Bear Stearns (fka BSC)

[willlbone]

Employee will not vote for this deal.

Late yesterday, some Bear Stearns employees and shareholders were grumbling about the deal. If the feeling is widespread it could emerge as a potential obstacle to the completion of the deal because Bear Stearns employees own about a third of the company's shares.

"I've got to think we can get more in a liquidation, I'm not selling my shares, this price is dramatically less than the book value Alan Schwartz told us the company is worth," said a midlevel Bear Stearns executive. "The building is worth $8 a share."