Management “announced” over the weekend that there was no way the company was going to “as is” for much longer.  They do not intend to sell them to a “wirehouse” (read that as: they’ve already been turned down by a couple because of low average production) but they see no way that they can remain independent.  The IPO is definitely off!  Its a replay of Gruntal.  Management is going to look out for themselves. 

can anyone post a link to the story, i have a few buddies there.

Joe B is the kiss of death

[quote=badmove?]

can anyone post a link to the story, i have a few buddies there.

Joe B is the kiss of death

[/quote]

For a number of years Joe B rode the supertrain from Princeton every morniing and evening--a train loaded with major players in Wall Street.

He is such a huge man that everybody notices him, and he was somewhat "famous" as a LaCrosse player so he ended up with a lot of "friends in high places" which has helped him become so visible.

It's not Joe that is the problem at Ryan Beck, it's the reputation for being shady that Ryan Beck had BEFORE dancing with Gruntal.  It was amazing that the two firms didn't decide to form a third name, or even operate as Gruntal instead of Ryan Beck.

Add the dynamic that retail brokerage is dying and you're faced with the harsh reality that no matter what  you do it ain't gonna work.

I predict that the biggest implosion will occur with the venture capitalists who bought LPL--pure low production retail is the surest way I can think of to go out of business.

Maybe they bought it as a tax shelter.