Lehman Brothers Collapse

[ethan]

The news of Lehman bros. going into administration has made me realise how serious this credit crisis is. I used to work near their offices and always thought they were a solid, large organisation so this is quite scary in terms of job stability. I think they employed about 25,000 people around the world.

[fuball]

...always thought they were a solid, large organisation so this is quite scary in terms of job stability. [/QUOTE]

Really?why

[SiM]

We were A rated and were the 4th biggest on the street. Btw, 25,000 haven't lost their jobs... 10,000 in America kept their jobs with Barcap and some of us here in London (and Asia) will continue to be employed by Nomura (thy bought out Asian business too)

[christiansoldie]

I owe, I owe so off to work I go...well, except for today and tomorrow...my company is in the midst of mini-layoffs.

[doYdY]

i may be fairly young and perhaps stupid, but... i dont get it, how these giant, multi billion pound companies can just be running one day, then at three in the morning or whatever say 'oh we just ran out of monies!!!1!'. dont they see this sort of thing coming? :S

[shaithis]

I think it's because of the way they do business. They are constantly gambling future income........So, when that future income does not materialise, things start to fall to bits, a little too late to do a lot about it.

As for LB, I work less then 100m from their Canary Wharf office and pass it every day, still lots of people coming and going from the building.

I actually finished a data conversion job for one of our websites a week before "the collapse", one of the parts of the site was a regulatory alerter system, we were worried that the new site required all users to re-subscribe....the LB collapse came just at the right time, we had more people sign up in 1 week for our alerts then the old system collected in 5 years lol