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New York : A Bear Stearns lacrosse team beat rivals from Lehman Brothers 11-4 on Friday night, a rare piece of good news for workers at the now-defunct Wall Street firm.
Former Bear Stearns employee Peter LeSueur scored four goals at Baker Field in Upper Manhattan, leading his team to the victory over Lehman. It was the first time the teams met since Bear Stearns won in double overtime last year in the semifinals of the Gotham Lacrosse tournament.
The Bear Stearns Team, called "Bear", is actually composed of about half employees who worked at Bear Stearns and half from Bank of America. Many of the Bear Stearns employees who have moved on to other firms since the company's sale still chose to play on the team.
"It's been something that we've been able to look forward to," said LeSueur, who played lacrosse for Johns Hopkins from 2002-2005. "There were a lot of question marks surrounding the firm in the last couple of months, and just for fun we were able to keep our focus on this and know that we'd be able to play together and maintain our friendships."
There hasn't been a lot to cheer about at Bear Stearns since March, when the company averted bankruptcy only through its sale to JPMorgan Chase & Co for a fraction of its market value. Once the fifth-biggest US securities firm, Bear Stearns imploded after customers and lenders fled because of speculation that the company faced a cash shortage.
Life hasn't been much better at Lehman, which on June 9 reported a $2.8 billion second-quarter loss, the first since the company went public in 1994. Lehman's shares are down 55 per cent this year.
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