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First Bear Stearn -- Now Lehman Bros.
06-12-2008, 03:35 PM
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#1
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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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First Bear Stearn -- Now Lehman Bros.
Is LB the next one to fall?
The jerks that were canned will probably be hired by another firm fairly quickly. However, they do not deserve to work in the industry again.
Lehman Brothers removes finance, operating chiefs: Financial News - Yahoo! Finance
Oh... the CEO should be canned also. But somehow he canned the others and is hanging on so far.
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06-12-2008, 03:56 PM
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#2
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Thinks s/he gets paid by the post
Join Date: Feb 2006
Posts: 1,183
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I hope not. At least not until I get my 10% ROI on stock I bought while I was flopped on the couch this afternoon! Not to worry this is just a tiny portion of the portfolio.
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06-12-2008, 04:20 PM
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#3
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 45,449
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From the article,
 Quote:
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And while Lehman might have bought itself some more time by shaking up its top ranks, the question remains how much it has left.
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Doesn't sound good!! I am shocked. (But then, I am easily shocked.) 
__________________
Happily retired since 2009, at age 61.
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06-12-2008, 07:18 PM
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#4
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Thinks s/he gets paid by the post
Join Date: Aug 2007
Posts: 1,224
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Quote:
Originally Posted by chinaco
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The CFO took on that role sept 07. She is a scapegoat, nothing more. I agree the CEO is the one ultimately responsible. I get the sense he is hoping that a few scapegoats will deflect attention from him.
DD
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06-13-2008, 01:59 AM
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#5
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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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Fuld should go... soon.
He shouldn't expect the reward of holding on to his extremely lucrative job if he ruins the company.
The board should can him... Investors should be outraged.
Dick Fuld's strategy has Lehman fighting for its life - MarketWatch
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06-13-2008, 03:38 AM
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#6
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Recycles dryer sheets
Join Date: Jul 2007
Location: East Bay CA/Long Island NY
Posts: 167
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It's dejavu all over again.
Jimmy C made his right hand man Warren S walk the plank right as the perfect storm hit BS. Dick Fuld will do all that he can to save skin but it's an exercise in futility. I truly feel sorry for the 28k employees at Lehman, what they are going thru is something I wouldn't wish upon anyone.
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06-13-2008, 06:02 AM
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#7
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Recycles dryer sheets
Join Date: Aug 2007
Posts: 433
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There are going to be a number of these big guys folding.
Just stay tuned.
If you approach it like, oh, say sports, it gets more interesting. Maybe even place some bets if you're a wagering sort of citizen.
Or maybe you can see these coming collapses as a series of modern-themed medieval morality plays in the offing. Some of the players will appears as Sloth, others Greed.
Lust is a personal favorite.
Do not be a "gloomy gus". Enjoy!!!
__________________
Consult with only myself as your adviser or representative. My thoughts should be construed as investment advice of the highest caliber. Past performance is but a pale shadow and guarantee of even greater results in the future.
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06-13-2008, 07:37 PM
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#8
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Recycles dryer sheets
Join Date: Jul 2007
Location: East Bay CA/Long Island NY
Posts: 167
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Barbarus, this isn't just sport for those that are in the thick of things. It's a blood sport and there are real casualties everywhere.
The only morality play that I can think of is Medea in terms of brutality and horror.
I've seen people's life savings go Poof! and grown men and women cry....and we're just getting started, as you rightly surmised.
Hope you stay dry out there during this flood season.
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