containing the infection.Shah said drones are being used for carrying out a host of tasks like surveillance to ensure that people are maintaining social distancing, spreading awareness about COVID-19 in densely populated areas, spraying disinfectants and checking people's temperature.During the initial days of the lockdown, drones were used by the Jammu and Kashmir administration to announce restrictions on movement of people in Srinagar's busy Lal Chowk.Delhi Police is also using drones to monitor people's movements in Ghazipur Mandi, which witnesses a steady stream of buyers throughout the day.The municipal corporation of Warangal in Telangana has collaborated with a private company, Binford Robotics, to deploy its UAVs for surveillance and spraying disinfectants in the city.According to experts, as the number of coronavirus cases in the country mounts, the use of the UAVs is also expected to rise.Ankit Mehta, co-chair of a FICCI committee on drones, told , "Right now, the need of the hour is that the Ministry of Home or state police departments should take a call on whether they need drones with megaphones as a reinforcement tool, otherwise their containment strategies won't work.""This is the time to go for mass procurement and leverage the entire drone production capability of the country. It will take us two-three weeks to start delivering," said Mehta, who is also the CEO of ideaForge, a drone manufacturing company.He called for stepping-up the use of drones."Containment zones are going to be around for a while, and they are going to extend because it is a contagious virus. What is required is 24x7 deployment of drones for surveillance to enforce containment and not sporadic usage."My estimate is that we have 640 districts. If about 2,000 drones are inducted, assuming that each district needs around 3 drones, we can enable a broad level of persistent surveillance in the major containment zones," he said.Mehta said several state police departments are already customers of ideaForge and they had procured surveillance drones well before the lockdown."Some of these departments, which were planning to place orders with us, have asked us to deliver drones quickly since the beginning of lockdown," he said.DFI's Shah, however, recommended incentivising the approximately 20,000 drone operators who are registered with the Ministry of Civil Aviation."This would be much more cost-effective for the governments as against procuring new drones at this time as that would involve management of equipment, training programmes and capacity building, which might not be feasible as of now," he said.For media organisations too drones are proving to be a boon at a time when many parts of the country have been sealed and are out of bounds for outsiders.Remote-controlled UAVs allow media organisations to shoot videos or click photographs and cover various aspects of the lockdown.For instance, The Times of India's Chennai supplement on Sunday posted online a 5-minute video, which was shot using drones, showing how the once-bustling city has come to a standstill during the lockdown.A senior executive of a news organisation said the media companies in India generally use "micro drones", which weigh between one to two kgs."The drones are registered with the central government. Before deploying them, a news organisation generally takes permission from the local police department," the executive said.News organisations also make sure that while recording a video, the drone does not enter any restricted areas like an airport's airspace, etc, the executive noted. DSP DIV

Drones: The invincible frontline workers in India's fight against coronavirus

<div class="image-container float_right" style="width:480px"><div class="image"><a href="http://commons.wikimedia.org/wiki/File:Professional_Developers_Conference_2009_Partner_Expo_3.jpg">Wikimedia Commons</a><keyword id="370014" type="PERSON" weightage="60" keywordseo="Ray-Ozzie">Ray Ozzie</keyword></div></div>In another sign that HP is getting its act together after a rough couple of years, HP on Monday announced that it landed three new board members.
All have impressive backgrounds: tech legend and former Microsoft CTO Ray Ozzie, the former CEO of Liberty Media Dob Bennet, and the former CEO of McDonald’s and current chairman of Walgreens, Jim Skinner.
Last March, <a href="http://www.businessinsider.com/hp-board-vote-2013-3">shareholders nearly ousted three board members</a>, blaming them for nearly $17 billion in write-downs from some of HP's biggest acquisitions including <a href="http://www.businessinsider.com/hp-and-its-execs-have-been-slammed-with-10-lawsuits-over-the-autonomy-debacle-2012-12">Compaq, EDS, and Autonomy</a>.
The<a href="http://www.businessinsider.com/category/autonomy"> Autonomy acquisition</a> was particularly ugly. Under former CEO Leo Apotheker, HP bought Autonomy for $11 billion and then, less than a year later, wrote down $8.8 billion in goodwill and claimed it had discovered $5 billion of accounting fraud on Autonomy's books after the deal had closed. Various legal and regulatory authorities are now investigating.
Activist shareholders hotly criticised three board members: McKesson CEO John Hammergren, Wachovia CEO G. Kennedy Thompson, and Ray Lane. All three were were nearly voted off the board during the company's annual shareholder meeting in March. That's almost unheard of. Shareholders typically vote for standing board members with a high majority of votes.
Shortly after, <a href="http://www.businessinsider.com/should-meg-whitman-become-hps-next-chairman-2013-4">Hammergren and Thompson resigned</a> and Lane gave up his chairman's seat, but remained on the board. (<a href="http://www.businessinsider.com/sources-say-obstinate-ray-lane-refused-to-step-down-from-hp-chair-2013-4">Some sources say Lane refused</a> to step down voluntarily, too.)
Ralph Whitworth, a veteran shareholder activist, agreed to run the board as chairman temporarily and to staff it.
After the hubbub, another board member, legendary venture capitalist Marc Andreessen, gave his full-throated supported to HP's current CEO Meg Whitman, calling her an "outstanding" CEO.
"This company built Silicon Valley. It deserves to be a glorious success story for decades to come. I am going to stick with it for as long as I can be useful," <a href="http://www.businessinsider.com/marc-andreessen-loves-meg-whitman-2013-4">he said in April.</a>
<div style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;">The news of a rebuilt <keyword id="136326" type="ORGANIZATION" weightage="60" keywordseo="Board-of-Directors">board of directors</keyword> hasn't wowed investors so far. The stock is trading flat at ~$26.</div>
<div style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;"> </div>
<div style="overflow: hidden; color: #000000; background-color: #ffffff; text-align: left; text-decoration: none;">Here's the full press release from HP:</div>
PALO ALTO, Calif., July 15, 2013 — HP today announced that its board of directors has appointed three new members.
Robert R. “Dob” Bennett, former president and chief executive officer (CEO) of Liberty Media Corporation; Raymond E. Ozzie, former chief software architect of Microsoft Corporation and founder of Talko Inc.; and James A. Skinner, former vice chairman and CEO of McDonald’s Corporation and current chairman of Walgreen Co., will join HP’s board, effective today. The appointments increase the number of HP directors from nine to 12.
Over the coming months, the board will continue to search for additional world-class directors as well as a permanent non-executive chairman. Ralph V. Whitworth will continue to serve as chairman of the board on an interim basis.
“In April, we made a pledge to recruit the very best, most talented leaders to HP’s already outstanding board,” said Whitworth. “Dob, Ray and Jim bring tremendous capital allocation, technological, operational and leadership expertise and experience to the table. I’m confident they will make enormous contributions as we support Meg and her team in rebuilding HP by better serving our customers, strengthening our partnerships and building value for our shareholders. It’s an enormously satisfying time to be part of HP, and today’s announcement adds to our ability to deliver on our promises.”
“As we move forward with our turnaround, it’s a huge benefit to be able to get advice from a board made up of such experienced business and technology leaders,” said Meg Whitman, president and CEO, HP. “For their part, Dob, Ray and Jim have just about seen it all during their careers. I’m very grateful for their support, as well as the ongoing support from all of the directors.”
With their addition to the board, Bennett will become a member of the Finance and Investment Committee and the Audit Committees, Ozzie will join the Technology Committee and the Finance and Investment Committee, and Skinner will join the Audit, HR and Compensation, and Nominating and Governance Committees. Note to editors: Ralph Whitworth posted comments regarding this announcement at www.hpnext.com.
 About Robert R. “Dob” Bennett
Dob Bennett is the former president and CEO of Liberty Media Corporation. He served in those positions from April 1997 until August 2005. He was one of the founding executives of Liberty, serving as the principal financial officer from its inception in 1991 until 1997. He currently is principal of Hilltop Investments, LLC, a family investment company.
Bennett also served as president of Discovery Holding Company, Inc. from March 2005 until September 2008, when it was merged with Discovery Communications, Inc., creating a new public company. Prior to his tenure at Liberty, Bennett worked with TeleCommunications, Inc. in a variety of financial positions and with The Bank of New York. He currently serves on the boards of Liberty Media Corporation, Discovery Communications, Inc., Sprint Corporation and Demand Media, Inc.
Bennett holds a bachelor’s degree with honors in economics from Denison University and an MBA from Columbia University.
About Raymond E. Ozzie
Ray Ozzie, an industry visionary and pioneer in computer-supported cooperative work, left his role as Microsoft’s chief software architect in December 2010 and founded Talko Inc., a firm focused on a new generation of mobile communications applications and services.
Ozzie assumed the role of chief software architect at Microsoft in June 2006. In that role, Ozzie had oversight of the company’s technical strategy and product architecture, and directed development of the company’s next-generation software services platform. Ozzie was Microsoft’s chief technical officer from April 2005 to June 2006. He took up that role when Microsoft acquired Groove Networks, Inc., a collaboration software firm Ozzie formed in 1997.
Before Groove, Ozzie was a founder and president of Iris Associates, where he created and led the development of Lotus Notes. Before Iris, Ozzie contributed to the development of Lotus Symphony and Software Arts’ TK!Solver and VisiCalc, and worked in distributed operating systems development at Data General Corp.
Honored as one of seven “Windows Pioneers” by Microsoft, Ozzie also was named “Person of the Year” in 1995 by PC Magazine and has been inducted into the Computer Museum Industry Hall of Fame and the InfoWorld Hall of Fame. In November 2000, he received the Institute for Electrical and Electronics Engineers (IEEE) Computer Society’s W. Wallace McDowell Award, and in 2001, he was honored as a World Economic Forum Technology Pioneer. In 2004, Ozzie was inducted as a member of the National Academy of Engineering, and in 2010, he was named as a fellow of the American Academy of Arts &amp; Sciences. Ozzie has served as a member of the National Research Council’s Computer Science and Telecommunications Board and currently serves on the board of directors of the Electronic Privacy Information Center (EPIC).
Ozzie earned a bachelor’s degree in computer science from the University of Illinois Urbana-Champaign.
About James A. Skinner
Jim Skinner has served as a member of the Walgreen Co. board of directors since 2005, and was appointed non-executive chairman in July 2012. He is the retired vice chairman and chief executive officer of McDonald’s Corporation. Before his promotion to McDonald’s CEO in November 2004, Skinner served as vice chairman overseeing restaurant operations in Africa, Asia, Europe and Latin America.
Skinner held numerous leadership positions during his McDonald’s career. Before becoming vice chairman, he served as president and chief operating officer of the McDonald’s Restaurant Group, with responsibility for the company’s more than 30,000 McDonald’s restaurants in 119 countries. Prior to that, Skinner was president of McDonald’s Europe.
Skinner joined McDonald’s International management team in 1992 as senior vice president and relationship partner, overseeing McDonald’s development in Africa, Central Europe, India and the Middle East.
After serving in the U.S. Navy for nearly 10 years, Skinner began his career with McDonald’s in 1971 as a restaurant manager trainee in Carpentersville, Ill. He advanced quickly and held numerous positions in the U.S. company, including director of field operations, market manager, regional vice president and U.S. senior vice president/zone manager.
Until his retirement, Skinner served on the board of directors of McDonald’s Corporation and currently serves on the boards of Ronald McDonald House Charities and Illinois Tool Works, Inc.
Skinner also is a member of several civic and business organizations, including The Economic Club of Chicago. He also serves on the board of trustees for the Museum of Science and Industry.

Hewlett Packard Rebuilds Its Battered Board With Three Big Wigs: Ray Ozzie, James Skinner, Dob Bennet

<div class="KonaFilter image-container float_right"><div class="image"><a href="http://www.flickr.com/photos/dachis/8337589366/in/photostream/">Adam Dachis/Flickr</a></div></div>When I heard about Kevin Roose's new book, <a href="http://www.amazon.com/Young-Money-Streets-Post-Crash-Recruits/dp/0446583251">Young Money</a>, of course I wanted to read it - after all, Liar's Poker lit the fuse on my own Wall Street aspirations. Although I do not know Kevin personally, I am fond of his work as a writer for New York magazine (and previously as a reporter for Dealbook), and I also enjoy following him on Twitter. What interested me most was the timing and uniqueness of Kevin's premise - shadowing a diverse group of young investment bankers (1st year analysts) for two years, as they started their careers on Wall Street in the immediate wake of the financial crisis. The book does not fail to deliver, and Kevin's conclusions present a fascinating reality and perspective of young Wall Street life today that I think everyone will find intriguing. It's also a great case study on entitled Millennials, or Generation Wuss, as Bret Easton Ellis has recently described them. There's been a huge amount of fanfare and media attention around a few of Kevin's observations and conclusions: • Wall Street culture is still somewhat odious (and possibly contagious) • The lives of young bankers tend to be pretty dreadful - where "glamour meets masochism" as Roose puts it, but the glamour and prestige are gone • Worse, the prospects for a viable and fulfilling (personally and financially) career on Wall Street are "eroding" • Wall Street is no longer the default destination of our best, brightest, and most ambitious - a fact that is clearly supported by Roose, anecdotally and statistically
With all of the other glowing reviews, there's not much for me to add… So I thought I would take a stand, and make a defense of Wall Street. Young Wall Street Life is Hell… Yes, the life of a young analyst on Wall Street can be miserable. With the help of his eight analyst-subjects, Roose paints a very accurate portrait of the often soul-destroying 100-hour workweeks, tyrannical bosses, and menial Excel and PowerPoint work that the job encompasses. I spent my first year in absolute misery, sitting in an analyst bullpen in M&amp;A, taking orders from my ass-kissing Associate staffer. I suffered through insanely and needlessly long hours, juggling face time, monkey work, and bogus fire drills initiated by an insecure VP, all while being stifled by an absurdly rigid hierarchy. But all of that bulls--- aside, the firm invested a significant amount of resources in developing and training me; Wall Street has one of the most prestigious training programs on the planet. They assigned me formal and informal mentors - people who make $3-$5 million dollars a year, at my disposal, to help guide me not only my career, but also in life. That's why, when I hated M&amp;A, I stuck it out. I did my best. At then at the end of the year, I was ranked (and paid) at the top of my class. And so with the help of my mentor, rather than risk losing me, the firm happily made room for me in the team of my choice. Within no time, I was on the trading floor, with 4 screens, a dealerboard, a Bloomberg terminal, and near infinite resources at my fingertips. There was no hierarchy. Surrounded by so much energy, excitement, and hunger to make money, I was excited to come to work every day and loved every minute of it. I was ranked at the top of my class every year, was offered the 3rd year and the promotion to associate. Kevin explains the experiences of some of his analysts quite differently. Maybe it's because they were placed on bulls--- desks (Municipal bonds or Public Sector Finance), where ranked and paid at the bottom of their classes, denied promotions, and in some cases made redundant. Last time I checked, the guy that never gets a date is usually the one who hates the prom most vocally. Wall Street is bad for you… Not only that, the job can make you ugly and fat. Roose comments on the noticeable impact it's having on the appearance and health of a few of his subjects. This is a fair point. No time or energy for the gym. Breakfast, lunch, and dinner at their desks. And, it's not only the job that has contributed to the weight gain. For many of these kids, it's the first time in their lives that they have more money than they have time to spend it. That means whenever they're not eating at their desk, they're dining (and drinking) out - lavishly. Work. Drink. Eat. Drink. Pass Out. Repeat. It's 18th century sexy - pale skin, bloodshot eyes, a fat ass, but… a fatter wallet. Even with all of that face time, I still made plenty of time for the gym. The best part was sneaking in time to go during the early evening, which enabled me to justify working late enough for the free NOBU take-out and the black car service home. Main Street Still Hates You… Although the pendulum is gradually swinging back towards the rational, Wall Street bankers are still viewed by many to be social pariahs - so much so that a few of Roose's subjects are actually embarrassed to tell their friends and family that they work on Wall Street. It's amazing to me that "I work at Goldman Sachs" could be a source of shame for a kid coming out of college in 2010. You Will Destroy Relationships… There are some great moments in Young Money about these kids watching their relationships fall apart in slow motion, or even having to decide between a relationship and a job. Boo-hoo. I wonder how many times they wrote "#firstworldproblems" in their late-night Facebook therapy sessions with their freshman-year roommate who actually did sign up for Teach For America. Last time I checked, that's called life. My college relationship didn't survive my analyst career. So I just started dating a banker. She knew all about cancelled plans, weekend conference calls, and skipping the post-coital cuddle and going straight to the Blackberry. The best part was that we never got sick of each other because we only had time to see each other a couple nights a week. And our independent schedules aligned so infrequently that I had plenty of "me time" for the nights that I just wanted to sit at home, drink a 12 pack, and play Mario Kart. You Will Go Directly To Hell…?
 Roose writes, "Jeremy came to Goldman a soft-spoken, cerebral kid, but in less than two years, he had developed short temper and was quick to point out others' mistakes in a way that was often unkind and had little patience for people whose intelligence he couldn't respect." I remember this transformation vividly. When I went home for the Christmas holidays during my first year as an analyst, my sister told me that I was "simply an asshole." And on my next trip home, I was instructed to walk around Wal-Mart for fifteen minutes as a way of re-acclimating to the pace of "the real world", or as I saw it at the time, an attempt regain a more forgiving attitude toward stupidity, inefficiency, and incompetence. In line with many of Roose's conclusions, Wall Street can be an amoral, aggressive, and insular culture of elitist assholes that molds its disciples in that image. When it comes to work, I'm happy to be unemotional and pragmatic, and to reserve little patience for people who waste my time. I wish I had the luxury to be something else.
<a href="https://twitter.com/GSElevator/statuses/353224858181713920">"I leave the Hamptons on Sundays, so that my family doesn't have to."</a> Over time, I learned to never let a job define me as a human being. Roose seems genuinely concerned that his subjects will be transformed into one of these vapid money and power-obsessed drones, "slower to smile, quicker to criticize." Towards the end, he even seems to chastise Derrick for possibly falling under Wall Street's evil spell. I saw it coming - the kid kept tombstones (lucite deal trophies) in his bedroom, and seemingly uses douchey phrases like "models and bottles" to describe his nightlife. So Why Go to Wall Street… Kevin gives some great insights on a point that I think is widely misunderstood: How and why do people (especially today) end up on Wall Street? Besides the influence of Liar's Poker (and Den of Thieves, The Predator's Ball, Barbarians At The Gate, and Highly Confident), my enamorment with Wall Street was reinforced in prep school when all the parents came down from Greenwich for parents' weekend. The Wall Street dads were the cool dads with the sports cars, and a propensity for profanity. They'd tell our Dean we were spending the weekend with them in Connecticut, only to let us to disappear into New York City. This, at the age of 14 was my first interaction with Wall Street and it taught me the #1 rule of life (from Douglas Bader): However, from what I have seen subsequently, and as Kevin clearly illustrates, my experience is not the norm. Most people go into investment banking because they obviously do well in school and are smart and ambitious, but they either have no clue what they want to do in life, or they just don't have the balls to go out there, be creative, and take a risk. But, Wall Street isn't for everyone… Roose picks an eclectic, diverse set of individuals to follow in terms of race, sex, and socioeconomic background. He even recruits a couple of kids from non-target schools who somehow manage to backdoor their way into their Analyst programs - all of which makes for great perspective in the book. It's a big ask and I commend him for having been successful in putting it all together. But there is an argument to be made that clearly the type of person that he might gravitate toward would be the left-leaning, cynical, reluctant bankers… And vice versa - the type of person who would take the considerable risk in collaborating with Roose would be similarly minded. "There are three sides to every story: Your side, my side, and ?the truth. And no one is lying." - Robert Evans This does not make it any less true, or his conclusions any less relevant. But in my defense of Wall Street, it allows me to say that there are thousands of kids who have rewarding, fulfilling, and successful analyst experiences on Wall Street. What about the kids at the top of the analyst classes? One of his subjects (Chelsea) finds her co-workers boring and tedious. Maybe that's because she got stuck on the f---ing Municipal bond desk. I'd bet her assessment might be quite different on the Emerging Market hedge fund credit sales. A few of the others are disenfranchised to the point of depression. If I sucked at my job and got paid at the bottom of my class, I'd be pretty depressed too. Generation Wuss… This leads me to my next point. Perhaps this isn't just about Wall Street, as it is about entitled Millennials, or "Generation Wuss." My father probably didn't walk 8 miles to school, but I know that when I was an analyst, I had to go into the office at 2am, anytime some idiot from Asia called me wanting some US$ corporate comps, or a generic Eurobond market update. BlackBerrys had only arrived on the scene, and Bloomberg Anywhere was still a few years off. By comparison, these analysts have it easy… And I don't have to get into the hazing. In his book, the notion of "existential" comes up time and time again. The kids get high and think about life. They pound Bud Lights and think about life. They eat shroom sandwiches and think about life. Existential masturbation: a luxury of millennial generation. I don't have a problem with that. Kids today don't want to eat sh-t for two or three years, especially when the long-term guarantee of financial success and prestige on Wall Street has evaporated. That's fine; there's the door. Many kids today would be better off pursuing other career paths, and society would be better off too. I concede that there are plenty of douchebags on Wall Street… Once again, full credit to Roose for making sure he looks at the picture from every possible angle, in what he calls his "douchebag deficit." To compensate for the fact that his subjects seem balanced in their cynicism, he crashes a Fashion Meets Finance mixer, in one of the more hilarious moments in the book. Just imagine listening to a guy talk about "joining The Street after B-school," and when referring to a new watch (probably a Hublot), saying something like, "Yup. You noticed, huh. Just test-driving the new piece." (I'm exaggerating Roose's story, but it's still fantastic.) Roose nails it… And I wish I had been right there with him taking notes, to the extent that @GSElevator often highlight certain less flattering aspects of Wall Street culture: <a href="https://twitter.com/GSElevator/statuses/156964572530606080">"Some chick asked me what I'd do with $10 million bucks.? I told her I'd wonder where the rest of my money went."</a> I guarantee every female in Manhattan will laugh out loud when they read this chapter. Wall Street is losing talent… Roose points out some fascinating statistics. His trips to recruiting sessions at Wharton, Princeton, Yale, and Harvard make for some really insightful reading and perspective. And I credit Roose in his attempts to objectively look at all aspects of the story, well beyond the anecdotes and experiences of his eight subjects. I'm in full agreement with Roose. It's clear that matriculation is down. Wall Street is still recovering and/or adjusting to the new paradigm - and smaller analyst classes will reflect that. And tech is as hot as I've seen since I let the Money Honey, David Faber, and Mark Haines dictate my intraday E*TRADE decisions in college. Roose is absolutely correct that this is great for society. But I would also say that it's not so bad for Wall Street either. There's no point wasting time on the people who can't hack it, don't know what they're getting in to, or don't want to be there (other than to suck out a six figure paycheck and bitch about it.) Kappa Beta Ph-uck You… Kevin's story about sneaking into the annual induction ceremony of Wall Street's (somewhat) secretive and exclusive fraternity, Kappa Beta Phi is incredible: "What we learn isn't pretty. The event consisted of a stream of sexist and homophobic remarks, along with jokes mocking poor people and belittling Wall Street's critics. And, of course, there was a lot of bragging by the industry leaders about their wealth and status." This event, in January of 2012, isn't particularly defensible. I'm broadly in agreement with everything that has been said about it. It's vulgar, insensitive, and stupid. But really… Sexist, bigoted, racist, homophobic, classist remarks from a bunch of rich, white guys getting drunk and celebrating themselves. Why is anyone surprised? That's like being flabbergasted that some backwoods, redneck, duck hunting Christian zealot has some extreme and antiquated views on gays. There's a shock. Don't get me wrong. Having a roast and making fun of each other is one thing, but telling jokes about the 99% or having unlimited access to bailout money is just as Roose concludes, "a gargantuan middle finger to Main Street." But, in my opinion, the most offensive thing we learn from this is that their jokes are terribly stupid and unfunny. And it's even more worrisome is that these Grand Wizards are so obtuse and self-absorbed that they allowed an unknown face, less than half the average age, to sit with them, unnoticed, for two hours, in a shitty rental tuxedo. But as I said, I'm not surprised. If anything, it sounds like some of our team dinners, or one of my tweets: <a href="https://twitter.com/GSElevator/statuses/233183548029427713">"I never give money to homeless people. I can't reward failure in good conscience."</a> <a href="https://twitter.com/GSElevator/statuses/122369529576820736">"My garbage disposal eats better than most people"</a> <a href="https://twitter.com/GSElevator/statuses/228577113161228290">"Riding the subway reminds me why I am pro choice"?</a> <a href="https://twitter.com/GSElevator/statuses/230201765482610689">"He's definitely gay. His 'EBITDA' sounds more like 'Ibiza'."</a> Roose says he is scared that the "thoughtful, socially conscious young analysts" he knows will end up like that. But "if it becomes the kind of antiquated, pitiful event that draws grimaces and eye rolls, maybe's there's hope for the New Wall Street after all." Fat chance. He should read the endless stream tweets I get from college-aged kids in response to something particularly offensive or odious on @GSElevator - along the lines of "This makes me want to work at Goldman Sachs." In Conclusion… Roose might just get a Nobel Prize for his contribution to society by convincing many of our best, brightest, and most ambitious minds not to waste their time and talents on Wall Street. Young Money should be required reading for any college student pursuing a career in finance, and especially for any student who is thinking about a career on Wall Street because they aren't sure what they really want to do. I'm with Kevin; go out west and enjoy the cache of Silicon Valley. Forget about your tyrannical psychopathic boss on Wall Street, and then go work for the next Steve Jobs. (Because, he wasn't like that at all.) It's great to be creative. Just make sure you're on the right side of the casting couch. Go ahead and join Google or Apple. Just make sure you're not the guy trapped in a Foxconn compound or the slave digging up Europium. After all, yesterday's headline of "BofA Said to Boost CEO's Compensation 17% to $14 Million" was quickly eclipsed by "Facebook Is Buying Messaging App WhatsApp For $19 Billion." Has Wall Street really changed? Yes, and no…. But we'll be okay. That reminds me of a story from the early 2000s. We replaced the contents of a junior colleague's suitcase with a metal spatula (bent into the shape of a gun) and a mountain of gay porn. It turned out to be quite a nice little surprise for some TSA agent and our unsuspecting associate. But today, in the softer, post-crisis Wall Street era, we'd probably think twice about a stunt like that…. This time around, we'd make sure to use gay, straight, and transgender porn.

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