From artsjournal.com
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"An eclectic batch of artworks that once adorned the corporate offices of Lehman Brothers Holdings Inc. sold for $1.35 million," or "almost double the projected total," at auction Sunday. One art adviser explained part of the appeal: "This gives you a piece of financial history -- good, bad or indifferent."...
- Lehman-stung Shinsei refocusing on Japan (feedburner.com)
By Jason Simpkins
Managing Editor
Money Morning
CIT Group Inc. (NYSE: CIT) on Sunday filed for Chapter 11 bankruptcy protection. CIT’s filing is the fifth largest bankruptcy in U.S. history, behind Lehman Brothers Holdings Inc. (OTC: LEHMQ), Washington Mutual Inc. (OTC: WAMUQ), WorldCom Inc., and General Motors Corp.
But unlike Lehman Bros. and [...]
From moneymorning.com
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- Lehman Bros. art is on auction block (msnbc.msn.com)
- Online Bidders Come Out in Force for Lehman Brothers Sale (search.msn.com)
- Lehman bequeaths an artistic premium (telegraph.co.uk)
Or so alleges country reporter Charlie Gasparino, in his new book (out tomorrow!), When Mooks Fail. According to CG, given that "both of these broads" had "a great pair of legs and an ass just begging for a pinch," the comparisons were inevitable, but were nevertheless troubling to JT.
The upcoming second-quarter earnings--or, to be more precise, losses--were much higher than expected, around $5 billion. The size of the losses was in direct...
From dealbreaker.com
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- John Thain Didn’t Want To Be Compared To Erin Callan (search.live.com)
Nov. 2 (Bloomberg) -- An eclectic batch of artworks that once adorned the corporate offices of Lehman Brothers Holdings Inc. sold for $1.35 million yesterday at Freeman’s Auctioneers in Philadelphia. Bloomberg's Gigi Stone reports. (Source: Bloomberg)
From wpi.clipsyndicate.com
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- Lehman Brothers Bids Farewell To Its Last Jet (luxist.com)
Another chapter in the history of Lehman Brothers is now closed. At yesterday's auction, the artwork held by the once mighty financial institution fetched $1.35 million, almost double the $760,800 presale estimate by Freeman's Auctioneers. Nonetheless, it puts hardly a dent in the $250 billion that Lehman owes its creditors.
The auction lasted six hours and featured both fast-paced bidding and generous prices. Unsurprisingly, Roy Lichtenstein...
From luxist.com
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- Securities Litigation and Consulting Group, Inc. Releases 'Structured... (rss.prnewswire.com)
- Lehman Art: Fire Sale Auction in Philly (luxist.com)
- Lehman Veteran Joins Clayton Holdings (housingwire.com)
When I first heard a few weeks ago that the art collection that once hung in the hallways and offices of Lehman Brothers was going up for auction, I wondered if it could make enough money to at least partly compensate Lehman creditors, who are owed something in the neighborhood of $250 billion by the [...]
From feedburner.com
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- Ormat Technologies, Inc. Announces Re-Purchase of Part-Ownership Interest in... (rss.prnewswire.com)
The NY Times looks at how Lehman Brothers head Dick Fuld tried to save the firm, with the help of government officials, based on reporter Andrew Ross Sorkin's book, Too Big To Fail. A choice quote: Then-Treasury Secretary Hank Paulson telling Fuld he won't call Bank of America's CEO, "I think it’s a hard sell, but I think the only way you’re going to do it is go to him directly. I’m not going to call Ken Lewis and tell him to buy Lehman...
From gothamist.com
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- Tibman's 'The Murder of Lehman Brothers' (seekingalpha.com)
- Collectors Turn Out for Lehman Art ‘Trophies’ (nymag.com)
The sale of artworks owned by Lehman Brothers before it filed for bankruptcy last year raised $US1.34 million ($£815,000) at auction in Philadelphia yesterday – nearly double what had been expected.
More perspectives...
From timesonline.co.uk
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Alistair Darling has been accused by Henry Paulson, the former US Treasury Secretary, of double-crossing America when he effectively vetoed the acquisition of Lehman Brothers by Barclays Bank in September last year.
More perspectives...
From timesonline.co.uk
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Essential reading for anyone who wants a clear, concise picture of the decisions that led to failure of Lehman brothers and the resulting fallout.
Andrew Ross Sorkin - Wall Street - Lehman Brothers - Too Big to Fail policy - Too Big
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From blogcritics.org
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