tag:blogger.com,1999:blog-27589090.post5089624859154302188..comments2024-03-08T06:19:25.025-05:00Comments on 1 Happy St: Where was Bud Fox when all this went down?The 1 Happy St. Staffhttp://www.blogger.com/profile/00064984176758579727noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-27589090.post-448892526541876582008-03-18T13:08:00.000-04:002008-03-18T13:08:00.000-04:00JP Morgan is David Rockefeller who belongs to The ...JP Morgan is David Rockefeller who belongs to The Bilderberg Group = http://youtube.com/watch?v=I-15EjHCzdsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-27589090.post-10039136182033679612008-03-18T00:09:00.000-04:002008-03-18T00:09:00.000-04:00The really insane thing about this whole story to ...The really insane thing about this whole story to me is that 14 months ago Bear was trading at over $150 a share. Last Friday it was down to $30/share, and on Sunday they agreed to be bought for an all-stock deal at $2/share, equivalent to about $236million. Now, the actual cost to JP is going to be a much higher multitude of that considering the costs of merging operations and workforce downsizing, but the insane thing is that Bear’s Madison Avenue headquarters, recently completed by the famous (if not particularly adventerous) firm Skidmore, Owings, & Merill, is worth approximately $1.2 billion, which presumably will now be in the hands of JP Morgan. I think that just goes to show you how scary the liabilities that Bear has on its books must be, for such a discount to be paid. Hopefully JP can use the trading floors in that building so they don’t have to build a shadow-inducing cantilever at their Ground Zero site.Anonymousnoreply@blogger.com