Toomre Capital Markets LLC

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Possible Gossip About Joe Gregory of Lehman Brothers??

The New York Post is published by Rupert Murdoch and is well-known in the New York City area for its Page Six section which reports on various gossip items that might be appealing to the greater community. In the November 10th 2008 edition of Page Six, the following tidbit appeared under the section Just Asking:

WHICH wife of a top Lehman executive went on a $132,000 shopping spree at the Americana Manhasset Mall the day after her hubby filed for bankruptcy?

Toomre Capital Markets LLC ("TCM") has written previously about the Possible Bankruptcy for Joe Gregory of Lehman Brothers. Mr. Gregory was the former President and Chief Operating Officer of Lehman Brothers who Dick Fuld relieved of his position back in June 2008 simultaneous with the replacement of then Chief Financial Officer, Erin Callan.

Joe Gregory also was the senior Lehman Brothers executive who commuted via helicopter from his homes both on the north shore of Long Island and out on the Eastern end of Long Island (according to the October 6th Congressional hearings on Lehman Brothers' bankruptcy led by Representative Henry Waxman)!!! As TCM has previously written in Employee Losses in Lehman Brothers Stock Holdings, "Each era has its own symbols of excess and hubris. No doubt the example of the Lehman President flying back and forth from Long Island to Manhattan each day in a helicopter will be one such symbol. Who commutes in and out of Manhattan on a helicopter and at what expense?"

Manhasset, New York is relatively close to Lloyd Harbor where one of Mr. Gregory's residences apparently is located. Also, as TCM has previously written, Mr. Gregory was rumored to be close to filing for personal bankruptcy. Could the above Page Six item be a reference to the second Mrs. Joe Gregory? Toomre Capital Markets LLC wonders, especially given the spike of visitors to this website today searching for more information on the bankruptcy of Joe Gregory. Reader comments are welcome.