Word: lehman
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...last year bought a 20% stake in Akbank (for $3 billion). "The foreign appetite for Turkish companies and stocks is high," said Hakan Avci, director of asset management at the Istanbul office of Raymond James Securities, a U.S. company, before the recent political blowup. In the past 18 months, Lehman Bros., Morgan Stanley and Credit Suisse bought local brokerages in the country. Avci has since lowered his projections because of the political turmoil but says he is "optimistic that this crisis will be overcome and a solution found." The Turkish government has vowed to press ahead with privatization plans, including...
...tear. The 2004-07 period saw the second strongest bout of global growth on record--which translated into strong demand for cheap Chinese-made products. But this era may be ending. Most economists are forecasting a significant slowdown in worldwide GDP growth in 2008. This slowdown, predicts Lehman Brothers economist Sun Ming-chun, will prove to be the "unmasking of [manufacturing] overcapacity in China." Says Li of the Asia Footwear Association: "The cake is only so big, and when you have too many people trying to eat it, you will definitely have some go hungry...
...retrenchment could have serious consequences for China's economy and society. The specter of legions of laid-off migrant workers roaming the streets in search of jobs is bound to keep Beijing's economic policymakers--who fear the political consequences of widespread social unrest--up at night. Sun, the Lehman Brothers economist, says that as manufacturers are pushed to the brink, China's stock markets could see sharp declines. Given that many large, listed Chinese companies pad their profits by investing in stocks themselves, "a big correction could bring [corporate earnings] even lower, and a vicious cycle could result," says...
...Bible,” by the Arcade Fire. Will soon be listening to: “Classical music? I don’t know, what do Linguistics professors listen to? Oh man, I’m so in over my head, I really should have taken that job with Lehman...
...Walsh said. Junior Ryan Watson had an unsightly relief appearance in the seventh—two walks, two hit batsmen—but Stoeckel surprisingly came in from shortstop to take the hill and managed to staunch the bleeding. —Staff writer Jonathan Lehman can be reached at jlehman@fas.harvard.edu...