“My entire family, we try not to dwell on or think about the events of the last two or three years,” Ralph Cioffi, the former Bear Stearns hedge fund manager, said on a recent weekday. He was sitting in a low-rise office complex next to a car wash in suburban New Jersey. “I guess if Read More
On the Money
With few exceptions, many of the CEOs and senior Wall Street executives who oversaw the financial crisis have taken their exit, having been fired or having the foresight to leave before they could get canned. Alan “Ace” Greenberg, the former chairman and CEO of Bear Stearns, is not among them. The 83-year-old has been working Read More
Under the leadership of Bear Stearns’ refugee Alan Schwartz, investment bank Guggenheim Partners is apparently busting at the seams.
The Chicago- and New York-based investment firm, which manages more than $100 billion in assets, has hired commercial real estate brokerage Jones Lang LaSalle to locate substantially more office space-about 150,000 square feet-for Read More
Even though it took Alex Reyfman, the former head of credit derivatives research for Bear Stearns, four price cuts before he finally sold his Upper West Side co-op, he ended up getting only $540,000 less than his first asking price.
Another former Bear Stearns executive won’t be as lucky.
According to a Corcoran Read More
Even if most of New York’s well-heeled homeowners have figured out that their exceptionally huge real estate isn’t worth quite what they once imagined, a few are having a hard time making the adjustment. They’re like smiley Dutch florists in post-bubble 1638.
Trump Park Avenue, for example, that beautiful old hotel-turned-condo, hasn’t had any Read More
House of Cards: A Tale of Hubris and Wretched Excess on Wall Street
By William D. Cohan
Doubleday, 468pp, $27.95
Four years ago, on a grayish morning in late May, I left my Brooklyn home and made my way to Central Synagogue on Manhattan’s East Side. I came thither to pay my Read More
Wall Street Journal reporter Kate Kelly didn’t know what to expect the week before last when she opened her advance copy of House of Cards, the new book by William D. Cohan on the downfall of Bear Stearns. Would it be great or awful? A clip job or a robust work Read More
From the Journal‘s Anton Troianovski, in a story about slumping office rents nationwide: "In New York, Monday Properties Chief Executive Anthony Westreich is looking to fill a 70,000 square-foot floor being vacated by former financial-services firm Bear Stearns Cos., acquired in a shotgun marriage last year by J.P. Morgan Chase & Co."
We’re Read More
With the announcement last week that its top seven executives would forgo annual bonuses for 2008, Goldman Sachs continues to demonstrate why it has always stood out from the rest of Wall Street as a leader that represents the best in capitalism. By giving up tens of millions of dollars in compensation, Goldman’s chief executive, Read More
Barely two weeks ago, The Observer wrote about Sheridan Mitchell Lorenz (daughter of Texas natural-gas billionaire George Mitchell), Alice R. Gottesman (daughter of Warren Buffett’s billionaire friend David Gottesman) and Roy Judelson (son of Gulf & Western co-founder David Judelson) all buying new Manhattan real estate. And who could forget January’s news that Hummer Read More