What's Next, Kleenex? : Blog Of The Nation Another company vanishes into thin air... Lehman Brothers goes the way of Pan Am, and Standard Oil.
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What's Next, Kleenex?

Sign of the times. Source: timetrax23 hide caption

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Source: timetrax23

For as long as I can remember, whenever I'm trying to explain that someone works for a big investment firm, I say, "You know, he's an analyst at Lehman, or Morgan Stanley... one of those." I'll have to think twice before I speak so dismissively — Lehman Brothers, one of the most storied firms on Wall Street (158 years old!), filed for bankruptcy protection today. I've known friends and family that have worked at Lehman; along with Morgan Stanley and Merrill Lynch, it virtually symbolized Wall Street to me. Certainly, the structure of the financial systems I've grown up with are changing. It made me think, though, about all the other well-known companies that have disappeared — Paine Webber, RCA, Compaq, TWA. Let's observe a moment for those ventures that tried, succeeded, only to fail flagrantly after that success.