May as well add these bums to the Hall of Shame®.
Lehman, an innovator in global finance, serves the financial needs of corporations, governments and municipalities, institutional clients, and high net worth individuals worldwide. Founded in 1850, Lehman Brothers maintains leadership positions in equity and fixed income sales, trading and research, investment banking, private investment management, asset management and private equity. The Firm is headquartered in New York, with regional headquarters in London and Tokyo, and operates in a network of offices around the world.
2008-06-10: Lehman's Property Bets Are Coming Back to Bite
The stunning $2.8 billion second-quarter loss Lehman Brothers Holdings Inc. announced Monday stemmed in part from two big real-estate investments made at high prices near the top of the market that are coming back to bite the investment bank.
Lehman's near-term fate depends in large part on whether it can attract buyers for the assets and securities in its commercial real estate portfolio, valued at $40bn at the end of May.
With the end of the New York company's fiscal third quarter less than two weeks away, some analysts are girding for a loss of $1.8 billion or more, instead of the modest profit they previously expected. If the dour projections come true, Lehman's losses since the start of March would total at least $4.5 billion -- or more than the firm churned out in profit during fiscal 2007.
2008-08-28: Lehman Eliminating as Many as 1,000 Jobs
Lehman Brothers Holdings Inc., the investment bank that's trying to shed mortgage assets and raise capital, is poised to eliminate as many as 1,000 jobs, or about 4 percent of its workforce, in the fourth round of cuts at the firm this year, people familiar with the matter said.
This is fu**ing embarrasing!
2008-09-09: Lehman Shares Fall After Talks With Korean Bank End
Lehman Brothers Holdings Inc. fell a record 45 percent in New York trading after talks about a capital infusion from Korea Development Bank ended. The Wall Street firm is continuing to negotiate with other potential investors, a person briefed on the matter said.
The Korean bank is one of several companies that Lehman, the fourth-largest U.S. securities firm, has been in discussions with in recent weeks, said the person, who declined to name the other potential bidders. The New York-based bank is also continuing talks with private-equity firms interested in buying its asset-management business, the person said.