11/30/2005

Discrimination at Merril Lynch

Discrimination at Merrill Lynch
The recent complaint by a long time Merrill Lynch broker that the company doesn’t hire enough blacks has the management concerned, especially since the chief executive is black. If Merrill Lynch meets the industry average, this does not strike me as discrimination but just hiring the best brokers they can whether they’re black or white. If Merrill Lynch tries to hire more than the industrial average, it is probably reverse discrimination. The Wall Street Journal article explores the complaint that African American brokers are typically given minorities and low net worth clients. I think business is tough, and it doesn’t mater your color only your drive to succeed.

3 comments:

Frank said...

here is the hyperlink that wouldn't copy
http://online.wsj.com/article/SB113340493683810991.html?mod=home_whats_news_us

Dr. Tufte said...

-1 on Frank's comment - since this could have been included in the post (for which you did get credit).

Dr. Tufte said...

This sort of claim is nonsense, but it isn't politically correct to say so.

To see how so, you need to establish precisely which companies did better by not engaging in this practice.

My guess is that the list has zero entries.