Monday, April 07, 2008
The Last Worthwhile Part of the Old Firm is to be Destroyed
by Ken Houghton
These are the workers one would see every day, working hard and getting their jobs done. Many of them long predate my first time there, in the early 1990s.
And none of them ever made thousands or millions or even billions of dollars of shareholder value go away.
Stick a fork in it; one way or another, Bear Stearns is gone.
Even Jimmy Cayne didn't screw this one up, but Jamie Dimon plans to ruin the one Unarguably Good Thing they did:
JPMorgan Chase...wants to dismantle the firm's jobs program for people with disabilities, according to sources familiar with the matter.
That means about 40 Bear workers with disabilities who were given jobs at the firm over the years will likely be laid off.
These are the workers one would see every day, working hard and getting their jobs done. Many of them long predate my first time there, in the early 1990s.
And none of them ever made thousands or millions or even billions of dollars of shareholder value go away.
Stick a fork in it; one way or another, Bear Stearns is gone.
Labels: The New Gilded Age, The Old Firm
