Erin Callan Out at Lehman

It's not too often that the WSJ features a head to toe picture of anybody, so less than a month ago, when the paper wrote a positive article on the cover of its "Money & Investing" section about CFO Erin Callan along with a full picture of her, it grabbed our attention.  The article was titled "Lehman's Straight Shooter" and said that the CFO instilled a "cool jolt of confidence to the credit-rattled street." 

Since then, Lehman's (LEH) stock has been under selling pressure as investors have lost confidence in the company, claiming that Lehman's management has been anything but straight shooters in their explanation of the company's balance sheet.  This morning, LEH announced that it was replacing its CFO only three days after announcing it was raising $6 bln in new capital.  Like Sports Illustrated, does the WSJ now have a curse of its own?

Comments

[CK:]

Thanks for wasting my time with this pointless stupidity.

2008 Jun 12 10:35 AM

[flaming bag...:]

Nice gams!

2008 Jun 12 01:13 PM

[atitagain:]

I worked at lehman for years. Callan came into the position 6 months ago, long after all the decisions that got lehman into this mess were already made. She doesn't deserve blame for the stock price, she is probably the smartest of the big dogs at lehman. She is just another victim of the system. And promoting mcdade to joe gregory's spot is the second of two pointless move to calm the public sentiment. Maybe its time for Fuld to step down, after all, he is the captain of a sinking ship.

2008 Jun 12 02:31 PM