Monday, March 17, 2008

Bear Stearns Collapse: Who Gets Screwed? (Besides the Taxpayers) The Employees


I just heard on CNBC that Bear Stearns' 14,000 employees owned 1/3 of its stock. Probably part of their 401(k) and pension plans.

Bear Stearns stock was worth $159.36 per share on April 25, 2007.

Today it's worth less than $2 per share.

Atrios estimates that this is an average loss of $375,000 per employee.

2 comments:

Maria Marsala said...
This comment has been removed by the author.
Maria Marsala said...

Boy oh boy.

You are so right ... and not only that... I read an article on Bloomberg.com where Dimon called other brokerage firm's up asked them not to hire Bear's executives.

I had to read it twice. He has them like water mellons. He steals a company, is going to make a mint on it, and now he wants to screw the employees even more?

Give me a break.

Hey, Dimon....

Just in case you didn't know, we all have thr right to work wherever they want -- and you have no right to determine what companies they go work for.

http://www.bloomberg.com/apps/news?pid=20601103&sid=aKai80QCtGXs&refer=us