Lehman Employees Use EBay to Offer Memorabilia, Parting Shots

[Purveyor]

By Chris Burritt and Beth Jinks

Sept. 16 (Bloomberg) -- Lehman Brothers Holdings Inc.'s bankruptcy, the largest in history, sent the firm's employees to EBay Inc.'s auction sites to offer knick-knacks and memorabilia. And parting shots.

One employee selling a Lehman water bottle ``worked here half of my career,'' according to comments on the Web site. ``Bought half my stock at a weighted average price of $45. Enough said,'' the seller wrote.

Chief Executive Officer Dick Fuld ``told me this brand new, never used bottle is unbreakable, but he also said that about our mortgage business 2 months ago. Caveat Emptor, I guess.''

Bidding on the green bottle with a black cap started yesterday at 99 cents, almost enough to buy five Lehman shares, and rose to $20.50. Lehman shares plummeted 94 percent to 21 cents in New York trading yesterday.

While the 158-year-old Lehman Brothers navigated bankruptcy court and tried to sell off divisions, the New York-based firm's 25,000 employees across the globe weighed employment options. Some used the public forum of EBay's auction site to make themselves heard amid Wall Street's biggest upheaval since the Great Depression.

``Own a piece of Financial History,'' the seller of an ``Official Lehman Brothers Fire Safety Team Hat'' said. ``Please give this hat a nice home.''

Bidding on the red cap, whose wearer was meant to lead employees to safety during a fire, climbed to $31 from 99 cents.

`Lehman is Dying'

``EVERYTHING must go,'' the seller of four white T-shirts emblazoned with ``Lehman Brothers'' wrote. ``Now that Lehman Brothers is dying, all of the LB logo items are of high value as they have become instant collector's items.''

The starting bid for each shirt was $12.99. As of 3:19 p.m., no one had bid.

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BLOOMBERG: http://www.bloomberg.com/apps/news?pid=20601103&sid=aKnI633GcgCw&refer=us

[Critters2]

1. `told me this brand new, never used bottle is unbreakable,

but he also said that about our mortgage business 2 months ago. Caveat Emptor, I guess.''


:rofl:


I know. It's very sad, and I shouldn't. And yet...:rofl:

[ColbertWatcher]

2. This is starting to look exactly like Enron. n/t

[global1]

3. And Under The Watch Of The Same Administration (*CO) That Brought Us Enron.......

this last 8 years has been a complete disaster for this country - the lies, the war, the economy.

How can all these polls we get be so close - given all that this country and we people have endured over the last 8 years. How could anyone want another 4 years of the same ole - same ole?

[ColbertWatcher]

4. Some people made money off them. Not many, but some did.

Not enough to win an election, just enough to steal it.

Bastards.

We can't let them get away with it this time.

[anigbrowl]

5. I just put some bids on and hope I get something for a few $.

I picked the 'emergency evacuation kit'.