Jamie Dimon: We Got Bear On The Cheap

Author:
Updated:
Original:

In a few minutes from now CNBC senior soppressata correspondent Charlie Gasparino will reveal on air that JPMorgan Chase's top investment banking executives yesterday said that their acquisition of Bear Stearns was worth far more than the $10 a share price they paid. At a meeting held in JPMorgan's large cafeteria, attended by about 1,000 employees, top executives with the megabank also said there will likely be additional layoffs.
Oh, and hey. If there's ever a meeting in a bank with a thousand people attending and no one tells us about it, you people are going to be in a lot of trouble.
Update: Remember that rumor that notorious penny pincher cost cutter Jamie Dimon ordered that hamburgers in the cafeteria at JP Morgan be made smaller. Well, yesterday he denied that he shrunk the burgers. Kind of. Immediately after his denial he admitted he liked the idea. "If I had thought about it, I would have done it," Dimon said according to Gasparino's report.
JPMorgan CEO: We Got Bear Stearns on the Cheap [CNBC]

Related