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Alan Schwartz
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Life after Bear Stearns
Alan Schwartz took over Bear Stearns once it became clear that Jimmy Cayne--then one of Wall Street's Grand Old Men--could no longer command enough respect to revive the firm. Schwartz's very short tenure was marked by controversy, as he helped engineer a buyout that allowed JPMorgan Chase to buy
Why Goldman Sachs couldn't save Bear Stearns
"Street Fighters," by Kate Kelly, erstwhile reporter for the Wall Street Journal , is generating some buzz in the industry. The book chronicles the 72-hours leading up to the shotgun marriage of Bear Stearns and JPMorgan Chase.
The New York Post offers one interesting episode from the b
Ex-Bear Stearns CEO to join Goldman Sachs
Alan Schwartz had the misfortune of becoming CEO of Bear Stearns two months before it collapsed. Certainly, given the controversy over what he should or shouldn't have done to get more value for shareholders, it looked like his career was in shambles. But now he looks like he'll end up just fine.
Why not blame Goldman Sachs?
The issue of the moment is Goldman Sachs and what its London-based traders did, if anything, that might be construed as manipulation of Lehman Brothers' and Bear Stearns' stocks. That people are going to the media with this indicates a lot of anger. You can bet the regulators have gotten, or w
Can Wall Street firms be believed?
Forbes magazine notes that there's a lot of flip-flopping occurring on Wall Street right now. The magazine points out that there are many instances of this. For example, after raising $6 billion in January, Merrill Lynch said it was done; then in April, it raised another $9.6 billion. Le
End of an era: Bear Stearns passes away
What can you say in Bear Stearns' obituary that hasn't already been said before. This three-part Wall Street Journal article pretty much said it all as far as a lot of people are concerned. There were deals that could have been struck--perhaps one with Kohlberg Kravis Roberts--and opportunitie
ALSO NOTED: Deal news; Will Bear Stearns CEO Alan Schwartz take job at JP Morgan; Goldman Sachs offloads some debt; and much mo
Company News:
> S&P lowers Wachovia outlook. Article
> Fitch, Moody's affirm Wachovia. Article
> J.C. Flowers will not boost bid for Friends. Article
> Bear Stearns to take impairment charges. Article
> Wachovia CEO defends capital raising plans.
10 days that shook Wall Street
The implosion of Bear Stearns was nothing if not stunning for its sheer speed. Fortune offers an interesting reconstruction of the final 10 days. It still amazes me how the bank could go from not commenting on rumors to a deal for $2 a share in so little time. The fall was aided by a Gold
Bear Stearns board getting a pass?
There was a great deal of anger before JP Morgan offered to redo its deal for Bear Stearns . The outrage over the $2 a share initial deal was powerful. The anger was spread over lots of players--CEO Alan Schwartz, Jamie Dimon, and faceless rumor-mongers--but we didn't hear a lot about the boar
Bear Stearns execs cashed out in December
One of the challenges of being a top executive is cashing out of large holdings of stock. Most insider sales are done on strict schedules with much vetting by the board. You cannot blame execs for wanting to diversify a bit. But there are moments when the timing makes for a PR problem. Not that a
