Word: lehman
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...weekend before Lehman Brothers' collapse, Merrill Lynch CEO John Thain turned to Lewis for help. Thain called Lewis to offer him 10% of his firm. Lewis said he wanted it all. By the end of the weekend, the deal was done. Lewis was hailed as a hero for saving Merrill on the same morning that Lehman was forced to file for bankruptcy. (See the top 10 bankruptcies...
Science agrees that listening to music at too high a volume can be dangerous, even for the young. Dr. Sandra Levey of New York City's Lehman College says 13% of teenagers aged 16 to 19 already show signs of noise-induced hearing loss. The inner ear contains small hair cells that vibrate against an inner membrane, generating an electrical signal that the brain interprets as sound, Levey explains. When bombarded by loud volumes over an extended period of time, these hair cells die off. The result is hearing loss, and potentially an array of other nasty consequences. A study...
...Until then the dollar carry trade is going to be a decidedly mixed blessing. Because the dollar is so cheaply available today it creates a source of global funding that grew dangerously scarce after the collapse of U.S. investment bank Lehman Brothers in mid-2008. That's the good news...
...they are loath to do: Actually increase the dollars in their foreign reserves. "Asian central banks are accumulating even more dollars," says Credit Suisse's Desbarres. According to Citigroup, China's foreign reserves ($2.13 trillion as of June, including forward currency contracts) have increased 11.9% since the collapse of Lehman Brothers in September, 2008. Hong Kong's foreign reserves have shot up by nearly 40% over the same period. Economists point out that this new pile-up of dollars will do little to reerse a dangerous pattern of global savings and spending, wherein Asians control much of the world...
...Fornelli notes that the improvement came even though a hoard of bad news shook up the markets between last year's summer survey and this year's fall survey. "Unemployment went up significantly, you had problems with AIG and Lehman Brothers, the stock market went down - so the indicators of the economy got worse and yet confidence has leveled off," she says. Of course, you could also say that the two surveys bridged the worst months of the financial crisis, but it's positive nonetheless that current investor confidence is a tad better than pre-Lehman levels. (See 25 people...