James Cayne
James Cayne
James E. "Jimmy" Cayneis an American businessman, a former CEO of Bear Stearns. In 2006 he became "the first Wall Street chief to own a company stake worth more than $1 billion" but he lost most of that in the 2007–2008 collapse of Bear Stearns' stock and sold his entire stake in the company for $61 million...
ProfessionBusiness Executive
Date of Birth14 February 1934
decline despite due expense fact improvement largely margin net operating profits program realized
Operating profits were up, despite a decline in net revenues, largely due to the fact that expense reductions from our margin improvement program have now been realized and incorporated into our earnings,
accustomed business clients conditions controls difficult early ensuring face focus fourth further high investors market possible quality quarter receive remains running service third
The market conditions of the third quarter were difficult and those difficulties have intensified early in the fourth quarter, ... In the face of these challenging times, we would like investors to know that our focus remains on ensuring that our clients receive the high quality service they are accustomed to, running our business as efficiently as possible and further tightening our controls on expenses.
effort environment given operating served
Given the challenging operating environment this effort has served us particularly well,
continued costs current effect extremely fiscal franchise income increase industry major margins operating persistent positive reduce results steps strong taken time
The fixed-income franchise continued to show extremely strong results at a time when most other major sectors in the industry were experiencing persistent weakness, ... The steps taken during fiscal 2001 to reduce operating costs and increase margins have had a positive effect on the current period's earnings.
achieved conditions decline declining despite equity income issue led market results solid technology trading volatile weakness
We achieved solid results this quarter, despite more volatile market conditions and declining trading volumes, predominantly in the fixed-income markets. Furthermore, weakness in the Nasdaq, particularly technology shares, led to a decline in equity new issue activity.