Posted 7/12/2004 06:22:00 PM by Douglas

In no way am I trying to belittle or diminish the pain and suffering forced upon Ms. Schieffelin, but $12 Million for being passed up for a promotion? Is this justice, or a Lotto payout?

Wall Street brokerage Morgan Stanley agreed Monday to pay $54 million to settle claims of widespread sex discrimination at the firm, including strip-club outings with clients and higher pay for men.

The settlement was announced just as a jury, including eight women, was to hear a trial in the case, brought by the Equal Employment Opportunity Commission and former Morgan Stanley bond seller Allison Schieffelin.

Schieffelin, who claimed she was denied promotions at the firm because she is a woman, will be paid $12 million under the settlement, with $40 million earmarked for claims filed by other women at the firm.

Can we all agree that discrimination is wrong? Ok, good. Now what the hell does this solve? She's got so much money she'll never have to work again, her lawyers get enough to take some of the junior partners to a strip club, but is anything going to change from this? Why am I so doubtful? Why does this make her look like a militant, money-hungry opportunist?

Here's a open memo to my employer: For $12 Mil?? Oppress me. Hell, you can oppress the hell out of and I'd settle out of court for half that ammount.

Also gotta love this picture. When I first glanced at it, even before I read the story, It didn't look like she was holding a raincoat. It looked like a giant sack of money, with huge $$ on the side of it. I guess that would have been more appropriate.