I wonder how many other people’s retirement funds went into the tank because of Bear Stearns. But, it’s okay....Bear Stearns Paid Chief Cayne $40 Million Last Year, and then was able to sell his stake in the investment bank after J.P. Morgan Chase raised its offer for the failing bank from $2 a share to $10 a share — netting Cayne about $61 million.
Just how much DID you lose on Bear?
Yep, it sucks that it worked out that way. The only fix, though, is to outlaw restricted stock grants. I wouldn’t recommend it. A few executives like Cayne cashing out shouldn’t ruin it for everyone who benefits from such programs, including many lower level employees at many public companies, or those executives who create tons of value in their companies and have every right to share in the stock appreciation.