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January 11, 2010
Bear Stearns Name Goes Away January 31

By Tom Steinert-Threlkeld  

The last use of the name Bear Stearns will end with the last day of this month.

JPMorgan Chase & Co.  will end the use of the name Bear Stearns Private Client Services for its retail brokerage business aimed at high-net-worth individuals at the end of this month, Darin O. Oduyoye, a media relations manager for the firm, confirmed Monday.</p> <p>The name will be changed to simply J.P. Morgan Securities, beginning with all customer statements and communications beginning February 1.

JPMorgan Chase agreed to acquire Bear Stearns for $2 a share or $236 million a share in mid-March 2008, a steep discount to its book value of $84. At the time, Bear appeared to be on the verge of financial collapse. The price was raised to $10 a share a few days later, after shareholders fought back.

All other uses of the name Bear Stearns by JPMorgan Chase have cease, Oduyoye confirmed.

The move comes roughly 86 years after  Joseph Bear,
Robert Stearns, and Harold Mayer pooled $500,000 in capital and
founded the equity trading house  that would be named after the first two, the Financial Times first reported.
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Well, you can change the name "Bear" to "rose" or "perfume", but the Bear under any other name will still be pooping in the financial woods and the odor remains the same.
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