May 14th, 2012
08:02 PM ET

Overheard on Wild times on Wall Street, busy day for business news

Editor's note: This post is part of the Overheard on series, a regular feature that examines interesting comments and thought-provoking conversations posted by the community.

Things have been eventful in the business world. Readers are certainly talking about these recent developments.

JPMorgan investment chief out

Ina Drew, JPMorgan Chase's chief investment officer, has left the bank after revelations of a $2 billion loss sustained over the past six weeks. Readers talked about the fact that she is retiring.

Cliff Eden Gardner: "Wow, wish I could still be set for life after costing my company billions."

dcjohnny: "Go to school, then work 80 hours a week, then go back to school, then work even harder. Ascend to the respect level she commanded via an extraordinary career, and then – if you find yourself at the tail end of a bad decision gone haywire – you will most likely be able to retire with more money than any of your friends. You know how not to reach that potential? Complain about others and elect people who will throw you the occasional scraps from their table every election cycle."

Melissa Walker: "Someone costs your company $2 BILLION and you're allowed to retire? With a golden parachute and pension and everything? Sheesh, even after the financial collapse, it's clear the Fat Cats don't get it - FIRE THE WITCH-RHYMES-WITH and let her enjoy the wide world of unemployment and looking for a job at her age with her 30 years of experience."

mwilder: "Until we have regulations in place this will continue to happen. Plain and simple."

Similar conversation, with a dash of wisecracks, followed this story.

Best Buy: Former CEO had relationship with employee

Best Buy on Monday said an investigation revealed that former Chief Executive Officer Brian Dunn engaged in an inappropriate relationship with a female co-worker. He had stepped down in April.

oldguy68: "The guy gets laid, picks up an extra 6+ million and doesn't have to work for three years. Life is good."

25deabril: "Don't dip your dink in the company ink (inc?)!"

phishin: "Best Buy is either not telling the whole story or is more likely using this as a scapegoat for it's very poor performance ... it's their fault being Best Buy hasn't changed its approach in forever in regards to its model ... that has been slipping steadily."

HateMan: "If he worked for the govt he could do all of this out in the open. ..."

mofo74: "I wonder if he talked her into a relationship ... and an extended warranty."

Was there additional motivation for this?

Cutedog2: "If every CEO was canned for an inappropriate office relationship, there would be a revolving door. It was a good excuse to oust him from his position that legally stood ground (hefty severance didn't hurt either). Best Buy needs new blood.

Guest: "I think they only need new blood to satisfy Wall Street types, new blood is more likely to close more stores to cut payroll costs."

Cutedog2: "Sadly, I am afraid you are correct. Thank goodness Dunn will still collect 6.6 million while others are collecting their pink slips."

Guest: "Without him building the company, most of those jobs wouldn't have been there, without his resisting Wall Street types about half of them would've gotten pink slips in 2009, I actually AM glad he gets the money."

But don't forget about ...

Ousted Yahoo CEO will get no severance

Scott Thompson "resigned" from his post as Yahoo CEO's in the wake of his resume-embellishing scandal, and he'll receive no severance. But he does get to keep the $7 million he earned in cash and stock.

djreilly: "Wow, wait a minute, he gets $7 million after he lied on his resume? It wasn't even a small lie. Well for the average work-a-day job hunter, it sure the hell is. And he gets to walk away with the bucks and he will probably write a frickin' book and make dough off of that as well. Life can be a cruel mistress can't it?"

Can Thompson's work be trusted? Or is he being unfairly targeted?

eechaze101: "Say what you want to say about this guy, he still is a talent. He very likely will be resourceful wherever he works next considering his expertise. Tell you the truth, if I were a rival company I'd consider consulting with him as soon as the terms allow."

sarahH: "Does he? And you're qualified to determine that? The problem is he's a liar. No one knows if he can really do what he claims or takes other people's work and claims it as his own."

Not a Battlestar fan?

Gary Ream: "Few if any innovators have half the alphabet after their name. The culture of accreditation leaves us with a bunch of pointed headed inbreeds sinking the boat while arguing how many angels dance on a pinhead. For example, check out the pencil necked freaks discussing the works of Leo Strauss sometime. What, they canceled the 'Battlestar Galatica' convention?"

Matthew Flaschen: "The problem is not that he didn't have a CS (computer science) degree. He has the right to make the case that he has what it takes despite having no degree. The problem is, he lied."

And then ... there's the issue of the Facebook initial public offering, expected soon, maybe Friday.

(If you or someone you know has decided not to use Facebook, share your story at CNN iReport.)

This story takes a look at websites that will sell you one share of a company, in light of an increased desire to own a part of Facebook.

How to buy 1 share of Facebook stock

Readers did not seem optimistic about the book of face.

alexjones999: "Here is what is going to happen. Moron investors are going to bid up the price of Facebook stock to 70 bucks a share and make the company worth 200 billion. Even though it only earns a billion a year. This is all a result of people not being taught math in school. People believe that if a company earns 1 billion it should be worth 100 or 200 billion. But why stop there? Bid it up to 500 dollars and make it be a trillion dollar company."

Jeff wilson: "I have bought stuff through Oneshare before. They only allow you to buy one share of a company... and that's it. Those places are only for people who want to give them as gifts."

55Buckeye: "I wouldn't contribute a nickel to Mark Zuckerberg or his partner who renounced his American citizenship! I'd love to see Facebook fall ... flat on its billion dollar face!"

Do you invest in specific stock?

Holly Kick: "Stocks are only for rich people like Zukeburger ... for everyone else it is a way to lose money. Its my money that is feeding them. If you are happy, put your money in and let them have fun ... best of luck ... more booze for Mark Zukeburger King."

Longhorns21: "If you have some common sense and possess some intellect, then it's quite easy to make money off investing in stocks. If you're too blind to see through the Wall Street greed stereotypes, then yeah, you're probably one of those idiots who would lose money."

This reader had a pretty creative idea.

Brian Berry: "I'm gonna buy one Apple stock certificate , one Facebook stock certificate and one Google certificate; fold them all up into paper airplanes, find a friend from my friends list on each site, have a paper plane race and see who wins! What plane are you betting on in the most dangerous casino in the world: THE STOCK MARKET?"

With that said, we'd love to hear your thoughts. Share your opinion in the comments area below and in the latest stories on Or sound off on video via CNN iReport.

Compiled by the moderation staff. Some comments edited for length or clarity.

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Filed under: Business • Economy • Facebook • Finance • Overheard on
soundoff (6 Responses)
  1. chrissy

    Ive been waiting to see how this was gonna play out and its gone just the way i figured. Gonna let ONE person be the fall guy! Figures.

    May 14, 2012 at 9:13 pm | Report abuse |
    • nsaidi

      There are some similarities between stories.

      May 14, 2012 at 10:28 pm | Report abuse |
  2. Smako

    You can be set for life, go throw a brick through a cop car windshield while the cop is driving. Then start swinging when the cop gets out. You will get a fat sentence and the other prisoners will like you (in the good way) because you tried to take out a cop. Throw a few punches at the guards and it will keep you in even longer. Three hots and a cot, free medical and dental, work furlough programs, job training and education is available. You can even have conjugal visits in some places. More money is spent on convicts than children in public schools. It's your tax money, it's time you used it.

    May 14, 2012 at 9:28 pm | Report abuse |
    • nsaidi

      Did you intend for this comment to go on this post?

      May 14, 2012 at 10:28 pm | Report abuse |
  3. know hunger

    Most folks are doin` pretty well. Time to stop blaming wall st. and just be thankful there is so much abundance in America.
    We got it good and our corporations and politicians look out for one another.

    May 15, 2012 at 12:37 am | Report abuse |
  4. saywhat

    Your sarcasm is well placed @ know hunger.
    The new French President declares that his enemy is the World Finance.That is something to ponder.

    May 15, 2012 at 10:07 am | Report abuse |