A word on Lehman's

Lehman's went bankrupt this morning, and they started sending people home at about 10:00. 

This includes about 70+ Americans here on work permits.  Their last paycheck was in August and that's that.  There's no money.  No severance.  No notice period.  Just that's that.

Their wp is tied to a company that doesn't exist anymore, some are in corporate housing that doesn't exist anymore, few of the other banks can take them in because they are in trouble themselves, and they are a long way from home.

Of course UKBA is not going to do anything cruel, but you have to admit that what's happened is a lot for a family to endure.  I hope that some of you will include their well-being in your prayers.  It's got to be tough on a family to have the plug pulled and to have to find their way back stateside on their own.

Wow, with all the other things I've had to worry about today with regards to Lehman Brothers, I never thought of this.  Thanks for posting.

Oh wow. Poor guys! 

This story among the other Wall Street stories are all that is on the news today here in the States.  When you are worried about your own finances you do not think about all of the people that were sent home with no jobs.  Not to mention the people on a work permit who know have to find a way home at their own cost  . 

Really puts things into perspective as I'm here worrying about buying extra packets of dry ranch dressing mix to take with us on our move to the UK in two weeks.   

Dear Lord, I never even imagined the impact like that. So sad! I'll definitely keep them all in my prayers. I thought it was horrible when my Dads airline (ATA) went out of business with absolutely no warning in April..a lot of family friends lost their homes, and even my father has had to leave our home and is now working up in Michigan for an airline there. I thought it was bad enough him and my mom having to live apart now because of it..but I've just realized how blessed we truly are. :/

ancm! You're taking dry rance...I'm packing 3 giant ranch bottles!

They have some leeway, thanks God...the rule state that they must leave the UK or make a fresh application 'as soon as practically possibly', and in realisty that is about three months.  What a nightmare.

Vicky

Its sad and a horrible situation for anyone to be in.

I just hope it doesn't get any worse.

That's so horrible. My heart goes out to those families.

crikey, you don't think of things like that when you hear about it the news.

Thanks to those who posted here.  Seeing your concern was reassuring to me.

 

The poor workers & their families.  At least they have that little bit of leeway (if they can take advantage of it).   

There may be some good (or not so bad news). Barclays has come back to the table and negotiated to purchase the positive assets of Lehman's, (wisely, non of the sub-prime crap), which may be able to save some 10,000 jobs (at least initially). Not sure how many, if any of the UK staff this will affect, but, word is now there is more hope that the Sept 20th paycheck may be forthcoming, after all.

Fingers crossed. Prayer beads counted.