Word: lehmans
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Paul Schulte, a former Lehman Brothers star analyst who is now with Japan's Nomura (which took over bankrupt Lehman's Asian operations), recently compared bank balance sheets in various countries and discovered significant differences. One telling disparity is leverage. The higher the leverage, the greater the risk, and despite efforts to put them on sounder financial footing, U.S. and European banks remain overstretched by historical standards and relative to their peers. (See the top 10 bankruptcies...
...deteriorate through the summer and ultimately imploded that fall. On one mid-September Sunday evening, Mendillo went out to dinner with her husband to celebrate her fiftieth birthday, only to return home to multiple messages from her HMC team notifying her that they were formulating contingency plans for Lehman Brothers’ collapse—the largest bankruptcy in U.S. history and what many investors see as a seminal event in the financial crisis.Stephen Blyth, who had only been promoted to his post as head of internal management at HMC the week before, says that Oct. 2008 was the most...
...Harvard is an indestructible American brand—like Lehman Brothers and General Motors,” he quipped...
When the Class of 2009 arrived on campus, Lehman Brothers and Merrill Lynch were still solvent.But between freshmen move-in and the Office of Career Services Career Forum at the end of September of their senior year, Merrill Lynch was sold to Bank of America and Lehman Brothers collapsed.And as might be expected in a time of economic turmoil, fewer seniors—usually looking for their first full-time jobs—were able to find work this year than in the recent past.In this year’s Crimson survey of over 500 seniors, 59 percent of those...
...resurgent Russia’s military and geopolitical clout.The new conflict in the post-Soviet sphere coincided with a period of relative stability in the heretofore bloody and violent war in Iraq, which we opposed from the start. But this calm was not to last.On September 15, 2008, Lehman Brothers filed for Chapter 11 bankruptcy protection. This sudden collapse marked the start of a financial chain reaction that reached across the oceans, bringing down parliamentary governments in Iceland and Latvia, and forcing the Hungarian and Ukrainian governments to appear hat-in-hand before the International Monetary Fund. We also watched?...