Hi,
This morning I received many phone calls from friends to check if I am
still with Lehman. I really appreciate the calls and decide to write
email to assure everyone that I already left Lehman three months ago.
But the phone calls reminds of the good times in Lehman. It was great
experience there. I used to work day and night to build xxx system
with which the company pretended to be profitable. Many friends of
mine are still working there. Together we were told to work hard and
stay loyal to company so the CEO can buy private jet and expensive
beach-front masion. Now with the share price plunging to zero, I heard
the company is still cashing in a lot of money by selling asset. The
most valuable one is its accounting book. Sotheby's is going to
auction it off this week as "major modern art work, expressing the
concept not bound by physical constraints and mundane reality".
I am working for a different company now. But the rumor has that out
of desperation Lehman will cut headcount by 120%, the first time a
bankrupt company lay off more people that it actually has. The math
goes that they can save 1 billion dollars by cutting 20% employee. By
cutting 120% of empoyee they can save 6 billion, which effectively
make up this year's total loss. With this cut we who don't work for
Lehman still could lose our job. Because of this I decide to have a
drink with my ex-coworkers tonight. It's time to show my support and
solidarity, as many of you have done for me.
Thanks.
xxx
