A little over a week ago, we broke the news that Park Avenue Café (currently Park Avenue Winter) is being sued by employees who claim they were forced to participate in illegal tip-pooling and discriminated against because they were South Asian. The Sun now reports that a court has allowed former employee Mohammed Rahman to bring a suit on behalf of nonwhite employees at Park Avenue Café, but stopped short of allowing a class-action suit against parent chain Smith & Wollensky. One of the reasons Rahman claims he was given a hard time, and eventually fired, is that he didn’t drink alcohol and so couldn’t taste wine — which has to be the first time someone has been canned for not drinking on the job.
Related:Park Avenue Winter Experiences Legal Discontent
Our new boyfriend, Zeppelin-loving new Merrill Lynch CEO John Thain, seems to be keeping his cool remarkably well, despite his firm's announcement yesterday that it was writing down $14.6 billion and lost nearly $10 billion, which caused its stock to drop 10 percent and fueled the growing perception that the economy is, or is about to be, in the shitter. But why shouldn't he be calm? After all, "I didn't cause this problem," he told the Journal today. But he does plan to solve it: by expanding international operations, and adopting some of the hierarchical strategies of his former employer, Goldman Sachs. Thain's hired Noel Donahue to run risk management and hopes to hire former Goldman co-head of sales and trading Tom Montag (no relation to Heidi). "The problem is not a zero, but it is for the most part behind us," Thain told the Journal. Can Thain, with his Clark Kent good looks and cool-headed fixer attitude, transform into Superman, steer Merrill back on course, and save us all? We kind of think maybe. Oh, and there's good news for media Chicken Littles, too: The Journal didn't bring up the poop incident, which we take to mean that Rupert Murdoch hasn’t wrapped his soft hands around their editorial coverage just yet.
Merrill's Risk Manager [WSJ]
Related: Setting The Story Straight On The Merrill Bonus Rage [Dealbreaker]
Related:Who Is NYSE CEO John Thain? [NYM]