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I pulled into my parking garage last night around 11:30 and saw a husband and wife in the spot next to me unloading boxes from their car. Curious, I asked if they just moved into the building, and the wife said "no, these boxes are from our offices at Lehman". The look on their faces was of sadness and shock so I said I was sorry for their loss and asked them what their next plan was and they said "no idea, who wants to hire 2 people from a collapsed investment firm?"
I was wondering if anyone on here is part of the Lehman meltdown, and if so, what is the next step for you? Truly a great loss, with 25,000 jobs in NYC about to be eliminated soon.
It is a great loss.
One of my biggest clients is Merrill and I'm worrying about how the buyout by Bank of America of Merrill Lynch will affect us...we do digital and print on demand for the financials...I know Merrill has been downsizing..some people I've dealt with for years are there one day and gone the next..
It is a great loss.
One of my biggest clients is Merrill and I'm worrying about how the buyout by Bank of America of Merrill Lynch will affect us...we do digital and print on demand for the financials...I know Merrill has been downsizing..some people I've dealt with for years are there one day and gone the next..
It's a domino effect, this one is going to hurt badly, Bear Stearns, Fannie Mae, Freddie Mac, WaMu, Merrill Lynch, Lehman Bros., the list is just beginning.
Kate, you wouldn't happen to work for eSA (Sandy Alexander) would you?
Corzine was on saying how this is going to hurt North Jersey terribly.
Whoever is the next POTUS is going to have a huge mess to clean up, but I will agree it was best that the Fed didn't come in to the rescue. Risky real estate dealings while the market was out of control and no backup plan did Lehman in.
Corzine was on saying how this is going to hurt North Jersey terribly.
Whoever is the next POTUS is going to have a huge mess to clean up, but I will agree it was best that the Fed didn't come in to the rescue. Risky real estate dealings while the market was out of control and no backup plan did Lehman in.
Hard lesson learned.
Agreed, the Fed set a dangerous precedent by bailing out Bear. I imagine it is going to be very difficult to do, but they need to just let Lehman fall. If they dont they will soon promote risky and irresponsible behavior by showing that you can screw up and the Fed will save you...
Which, by the by will only hurt America's international economic standing in the long run.
[quote=Alex07860;5272750]It's a domino effect, this one is going to hurt badly, Bear Stearns, Fannie Mae, Freddie Mac, WaMu, Merrill Lynch, Lehman Bros., the list is just beginning.
Kate, you wouldn't happen to work for eSA (Sandy Alexander) would you?[/QUOTE]
Kate- I hope that everything works out ok with your job.
I am sorry for anyone that is affected by this.
Thanks Nic, I'm sure for the time being everything will remain the same until BOA decides their course of action....
Last week the one gal I've dealt with at Merrill, just had a conference call with her,next day I had an email as part of Merrill's downsizing & cost cuting she was no longer there..still don't know who my new contact is....it's bad all over..people much worse off then I would be if I lose my job
I'm watching that BofA/ML merger press conference, and it sickens me that these fat cat CEO's are all smiles and chummy when thousands of people are looking at pink slips.
I'm watching that BofA/ML merger press conference, and it sickens me that these fat cat CEO's are all smiles and chummy when thousands of people are looking at pink slips.
Sickening.
I know Hoboken..it makes me want to throw someting at the tv screen and between Merrill & BOA you know thousands will be losing their jobs, think I heard Merrill has 60,000 employees
From what I've heard BOA off shores a lot of their support services...I just don't like a bank getting this big
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