The Services Safari Blog posted this yesterday:
Calling all Lawyers… The Bear Stearns Collapse
The following is an excerpt:
Shareholder litigants are going to be talking about this one tonight and tomorrow. Let’s recap the fall of Bear Stearns stock price and market value the last year:
Stock price last year: $159/share – market cap: $18.76 billion
Stock price last week: $69.75/share – market cap: $8.23 billion
Stock price Friday: $30/share – market cap: $4.04 billion
Acquisition price Sunday: $2/share – market cap: $236 million
The post ends with:
Are criminal indictments in the future?
Punchline: this trumps my wildest speculation about how erratic the economy may become. Managing Partners: Are the appropriate practice group and industry teams watching all economic indicators (formal and informal) and reporting to you frequently (a la #4 in my January 24 post: Recession-Proof your Law Firm).