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Bear Stearns provides investment banking and brokerage services to a worldwide client base. Established in 1926, Bear Stearns was entered into a merger agreement with JP Morgan Chase, by the federal reserve in March, 2008.
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Fast Facts:
- Stock symbol: BSC, NYSE
- Annual revenue (2007): 16.151 billion U.S.
- Founders: Joseph Bear, Robert Stearns, and Harold Mayer
- Year Established: 1923
- Industry: Banking
- Phone: 1-212-272-2000
- Fax: 1-212-272-4785
- HQ: New York City
- President and CEO: Alan D. Schwartz
- CFO: Samuel L. Molinaro Jr.
- Staff: 13,834
- Other key people: James E. Cayne, Chairman of the Board
- 1929: Survived stock market crash without laying off employees
- 1985: Went public
- 2005-07: "Most Admired Securities Firm" (Forbes)
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Merger with JPMorgan
Between June and August 2007, the firm attempted to engineer a bailout of $3.2 billion of debt holdings after its hedge funds collapsed. The attempt proved unsuccessful, and led to controversy and arbitration claims against the company. On March 14, 2008, with its stock price at $30 a share, the firm sought emergency financing to stave off insolvency, and on March 16, agreed to be purchased by JP Morgan Chase for $236 million, or $2 a share. Less than a year earlier, Bear Stearns' stock traded at $150 a share. -
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Bear Stearns Questions
Why was Bears Stearns forced to merge with JP Morgan Chase? 1 Answerbecause it would have otherwise filed for bankruptcy which forced it to merge because otherwise the firm would have ceased to operate...they were a top 10 playe... read more
What is a bear rally? 2 AnswersWe are currently in a bear market rally, also know as a dead-cat bounce. The market has lost 25% since the start of the year, it's wildly oversold, and as a re... read more
Who is Ted Nelson, and why should you read his book "Geeks Bearing Gifts"? 1 AnswerBased on these two reviews it sounds like one may want to borrow it from the library before buying. One love one hate. http://www.amazon.com/Geeks-Bearing-Gift... read more
How far can a grizzly bear leap? 3 AnswersI don't think it fully leaps into the air (all four legs off the ground) but even has a pouncing distance of one of two feet, you need to remember that these be... read more
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Bear Stearns March 2008 Stock Decline
- The Observer: Bear Stearns to axe 8,000 staff (March 23, 2008)
- ABC News: Paulson Defends Bailout as 'Right Decision' (March 16, 2008)
- When asked if the Bear Stearns loan goes against the administration's consistent refusal to use tax dollars to bail out financial institutions, Paulson said, "We're very aware of moral hazard. But our primary concern right now. . .is the stability of our financial system."
- Forbes.com: JPMorgan says it is would buy ailing Bear Stearns for $2 a share (March 16, 2008)
{{:Bear Stearns Drop}}
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Bear Stearns Competitors
- Bank of America: Official Site | Hoovers
- Citigroup: Official Site | Hoovers
- U.S. Bancorp: Official Site | Hoovers
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On Twitter Powered by Twitter
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Bear Stearns, Lehman Execs Kept Billions . . . http://bit.ly/5h0Dji
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Bear Stearns, Lehman Execs Kept Billions . . .: Everyone knows that senior execs at Bear Stearns and Lehman Bro.. http://bit.ly/08heldl
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Bear Stearns, Lehman Execs Kept Billions . . .: Everyone knows that senior execs at Bear Stearns and Lehman Bro.. http://bit.ly/08heldl
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Free the Bear Stearns Two: "Two weeks into the first major Wall Street prosecution after the financial cri.. http://bit.ly/08S9ume #cpa
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I'm ebaying...again. - RARE BEAR STEARNS LOGO GOLF BALL PINNACLE - http://bit.ly/7HZsvg
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