Wendy Brandes Jewelry Blog

Never Is the Next New Thing

Buh-Bye to Lehman Brothers

by

I drove by my old Lehman Brothers office building this week and saw that the giant screens on the outside of the building now display the logo of Barclays, the buyer of bankrupt Lehman’s core businesses.

Photo from the New York Post

I expected this to happen, yet I was still a little sad. I always enjoyed the flashy display screens on our building. (The building is near Times Square and I was told that all buildings in that area are required to have some kind of bright signage to maintain the Times Square atmosphere.) The screens were so bright that, as you were walking out of the building, it looked like it was still daylight even if it was pitch black out. That always cheered me up on dreary winter days.

Meanwhile, Lehman Chairman and CEO Dick Fuld and his wife, Kathy, are putting some of their art collection up for sale. The missus says this has nothing to do with the fact that Lehman shares, which hit a high of $86.18, are now practically worthless. It’s hard to believe that in 2006, Lehman was “super-hot,” isn’t it?

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Reader Interactions

Comments

  2. It is hard to believe. I guess there has to be an end to every era. I’m just glad you got out when you did.

    And I don’t believe for a minute that the Fulds are just coincidentally selling some of that collection. Not for a minute.

  3. Its amazing how everythings going lately-another bank here is on the brink of being nationalised if it doesn’t get bought up. Thank goodness you got out when you did with your shares.

  4. It’s always sad to see an institution evaporate completely like that. I’m glad you got out while the going was still good.

  6. “And I don’t believe for a minute that the Fulds are just coincidentally selling some of that collection. Not for a minute.”

    me too

  12. I don’t know a lot about Lehman Brothers, though it has been on the news in the UK. It is all very sad though.

  13. As other big players have gone down this week I wonder how worse it’s going to get.

    I was fully expecting the interest rate to go down in Australia only a couple of weeks ago but I have to say bye bye to the interest cut due to what happened in the States.

    We all know it’s all global economy what not but I’m really feeling it this time.

    Weren’t these people at the top got massive bonuses and payouts etc last year? or did I hear it wrong??

  14. wow Wendy, as I put a hex on 4 of my last employers, I found it hard to feel anything other than schadenfreude at their eventual demise (3) or re-structuring (1)when the office beeyotch lost her control freak job.
    I hope you got out with your shares. And I hope there will not be too much punishment for the little guy in this big mess?
    xx