JPMorgan CEO Jamie Dimon is taking criticism in some quarters for quintupling his company’s bid for Bear Stearns.
He is everything Wall Street wants in a leader — a visionary who also knows how business is practiced in the trenches. On Wall Street, you could survive without either of those qualities if you know how to make a deal. Here’s the good news for Jamie: He may be the Street’s savviest dealmaker.
So, that’s why Dimon’s wrong-headed decision to cave into Bear Stearns shareholders is so disappointing. On March 16 he announced a deal where he would get Bear for $2 a share. Bear’s board agreed. Dimon had his foot on this deal’s throat. It was over. It was a masterpiece. Then he got a case of the pities.
Somewhere, Gordon Gecko is hanging himself with his suspenders.
[via Marketwatch]
And now, an obligatory Pink Floyd story to go with the above punning headline:
In another incident [during the 1975 recording of the Wish You Were Here album], a heavyset man with a completely shaved head and eyebrows wandered into the studio while the band was recording "Shine On You Crazy Diamond," although Nick Mason has since stated that he’s not entirely certain whether this was the particular song being recorded when the man was in the studio. The band could not recognize him for some time, when suddenly one of them realised it was Syd Barrett. At that time, Barrett had gained a lot of weight and had shaved off all of his hair, including his eyebrows, and the seven-year gap meant that it took some time for his ex-band mates to identify him.
When they eventually recognised Barrett, Waters was so distressed he was reduced to tears. Someone asked to play the song again and Barrett said a second playback wasn’t needed when they’d just heard it. Apparently, when "Wish You Were Here" was played, "He [Barrett] stood up and said, ‘Right, when do I put my guitar on?’" keyboardist Rick Wright recalled. "And of course, he didn’t have a guitar with him. And we said, ‘Sorry, Syd, the guitar’s all done.’"
When asked what he thought of Wish You Were Here, Barrett said it sounded a "bit old". He subsequently slipped away during the party for Gilmour’s wedding (which was, coincidentally, also on that day.) It was the last time any of the other band members saw him.
[via Wikipedia]
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A friend was a roadie for Pink Floyd when Barrett left the band. I asked him what happened. He just shook his head and said, Syd was given every possible chance… But he was just too far gone?, I asked. Yes, was his reply.
Best. Title. EVER.
Thanks. I was inordinately pleased with myself for that one.