Lehman (LEH)

rffrydr · Posted: Wed Sep 19, 2007 6:50 am Post subject: Lehman (LEH)

The most mortgage exposed investment bank brings cheers before the Fed Cut:

http://www.ft.com/cms/s/0/63bda490-6534-11dc-bf89-0000779fd2ac.html

HenryTo · Posted: Sat Sep 06, 2008 9:47 am Post subject:

The inevitable bailout of the GSEs should make Lehman a more attractive takeover target:

http://www.bloomberg.com/apps/news?pid=20601087&sid=anruGKcMMjsc&refer=home

HenryTo · Posted: Fri Sep 05, 2008 9:22 am Post subject:

Korea Times on the proposed Lehman acquisition by the KDB:

http://www.koreatimes.co.kr/www/news/nation/2008/09/123_30633.html

HenryTo · Posted: Fri Sep 05, 2008 12:01 am Post subject:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aQjsXBJ4uN1Y

HenryTo · Posted: Wed Sep 03, 2008 9:01 am Post subject:

Getting close to a deal:
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Report: KDB seeking 25 percent of Lehman Brothers
Wednesday September 3, 7:12 am ET
By Kelly Olsen, AP Business Writer
Report: KDB makes proposal to acquire 25 percent of Lehman Brothers

SEOUL, South Korea (AP) -- State-owned Korea Development Bank has made a proposal to acquire 25 percent of U.S. investment bank Lehman Brothers for as much as $5.3 billion, a newspaper reported Wednesday.

The Chosun Ilbo, South Korea's largest mass-circulation daily, reported that KDB said in the proposal that it would buy the stake by forming a consortium with other South Korean banks and is awaiting a response from Lehman.

The paper quoted a financial source it did not identify. KDB, which was South Korea's sixth-largest bank by assets as of the end of last year, said it had no comment on the report. Lehman Brothers' office in Hong Kong, which handles press relations for South Korea, also declined to comment.

The report came one day after KDB said it is in talks with Lehman for a possible acquisition, confirming weeks of speculation over its intentions amid expectations the venerable Wall Street institution is in dire need of a capital injection.

KDB Governor Min Euoo-sung told reporters Tuesday that the talks had hit a snag over price, saying "we have not been able to narrow differences with the Lehman side."

Min, who was CEO of Lehman Brothers' South Korean operations until taking the helm of KDB earlier this year, also said KDB was trying to establish a consortium with private banks for the acquisition.

He did not indicate how much of a stake in Lehman the banks were seeking to obtain or if the private banks were South Korean.

A spokesman for Lehman Brothers Holdings Inc., the fourth-largest U.S. investment bank, declined Tuesday to comment on Min's remarks.

The Chosun Ilbo said that South Korea's Woori Financial Group and Shinhan Financial Group were strongly considering joining in the acquisition with KDB.

Woori spokesman Hong Seung-hyun said Wednesday that it had received no offer from KDB to join a consortium. A spokesman for Shinhan also said it has no intention to participate.

Spokesmen for other major South Korean banks Kookmin Bank and Hana Bank said Tuesday they had no plans to invest in Lehman.

The Chosun Ilbo report said that the proposal called for paying between 5 trillion won ($4.3 billion) to 6 trillion won ($5.3 billion) for a 25 percent stake, though it could be expanded later to as much as between 40 percent to just under 50 percent.

Lehman has said that it wants to maintain its current management lineup following any acquisition, according to the report.

Any deal would require South Korean regulatory approval.

The Chosun Ilbo said that KDB's competitors include three large U.S. hedge funds, which it did not identify, British bank HSBC and an unidentified Chinese bank.

Patrick McGuinness, a spokesman for HSBC Holdings PLC in London, said it does not comment on "market rumor and speculation."

A report over the weekend in Britain's Sunday Telegraph identified China's CITIC Securities or sovereign wealth funds from Abu Dhabi and Qatar as also being alternatives to the Koreans.

Speculation has been rampant in recent weeks that Lehman Brothers could try and reach a deal for a capital injection.

Analysts project that Lehman, considered to be the most vulnerable to the credit crisis, could post losses of up to $4 billion when it reports third-quarter results in mid-September. It is expected that the investment bank will also announce a deal to raise fresh capital to help offset the losses.

HenryTo · Posted: Mon Sep 01, 2008 8:07 pm Post subject:

Korea Development Bank confirms talks with Lehman:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a4xeRmZmqv64&refer=home

rffrydr · Posted: Mon Aug 25, 2008 5:58 pm Post subject:

Things not going swimmingly with Korean Development Bank:

http://latimesblogs.latimes.com/money_co/2008/08/singapore-has-a.html

Also, Regulators said to be lukewarm. Fine time.
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Mon Aug 18, 2008 11:46 pm Post subject:

Lehman looking to unload at least parts of its asset management unit, including Neuberger Berman:

http://online.wsj.com/article/SB121910271256851255.html?mod=hpp_us_whats_news

HenryTo · Posted: Fri Aug 15, 2008 2:00 am Post subject:

Soros ups the ante on the shorts at Lehman - boosting his 10,000-share stake to 9.5 million shares on a quarter-over-quarter basis (as of June 30, 2008):
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Soros boosts Lehman stake to 9.5 mln shares-filing
Thu Aug 14, 2008 6:16pm EDT

WASHINGTON, Aug 14 (Reuters) - Billionaire investor George Soros hiked his stake in Wall Street firm Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) to 9.5 million shares as of June 30 from 10,000 shares, according to a U.S. regulatory filing on Thursday.

Soros disclosed the quarter-over-quarter increase in a filing with the Securities and Exchange Commission.

Soros raised his stake in Lehman ahead of a turbulent month for the investment bank, whose shares plunged in mid-July amid a broader sell-off in financials sparked by concern about government-backed mortgage companies Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz).

Lehman shares rose 63 cents, or 4.1 percent, to close at $16.20 before the news. They are down 18 percent since the end of June and off 75 percent so far this year.

A Lehman Brothers spokesman declined to comment. Officials at Soros' fund could not immediately be reached.

Based on Lehman's share count in its most recent quarterly filing, the 9.5 million shares would be equivalent to a 1.4 percent stake.

HenryTo · Posted: Wed Aug 13, 2008 2:14 pm Post subject:

Lehman in talks to sell real estate assets to BlackRock:

http://www.bloomberg.com/apps/news?pid=20601087&sid=avq8Su7sXcWM&refer=home

rffrydr · Posted: Tue Jul 01, 2008 9:06 pm Post subject:

Always a bull market in something.
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Tue Jul 01, 2008 2:06 am Post subject:

Used copies of this book are now selling once again:

http://www.amazon.com/Greed-Glory-Wall-Street-Lehman/dp/158567088X/ref=pd_bbs_9?ie=UTF8&s=books&qid=1214899173&sr=8-9

HenryTo · Posted: Mon Jun 30, 2008 1:20 pm Post subject:

Rumors of a "take-under" of Lehman. At the rate events are transpiring, I believe it is very difficult for LEH to "go it alone" going forward:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aWJH7g4l_bCI&refer=home

rffrydr · Posted: Thu Jun 12, 2008 10:37 am Post subject:

Hintz, former CEO on the various cultures of the business and future transformation of these investment houses--back to the past.

http://media.bloomberg.com/bb/avfile/Economics/On_Economy/vW0eh4WpBaO4.mp3
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Today is the Tomorrow you worried about Yesterday!

HenryTo · Posted: Thu Jun 12, 2008 7:39 am Post subject:

Stock down about 5% as I am typing this - after having been down as much as 9% earlier.
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Lehman Bros. CFO Callan, COO Gregory ousted from posts
9:29 AM ET 6/12/08 | Marketwatch

NEW YORK (MarketWatch) -- Lehman Bros. Holding said Thursday that Chief Financial Officer Erin Callan and Chief Operating Officer Joseph Gregory are leaving their posts, the latest victims of the credit crisis swirling across Wall Street, laying waste to balance sheets and thinning the ranks of top executives.

Lehman (LEH) said Bart McDade would replace Gregory, while Ian Lowitt has been tapped to replace Callan.

Lehman stock has been buffeted in recent months as investors question the firm's capital position and its transparency amid the ongoing credit crisis.

Callan, who had served as the firm's chief financial officer since December 2007, will be rejoining the investment-banking division in a senior capacity, the firm said in a press release.

Lehman said Monday that it sold $130 billion in assets in recent months, reducing leverage, but analysts and others said questions remained about the brokerage firm's illiquid holdings and how it has valued some of those exposures.

Lehman reported a quarterly net loss of $2.8 billion Monday and unveiled plans to raise $6 billion by selling new shares and preferred securities.

HenryTo · Posted: Wed Jun 11, 2008 11:28 am Post subject:

Larry Fink discloses that BlackRock has taken an equity stake in Lehman's latest $6 billion offering:

http://www.marketwatch.com/News/Story/Story.aspx?guid=%7b940C2884-ACFD-42D9-ABAE-AA0F339D5EB3%7d&siteid=yhoof2