fuld

It's official. Richard Fuld (or should I call him Dick), aka the guy who helped flush Lehman Brothers down the toilet, is resigning as CEO. He will be gone by the end of the year. I don't know how anyone could possibly be surprised by this, or how it took him so long to finally give in. But the good news is, he'll be walking away with no severance or bonus. Finally, he makes a good decision.

File this one under poetic justice, or maybe shareholder feedback. Apparently Richard Fuld was trying to work off some of the extra pounds that come from running a company into the ground when a fellow gym member cold-cocked him, knocking him, as they say, the fuck out. Really. Here's the link:

http://www.businessandmedia.org/articles/2008/20081006150152.aspx

Any bets on whose next???

Lehman Brothers to file for Chapter 11 bankruptcy spelling the end for the 158 year old firms. :(

http://online.wsj.com/public/us

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Job Title: Chief Executive Officer
Country: United States City: New York
Compensation Base: Maybe USD Compensation Bonus: Unlikely USD
Position available from: 2008-09-11
Required Experience (years): 0 Role Type: Risk Management
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We're currently looking for a CEO for our Tier 2, no Tier 3 wait, damn it: Tier 4 Investment Bank. We have a not-so-strong balance sheet and we're not entirely sure what our rating is at the moment. But the good news is: We're somehow in the (undeserved) position that the Federal Reserve Bank will keep loaning us money, no matter what. So, we should be good. For the next 24 hours anyway.

As our previous CEO ensured us constantly that "everything was fine" and we.... well, anyway, we need someone new. Pronto.