Word: lehmans
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...media.'' The next day ABC announced that the other networks could air the opening ceremony remarks made by Hodel and Chrysler Chairman Lee Iacocca, who heads the foundation that raised funds for the statue's restoration. ABC's competitors will also carry the speeches of Navy Secretary John Lehman and French President Francois Mitterrand, as well as reaction shots of Reagan after he lights the statue. Finally, all four networks will carry not only the swearing in of 258 new citizens by U.S. Chief Justice Warren Burger but also reaction shots of the audience. Only ABC, however, will...
...cool down its overheating economy and help throttle price increases, Chinese officials employed a mix of policies that included limits on bank lending, a throwback to the country's command-economy days. Yet, despite these steps, the mainland's growth does not appear to be slowing appreciably. Investment bank Lehman Brothers expects China's GDP to expand 9% this year and 8% in 2009. "I think they are striking a very delicate balance between controlling inflation and supporting growth," says Qing Wang, chief China economist for Morgan Stanley, which projects even higher growth in China - 10% this year...
...weeks, Lehman battled Einhorn's assertions. Some of the Wall Street analysts who follow the firm dismissed him as a half-informed dabbler. Then Lehman disclosed that it had lost $2.8 billion in the second quarter. It raised $6 billion by selling new shares, addressing Einhorn's concerns about overindebtedness. It removed its chief financial officer and chief operating officer. Chief executive Richard Fuld got on the company public-address system and declared, "Einhorn didn't lose us $2.8 billion. We lost...
...possible that some of this would have happened without Einhorn's badgering. But nobody else--not the SEC, not the Fed, not the analysts, not investors, not Lehman's board--was putting public pressure on the firm's executives to come clean. Some may have feared inciting a panic like the one at Bear Stearns. I asked Einhorn whether he worried about that. No, he said. "If you're running a financial firm, you need to run it in such a way that you can survive a civil discussion...
...Lehman has survived, although its stock price is down 70% from a year ago. Perhaps it's time for a few more such civil discussions about how Wall Street does business...