| Posted By |
Message |
| Pages: [1] 2 |
Lucky09
2017!
Member since 1/06 7537 total posts
Name:
DW
|
Bear Stearns Buyout by JP Morgan Chase...
Is anyone else completely bewildered by this transaction that occurred yesterday?
I mean last year Bear Stearns stock was valued at over $100 / share. It sold yesterday for just over $2 / share.
Am I the only one who wants to start hiding cash under their mattress in the event that the banks can't present the cash when I want to make a withdrawal?
I am so scared of this economy!
|
Posted 3/17/08 10:44 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
KPtoys
I'm getting old
Member since 5/05 8688 total posts
Name:
Karen
|
Re: Bear Stearns Buyout by JP Morgan Chase...
The whole ecomony is scary!!! I dont want to spend money. I am cutting back on everything from car payments to cable. It's gotta turn around!
Message edited 3/17/2008 10:45:51 AM.
|
| Posted 3/17/08 10:45 AM |
| |
|
IrishMom77
Brothers!!
Member since 8/05 3498 total posts
Name:
Roseann
|
Re: Bear Stearns Buyout by JP Morgan Chase...
At 1 point the stock was $159 (sometime last year)
On Friday the stick was only 39 bucks
DH works for Chase so his branch is buzzing this morning
If Bears Stearns wasnt bought, they would have crashed and burned hard and there would have been alot of financial issues
|
| Posted 3/17/08 10:46 AM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Lucky09
Am I the only one who wants to start hiding cash under their mattress in the event that the banks can't present the cash when I want to make a withdrawal?
I am so scared of this economy!
as long as you put your money in a bank that is FDIC insured, you have nothing to worry about (unless you have more than $100,000 in one bank).
|
| Posted 3/17/08 10:46 AM |
| |
|
MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
|
Re: Bear Stearns Buyout by JP Morgan Chase...
sorry dble post
Message edited 3/17/2008 10:46:59 AM.
|
| Posted 3/17/08 10:46 AM |
| |
|
Lucky09
2017!
Member since 1/06 7537 total posts
Name:
DW
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Meaghan729
Posted by Lucky09
Am I the only one who wants to start hiding cash under their mattress in the event that the banks can't present the cash when I want to make a withdrawal?
I am so scared of this economy!
as long as you put your money in a bank that is FDIC insured, you have nothing to worry about (unless you have more than $100,000 in one bank).
I don't have the $100,000 issue to worry about but thank g0d I am with Chase! 
|
| Posted 3/17/08 10:48 AM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Tigger77
If Bears Stearns wasnt bought, they would have crashed and burned hard and there would have been alot of financial issues
Precisely.
Bear Stearns was having some MAJOR issues. The entire deal with Chase started late last week (at least, I read about it on Friday...) Chase stepping in here is actually probably a good thing...
|
| Posted 3/17/08 10:50 AM |
| |
|
Jessica
I'm a mommy :)
Member since 1/06 7322 total posts
Name:
~Jess~
|
Re: Bear Stearns Buyout by JP Morgan Chase...
so what is the impact of bear employees because of this?
will there be lay offs?
|
| Posted 3/17/08 10:59 AM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Lucky09
Am I the only one who wants to start hiding cash under their mattress in the event that the banks can't present the cash when I want to make a withdrawal?
I am so scared of this economy!
As long as your deposits are FDIC insured you really have nothing to worry about. Of course if you invest in the stock market (or in Bear Stearns stock) that's another story.
I place a good chunk of my money in a bank that is in deep financial trouble (Countrywide). Since they are in trouble, they give out excellent interest rates. I know my money is safe because it's FDIC insured.
|
| Posted 3/17/08 11:02 AM |
| |
|
Lisa
I'm a PANK!!!
Member since 5/05 22334 total posts
Name:
Professional Aunts No Kids
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Jessica
so what is the impact of bear employees because of this?
will there be lay offs?
Most likely both companies will look at their "like" business units and decide who they need to keep and who needs to go due to doubling up on the jobs....
|
| Posted 3/17/08 11:02 AM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Meaghan729
as long as you put your money in a bank that is FDIC insured, you have nothing to worry about (unless you have more than $100,000 in one bank).
FDIC also includes:
200k for joint accounts
100k per POD (payable on death) - so if you have kids regardless of age put them on the account and you gain additional FDIC.
|
| Posted 3/17/08 11:03 AM |
| |
|
Jessica
I'm a mommy :)
Member since 1/06 7322 total posts
Name:
~Jess~
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Lisa
Posted by Jessica
so what is the impact of bear employees because of this?
will there be lay offs?
Most likely both companies will look at their "like" business units and decide who they need to keep and who needs to go due to doubling up on the jobs....
yes that is what i thought
thanks
|
| Posted 3/17/08 11:04 AM |
| |
|
karacg
Babygirl is 4!
Member since 5/05 17076 total posts
Name:
Kara®
|
Re: Bear Stearns Buyout by JP Morgan Chase...
DH's company is owned by Bear Sterns - well now by JPMorgan Chase - but he doesn't seem to think it will affect him.
I am hoping it doesn't - we need his paycheck!!
Maybe these financial institutions need to cut back on their insane end-of-year bonuses and Executive salaries and perks....hmmm now there's a thought....
|
| Posted 3/17/08 11:09 AM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Bear Stearns Buyout by JP Morgan Chase...
all of the banks are looking at their credit exposure right now. This is going to be a rough day all around the financial markets.
|
| Posted 3/17/08 11:11 AM |
| |
|
Bxgell2
Perfection
Member since 5/05 16438 total posts
Name:
Beth
|
Re: Bear Stearns Buyout by JP Morgan Chase...
The effect is trickling. I've been reading about substantial layoffs in law firms in Philadelphia - primarily in their mortgage/credit departments. Associates are taking the brunt of the hits.
We're just starting to see the effects of the real estate market fallout.
Message edited 3/17/2008 11:21:14 AM.
|
| Posted 3/17/08 11:20 AM |
| |
|
CathyB
Member since 5/05 19403 total posts
Name:
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Lucky09
Is anyone else completely bewildered by this transaction that occurred yesterday?
I mean last year Bear Stearns stock was valued at over $100 / share. It sold yesterday for just over $2 / share.
Am I the only one who wants to start hiding cash under their mattress in the event that the banks can't present the cash when I want to make a withdrawal?
I am so scared of this economy!
Nope, they had a lot of sub-prime exposure and were hit hard with the collapse of that market. There are other banks that are in a bad position due to the collapse of the sub-prime market as well.
These banks didn't give out big bonuses this year, my aunt works for a very senior executive of another investment bank that looks like it may go under very soon and I know for a fact that bonuses and salary increases were few and far between.
|
| Posted 3/17/08 11:24 AM |
| |
|
PaddysGirl
Little princess is here!
Member since 4/07 5923 total posts
Name:
Crystal
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by karacg
DH's company is owned by Bear Sterns - well now by JPMorgan Chase - but he doesn't seem to think it will affect him.
I am hoping it doesn't - we need his paycheck!!
Maybe these financial institutions need to cut back on their insane end-of-year bonuses and Executive salaries and perks....hmmm now there's a thought....
As an employee of a financial institution that is in some hardship right now also I couldn't agree with this more.
Although it is not 100% of the downfall obviously, it is a contribution factor. Not to mention a morale killer. Us "regular" employees get shafted when the top people get insane cash and perks yet our stock is on a downward spiral!
|
| Posted 3/17/08 11:32 AM |
| |
|
Goobster
:)
Member since 5/07 27557 total posts
Name:
:)
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by ave1024
Posted by Meaghan729
as long as you put your money in a bank that is FDIC insured, you have nothing to worry about (unless you have more than $100,000 in one bank).
FDIC also includes:
200k for joint accounts
100k per POD (payable on death) - so if you have kids regardless of age put them on the account and you gain additional FDIC.
Exactly. My dad has all his accts in trust for us, so he has additional FDIC coverage based on those trust accts in one bank.
Message edited 3/17/2008 11:59:55 AM.
|
| Posted 3/17/08 11:36 AM |
| |
|
KPtoys
I'm getting old
Member since 5/05 8688 total posts
Name:
Karen
|
Re: Bear Stearns Buyout by JP Morgan Chase...
The Fed scares me. Are they just going to print more money if the banks have to come up with it if their clients want it back? arent they just printing more money now as a bail out?
|
| Posted 3/17/08 12:07 PM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: Bear Stearns Buyout by JP Morgan Chase...
I am extremely nervous about the state of financial institutions.
I'm nervous about my job for the first time in a number of years.
I have no reason to believe I'm in danger, but I don't like this uncertainty..especially since DH's job is not so great right now and I've been helping my family.
|
| Posted 3/17/08 12:11 PM |
| |
|
dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
|
Re: Bear Stearns Buyout by JP Morgan Chase...
I saw on the news this morning that they expect thousands of layoffs for BS. I have a friend who has worked there for many years who is sure she will be out of a job very soon.
|
| Posted 3/17/08 1:01 PM |
| |
|
vegalady
Love my family
Member since 6/06 4546 total posts
Name:
SNV
|
Re: Bear Stearns Buyout by JP Morgan Chase...
this economy is becoming very very scary. DH is very nervous about it and so am I. We are going to have to stash money.
|
| Posted 3/17/08 1:11 PM |
| |
|
smdl
I love Gary too..on a plate!
Member since 5/06 32461 total posts
Name:
me
|
Re: Bear Stearns Buyout by JP Morgan Chase...
DH works for them so..... we are VERY aware of the situation.
Right now, every reported to work this morning.
They will cut a SIGNIFANT amount of employees.
To compare what happened to Bear Stearns stock is comparing to Emron. EVERYBODY lost the value of their ESOP (Employee Stock Ownership) since it was purchased at $2 but actually on the market for a bit over $4. Glad we did not bank on that for our retirement.
They knew something was going on last week because the stock went from about $57 to $30.
JP Morgan Chase leant money to Bear last week but now is buying. It all happen since last Friday and over the weekend. Everybody was calling everybody at home with other employees. Lots of people lost their retirement.
Apparently the stock holders of Bear are fighting the purchase.
I am trying NOT to stress out. 
Message edited 3/17/2008 1:57:55 PM.
|
| Posted 3/17/08 1:56 PM |
| |
|
Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
|
Re: Bear Stearns Buyout by JP Morgan Chase...
I have a friend at bear.
that's what scares me the most- the people working there that had the bulk of their retirement monies in Bear stocks-- now they'll have nothing!
|
| Posted 3/17/08 2:02 PM |
| |
|
MrsM-6-7-08
<3
Member since 8/06 4249 total posts
Name:
Nicole
|
Re: Bear Stearns Buyout by JP Morgan Chase...
Posted by Sassyz75
I have a friend at bear.
that's what scares me the most- the people working there that had the bulk of their retirement monies in Bear stocks-- now they'll have nothing!
That is so upsetting
|
| Posted 3/17/08 2:15 PM |
| |
|
| Pages: [1] 2 |
