financial collapse of Bear Stearns

some amazing quotes from this story. "Bear Stearns, founded in 1923, survived the Great Depression and first sold shares to the public in 1985." "Bear Stearns's profit exceeded $2 billion in 2006" "The book value was about $80 a share at the end of November(2007)."

"Shareholders of New York-based Bear Stearns will get stock in JPMorgan equivalent to about $2 a share, compared with $30 at the close on March 14(2008), the two companies said in a statement today." "the price JPMorgan is paying is about one quarter the value of the securities firm's headquarters building in midtown Manhattan. The 1.2 million-square-foot, 45-story structure built in 2001 is worth about $1.2 billion, based on the average $1,000 per- square-foot that comparable office space in the city is currently fetching."