32-Floors of Anxiety

Interesting take via Bloomberg on the Barclay’s takeover of Lehman:

"The name on the building is gone. So is the fast-moving video display of clouds in a blue sky over a wheat field combed by wind and followed by a message: “Delivering our firm to clients worldwide.”

In their place on the façade of the 32-story headquarters building of Lehman Brothers Holdings Inc. at 745 Seventh Avenue in Manhattan is the white and blue logo of Barclays Plc. Inside, former Lehman employees still wear the green and white security badges of the 158-year-old bankrupt investment bank and wonder if they’ll be gone.

Nine days after Barclays agreed to pay $1.75 billion for Lehman’s investment banking and capital markets, including its headquarters, former Lehman employees at 745 say they’re in limbo on whether they’ll be retained by Barclays and under what conditions."

These are strange and interesting days . . .

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Source:
Barclays Puts Logo on Lehman Office, Gets 32-Floors of Anxiety
Serena Saitto
Bloomberg, Sept. 26 2008
http://www.bloomberg.com/apps/news?pid=20601109&sid=a3m8E8E2l93A&

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