At least he has a babe http://www.nypost.com/seven/09162008/news/regionalnews/i_lost_6m_overnight_129319.htm One shaken Lehman shareholder had a million reasons to mourn the loss of his former company yesterday. Actually, 6 million. “I’ve lost more than $6 million overnight,” lamented David Shorr, standing in front of Lehman Brothers’ Midtown headquarters as hundreds of stunned and depressed workers milled around him. “I’m wiped out,” said the 49-year-old Upper East Sider. Shorr currently works as a “wealth adviser,” a senior vice president, at Morgan Stanley. But he spent years at Lehman before that - and said his stocks and benefits from his tenure at the now-defunct investment powerhouse are all worthless. Shorr could muster only a slight smile as he read a large sidewalk placard, with an unflattering depiction of Lehman CEO Richard Fuld, being signed by angry employees and onlookers. “What the hell was he thinking?” asked Shorr, who placed much of the blame on the hard-charging executive who has been one of the country’s highest-paid CEOs. When asked if he had any hopes of recovering his nest egg, Shorr just shook his head and waved his hand. “It’s gone,” he said with a sigh. Fueling the anger at Fuld are reports that the CEO refused multiple bailouts offers, including a chance, as recently as August, to sell a 25 percent stake in Lehman for $4 billion to $6 billion to Korea Development Bank. Several Lehman employees leaving their offices yesterday declined to be interviewed. But one desperate veteran worker met the request with one of his own: “Can you pay me for my story?”
Hilarious a “wealth advisor”, which decided to put your entire net worth into a single stock.
this guy was a wealth advisor to other people? an SVP? he should be fired from MS immediately. evidently, he doesn’t have a CFA, or he would have done the L3 readings.
Maybe he has 14 million in bonds?
He doesn’t have a babe either… that’s Eliza Dushku
I mostly agree he def should not have his whole net worth in LEH, pretty be idiot for that…I feel sorry for his clients. On the other hand though what if he could not sell his holdings or he was not vested…i doubt everything was like that but maybe some of his worth. Either way I still think he is an idiot but still feel bad for him.
“WIPED OUT: David Shorr, with Eliza Dushku, before his shares tanked.” Sort of implies that Eliza wouldn’t hang out with him now that he’s down $6MM. Really?
s23dino Wrote: ------------------------------------------------------- > I mostly agree he def should not have his whole > net worth in LEH, pretty be idiot for that…I > feel sorry for his clients. On the other hand > though what if he could not sell his holdings or > he was not vested…i doubt everything was like > that but maybe some of his worth. Either way I > still think he is an idiot but still feel bad for > him. there were ways to manage his risks even if his holdings were not vested. L3 readings folks, L3. READ them, LEARN the stuff, bring respect to the profession. not like this guy.
I haven’t gotten to the l3 readings, can you give some examples?
Wow he may become a homeless bum overnight.
He should have gone to Vegas and put 6 million on red in roulette instead. Double or nothing.
- He lost (much of ) his money (overnight). . . and invested all of it in LEH . . . and is a Wealth Manager at MS 2. With this story he has a great future reputation for making solid and diversifed investments sounds like he is good to go / a real winner
Its greedy people like this guy who have screwed up the economy. No sympathies for him…he should now enjoy being a bum hanging around on Wall St.
WTF??? That dude is banging Eliza Dushku??? He’s like twice her age…who is this guy? Is he a well-known stud or something?
zimzim78 Wrote: ------------------------------------------------------- > WTF??? That dude is banging Eliza Dushku??? He’s > like twice her age…who is this guy? Is he a > well-known stud or something? Bue she is still hot!
I don’t understand how this guy would just leave his prior benefits / stock options running in LEH - there must have been some kind of contract for Lehman employees that they could not transfer the compensation, even after leaving the company - right? Or did this guy literally leave $6M in one company’s future and could have split up the funds if he wanted to . . .
I bet this douche drives a Miata too.
I like how Lehman traders were stealing paintings
man, you guys are being harsh. my firm just hired a lot of GS people, and a lot of their severance and benefits can’t be withdrawn for a while, and a lot of their options aren’t vested yet. He just got a $6MM kick to the nuts. Leave him be.
An SVP? At Morgan Stanely? Wiped out? I don’t know. I mean he’s probably got assets elsewhere. To be sure, this $6 million kick in the nuts is likely the biggest blow this arse clown has had to take but it’s still his fault. Regardless of how the shares were structured, he should have used protection: puts or a futures contract on financials if his company did not allow puts on Co., stock. I mean it’s just basic stupidity if you ask me. But wiped out? I don’t know probably not. Willy