Bear Stearns CEO Jimmy Cayne has sent out a company-wide e-mail, defending his conduct personally and professionally against yesterday's Wall Street Journal profile that portrayed him as a stoner and kind of a dick (But in an awesome way.) DealBook got ahold of the e-mail: "I remain, as I have been for many years, intensely focused on our business," Cayne wrote. "Don't be distracted by the noise. I am certainly not." Soon after the memo was sent, Bear Stearns employees heard strains of Pink Floyd's "Hey You" emanating from the corner office.
To: All Employees
From: James E. Cayne
Date: November 1, 2007
Re: Wall Street Journal Article
The Wall Street Journal today published an article criticizing my leadership of Bear Stearns. I stand by the record of success the firm has had over the 14 years that I have had the privilege of leading this great organization. I remain, as I have been for many years, intensely focused on our business.
The article also alleges I engaged in inappropriate conduct outside the firm. As I stated in the story, this is absolutely untrue.
Thank you for your continued dedication to Bear Stearns, and don’t be distracted by the noise. I am certainly not.
Earlier: The Journal Knows What Jimmy Cayne Did Last Summer