lehman-brothers
Poorly-Timed Lehman Weddings In Times
Ryan Tate · 09/15/08 12:48AMLehman Brothers IT guys still have to work Monday
Nicholas Carlson · 09/14/08 10:37PM158-year old investment bank Lehman Brothers declared bankruptcy Sunday after banks Bank of America and Barclays refused to bail it out without government backing. But that doesn't mean anybody — including the IT guys — is getting the day off Monday. "We are counting on you to be at work on Monday and ready for business as usual," writes Lehman managing director Hari Gopalkrishan in an email obtained by Wall Street gossip blog Dealbreaker that we've copied below. In case your curious, popular lore has it that the last song Titanic's musicians played while the ship went down was "Nearer My God to Thee."
Food Cart Guy Does His Part To Save Lehman Brothers
Moe · 09/12/08 04:19PMYesterday's Wall Street Journal featured a story about Lehman Brothers wherein the paper sent a reporter out to eavesdrop around the bank's headquarters. "It's over, man...unless we get bought out in the next 24 hours, it's over," they quoted a "young man" as saying to someone on his cell phone. Then over by a "fast food cart" the reporter quoted one of three men wearing Lehman badges discussing the future of all capitalism in the event that the government decides to stop printing money to rescue banks whose stocks have been mercilessly pointlessly attacked by all those greedy/fearful predatory/lemminglike enemies of capitalism known as "capitalists," asking: "At some point, where does it stop?" Well here's where it stops, bro: your egg and cheese. They don't serve them with a "side of digital recorder" around here anymore.The food cart guy knows that whispers like the ones he hears outside are self-fulfilling prophecies in an irrational era like the modern ones, so he's shutting off the coffee spigot to reporters descending on the area to cover the Lehman crisis! You gotta wonder why he cares though. I mean, sure the impending layoffs at Lehman will have some "trickle-down" effect. But in lean times won't a larger percentage of bankers be eating from the food cart in lieu of whatever fancy hotels they've been patronizing on the company dime? Ha ha ha, or maybe that's just how I wish "lean times" worked at publicly traded companies. In any case I have another theory: the food cart guy is trying to buy Lehman Brothers. Sure 24,000 employees is a little ambitious, but Lehman stock is off 93% and at least you can read the food cart's balance sheet. Or maybe the food cart guy is just a decent guy. Photo Of The Day [Portfolio] Credit Crisis Strains Government's Options [WSJ]
What You'll Get With Your Lehman Brothers Purchase
cityfile · 09/12/08 11:30AMIf you're JP Morgan CEO Jamie Dimon or Bank of America chief Ken Lewis and you're conferring with your lawyers today about making a bid for Lehman Brothers, allow us to show you one other asset that will (presumably) come with the purchase: the Lehman jet. Sure, you guys already have a few planes at your disposal (see here for Dimon's ride), but the Bombardier BD-700 Global Express is super-sweet ride. And it's the same exact model that Oprah has. Click here for a larger picture of the plane.
Domain Squatters Keep Busy
cityfile · 09/12/08 09:31AMWSJ Spies Roam Streets
Ryan Tate · 09/12/08 09:09AMSharp-eyed readers of this morning's Wall Street Journal may notice that editor and Briton Robert Thomson has imported to the financial paper not just the starchy crispness of his old Financial Times but a dash of London's Fleet Street, as well. Read to the end of the front-pager on Lehman Brothers shopping itself and you'll find, as Daily Intelligencer did, that the Journal has truly redefined what it means by "Heard On The Street." In addition to being the title of the paper's bread-and-butter finance column, the phrase now literally describes how Journal reporters collect information. From the article:
Dick Fuld's Assistant Keeps a Positive Attitude
cityfile · 09/12/08 08:59AMLehman Deathwatch
cityfile · 09/12/08 06:29AMStreet Talk
cityfile · 09/12/08 05:11AMLehman Brothers sale psychically predicted by Wikipedia editor
Jackson West · 09/11/08 09:00PMFinancial giant Lehman Brothers is in trouble thanks to large holdings in the market for subprime mortgage securities. The company's stock is dropping like a rock, and the company is looking at a total of $4 billion in writedowns on bad debt. Meanwhile, edits to the Wikipedia page have shown a volatile but largely inverse relationship with the share price. And before a Reuters report announcing that the firm is up for sale, an editor on Wikipedia briefly included the following factoid — from the future:
The Fall of Lehman
cityfile · 09/11/08 11:30AMGoldman Sachs is not buying Lehman Brothers, contrary to reports earlier today, "reflecting concerns that integrating two investment banks would be too disruptive." With Lehman's stock now down another 40% today (and more than 70% on the week thus far), all credible offers will be taken into consideration. Interested? Please call 212-526-7000 and ask to speak to Dick. [Reuters]