Lehman CEO kicked out of his plush corner office
Oh how the mighty have fallen.
With Lehman Bros. in the midst of winding up what's left of its operations following its bankruptcy filing, chairman and CEO Richard Fuld has been kicked out of the corner office at Lehman's Manhattan headquarters -- and sent packing to to a 41st floor office at 1271 6th Avenue.
Lehman's building at 745 7th Avenue is now the headquarters for Barclays' investment banking operations. It has no use for Mr. Fuld. With a flair for drama, The Wall Street Journal sums it up (subscription required) this way: "Napoleon cooled his heels on Elba. The Dalai Lama lives in Dharamsala, India. And Lehman Brothers Holdings Chairman and CEO Richard Fuld Jr. will be banished to 1271 Sixth Ave."
Meanwhile former CFO Erin Callan -- who was pushed out as a sacrificial lamb back in July -- gave her first post-Lehman interview to Fortune, telling the reporter that Mr. Fuld had been brought to tears by the difficulties the company was facing.
If you're in the market for $15 million worth of Fuld's modern art collection, Christie's has got you covered.
With Lehman Bros. in the midst of winding up what's left of its operations following its bankruptcy filing, chairman and CEO Richard Fuld has been kicked out of the corner office at Lehman's Manhattan headquarters -- and sent packing to to a 41st floor office at 1271 6th Avenue.
Lehman's building at 745 7th Avenue is now the headquarters for Barclays' investment banking operations. It has no use for Mr. Fuld. With a flair for drama, The Wall Street Journal sums it up (subscription required) this way: "Napoleon cooled his heels on Elba. The Dalai Lama lives in Dharamsala, India. And Lehman Brothers Holdings Chairman and CEO Richard Fuld Jr. will be banished to 1271 Sixth Ave."
Meanwhile former CFO Erin Callan -- who was pushed out as a sacrificial lamb back in July -- gave her first post-Lehman interview to Fortune, telling the reporter that Mr. Fuld had been brought to tears by the difficulties the company was facing.
If you're in the market for $15 million worth of Fuld's modern art collection, Christie's has got you covered.











Reader Comments (Page 1 of 2)
10-02-2008 @ 10:45AM
Mike O said...
Fuld was a financial sheep who followed the heard, making risky investments. In his case, he was one of many sheep who simply followed the heard off the edge of the cliff.
I feel bad for the man on a personal level. I'm sure he thought he was doing the right thing for his shareholders. Unfortunately, he didn't see the edge of the cliff until he got caught in the stampede and fell into the ravine.
10-02-2008 @ 10:28AM
JIMMY MCKINNEY said...
DAMN I JUST REALLY HATE THAT HE HAS TO GO THRU ALL OF THIS [LAMO] I HOPE HE LOSES EVERYTHING HE HAS. I HOPE HE IS LEFT WITH OUT A POT TO PISS IN OR A WINDOW TO THROW IT OUT OF
10-02-2008 @ 11:09AM
eehy said...
lol,,,,,,,,,,,,,,,lol,,,,,,,,,,,lol,,,,,,i still have my art, ha ha ha ha ha ha aha aha aha ha ha
10-02-2008 @ 12:12PM
yorg said...
my side hurts from laughing
10-02-2008 @ 12:17PM
aron said...
I have a hard time believing a man in his position did not foresee the ups and downs he was committing to.
It smells like white collar fraud.
Bahamas next to count, comeback under the radar later.
10-02-2008 @ 1:36PM
thomas Anderson said...
Gosh darn, I feel so sorry for this mega millionaire
10-02-2008 @ 4:18PM
leanne said...
Greedy pigs do somestimes go to slaughter!!!! Oh - how good does that bacon fat taste!
10-02-2008 @ 4:26PM
jim said...
I can't feel sorry for him; within three(3) weeks (more/less) he has screwed up big time. Now he is walking away with millions. What about the people that will be out of a job because of his geed and hap harzard management. Now let him join the ranks of the other "Wall Street Clowns" who have made millions at the expense of the hard working people who will lose everything. That really makes me sick.
10-02-2008 @ 4:27PM
Nades said...
Its such a shame that he lost his "posh corner office".... i'm really really heartbroken for him.. forget about all those people losing their jobs and homes because of this crisis, this poor guy just got booted to 6th street!! My prayers are with him... Freaking incredible, at least HE still has a job!!
10-02-2008 @ 4:34PM
mike said...
The day better come when all these crooks go to prison or there is going to be some linchings of some very powerful people.
10-02-2008 @ 4:43PM
Rhonda said...
telling the reporter that Mr. Fuld had been brought to tears by the difficulties the company was facing.
so heartwarming.. I need a fiddle..NOT
10-02-2008 @ 4:48PM
skip said...
IF ONE SINGLE PERSON SHEDS A TEAR FOR THE LIKES OF THESE FINANCIAL CEO'S, THEY SHOULD BE SHOT. THESE MORONS AND THEIR WASTEFUL WAYS HAVE RUINED AMERICA.
10-02-2008 @ 5:12PM
Carl said...
To MikeO
You feel sorry for someone who had absolutly never had your intrest at heart.
Trust me dude.......his only intrest was lining his pockets with our money.
10-02-2008 @ 5:32PM
Bastards said...
My Heart Bleeds ! NOT !
10-02-2008 @ 5:33PM
lynn said...
he's laughing all the way to the bank.(off shore!)
10-02-2008 @ 5:55PM
bob wong said...
The price of failure.
10-05-2008 @ 8:53AM
Sue said...
Fuld also left Lehmans with a $24 million golden parachute package. These guys knew what was going on and they knew what was coming. They hid the facts to keep the big bucks coming and to save face. Does negligence constitute a crime? Problably not. I'm sure they had lawyers on both elbows all the way.
10-02-2008 @ 6:01PM
John said...
DAMN I JUST REALLY HATE THAT HE HAS TO GO THRU ALL OF THIS [LAMO] I HOPE HE LOSES EVERYTHING HE HAS. I HOPE HE IS LEFT WITH OUT A POT TO PISS IN OR A WINDOW TO THROW IT OUT OF
+++++++++++++++++++++++++
Jimmy, I think he already lost the window.
10-02-2008 @ 6:28PM
James said...
Kick him OUT of the building, NOT just his OFFICE!!!!!!!!!!!!!!!!!!!!!!!
10-02-2008 @ 7:15PM
Jules said...
Too bad they didn't boot him off the roof of a high rise.