Monday, August 6, 2007

Jimmy Cayne: fired!

Read this:

Chief Executive Jimmy Cayne and his one-time protege Warren Spector attended the National Bridge Championship in Nashville in July just as the credit markets were starting to implode, showing how much their priorties were out of whack.

This is unacceptable. This is the Lay and Skilling type of business. This is outrage.

The cherry in the cake: Spector, who was fired Sunday as the subprime meltdown engulfs the Wall Street bank, actually won his first national championship in the four-day competition which attracted about 5,000 people from 18 countries, according to Rick Beye, the tournament's director.

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