The people familiar with the matter have spoken once more, which can only mean one thing: another Wall Street chief is headed for the executioners block. The Wall Street Journal’s Kate Kelly is reporting that Jimmy Cayne has started notifying to board Bear Stearns that he plans to give up the CEO desk while remaining chairman. Alan Schwartz is expected take over.
More tomorrow morning.
Bear CEO Expected to Step Down But Remain in Chairman Post [Wall Street Journal]
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Good riddance!
told you that story….good hustle carney– nothing drives me more crazy then when you kids dont start posting til about 10:30– we’ve been in for hourse at that point…i like that the story is up and running for tmrw…u guyd have a field day w this— those frigs cant read the site.
told you that story….good hustle carney– nothing drives me more crazy then when you kids dont start posting til about 10:30– we’ve been in for hourse at that point…i like that the story is up and running for tmrw…u guyd have a field day w this— those frigs cant read the site.
is totally plastered— sorry guys for the errors…u get the story, right??? and if you’re going to comment about my errors, despite me acknowledging them, then pls throw yourself over a bridge and bring someone special with you
Glad i’m not the only one who’s been drinking 2nite ahaha oh and god bless xanax, butt thats neither here-nor-there, butt I mean come on when you’re flying domestic airlines is there any other way, honestly?
I think it is time for DealBreaker to shut down. You’ve successfully sacked a CEO at a major (?) IB. What else is there to do from here?
Carney, enjoyed the stories. Beth, you are an inigma wrapped in my dreams.
yea, i was popping xanies and thought i had hit the point of hallucination when i heard about Big Daddy Cayne…bess has been playing in the snow all morning to get ready for furious Bear postings.
“acquired a reputation as a hands-off manager”… lol
mazel tov!
What A-man Said. Was there anyone in the Western Hemisphere who thought he was in any way hands-on manager even before last summer??
I predict that next Mistah Cayne will be found in bed with either a dead hooker or a live boy.
Is anyone here raising Cayne?
Maybe it’s a lesson to stay off the grass when managing a company.
@ken – i’m not really sure most people had any idea what big daddy cayne or any of these other cast of characters were up to or even who they were until it became front page news
Anonymous, 9:18, you really need to layoff the Xanax, or whatever else you are on if you believe DB is Cayne’s downfall. Please, even the Journal shouldn’t pat itself on the back for it. His fall was his own making, and it was inevitable that shareholders would ultimately force action.
Of course, there is still a chance its all wrong considering he still hasn’t stepped down.
BTW, 9:18, I do agree with you on Dealbreaker shutting down, but for totally different reasons.
cause they’re more popular than whatever 2-bit local paper you work at, bizreporter?