There was an instance in the commodities industry where it was clear that – although it was promoted as a merger of equals, there was clearly going to be a major personality take over. The commodity industry is generally opaque and I have been told that there was a clear strategy to get rid of the low performing traders. In this situation quite a few people already knew that they were going to be let go. Irrespective of this – no public information was put on how this was all handled. Those who were let go were still in the industry and had to preserve their reputations.