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As Luck Would Have It

Posted on October 1st, 2008

Several people have been asking me how things have been going amid the turmoil in the financial industry. Before I get on with the post, though, I would like to extend my deepest gratitude and appreciation for the concern; I really do have wonderful friends!

The past few weeks have been unparalleled. Unprecedented. Unbelievable. The amount of change going on in the finance industry is really alarming; big banks have been getting swallowed whole, and others have been been caught in the current and swept away. Insurance companies have been getting picked off, and there is no clear end in sight. We have also witnessed the end of an era on Wall Street: gone are the days of the investment banks. Soon, we will see greater regulation and shorter leashes.

Within all of this turbulence stands a truly remarkable company. And, as luck would have it, the company happens to be the one for which I work, Bloomberg. Bloomberg enjoys a very unique position in the industry; it does not compete with the vast majority of the major players in the world of finance but, instead, partners with them as a service provider. We sell data, news, analytics, and exceptional customer service in one, uniform, comprehensive product.

In good times, firms are spending money on Bloomberg terminals because they can afford to provide them to more of their staff. In bad times, firms need reliable data and depend on Bloomberg terminals to keep them up-to-date and competitive. And since we provide such a complete package, we have had remarkable success in displacing our competition when our clients have to choose between us and them.

History tells me that this company can strengthen its position in times of economic distress; here is another opportunity to demonstrate extraordinary customer service and earn increased loyalty from our clients. The last time the economy went under a similar correction (late 2001 to 2002), the company redoubled its efforts and was rewarded with record sales in the years to follow.

I was told, today, that Mike (Bloomberg) will not be laying off anybody. The company has never had a lay-off period and, from what I gathered, does not anticipate ever having to do so. There is no price tag on the relief and comfort that I get from being able to rest assured each and every night that I will have a (great) job the next day (or week, or month, or year…).

So, clearly, I am really lucky. While going through the co-operative education process in university, I was very cynical and decidedly against the hassle. Without the experience and opportunities gained from that process, however, I probably would not have ended up in such a fortunate position. So hats off to the University of Waterloo for being such an innovative institution. (And obviously, my hat is off to Bloomberg for establishing its position.)

So I thank the good Lord for this chance. And anytime I complain about what I’m doing at work, please remind me about this post. Remind me that I am really fortunate to be where I am and to work with the amazing people that I do. Like our health, our education, and our freedoms, it should never be taken for granted.

(Can you tell that I really love my job and my employer?)

One Response to “As Luck Would Have It”

  1. Tony Says:

    That’s good to hear, dude! I hear nothing but good things about Bloomburg 🙂

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