Joe Gregory and His Helicopter
Around 5 PM on Monday May 10th 2010, visitor traffic to the Toomre Capital Markets LLC ("TCM") website noticeably spiked. Many of the visitors first came to the post Possible Bankruptcy for Joe Gregory of Lehman Brothers before often continuing to other postings. The source of much of this increased traffic was tied to the micro blogging service twitter.
Felix Salmon, a financial blogger at Reuters, had tweeted "NYT says the most expensive commute in NYC is by taxi. http://nyti.ms/aE0YeW They're wrong. It's helicopter. http://bit.ly/bNgRjV". The second compressed URL was a link to the TCM post about details of the former President of Lehman Brothers' rather extravagant method of daily transportation — a helicopter — during the financial housing boom.
Thanks Felix Salmon for the reference. Many are still wondering just what Joe Gregory was thinking that he needed a helicopter for his regular commute from Long Island. There perhaps is no better example of the recent hubris of Wall Street personnel than Joe and his helicopter!!