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Oct 09th

In 'Mad Men' style, drunk broker made gas prices higher in 2009

laptop021811_optBY PAM LOBLEY
NEWJERSEYNEWSROOM.COM
NOW THAT’S FUNNY

In 2009, a broker who was reportedly drunk on the job drove up oil prices in a frenzy of woozy trading. The broker, Steve Perkins, worked at PVM Oil Futures in London, reports the Digital Journal. His liquored-up trades on oil futures overnight on June 30, 2009 sent global crude prices from $71.40 to $73.05 in just two hours. By the time he was stopped, he had wreaked havoc on the market and his company had lost nearly $10 million.

Don’t we have computers to screw up our trades now? I thought wild, erratic brokers had been replaced by wild, erratic technology.

The next day, Mr. Perkins had no memory of the trades. He did, however, remember the tart and tangy Grey Goose Gimlets. At least, the first five of them.

Mr. Perkins was fined $116,878 and banned from trading for five years. That should be enough time to dry out. But why was he drinking on the job? Is there pressure to drink at work?

A blog on The New York Times site reveals that pressure to drink on the job did not go out of fashion with “Mad Men.”

Pressure to imbibe at business dinners or client lunches pervades all industries, and research supports that moderate drinkers earn more than those that don’t drink at all. There’s the general feeling that non-drinkers can’t be trusted.

I always want to drink when I’m working, because I work at home and the kids drive me crazy!

Seriously, even the President feels the heat. On the campaign trail he has frequently been sharing beers with the populace as he solicits votes from state to state. He even offered some of his home brew to a fellow in Iowa. After considerable interest from people about his homemade beer, the White House posted some of the brew recipes online, and you can find them here. Beer drinking is popular, and clearly, the President is using it to try to cultivate his image as a likable, approachable guy.

Drinking with associates can prove you’re an amiable team player -- flexible and easy to work with. Plus, it seems like it would be so fun. I like a cocktail as much the next gal, and drinking at work sounds like a great way to get through the boring or stressful parts of the day. However, after my second one I know I would end up face down in a nap, and that would not be good for business.

I don’t know how people drink in the middle of the day, or throw back a bunch of drinks at night, and still do well at work. Clearly, Steve Perkins couldn’t handle his liquor. I’m sure many other people out there are screwing up their jobs with booze. In fact, I bet Congress is drinking: they’re never at work - and when they are they can’t get anything done.

Pam Lobley writes the “Now That’s Funny” column. Check out her blog: Better Living Through Chaos! Follow her on Twitter @plobley.

RECENT COLUMNS BY PAM LOBLEY  


 

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