Lehman Brothers Kills The Clowns, Ruins Christmas

OK. Maybe Lehman’s Dick Fuld didn’t really execute the clowns of the Big Apple Circus. But the bankruptcy of Lehman Brothers means that the circus won’t be getting the $50,000 Lehman donated in past years to sponsor free admission for youth groups.

Bloomberg reports:

“They said they weren’t going to be able to do anything this time,” Steve Dennin, Big Apple’s vice president for development since 2006 and chief fundraiser, said in a phone interview. “We’ll miss them.”

The New York-based nonprofit, which brings its one-ring circus to 10 U.S. cities from September through July, depends on funds raised at the fall gala, being held tonight, to help fund artistic and community programs. The event, which took in $1.2 million last year, is hoping to reach the $1 million mark by today.

Lehman filed for bankruptcy in September. Chief Executive Officer Richard Fuld, 62, had served on Big Apple’s gala committee in 2006. He’ll remain chairman of the Lehman board while his employment is terminated at the end of the year without severance or bonus. He received $34.4 million in pay last year.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.

Tagged In