Lehman Brothers employees are selling off their tee shirts, ashtrays, cigar holders and tons of other stuff on eBay
When I typed Lehman Brothers into the eBay search engine it came up with 254 items for sale. A few of them were domain names related to the bankruptcy, but most of the items for sale were various advertising giveaway and employee items including golf clubs and golf balls, hats, tee shirts, duffel bags and other items of clothing with the Lehman Brothers name and logo.
One of the most ironic items was an operating principals cube. Here is what the listing said:
Own a piece of Lehman Brothers history as its being made. Brand new and sealed in the original plastic.
Operating Principles cube that opens up in different ways and you can read all the different principles like…
"Demonstrating smart risk management"
"Demonstrating commitment to excellence"
"Doing the right thing"
"Maximizing shareholder value"
I especially like the first one.
Another great item is a Lehman Brothers Emergency Evacuation Kit.
It’s not only happening in the US. Here is a link to a story in the UK Telegraph about angry Lehman Brother’s employees selling off their stuff.
Lehman Brothers is not the only one. If you search Merrill Lynch, bought out by Bank of America yesterday, there is a lot of their Merrill selling as well. Could AIG be next?
You can’t buy it on eBay, but I find it interesting that people are still buying Lehman Brothers stock. The stock is trading today for 19-cents a share. I called a broker friend of mine and asked him about it. It turns out that Lehman actually has a lot of assets. Some folks estimate that when the bankruptcy is finally finished shareholders could end up with a couple of dollars per share. But –that could take several years.
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