Lehman Brothers Holdings Inc. (LEH)
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Hi,
wie war das denn damals bei MCI WorldCom?? Gingen da die Aktionäre leer aus, klar heute ist es durch die staatl. Aufsicht sicherlich ein wenig anders.
Mich würde interessieren wie das damals war, würde es auch selber nachlesen nur wo!!??
Schönen Abend und Danke
http://www.americanbulls.com/...nyTicker=LEHMQ&MarketTicker=OTC&TYP=S
Das ist ja so, als wenn der Wetterbericht jeden Tag die Schneehöhen in der Innenstadt von Berlin analysiert....
Allen einen wundervollen Tag!
hahaha
Lehman judge to weigh French affiliates settlement
LOS ANGELES, Dec 8 (Reuters) - The judge presiding over Lehman Brothers Holdings Inc' (News) s bankruptcy on Monday set a Dec. 22 hearing date to consider a proposed settlement between the bank and three French affiliates, according to court papers.
Once the settlement is approved, Lehman also seeks authority to vote its shares of Banque Lehman Brothers S.A., one of its direct subsidiaries, in favor of a sale of that business to Banque Nomura France.
Under the proposed settlement between Lehman and the three affiliates, Banque Lehman Brothers S.A., Lehman Brothers Conseil S.A. and Lehman Brothers Services S.N.C., Lehman Brothers Holdings will waive its claims entirely.
Banque Lehman Brothers, which operates Lehman's investment banking business in France and has 52 employees, will waive all but 93 million euros of claims, or the net amount remaining from the Lehman Brothers Holdings claims against the Banque Lehman Brothers claims.
(Reporting by Nichola Groom; editing by Richard Chang) Keywords: LEHMAN FRANCE/
(nichola.groom@thomsonreuters.com; +1-213-955-6755; Reuters Messaging: nichola.groom.reuters.com@reuters.net)
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Lehman Bros Diversified Arb (Ire)Fd
11 December 2008
Stock Exchange Announcement
For immediate release
11 December 2008
Lehman Brothers Diversified Arbitrage Fund (Ireland) plc (the 'Fund')
Re: Resignation of Director
The Board of Directors of the Fund (the 'Board') wishes to announce that Mr. William McCann will resign as a director of the Fund with effect from 31 December, 2008.
Enquiries:
Goodbody Stockbrokers
Aisling Murphy
+353 1 6419151
This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ISEUAORRWORUAAA
Lehman Brothers Liquidity Fund Plc
11 December 2008
COMPANY ANNOUNCEMENT
For Immediate Release 10 December 2008
Lehman Brothers Liquidity Funds plc (the Company)
Re: Appointment and Resignation of Directors
The Board of Directors (the Directors) of the Company wish to announce resignation of John Dugenske as a director of the Company with effect from 05 December 2008 and the appointment of Nick Hoar as a director with effect from the same date.
Nick Hoar (British),Managing Director, joined Lehman Brothers in 2005 as Global Head of Distribution; Cash Management. He is currently COO and CIO of Asset Management, Europe. Prior to joining Lehman Brothers, Nick worked for Morgan Stanley Investment Management between 1999 and 2005 and ran their Cash Management business in Europe. Prior to that, Nick worked for JP Morgan Investment Management where firstly he was in charge of their Marketing Group and latterly was the COO for their European institutional client business. Nick earned a BA in International Business Studies from Arizona State University.
Nick Hoar has never:
(i) had any unspent convictions in relation to indictable offences; or
(ii) been bankrupt or the subject of a voluntary arrangement, or has had a receiver appointed to any asset of such Director; or
(iii) been a director of any company which, while he was a director with an executive function or within 12 months after he ceased to be a director with an executive function, had a receiver appointed or went into compulsory liquidation, creditors voluntary liquidation, administration or company voluntary arrangements, or made any composition or arrangements with its creditors generally or with any class of its creditors; or
(iv) been a partner of any partnership, which while he was a partner or within 12 months after he ceased to be a partner, went into compulsory liquidation, administration or partnership voluntary arrangement, or had a receiver appointed to any partnership asset; or
(v) had any public criticism by statutory or regulatory authorities (including recognised professional bodies); or
(vi) been disqualified by a court from acting as a director or from acting in the management or conduct of affairs of any company.
A list of past and current directorships and partnerships held by Nick Hoar over the past 5 years is available for inspection on request for a period of 14 days from the date of this announcement from A&L Listing Limited, North Wall Quay, Dublin 1, Ireland
Enquiries:
A&L Listing Limited
Contact: Christina Fahey
Phone: + 353 1 6492738
This announcement has been issued through the Companies Announcement Service of
the Irish Stock Exchange.
SINGAPORE (Dow Jones)--DBS Bank (Hong Kong) Ltd. has been sued by a retired couple who claim there was misrepresentation and breach of duty of care when the bank sold them structured products that are now worthless, the Straits Times newspaper reported Thursday.
The couple is seeking to recover US$1.26 million they had invested in products linked to collapsed Lehman Brothers Holdings Inc. (LEHMQ) in July 2006 and April 2007, the newspaper reported, citing court documents.
The lawsuit was filed Monday in Hong Kong.
According to the paper, the couple claims DBS's relationship manager told them the investment was as safe as a fixed deposit account.
DBS Hong Kong, a unit of DBS Group Holdings Ltd. (D05.SG), declined to comment, saying it is an ongoing legal matter, according to the report.
A DBS representative wasn't immediately available for comment when contacted by Dow Jones Newswires.
Newspaper Web site: http://straitstimes.asia1.com.sg -By Singapore Bureau; Dow Jones Newswires; 65-6415-4150; djnews.singapore.bureau@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=CSwu20xok0%2BinROM%2BrVbQA%3D%3D. You can use this link on the day this article is published and the following day.
(End)......Dec 11, 2008 14:00 - e-20081210dn016927
Track this topic Print story Post comment Fills CIO spot vacant since October
By Austin Modine • Get more from this author
Posted in Government, 10th December 2008 19:26 GMT
Free Download - Comparing Data Center Batteries, Flywheels and Ultracapacitors
An ex-IT executive at the failed investment bank Lehman Brothers has been hired by the FBI to be the agency's new technology chief.
Chad Fulgham, former senior veep at Lehman, was tapped to wear the FBI's chief information officer hat, a job that's been vacant since mid-October. The FBI said in a statement that Fulgham's experience working with "cutting edge technology" and multi-national corporations fit well with the domestic intelligence agency's IT needs.
"In today's global environment, information technology remains key to how the FBI conducts its business – capturing information that can instantly be retrieved and shared as we build our investigations, providing the means to collaborate across distances, and keeping our information secure," said FBI Director Robert Mueller III in a statement.
Fulgham replaces Zal Azmi, who resigned as CIO on 17 October for work in the public sector. Like Azmi did in 2004 when he joined, Fulgham will inherit oversight of the FBI's "Triology" program, the bureau's plan to overhaul its IT networks and computers and develop an information management system.
Under Azmi's watch, the FBI sent out more than 20,000 BlackBerrys to personnel and removed barriers to searching across the bureau's previously compartmentalized information sources. Fulgham will inherit about 54 IT projects currently in development, according to the FBI.
Previous to Lehman Brothers, Fulgham worked for IBM, JPMOrgan Chase, and Arthur Anderson. He also serves on advisory boards for AT&T and Verizon and three advisory boards for Microsoft. But he's not very good about updating his Linkedin profile. ®
Solte der Kaufsignal von gestern heute bestätigt weden, dann wirst du heute eine entsprächede Reaktion in Amiland sehen. (Wenn du zu den ZAHLENDEN KUNDEN von AMERICAN BULLS gehörst kriegst du es auch rechtzeitig mit ;-) )
Gruß und auf einen dunkelgrünen Handelstag!!
Der Rettungsschirm für die Automobilbranche scheint vor Aufspannen bereits löchrig....gibt es eigentlich schon geplante Rettungsaktionen für Karl Lagerfeld und seine neue Kollektion, oder auch für den Staat Dubai mit seinen Hotelinselchen....bin gespannt, ob bald auch unsere Fussballnationalspieler gerettet werden müssen...
In diesem Sinne einen frohen 3. Advent!
hahaha
Nomura taking Lehman French operation - report
NEW YORK, Dec 11 (Reuters) - Nomura Holdings Inc (News) has reached an agreement with Lehman Brothers Holdings Inc' (News) s administrators to take over the failed U.S. financial services company's French investment banking operations and employees, the Nikkei financial daily reported.
The report on Nikkei's website said that pending U.S. bankruptcy court approval, Nomura was expected to absorb several dozen employees from the investment banking operations as early as next year.
The report said the agreement gives Nomura rights to also absorb the operations' business assets, such as information technology equipment. Nomura would not take over any trading-related assets or liabilities, according to the Nikkei report. Keywords: JAPAN NOMURA/LEHMAN
(New York Equities Desk, +1 646 223 6000)
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Lehman brokerage trustee seeks to probe collapse
NEW YORK, Dec 11 (Reuters) - The trustee handling the liquidation of Lehman Brothers Holdings Inc' (News) s brokerage unit asked a U.S. bankruptcy court on Thursday for the power to issue subpoenas to obtain documents and information from current and former employees and officers.
In papers filed in U.S. bankruptcy court in Manhattan, Trustee James Giddens said he needed 'immediate and complete access' to information from the company and the current and former employees, to investigate the events and circumstances that led to Lehman's collapse.
The law regarding brokerage liquidations, known as the Securities Investor Protection Act, specifically allows the trustee to 'investigate the acts, conduct, property, liabilities and financial condition,' of the company, the court papers said.
After his investigation, Giddens would provide a report to the court, the papers showed. Giddens said in the court filing, he received some voluntary cooperation from those at Lehman and Barclays Capital, which bought Lehman's brokerage unit, but he needs the subpoena ability to get information from potential witnesses who 'may not be willing or feel themselves able to cooperate with all requests from the Trustee.'
A Lehman spokesperson was not immediately available.
Lehman Brothers Holdings Inc, filed for bankruptcy protection on Sept. 15 in the largest U.S. bankruptcy filing in history. The trustee has been involved with transferring customer accounts to Barclays and liquidating what is left of the brokerage business.
Lehman is the focus of three grand jury investigations and several other government investigations, in which some 12 people have already been subpoenaed, Lehman's bankruptcy lawyer, Harvey Miller, said in court in October.
Giddens previously opposed a creditor request for the court to appoint an examiner, saying it would interfere with his ability to conduct his own investigation.
(Reporting by Emily Chasan; Editing by Andre Grenon) Keywords: LEHMAN/TRUSTEE
(emily.chasan@thomsonreuters.com +1 646 223 6114; Reuters Messaging: emily.chasan.reuters.com@reuters.net)
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hahaha
Lehmann Brothers Holdings Inc. zählt zu den weltweit führenden Investment-Banken. Zu den Kunden zählen institutionelle Investoren, Unternehmen, die öffentliche Hand und vermögende Privatanleger. Die Unternehmensgruppe bietet zahlreiche Kapitalmarkt-Produkte und Vermögensberatungsservices rund um den Globus an. Die US-Bank beantragte am 15.09.2008 Insolvenzschutz nach Kapitel 11. Die US-Regierung schloss dabei die zuvor in anderen Fällen geleisteten Staatshilfen bis zuletzt aus. Nach Angaben von Lehman fallen die Broker-Sparten nicht unter Chapter 11, zudem arbeiten diese Sparten weiter.
Du beschreibst eine Bank, die es in dieser Form nicht mehr gibt.
#2142
Charttechnik spielt hier keine Rolle mehr. Grenzwertberechnungen schon eher...und dieser ist absolut Null.
------------------------
Ich möchte noch einmal betonen, dass auch ich von einer kleinen gesunden Lehman-Bank in Zukunft überzeugt bin....dies wird aber definitiv keine Rolle mehr für die alten common shares spielen.
Schönes WE
Gruss
BRIEF-PBGC seeks to end Lehman retirement plan
Dec 12 (Reuters) - Lehman Brothers Holdings Inc: (News)
* The pension benefit guaranty corp says initiated court action to protect
benefits of workers and retirees of Lehman Brothers Holdings Inc
* Pbgc says pension plan is about 95 percent funded, w/ $898.2 million in
assets to cover $940.8 million in benefit liabilities
* Pbgc sees being responsible for $17.9 million of the $42.6 million shortfall
* Pbgc says seeking approval to end Lehman retirement plan
((New York Equities Desk; tel: +1 646 223 6000))
(For more news about Lehman Brothers Holdings Inc click here:)
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UPDATE 1-U.S. pension agency starts Lehman court action
NEW YORK, Dec 12 (Reuters) - The Pension Benefit Guaranty Corp (PBGC) said on Friday it has gone to court to protect the benefits of more than 26,500 workers and retirees of Lehman Brothers Holdings Inc (News) and its units.
The agency filed papers to seek approval from U.S. District Court in Manhattan to end Lehman's pension plan in order to ensure funds can be raised for the plan after Lehman asset sales scheduled for later this month, it said.
Lehman filed for Chapter 11 bankruptcy protection in September.
The PBGC, a government agency that insures workers' pensions, said that Lehman's pension plan is 95 percent funded, with $898.2 million in assets to cover $940.8 million in benefit liabilities.
If the pension plan ends, the agency said it expects to be responsible for $17.9 million of the $42.6 million shortfall.
The PBGC's move came ahead of a Dec. 22 bankruptcy court hearing on the sale of Lehman units that make up the company's investment management business. It ensures that the units being sold remain liable for the pension plan's unfunded benefit liabilities, the PBGC said.
(Reporting by Caroline Humer; editing by Jeffrey Benkoe) Keywords: LEHMAN/PENSION
(Reuters Messaging: caroline.humer.reuters.com@reuters.net; email Caroline.Humer@reuters.com; Tel: 1 646 223 6181)
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The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Fitch Withdraws Ratings of Lehman Brothers Financial Products Inc.
Fitch Ratings has withdrawn the long-term Issuer Default Rating (IDR) and counterparty rating of Lehman Brothers Financial Products Inc. (LBFP). These ratings were downgraded to 'D' and 'B/RR1', respectively, on Oct. 6, 2008 following a voluntary bankruptcy filing on Oct. 5, 2008.
The bankruptcy filings of its parent, Lehman Brothers Holdings Inc. (News) (LBHI) and affiliate Lehman Brothers Special Finance (LBSF) should have resulted in the transfer of LDFP's derivatives portfolio to its contingent manager. These filings did not give counterparties the right to terminate transactions with LBFP. However, this right became available when LBFP filed for bankruptcy protection. A number of counterparties have since exercised this right.
As a result of the bankruptcy, an administrator has been appointed and is overseeing the termination or novation of all existing trades. Any required distributions will be satisfied with capital on hand, which has historically exceeded prescribed levels. The complete wind-down of the trading portfolio may take several months to occur. During this time, Fitch does not believe that sufficient financial and transaction information will be available to maintain ratings and is now withdrawing coverage.
The following ratings are withdrawn:
Lehman Brothers Financial Products Inc.
--Long-term IDR 'D';
--Counterparty Rating 'B'.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
Fallout from Lehman Brothers collapse still spreading
Christine Seib in New York
When Dick Fuld left Lehman Brothers' headquarters at 745 Seventh Avenue for the last time on September 15, the broker-dealer he ran may have been defunct, but there were three like it still left. Three months after Lehman went bust, they are all gone and the reverberations of Lehman's collapse are still being felt across America.
All that remains of Lehman is bare bones. Two days after the bank declared itself bankrupt, Barclays bought Lehman's US investment banking business, its headquarters and two processing centres for $1.7 billion. Just over a week later, Nomura snapped up the European, Asian and Middle Eastern businesses. Last week, a management team gained control of the majority share of Lehman's coveted asset management arm.
The bank's fellow broker-dealers have also changed shape dramatically. On the day that Lehman went bust, Merrill Lynch announced that it would be bought by Bank of America in a $50 billion all-stock rescue deal. The so-called Thundering Herd had fallen into the hands of a conservative North Carolina-based financial behemoth.
The remaining two broker-dealers have become deposit-taking institutions. Fearful of another Lehman-style implosion, on September 22 the Federal Reserve gave Goldman Sachs and Morgan Stanley approval to morph into high street banks in the hope that a base of retail and commercial deposits would provide a much-needed cash buffer from the global financial storm
Lehman's surprise collapse - the market had expected the US Government to rescue the stricken bank just as it had organised the sale of Bear Stearns to JPMorgan six months earlier - set off a chain reaction around the world. The bank's default on $165 billion in unsecured debt hit investors with an estimated $120 billion in losses. The credit default swap (CDS) market, of which Lehman had been a major player, dried up. The commercial paper market, where investors had bought Lehman's debt, froze. Companies began eating up unused portions of credit lines and stashing the money away in fear that their lenders would pull their funding. As a result, banks quickly ran out of liquidity.
However, Lehman was not just Wall Street's problem. AIG teetered on the brink of collapse as investors and counterparties panicked about the insurance giant's own exposure to the estimated $60 trillion global CDS market. As a result the Federal Reserve was forced to abandon the moral-hazard high ground and hand over $85 billion in emergency money to AIG.
It took only a day for Lehman to infect mom-and-pop investors. Money market funds try to ensure that their net asset value (NAV) never slips below $1 so that they appeal to people wanting stable homes for retirement savings. But on September 16 the Primary Reserve Fund, the oldest money market fund in America, told its investors that its NAV had dropped to 97cents because of losses on $900 million worth of Lehman debt. When Primary “broke the buck”, slashing pension pots, the panic hit its zenith.
Henry Paulson, the Treasury Secretary, needed something to douse the flames in Wall Street. By September 21 Congress was considering his request for $700 billion to buy troubled assets from financial institutions. But during the two weeks that it took to approve the necessary legislation, the markets continued to fall. By October 3, when the bailout was approved, Mr Paulson said that buying assets would not be enough - the US Government needed to take equity stakes in banks to strengthen their balance sheets.
The Treasury Secretary has since used about $335 billion of the bailout fund, disbursing the cash to at least 52 companies in 25 states, including an agreement with Citi to inject an extra $20 billion, on top of the $25 billion the bank received in October.
The flight to quality has sent the income from Treasury bonds to record lows. Investors have piled more than $100million into money market funds in the past month, pushing up demand for Treasury bills which this week were trading at a negative implied yield for the first time since 1940.
Three months after Lehman, the market for some assets remains dead. Figures compiled by Thompson Financial show that there have been only two issues of high-risk, high-yield debt since the bank went bust. Mortgage-backed debt has continued to sell in the past three months, although with far fewer issues per week. The market for sub-prime and Alt-A mortgage-backed securities, however, is gone. No one is buying collateralised loan obligations (CLOs) and the CDS market remains in tatters. Issuance of asset-backed securities is patchy, with at least three weeks since September 15 in which there were no sales. Yet investment grade debt has continued to sell at relatively normal levels.
Commercial paper, an important source of short-term funding for many companies, has picked up in the past six weeks, largely because of a Federal Reserve funding facility that has bought $300billion worth of the assets over the past seven weeks. For non-financial companies, the cost of borrowing using commercial paper is at a ten-year low. US bank lending, including commercial and consumer credit, is at record highs, indicating that households and companies are not struggling across the board to get loans. Local governments are issuing municipal bonds at the same level as before the credit crunch. And real estate lending hit a record high in October.
Octavio Marenzi, the head of Celent, a financial services consultancy, said: “Markets are very resilient. When people see opportunities, they'll jump in. People are being more cautious but in aggregate, they'll still participate. People still think more money is better than less money.
http://business.timesonline.co.uk/tol/business/.../article5332752.ece