All Posts Tagged With: "Lehman Bros"

AIG to Replace CEO Following Losses

American International Group Inc, the world’s biggest insurer, has announced it will replace CEO Martin Sullivan. The news comes after AIG reported record losses due to risky mortgage bets.

Sullivan follows the departure of a wave of Wall Street top execs, including the recent bloodletting at ailing investment bank Lehman Brothers.

“On Wall Street, after Bear Stearns fainted, the other financial firms took smelling salts,” says Bill Bonner in The Daily Reckoning.

Heads Roll at Lehman Brothers

This week saw Lehman Brothers replace two of its top executives: CFO Erin Callan and COO Joseph Gregor. The two will remain at the bank in lesser roles.

“As recently as a month ago,” says Justice Litle in Taipan Daily, “Erin Callan was on top of the world.”

The WSJ did a glowing piece on her rise through the ranks. Condé Nast’s Portfolio magazine dubbed her the most powerful woman on Wall Street.

Lehman Brothers Expected to Pull Through

Lehman Brothers, the fourth largest US investment bank, is at the centre of a storm of bad news stories.

Shares in the Wall Street powerhouse tumbled 31% last month on the NYSE on expections of heavy Q2 losses and the likelihood that the bank will have to raise cash to cover subprime-related writedowns. However, unlike rival Bear Stearns, the word on the Street is that Lehman will survive.

On Wall Street, after Bear Stearns fainted, the other financial firms took smelling salts,” says Bill Bonner in The Daily Reckoning.

Big Ben’s Loose Lips

The trouble with getting older…Big Ben expresses himself…Globalization is no longer a force for good - but a force for evil…the Bear Stearns domino effect…End of the road for Hilary…a new hotline service - made just for central bankers…and more!

Are Solar-Powered Cars the Answer to High Gas Prices?

With the gas prices nearing $4 a gallon in many parts of the US, one of the alternatives people are starting to talk about is solar-powered cars.

Google says the term “solar powered car” is one of the hottest search trends on the internet, as Americans seek alternatives to high fuel costs.

According to a recent Lehman Brothers report, the solar-powered-car revolution may not be coming anytime soon. The Wall Street bank in predicting crude oil prices at $83 a barrel in 2009 and as low as $70 in 2010.

Back Among the Worriers

Back among the worriers…the United States is headed toward a recession, says the IMF… A look back at a ‘great’ war…Lehman Bros. liquidate three of their funds. Someone you definitely want as your next-door neighbor…and more!

A Bad Trade

The present period in financial history favors ducks and undertakers. On the banks of the Thames and the Hudson, every day they fish a couple more cadavers out of the water. And then the medical examiner opens them up so we get to see what caused them to go under. What a sight! It is amazing that any sane investor ever had anything to do with them in the first place.

Mr. Market Ignores the Bad

Megabank announces $19bn write-down, a rights issue to shore up its balance sheet and its chairman resigns. What does the stock market think? It marks the shares up 12%.

April´s Fools

When recession comes earnings fall and those slippery PE numbers can start making fools out of us. The trick to smart investing, as Mark Slater once commented, was finding those companies where earnings were going up so fast that at some point the company would be re-rated by the market thereby boosting the share price.

Paulson Has an idea, Bear Stearns Ain’t a Cheap Floozy

At least the U.S. economy has started to look more like a soap opera and less like a Greek tragedy this week. Maybe we can get out of the current market situation without having to watch every player die a bloody, violent death, afterall… or maybe not. Either way, I’d bring a an umbrella to the performance. There may be splatter.

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