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.
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2 comments:

  1. Maria Marsala3/24/2008 12:36:00 AM

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  2. Maria Marsala3/24/2008 12:40:00 AM

    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

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