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From $1 billion to $63 million!! Yikes!!!
03-28-2008, 10:42 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Mar 2007
Posts: 3,323
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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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Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
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03-28-2008, 10:54 AM
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#2
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Moderator
Join Date: Dec 2007
Location: Eastern WV Panhandle
Posts: 25,340
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Peel me a grape.
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When I was a kid I wanted to be older. This is not what I expected.
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03-28-2008, 11:19 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Mar 2007
Posts: 3,323
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Here's your peel me a grape set to music, too... Peel Me A Grape
__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
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03-28-2008, 12:58 PM
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#4
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Full time employment: Posting here.
Join Date: Oct 2007
Posts: 642
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Another example of the benefits of diversification.
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"Making deliberate choices about how to spend your money and your time is the essence of making the most of your life energy." -Bill Perkins, Die With Zero
"I've traded love for pennies, sold my soul for less" -Jim Croce, Age
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03-28-2008, 01:58 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 2,713
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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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03-28-2008, 02:10 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Dec 2007
Posts: 4,764
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I just like that song Orchid posted 
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03-28-2008, 03:06 PM
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#7
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2007
Posts: 5,072
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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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03-28-2008, 03:30 PM
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#8
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jan 2007
Location: New Orleans
Posts: 47,500
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Poor BABY!! Only 63 million. Whatever shall he do. 
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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03-28-2008, 04:23 PM
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#9
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Thinks s/he gets paid by the post
Join Date: Mar 2007
Posts: 3,323
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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!
__________________
Please consider adopting a rescue animal. So very many need a furr-ever home and someone to love them! And if we all spay/neuter our pets there won't be an overpopulation to put to death.
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03-28-2008, 08:07 PM
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#10
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 1,224
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03-29-2008, 08:58 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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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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