Bear Stearns Exec Trades Down in Scarsdale
Gary Reback worked at Bear Stearns until the bank crumbled last year and, like thousands of others, he was laid off. Yesterday, Reback filed a lawsuit against the firm and the bank that acquired Bear Stearns, JPMorgan Chase, for denying him the $2 million bonus and $1.1 million severance package he insists he's entitled to. The unusual suit didn't earn him much sympathy from the press. (The first sentence of a Post article called him a "bonus crybaby".) But clearly times are tough for Reback.
A neighbor of the Rebacks in Scarsdale wrote in this morning to tell us that Mrs. Reback was frequently spotted driving around town in a Mercedes G-class SUV. Until recently, that is, when the Rebacks traded in the fancy Mercedes for a Honda Pilot. The horror!
"They're not the only ones," says the tipster, who we have confirmed is not part of Honda's PR team. "For the wives of unemployed bankers in Westchester, the Honda Pilot is the new 'It' car." We're guessing Honda won't be using that detail as part of one of its upcoming ad campaigns, but, hey, you never know.
