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From $1 billion to $63 million!! Yikes!!!
Old 03-28-2008, 11:42 AM   #1
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From $1 billion to $63 million!! Yikes!!!

I got to wondering how it must feel to Chairman Cayne of Bear, Stears to go from a $1 billion dollars to $63 million dollars. Granted, he won't be missing any meals anytime soon; but, I just wonder how it feels to take that kind of bath in the market? Am I the only one here who is curious about that? (And, please God, do NOT let this happen to my petty ante (compared) amount in the markets.)
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Old 03-28-2008, 11:54 AM   #2
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Peel me a grape.
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Old 03-28-2008, 12:19 PM   #3
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Here's your peel me a grape set to music, too...Peel Me A Grape
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Old 03-28-2008, 01:58 PM   #4
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Another example of the benefits of diversification.
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Old 03-28-2008, 02:58 PM   #5
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as long as he can keep up the golf club membership, bridge tournaments, and pay his pot dealer.. what's the diff?
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Old 03-28-2008, 03:10 PM   #6
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I just like that song Orchid posted
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Old 03-28-2008, 04:06 PM   #7
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That $63M more than he should get. The @$$h0!3 should be sued for incompetence or negligence.
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Old 03-28-2008, 04:30 PM   #8
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Poor BABY!! Only 63 million. Whatever shall he do.
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Old 03-28-2008, 05:23 PM   #9
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This should really make you sick: he cashed out as he and the wifey just bought a place in the New York Plaza Hotel for $26Million. I cannot for the life of me understand spending that kind of money for a place to live when there are so many other ways to spend your money (and do a little good, too)...but that's just me. Maybe I just don't understand the uber rich.

That's Diana Krall singing "Peel Me a Grape." Isn't she great? Yeah!
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Old 03-28-2008, 09:07 PM   #10
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Quote:
Originally Posted by Want2retire View Post
Poor BABY!! Only 63 million. Whatever shall he do.
Learn to LBYM...

DD
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Old 03-29-2008, 09:58 AM   #11
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It's not like he has to make do on a mere $61 million. He knew enough to take cash out along the way:

"Since 2000, Cayne has sold 2.37 million shares worth about $182.7 million, while Schwartz has sold more than one million shares for roughly $67.2 million."

If you add in the cash salary and cash portion of bonuses and the final $61 million, it seems certain that he totaled a quarter billion since 2000.

Bear Stearns execs sold some stock in December, data show - MarketWatch

And, as he was making this money, he (and a few other people like him) appear to have built a system so toxic that we couldn't let his company go through a normal bankruptcy because that would have led to a complete economic meltdown.
(I've expressed some skepticism about the "economic meltdown" prediction, but people who know a lot more about it than I do tell me that really would have happened.)
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