Word: lehman
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...that threatened their company's value. In fact, companies long ago thought they had figured out a way to shepherd individual interest. "Everyone thought risk-based compensation was equity in the firm," says James Wiener, head of the finance and risk practice at the consultancy Oliver Wyman. Employees at Lehman Brothers and Bear Stearns owned some 30% of their companies. At the end of the day, that didn't matter. Because altering a foundational element of an industry is difficult...
...fundamentals of the economy are strong.' JOHN MCCAIN, speaking on Sept. 15, just hours before Lehman Brothers filed for the largest bankruptcy in U.S. history...
...ongoing economic crisis has brought down corporate giants such as Lehman Brothers, prompted the major buyout of Merrill, and sent many outbound Harvardians into the real world without the comfort of a surefire money-making contract in their back pocket. But while we’ve all been watching these titans battle, the less-followed everyday industries suffer too, and in particular, an industry near and dear to our hearts—print publications. If you thought “The Bubble” couldn’t be burst, think again. 02138, a magazine by Harvard alumni, for Harvard...
...moment Lehman Brothers collapsed in September, McCain led the campaign, riding high on a post-convention bounce. But as approval of President Bush plummeted to historic lows, and the electorate rejected a tainted Republican party, McCain found himself unable to control his own destiny. In the final weeks, he ran a hard race, refusing to give up in the face of daunting polls. "It's the only way to finish anything that you do in life, that's a competitive venture, which is full speed," explained Schmidt...
...When Lehman Brothers calls up [Treasury Secretary Hank] Paulson, what do you expect them to say? "Gosh, I got to worry about my Maserati or my plane payments?" No. They call up and shriek about systemic risk. Come on. Investment banks have been going bankrupt for hundreds of years and the world has still somehow survived. This approach has never worked. This is what the Japanese did in the 1990s. They refused to let anyone fail. And they had zombie banks and zombie companies. The way the system is supposed to work is when we have bad times, the assets...