Wells Fargo & Co. abruptly canceled Tuesday a pricey Las Vegas casino junket for employees after a torrent of criticism that it was misusing $25 billion in taxpayer bailout money.
Wells Fargo is paying more attention to the backlash than Morgan Stanley. The end of the article has MS contradicting its travel agent about whether their own junket has been cancelled. My experience in logistics tells me that the travel agent is probably correct, so MS is going to be in for a wallop in bad publicity if they don't cancel their fancy trips lickety-split.
Nota bene: Anthony J. Alfidi does not hold a position in WFC or MS.
