Sunday, March 16, 2008

What is his Golden Parachute Worth?

JPMorgan Chase is set to purchase Bear Sterns for 2 bucks a pop. The soon to be ex-CEO of Bear has this to say.

Bear Stearns shares closed Friday at $30 a share. At their peak, the shares
traded at $159.36. "The past week has been an incredibly difficult time for
Bear Stearns," said Bear Stearns Chief Executive Alan Schwartz in a statement.
"This represents the best outcome for all of our constituencies based upon the
current circumstances."
I seriously wonder how this "best outcome" impacts his personal financial situation, i.e., how golden is his parahute?!!
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