Business 08( Professional The Meade Lexus Ownership Experience (4) Largett selection at new ared Pm-Owned Cerbtied Leun ietbe state ell' Caactoreentart Leurs LP Threeyeareet0Q000 was anevely Pre -grad Cerityed Lames Carvash waled vailk sew Federation Worries Collapse of Bear Stearns shakes UJA-Federation of New York. 61"flei V011itielt*MV*L4Z sad deitlevy New York/JTA T 2417 Lbws Reads- vat ' As stianee Service paced A select collection of pntntikan pre-avorted campeblive a-takes as from Wan lease returns eod purchased from private parties maintaioed at al times l'Ittbiskan's only fulkservice Lena Cettsioe Center Bear Stearns employees gave $4 million each year to the N.Y. Federation. (248) 372-7100 wwwlexusohouthfield,com Marty Rosen David Rogovein • Cellular Phones •Satellite TV Stop in and Save with our Current Specials! •Send Global International Calling Bring this ad in and also Save 25% off any one in stock accessory of your choice. • Featuring Motorola Products 0 MOTOROLA Verk011wireless 4276 Orchard Lake Rd. (at Lone Pine) West Bloomfield • (248) 681-7200 subscribe today online or phone JNonline.us .1 ,800.875.6621 A48 April 3 2008 he UJA-Federation of New York is bracing for potential fallout from the collapse of the Bear Stearns investment bank. A cloud of uncertainty is hanging over the company after a run on its bank led to its controversial sale to JPMorgan Chase for pennies on the dollar. The sale, originally for $2 a share — the price was later raised to $10 — on stock that had been worth $89 a share last December, decimated the sav- ings and retirement funds of Bear Stearns employees and wiped out salaries, the major- ity of which are often paid in year-end bonuses based on profits. The collapse could have a broad- ranging negative effect in New York, as Bear Stearns is among the 25 larg- est employers in the city. Many of its 14,000 employees are Jewish. The loss of salaries and the poten- tial for mass layoffs could put a strain on the local nonprofit world, said the New York federation's senior vice president, Paul Kane. "We feel horrible about this:' Kane said. "There were a lot of friends close to us in Bear Stearns, and this has big implications for us and others. It has huge implications for us and other nonprofits in this city" that advance. Its chairman, Alan "Ace" Greenberg, famously would act as the master of ceremionies at the federa- tion's annual Wall Street dinner, stand ing on the dais, calling out names and publicly soliciting six- or seven-figure contributions. In 2006, that banquet took in $21.5 million. Some $30 million has been pledged to the Wall Street divi- sion for the 2008 fiscal year, which ends for the federation on June 30. While the federation typically collects on 94 percent of its pledges, there is no telling how a downward spiral in the market will affect that number. The federation's total campaign is up 5 percent compared to the same period last year, with $115 million in pledges. Last year the cam- paign brought in $151 million. But the question is how the Bear Stearns collapse and its broader effect on Wall Street — analysts say that Lehman Brothers, another historically Jewish bank and significant donor to the federation — will affect the intake of dollars into the federation and the output of services it must provide to a new struggling class. The federation has readied its service agencies and is making avail- able job counseling services to those affected by the Bear Stearns crisis. Even before the collapse of Bear Stearns, the broader dip in the economy already had led to an increase in demand for services in New York. In the last three months, the Metropolitan Council on Jewish Poverty opened 40 cases due to the sub-prime mortgage crisis. The FEGS Health and Human Service System has seen about a 20 percent increase in cases at its Brooklyn Resource Center, which serves a largely Russian clientele. The increase has come primarily from individuals in support positions in the finance industry and others who are worried about losing their jobs and seeking other opportunities. 9 '!=1 Charitable Culture Bear Stearns, which lists philanthropy as one of its five guiding principles, is among the most charitable firms on Wall Street, donating about 4 percent of its profits to charity each year, Kane said. He noted that the federation is one of its largest recipients, bringing in about $4 million annually in contri- butions from Bear Stearns employees. The federation garnered about $40 million through its Wall Street division last year — a number that has soared in recent years as Wall Street recovered from the post-9-11 recession. Bear Stearns was at the center of