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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: Lehman Brothers

Lehman Brothers stories: 153 news summaries

21 - 40 of 153 Stories | << Prev 1 2 3 4 5 6 ... 8 Next >>

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 Lehman CEO 
 Sells Mansion to 
 Wife—for $100 

But Fuld's attempt to evade creditors may not work

Jan 26, 09 6:44 AM CST
(Newser) - The housing market is weak, but the $13 million mansion of fallen Lehman CEO Richard Fuld on the Florida coast fetched just $100 last November, reports Reuters. So who forked over the C-note for the seaside property? Fuld's wife Kathleen, famous for carrying her Hermès purchases in generic shopping... More »

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Florida • real estate • bankruptcy • Lehman Brothers • Richard Fuld • Kathleen Fuld

 Lehman Collapse 
 Leaves Goats in the Lurch 

Goat-grazing biz among the herd of creditors burned by bankruptcy

Jan 24, 09 6:15 AM CST
(Newser) - Lehman's collapse has left creditors from Caribbean laborers to the world's biggest banks fighting for a share of what little cash remains, the Wall Street Journal reports. One California business that hires out goats to munch shrubs was shocked to learn that it may face ruin because of the bankruptcy... More »

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bankruptcy • lawsuit • Lehman Brothers • goats • Chapter 11 • creditor

Lehman to Spin Off $4.5B Private Equity Arm

A strategy of hold and manage, rather than sell into weakness, has emerged

Jan 9, 09 8:29 AM CST
(Newser) - Lehman Brothers, bleeding out but not quite dead, will spin out its private equity arm into an independent firm, which will take on new investment from a South African billionaire investor, the Wall Street Journal reports. The Lehman estate will retain a small interest in Lehman Brothers Merchant Banking, which... More »

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private equity • bankruptcy • Lehman Brothers • retirement fund • spin-off • financial crisis

 Just How Bad Was 2008? 

The worst anyone under 70 has seen, Bloomberg reports

Dec 31, 08 4:37 PM CST
(Newser) - If you're under the age of 70, 2008 was probably the worst year you've lived through, reports Bloomberg. Here's why:
  • In housing, which started the downturn, median resale prices saw a 13% decline, the largest since the 1930s.
  • Foreclosure rates reached 2.97%, and mortgage delinquency hit 6.
... More »

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stock market • housing market • Bear Stearns • Merrill Lynch • recession • Lehman Brothers • securities • mortgage backed securities

Sloppy Lehman Bankruptcy Killed Billions in Value

Speedy process leaves creditors hanging

Dec 29, 08 1:40 PM CST
(Newser) - Had Lehman Brothers been more careful in its bankruptcy filing, it could have held on to as much as $75 billion that was destroyed in the process, the firm’s head restructuring agents say. A better-planned filing would have allowed the sale of some assets outside of court proceedings and... More »

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Wall Street • contracts • bankruptcy • asset management • Lehman Brothers • default • bank failure • financial crisis

analysis

Financial PR Firms
Walk a Thin Line


Dec 22, 08 6:24 PM CST
(Newser) - An insider trading case has exposed the potentially problematic relationship between PR companies and corporate clients, and it could have dire consequences for at least one firm, Reuters reports. A Lehman Brothers employee is charged with leaking merger information he got from his wife, a partner at the Brunswick Group... More »

MORE ABOUT:
insider trading • mergers and acquisitions • Lehman Brothers • public relations • confidential information • confidentiality • media strategy

OPINION

 Hirst Is Art World's Lehman 

September mega-sale coincided with investment bank's collapse

Dec 22, 08 12:21 PM CST
(Newser) - With the collapse of Lehman Brothers having opened an “anxious new era” in financial circles and among consumers at large, the auction that brought artist Damien Hirst $166 million on Sept. 15—the very day Lehman went bust—clearly marks the division, Martin Gayford writes for Bloomberg. By year’... More »

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art market • art • Sotheby's • Damien Hirst • crash • Lehman Brothers • financial crisis

SEC: Ex-Lehman Broker
Stole Inside Info From Wife

$4.8m conspiracy earned cash, luxe rewards

Dec 19, 08 7:54 AM CST
(Newser) - A former Lehman Brothers broker was charged yesterday in a $4.8 million insider trading scheme built on his PR-exec wife’s knowledge of upcoming mergers, the AP reports. Matthew Devlin passed information to friends and associates (including former Playboy model Maria Checa), and won cash, luxury goods, and tuition... More »

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insider trading • SEC • conspiracy • Lehman Brothers • public relations • securities fraud

ANALYSIS

Feds Let Lehman Fail—Then Loaned It $138B Anyway

Paulson & Co. say cash was to 'facilitate orderly wind-down' of trades, but questions persist

Dec 16, 08 9:20 AM CST
(Newser) - After refusing to bail out Lehman Brothers, the Federal Reserve funneled $87 billion to a subsidiary through JPMorgan Chase on Sept. 15, then another $51 billion the next day. The feds say they aimed to “facilitate an orderly wind-down” of Lehman’s broker-dealer operations, Andrew Ross Sorkin writes in... More »

MORE ABOUT:
Wall Street • Barclays • Henry Paulson • Lehman Brothers • bailout • JPMorgan Chase • financial crisis • Andrew Ross Sorkin

 Merrill Boss Seeks 
 $10M Bonus 

Directors unlikely to comply given public sentiment

Dec 8, 08 4:01 AM CST
(Newser) - Merrill Lynch narrowly escaped extinction this fall, and CEO John Thain is seeking an end-of-year bonus of as much as $10 million for keeping the company alive, reports the Wall Street Journal. Merrill's board of directors—acutely aware of public scrutiny—appear unlikely to fork over that kind of package... More »

MORE ABOUT:
executive compensation • Bank of America • Merrill Lynch • Lehman Brothers • bonuses • John Thain • financial crisis • recession depression

 Big Players Reel 
 in Charity Spending 

Drop-off in corporate giving leaves groups scrambling

Nov 25, 08 12:14 PM CST
(Newser) - Charities used to getting much of their money from major corporations and private foundations are feeling the economic downturn, the Wall Street Journal reports. Bill Gates’ foundation plans to give fewer grants next year, and other large donors are honoring existing pledges but refusing to make new ones. “You... More »

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New York • Bear Stearns • Merrill Lynch • charity • Lehman Brothers • nonprofit • AIG • Hank Greenberg • Bill and Melinda Gates Foundation • Sheldon Adelson • financial crisis • David Koch

ANALYSIS

Wall Streeters Question Geithner's
Role in Crisis

Treasury pick has been at the table all along

Nov 25, 08 8:51 AM CST
(Newser) - Markets surged yesterday when Barack Obama announced that Timothy Geithner would become treasury secretary as part of an all-star economic team. But Wall Street actually harbors some skepticism about Geithner, writes Andrew Sorkin in the New York Times. As chair of the New York Fed, Geithner was the point man... More »

MORE ABOUT:
Lehman Brothers • AIG • Treasury Department • Federal Reserve Bank of New York • Treasury secretary • President Obama • Timothy Geithner

 Financial Industry 
 May Shed 350K Jobs 

So far, 170,000 positions have been cut worldwide

Nov 21, 08 10:23 AM CST
(Newser) - Job cuts in the financial services sector could hit 350,000 worldwide by the middle of 2009, double the number so far, Bloomberg reports. "This is the financial equivalent of World War II," says the CEO of a major headhunting firm. If he's right, by summer, the industry... More »

MORE ABOUT:
Citigroup • Lehman Brothers • job cuts • financial sector • investment banks • JPMorgan Chase

CEOs Took Billions
Off the Table Before Bust

15 financial, home building bosses made over $100M

Nov 20, 08 8:55 AM CST
(Newser) - Investors have lost some $9 trillion since last year’s stock market peak, but at the center of the maelstrom, CEOs of some of the worst-performing companies are sitting pretty. Fifteen financial services and homebuilding CEOs have accumulated more than $100 million each in the past 5 years in cash... More »

MORE ABOUT:
executive compensation • Goldman Sachs • CEO • Bear Stearns • Lehman Brothers • financial services • Toll Brothers • financial sector • Richard Fuld

 Major Works 
 Fail to Sell 
 at Christie's 

Dismal auction season continues as Bacon fails to find buyer

Nov 13, 08 9:16 AM CST
(Newser) - The art world bust continued last night at the Christie's contemporary auction in New York, where almost a third of the 75 works on the block went unsold. Not a single collector bid for the highlight of the sale, a self-portrait by Francis Bacon estimated to sell for around $40... More »

MORE ABOUT:
art market • contemporary art • art • Christie's • Francis Bacon • Lehman Brothers • art auction • Richard Fuld

 Disgraced Lehman CEO Fired 

Face of the financial crisis 'terminated,' will stay on board of directors

Nov 6, 08 3:13 AM CST
(Newser) - Lehman Brothers boss Richard Fuld, who led the giant 158-year-old Wall Street brokerage firm into bankruptcy, has been abruptly terminated. The 62-year-old Fuld, who earned $484 million from Lehman over the last eight years, won't receive a bonus or severance payments, but will keep his salaried post on the board... More »

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Lehman Brothers • Richard Fuld • financial crisis • Avatar New York • U.S. Bankruptcy Court • Thomas DiNapoli • termination

ANALYSIS

Japan's Own Banking Crisis Informs Current Power Play

Segue to international market could bolster declining profits

Oct 23, 08 2:27 PM CDT
(Newser) - Japanese banks, which just years ago needed US investors to save them from bankruptcy, are using the current crisis to scoop up low-priced international firms. The timing is perfect for the Asian banks, desperate to bolster profits limited by a saturated domestic sector, the Financial Times reports. Though expansion may... More »

MORE ABOUT:
Japan • Morgan Stanley • Lehman Brothers • banks • banking industry

 Paulson: 
 I'd Do It 
 All Again 



Treasury secretary defends his actions in Times sit-down

Oct 23, 08 7:47 AM CDT
(Newser) - Does Henry Paulson have any regrets about his widely-panned handling of the financial crisis? “I could have seen the subprime problem coming earlier,” he allows, before quickly adding, “I’m not saying I would have done anything differently.” Critics see things differently, of course, so Paulson... More »

MORE ABOUT:
Henry Paulson • Lehman Brothers • bailout • financial crisis

MARKETS

 Stocks Rally, Clearing 9,000 

Bernanke urges more fiscal stimulus

Oct 20, 08 3:33 PM CDT
(Newser) - Stocks extended earlier gains with a late-session rally today as Ben Bernanke voiced support for a new fiscal stimulus package and a key indicator showed a loosening in the flow of credit, MarketWatch reports. The Dow rose 413.21 to 9,265.43, the first time it has closed over... More »

MORE ABOUT:
Ben Bernanke • Dow Jones • General Motors • Lehman Brothers • Nasdaq • S&P 500 • Libor • financial crisis

US Probes of Lehman May Include Fuld Subpoena

NY, NJ prosecutors convene grand juries to investigate stock-offer fraud

Oct 17, 08 2:18 PM CDT
(Newser) - Lehman Brothers is getting the evil eye from three different US attorneys, who have convened grand juries to investigate the failed investment bank, Bloomberg reports. Prosecutors are particularly interested in a $6 billion stock offering made in June, and suspect Lehman was not straightforward with investors about the financial health... More »

MORE ABOUT:
US attorney • investigation • bankruptcy • Lehman Brothers • credit crisis • grand jury • Richard Fuld

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