Tuesday, March 18, 2008
LANDON THOMAS JR and KATE HAMMER, The New York Times,
LANDON THOMAS JR and KATE HAMMER, The New York Times,
Aftershocks of a Collapse at Bear Stearns
Bear Stearns sell out to JPMorgan Chase for a mere $236 million. How could Bear have sold for such a price? The sudden collapse of Bear was unfathomable.
More so than other firms on Wall Street, Bear had encouraged its employees, from secretaries to top executives, to be long-term holders in the company's stock, and the employees own over 30 percent of the company.
Now they are all screwed. Except for the Board of Directors, the CEO, and top executives.
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Posted by Editor on 03/18/08 at 05:19 PM •
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