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Piper Jaffray Companies Message Board

  • pharris612 pharris612 Dec 17, 2008 5:07 PM Flag

    Piper cut some jobs today

    Piper cut about 60 jobs today on an already ultra-lean staff. Executive year-end bonuses were not affected, much to the relief of the executives. Such a unique cultural mentality compared to the rest of the competition....or is it? Well, this board won't even exist at this time next year so it is a moot point really.

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    • pharris612 are you still here? Just curious to get your thoughts on Monday's numbers and what to expect. To me, in this environment, their business should really be hurt in 09 as much or more than in 08. At 29.30 per share it still seems way overvalued given 09 estimates of .50 per, which I would be shocked if they actually hit that. That would mean that the financial picture got much better in the second half of 09, which I am seriously doubting it will since unemployment is accelerating to double digits. I could see this stock going to 10.00 in a few months they way the financials are detiorating so quickly.

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