Word: lehman
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Dates: during 2000-2009
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...recent market turmoil has directly affected the career paths of Harvard undergraduates who spent their summers interning at many of the global financial firms whose balance sheets have deteriorated in the last few weeks. A number of these students, who interned at investment banks such as Lehman Brothers, have seen their full-time offers enter a state of limbo. The Lehman offers extended to seniors who interned last summer are still under deliberation, according to Matthew P. Bresnahan ’09 who interned in Lehman’s Global Consumer/Retail Group. Bresnahan received an offer for full-time employment...
...another Japanese bottom fisher took a step it had been preparing for since spring, when Kenichi Watanabe, CEO of Nomura Holdings, began raising a $5.6 billion war chest to increase his firm's international footprint. Tokyo's biggest investment bank said it would buy the Asia operations of Lehman Bros., the bankrupt Wall Street firm, and was in negotiations to take over its European operations as well. The $225-million deal saves the jobs of about 3,000 Lehman employees, some of whom expressed surprise as well as relief that they might keep their jobs. "Now we have a parent...
...Because many other Asian countries are growing at least three times as fast, most analysts view Nomura's acquisition of Lehman's Asia assets for $225 million as a steal. MUFG, too, was already looking beyond Japan for growth. In August, it paid $3.5 billion to buy the remaining 35% of Union Bank of California that it didn't already own. Union Bank of California has a relatively healthy balance sheet and its stock is undervalued, analysts...
...hasn't just been Japanese companies that have been looking greedily West. Before Lehman Brothers filed for bankruptcy it was in negotiations with the state-owned Korean Development Bank, which was contemplating an investment of up to $6 billion. But partly due to political pressure at home, KDB backed off. Koreans questioned why the country's investment arm should bail out a failing Wall Street firm. Asked an Internet blogger: "Didn't we see what happened to the Chinese...
...Controller Kenneth Molinaro told the News that the increase is costing the school about $8,000 per day. With nearly eight times as many variable-rate bonds issued, Harvard could potentially be losing significantly more. The rate increases at Princeton can be partially attributed to the bankruptcy of Lehman Brothers, the investment bank that underwrote the bonds issued by the New Jersey university. Harvard refused to disclose the name of the firm that underwrote their outstanding public debt, but the University has had at least two fixed-rate bond issuances in 2008, both announced Jan. 23 at sums...