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&lt;p&gt;Merrill Lynch is back in the headlines, as its CEO John Thain (and soon-to-be investment banking, securities and wealth management head of Bank of America once his firm is folded into the North Carolina-based consumer banking giant) told Bloomberg News that thousands of Merrill jobs will be cut in IT, operations and other back-office groups. It was also revealed that to prepare for the economic downturn, Thain plans to cut an additional 500 traders. And there&amp;#8217;s likely to be more layoffs.&lt;/p&gt;&lt;p&gt;According to some reports, when all is said and done and the bull has been swallowed and digested by BofA, it could be a bloodbath, with as many as 15 percent of Merrill&amp;#8217;s staff left without jobs. Seems Merrill&amp;#8217;s layoffs will be more severe than the firm had originally alluded to. But then again, isn&amp;#8217;t that always the case? Though it makes sense to buy low and sell high when it comes to investments, the job cut (and write-down) rule of thumb as of late has been &amp;#8220;sell low,&amp;nbsp;announce high.&amp;#8221; &lt;/p&gt;&lt;p&gt;In other&amp;nbsp;tales of perception, it appears that &amp;#8220;the world&amp;#8217;s local bank&amp;#8221; now has &amp;#8220;different values.&amp;#8221; London-based HSBC is making a significant statement to its existing (and potentially new) customers in the five boroughs by&amp;nbsp;unveiling its new &amp;#8220;different values&amp;#8221; slogan on every inch of available ad space in the current issue of &lt;em&gt;New York&lt;/em&gt; magazine. As for what sort of statement the bank is trying make, that&amp;#8217;s open for interpretation. Three interpretations, HSBC hopes. In one ad, for example, overlaid on the back of a photo of a shaved head that could be a woman&amp;#8217;s or a man&amp;#8217;s are the words &amp;#8220;style,&amp;#8221; &amp;#8220;soldier&amp;#8221; and &amp;#8220;survivor.&amp;#8221; (Note: if you are a New Yorker and interested, you don&amp;#8217;t have to buy &lt;em&gt;New York&lt;/em&gt; to check out these Oh So Very Clever But What The Heck Do They Have To Do With Banking Or The Financial Crisis ads. Just look up when riding the train; HSBC likes them so much that they&#39;ve also splattered them all over the subway.)&lt;/p&gt;

Derek Loosvelt

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