{"id":827,"date":"2008-09-14T22:20:00","date_gmt":"2008-09-15T05:20:00","guid":{"rendered":"http:\/\/wendybrandes.com\/blog\/?p=827"},"modified":"2008-09-14T22:20:00","modified_gmt":"2008-09-15T05:20:00","slug":"in-news-lehman-brothers","status":"publish","type":"post","link":"https:\/\/www.wendybrandes.com\/blog\/2008\/09\/in-news-lehman-brothers\/","title":{"rendered":"In the News: Lehman Brothers"},"content":{"rendered":"<p>Lehman Brothers, the investment bank, <a href=\"http:\/\/www.cnbc.com\/id\/26708143\">filed for bankruptcy protection<\/a>. I worked at Lehman from 2000 to 2005. In the past, when people asked me about my work history, I used to say that I worked at &#8220;the Wall Street Journal, CNN, People Magazine and an investment bank&#8221; because no one except people in the financial industry knew what Lehman was. Well, that problem has been solved.<\/p>\n<div style=\"text-align: center;\"><span style=\"font-size:85%;\"><span style=\"font-style: italic;\"> <\/span><span style=\"font-style: italic;\">The hideous photo from my Lehman ID that was here has been removed.<br \/>It was turning people to stone and their loved ones complained.<\/p>\n<p><\/span><\/span><\/div>\n<p>I must thank the <a href=\"http:\/\/wbjewelry.blogspot.com\/2008\/03\/record-high-still-means-record-high.html\">high price of gold<\/a> for saving my shareholding ass. I produced so much new inventory last year, and it was so expensive to make, that I had to sell my Lehman stock to finance it. I sold in the high 70s. The stock was at $3.66 a share when I wrote this post. I feel terrible for people who didn&#8217;t or couldn&#8217;t sell their stock in time and for the people who are going to lose their jobs.  I&#8217;m not terribly surprised at what has happened, though. Another ex-Lehman employee I&#8217;m in touch with neatly summed up the cause in one word: &#8220;<a href=\"http:\/\/www.merriam-webster.com\/dictionary\/hubris\">Hubris<\/a>.&#8221;<\/p>\n<div style=\"text-align: center;\"><a onblur=\"try {parent.deselectBloggerImageGracefully();} catch(e) {}\" href=\"http:\/\/images.businessweek.com\/ss\/06\/08\/personalbest_list\/source\/3.htm\"><img decoding=\"async\" style=\"margin: 0px auto 10px; display: block; text-align: center; cursor: pointer;\" src=\"http:\/\/1.bp.blogspot.com\/_gTmdbGeiE-E\/SM3W3DSRV-I\/AAAAAAAAEcI\/f7r29M5mOvA\/s200\/fuld.jpg\" alt=\"\" id=\"BLOGGER_PHOTO_ID_5246085382219585506\" border=\"0\" \/><\/a><span style=\"font-size:85%;\"><span style=\"font-style: italic;\">Lehman <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/e5f99648-8285-11dd-a019-000077b07658.html\">Chairman and CEO<\/a> <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/6168c7f6-828e-11dd-a019-000077b07658.html\">Dick Fuld<\/a><\/span><\/span><\/div>\n<p> <\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lehman Brothers, the investment bank, filed for bankruptcy protection. I worked at Lehman from 2000 to 2005. In the past, when people asked me about my work history, I used to say that I worked at &#8220;the Wall Street Journal, CNN, People Magazine and an investment bank&#8221; because no one except people in the financial&#8230;<\/p>\n<p><a class=\"more-link\" href=\"https:\/\/www.wendybrandes.com\/blog\/2008\/09\/in-news-lehman-brothers\/\">Read More &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[25,49],"tags":[],"class_list":{"0":"post-827","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business","7":"category-in-the-news","8":"entry"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/posts\/827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/comments?post=827"}],"version-history":[{"count":0,"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/posts\/827\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/media?parent=827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/categories?post=827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.wendybrandes.com\/blog\/wp-json\/wp\/v2\/tags?post=827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}