The paper of record had a “fascinating” story this week about a new corporate policy at JP Morgan Chase. No longer are bankers required to wear suits and ties to work. The uniform, if you will, has gone casual, The New York Times reports, in an effort to compete with “more trendy” employers like start-up technology firms. The Wall Street Journal, The New York Post, Business Insider and a host of others picked up this breaking news out of 270 Park Ave as well with features stories on this fascinating turn at the bank.
This, dear friends, is not news – it is what you call a slow news day. I mean, really, does anyone care about what Jamie Dimon and his minions wear to work? I guess if the bank were going clothing optional, well then it might be newsworthy. The fact that ties and suits are no longer required? The only people who might care work at Brooks Brothers and maybe Paul Stuart.
According to The New York Times piece, all 237,420 employees where told via memo that the firm’s operating committee had made the decree. Can you imagine that this sort of thing was discussed in the operating committee meeting? Is this a good use of the operating committee’s time? I am glad that I am not a shareholder.
The bank and its management should be trying to find ways to maximize shareholder value and I just don’t see how changing the dress code is going to do this. I am sure tons of would-be entrepreneurs who were making the post-graduation trek to Silicon Valley in hopes of creating the next best thing, have decided to turn around and head back to the concrete jungle to apply for a job at the nation’s largest bank. If you believe that, I have a Cape Cod tunnel pass to sell you.
Things that drive me crazy
I want to know who does not wash their hands after they go to the bathroom? According to a very quick, unscientific study that I recently completed, it seems that employees everywhere apparently don’t know about this basic act of hygiene. We are constantly bombarded with reminders to wash in every bathroom in every restaurant, coffee shop, warehouse club, supermarket, gym, school etc. The lobby behind the laws for posting hand-washing signs is one that I want to get to know. They did a great job getting the posting law on the books and I am sure are making a fortune selling signs to folks to remind them of something they were taught in nursery school.
