Bear Stearns:Thursday reported a fourth-quarter loss of $854 million, or $6.90 a share, compared with net income of $563 million, or $4 a share, in the year-ago period. The company said it wrote down about $1.9 billion in mortgage inventory net of hedges, which reduced fourth-quarter earnings by $8.21 a share. Bear Stearns said members of the executive committee will not receive any bonuses for 2007. "We are obviously upset with our 2007 results, particularly in light of the fact that weakness in fixed income more than offset strong and, in some areas, record-setting performance in other businesses," said James Cayne, chairman and chief executive officer, in a statement.