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Started By
Message
Posted on 8/22/08 at 11:57 am to skc4lsu
Gotta agree I def at the Seoul Brothers
Posted on 8/22/08 at 12:48 pm to MileHigh
quote:
I stole it.
That was valuable intellectual property you stole. The word is now out--MileHigh is a felon. This probably explains why you're still working at Wendy's.
Posted on 8/22/08 at 12:52 pm to Doc Fenton
quote:
The word is now out--MileHigh is a felon.
milehigh was a felon as soon as he could walk.
Posted on 8/22/08 at 1:09 pm to Colonel Hapablap
quote:
milehigh was a felon as soon as he could walk.
Blee dat
quote:
This probably explains why you're still working at Wendy's.
actually think I might get fired soon!
This post was edited on 8/22/08 at 1:12 pm
Posted on 8/22/08 at 1:15 pm to MileHigh
Apparently, working at Wendy's is better than working at LEH
Posted on 8/23/08 at 4:20 am to MileHigh
quote:
actually think I might get fired soon!
"It's all political." At least that's my favorite phrase when I get fired.
In other news, according to Fortune, " Lehman's Clock Is Ticking":
quote:
...
According to Bove, if a deal doesn't materialize by Monday, then "Lehman is in play." He suggested a stock price of around $20 might get a deal done. Given Lehman's recent lows, and the memory of what happened to Bear Stearns earlier this year, that might not sound like a bad price.
Despite the ominous warning, it's unlikely that Lehman would become the target of a hostile bid. For one thing, Lehman employees own about 30% of the firm's shares.
Still, Fuld has been trying to draw an investor willing to pay a 20% premium to book value, Bove said - or in the low $40 range. While Lehman shareholders, would surely prefer $40 to $20 a share, Bove scoffed that the firm "doesn't have a prayer" of getting the higher price.
For Fuld, time may be running out.
A price of $40 per share!?!
Lehman did it to themselves, with Callan and Fuld just acting like typical salesmen...
quote:
Up to this point, Lehman management has taken a very different approach to this crisis from its rivals at Citi and especially Merrill Lynch. Citi and Merrill's leaders have relentlessly struck deals to sell troubled portfolios and reduce their balance sheet issues, even financing transactions at favorable terms to get risky assets off their books.
... Lehman is telling the market that CEO Fuld hasn't made a clean break with a failed strategy and wants only another investor to help it through a proverbial rough-spot. That's not a message investors are likely to welcome.
But for the optimists out there like myself, for financial institutions willing to admit their mistakes, there is still global capital aplenty ready to wash up on American shores...
quote:
The past year has been busy for sovereign wealth funds and financial companies hit hard by the collapse of the credit bubble. Singapore's Temasek has made two multibillion-dollar investments in Merrill Lynch (MER, Fortune 500), the state-run China Investment Corp. has put $5 billion into Morgan Stanley (MS, Fortune 500) and Abu Dhabi has forked over $7.5 billion for a big hunk of Citi (C, Fortune 500).
Thank you sovereign wealth funds. Americans pay money for oil and imports, and the money flows right back into our companies, who hire more American workers, as well as into crappy U.S. debt securities that keep our economy humming with low interest rates. Sweet.
Posted on 8/23/08 at 11:17 am to Doc Fenton
quote:
Thank you sovereign wealth funds. Americans pay money for oil and imports, and the money flows right back into our companies, who hire more American workers, as well as into crappy U.S. debt securities that keep our economy humming with low interest rates.
Yeah its a double win situation for us. I don't get why people get so pissed off.....
Posted on 8/23/08 at 1:43 pm to MileHigh
It will settle eventually (the never-ending credit, that is). Let's just hope it's not one mega-event (GSE boom) that does it, which would be quite an event to behold.
Posted on 8/23/08 at 3:13 pm to kfizzle85
I'm still crossing my fingers hoping for Paulson to take over Fannie and Freddie and then chop them up into oblivion. Each piece must be hidden at the corners of the Earth/depths of the oceans, so that they may never be reconstituted under implicit government protection again.
Posted on 8/25/08 at 2:18 pm to Doc Fenton
From Fortune's "Daily Briefing" by Colin Barr ( LINK):
quote:
Daily Briefing
By Colin Barr
August 25, 2008, 10:01 am
Lehman chief under fire
The big Lehman Brothers (LEH) story Monday is that CEO Dick Fuld is on the ropes. The Observer newspaper, citing “well-placed sources within the bank,” reported over the weekend that Fuld faces a “planned coup” that will force him out by year-end. ...
Posted on 8/26/08 at 6:42 am to Doc Fenton
quote:
I'm still crossing my fingers hoping for Paulson to take over Fannie and Freddie and then chop them up into oblivion. Each piece must be hidden at the corners of the Earth/depths of the oceans, so that they may never be reconstituted under implicit government protection again.
dare I dream?
Posted on 9/2/08 at 5:39 pm to igoringa
Posted on 9/9/08 at 1:41 pm to kfizzle85
From CNNMoney/Fortune's, " Lehman in Free Fall Again":
From Reuters ( LINK):
quote:
Shares in Lehman plunged as much as 44% in heavy trading Tuesday after Dow Jones reported that Korean regulators said talks between Lehman and the state-backed Korea Development Bank had ended.
From Reuters ( LINK):
quote:
Lehman sinks as much as 40 percent on capital worry
Tuesday September 9, 1:15 pm ET
By Jonathan Stempel
NEW YORK (Reuters) - Lehman Brothers Holdings Inc (NYSE:LEH - News) shares sank as much as 40 percent Tuesday on concern that talks on a possible investment from Korea Development Bank had broken down and that the fourth-largest Wall Street investment bank would be unable to raise needed capital..
Shares began falling after a Dow Jones Newswires report that the chairman of South Korea's top securities regulator, Jun Kwang-woo, had said talks between Lehman and KDB had ended. A spokesman for the regulator denied the report, telling Reuters that Jun never made any such declaration.
...
"The market fears that no one will inject capital in the company," said Nick Kalivas, equity market analyst at MF Global Research in Chicago.
...
OPTIONS NARROW
Lehman Chief Executive Richard Fuld has been scrambling to raise capital as losses mount from its mortgage holdings.
The bank has been reviewing options for its Neuberger & Berman asset management unit, one of its healthier businesses, and some analysts expect it to spin off or dispose of much of its commercial real estate portfolio. Analysts have said Neuberger could fetch $7 billion to $8 billion in a sale.
Lehman had a second-quarter loss of $2.8 billion, or $5.14 per share. Analysts on average expect a third-quarter loss of $3.04 per share, according to Reuters Estimates.
...
DEBT PROTECTION COSTS RISE
On Monday, Lehman said it expected to report third-results and discuss "key strategic initiatives" on September 18.
But Citigroup analyst Prashant Bhatia on Tuesday wrote that Lehman might announce the quarterly results as soon as today because of downward pressure on its shares.
The cost of protecting Lehman debt with credit default swaps rose to 450 basis points, or $450,000 annually for five years to protect $10 million of debt, from 325 basis points on Monday, according to Phoenix Partners Group.
...
"People simply made the decision that they didn't want to be anywhere near this company because management was no longer in control of what was in the best interest of shareholders," he said.
(Additional reporting by Dena Aubin, Paritosh Bansal, Elinor Comlay, Joseph A. Giannone, Steven C. Johnson, Juan Lagorio and Richard Leong in New York; David Lawder and Rachelle Younglai in Washington, and Kim Yeon-hee in Seoul; Editing by John Wallace)
Posted on 9/10/08 at 9:44 am to Doc Fenton
Posted on 9/11/08 at 1:11 pm to kfizzle85
Only a matter of time until this sucker fails. Please tell me the feds aren't going to loan Lehman any more money.
Posted on 9/11/08 at 8:59 pm to LSUtoOmaha
Bear Stearns 2.0 tomorrow morning? [LINK]
Posted on 9/11/08 at 9:07 pm to kfizzle85
I've read that there are rumors of a Bank of America takeover of Lehman. I wouldn't be surprised if the feds helped ease this acquisition along.
Posted on 9/11/08 at 10:50 pm to Doc Fenton
I read a nice blog entry (hat tip JT) said that lehman's asset mgmt business is too nice to not be acquired.
I will immediately short BAC, if they acquire LEH. That would be two pieces of shite they acquire in short order.
I will immediately short BAC, if they acquire LEH. That would be two pieces of shite they acquire in short order.
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