Just How Desperate Is James Cayne To Win At Something, Anything?
Forget about the fact that Jimmy Cayne’s had some trouble re: Bear Stearns’s minor subprime hedge fund crisis. Don’t even think about the rise he got out of a few people when it was revealed that Cayne was hitting the links while Bear Stearns High-Grade Structured Credit Strategies Enhanced Leverage Fund lit paper bags full of money on fire. None of that comes close to the JC awesomeness we’re about to throw your way: the Hollywood Country Club (Deal, NJ) is investigating allegations that the Bear CEO used some creative scoring techniques that allowed him to win the club’s July 4th tournament. Yes—James Cayne (possibly) cheats at golf.
CNBC’s Charlie Gasparino reports that a committee of three has been formed to look into the complaint. Harvey York, president of the club told Gasparino that “allegations of cheating occur all the time,” particularly among the senior-level executive members who are small and petty. Gasparino’s two cents are that Cayne is a “straight up guy” but “the long knives are coming out against him because of his troubles at Bear Stearns.”
Looking ahead: did foul play have a hand in James Cayne championship bridge career? The answer may surprise you.
Earlier: Golfing While Bear Stearns Burns?
Comments
now this is just a great monday story. let's ride this one all week!
Posted by: Anonymous | July 16, 2007 10:15 AM
bear's burning?
uhm, it doesn't feel any hotter now that it has for the past year ... but then again, i'm a global warmening DENIER!!!
Posted by: w3 | July 16, 2007 10:22 AM
burning to the ground!
Posted by: Anonymous | July 16, 2007 10:25 AM
wow i know the street likes to kick a guy when he's down but jesus, having the club investigate his golf game?
that's just shameless.
Posted by: Anonymous | July 16, 2007 10:36 AM
HaHa -- mark-to-model golf scoring too.
Posted by: de Cosmos | July 16, 2007 12:56 PM
my model says that a golf ball flies along a non-linear stochastic path.
Personally, I recommend the purchase of a golf-ball call contract per each swing. Though one might also consider the CME's weather index dependent on the season and geographic location.
Posted by: fr | July 16, 2007 01:24 PM
If Mr. de Cosmos' quip isn't comment of the week material, then I don't know what is.
Posted by: Zbignew | July 16, 2007 01:28 PM
I know the guy he played against. not saying anything happened but when a 12.2 index golfer (= average scores in the low 80's) posts a bunch of scores in the high 90's right before the club championship....well you tell me...
Posted by: kelly robinson | August 4, 2007 05:00 PM