Dick Fuld: Eroded Investor Confidence? Diluted Shareholder Value? Constant Harping On What We're Doing Wrong By That Twit, David Einhorn? No Biggie. Ugly Green Suit? GET THE HELL OUT OF MY OFFICE.

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Many of you got your panties in a twist yesterday over that fact that Lehman Brothers CFO Erin Callan "stands out" by wearing designer clothes, has a personal shopper and just generally doesn't look like a slob when she comes into the office, because it means she's not "focused." (If she wore unattractive pantsuits and had cookie crumbs running down her shirt, the climate at LEH would be markedly different than it is today. It'd practically be Goldman!* Erin says she wants everyone to stop comparing the Brothers to Bear, but at least sartorially speaking, they're looking pretty similar, considering that on the days he made it into the office, Jimmy Cayne was known to wear micro-minis, pearl thongs, and stilettos that could take an eye out, which BSC chronicler Charlie Gasparino believes was a major factor in the firm's demise.)
But apparently, Callan's focus on fashion isn't so much a "chick thing," or a sign that she doesn't have what it takes to hack it than it is a requirement of the job, lest she be taken to task by clotheshorse Dick Fuld who, on the DL, is placing calls 'round the clock in the hopes of landing a guest spot on the next season of Project Runway.
*Kidding, of course, though it's pretty well-known that the secret to GS's success = shlubbs.

On Saturday, Joseph M. Gregory, Lehman's president and chief operating officer, arrived at the office in an unfashionable green suit.
"What are you wearing?" Mr. Fuld bellowed.
Mr. Fuld then marched Mr. Gregory from office to office on the 31st floor to show off the outfit. "It was an attempt to make people laugh," one Lehman executive said.

Let this be a warning to all you Little Lehmans whose jobs are on the line.
Lehman Posts Loss and Plans to Raise Capital [NYT]

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