Lehman Bros 6.5% Pref''''d Series "F" (fka LEHFQ)

[RICK C]

10:06 =.20 Now we need LIFT OFF.

[RICK C]

OH ALRIGHT,LOL Yup showing GREEN NOW,Same as my J's. Get the rest of them MOVING.That's an ORDER YOU MARKET FLAKERS .

[OTC BB King]

Come back, we are headed higher! lol

[RICK C]

I'm walking away from the Puter. let them Play their games. HOLD.

[RICK C]

You know what the 300 is said to mean Right.

[OTC BB King]

LOL, a 300 share print? That is not even $30 bucks worth!

[RICK C]

Well shares are dropping on ALL , MM's trying to scare folks into selling. Don't fall for the tricksters game.

[TraderDog]

Volume picking up...Nice spread .171 x .1803

[TraderDog]

Nice BID support today. .30 coming soon.

[RICK C]

ooops that was CHEAP.lol. Got to learn to type better.

[RICK C]

I LIKED that.17 , hey chrap is always GOOD. Now lets get past .20 oh yea.

[OTC BB King]

Welcome aboard, these F's are dirt cheap.

[RICK C]

AFTERNOON King, I got some f's Finally. Hit the ASK .1999

[OTC BB King]

This is big news. Thanks.

[DJN]

United States: Lehman Bankruptcy Court Declares “Bankruptcy Default” Under Swap Agreement To Be Unenforceable
29 September 2009

Please refer to http://investorshub.advfn.com/boards/read_msg.aspx?message_id=42015606

[OTC BB King]

Yes, building a higher base. Looking forward to the next few weeks!

[S-BEES-BUMBLEBEE]

Bid/Ask: $20 X .24! Bid is building, again..

GLTA Longs!
*hypehunter*

[OTC BB King]

Just hold tight and you do not have to worry about the MM manipulated ups and downs. They have tried to print small prints at the bid on this and all other Lehman plays for months, no worries.

[dannoninvest]

lehfq went up over 100% today. the bid is the same when it closed at .13 friday. the ask is .25 now and the share is at .27 what a bunch of crooked sobs. cant this be reported?

[OTC BB King]

Wow, that is VERY encouraging!

[DJN]

Kojaian splits with Lehman: Developer, bankrupt firm divide joint-venture properties

http://www.crainsdetroit.com/article/20090927/FREE/309279965/1069#

In the near future, Kojaian expects to buy many of the Lehman-owned properties back, he said, under the purchase options negotiated in the settlement.

He also expects Lehman to emerge from Chapter 11 and function again.

“When Lehman comes out, we will do business again,” he said. “It's very sad what happened to that firm.”

[OTC BB King]

Looking for a big week in the Lehman universe. LEHFQ has to catch back up to the J's and LEHCQ is an absolute steal if you can get any shares at .30 or lower.

[S-BEES-BUMBLEBEE]

My Bids never showed by the MMs, also! 100% AGREED with your post, Bud!

[OTC BB King]

They never reflect my bids even when they are more than 50K shares... MM games IMO. No worries, it is all a value play and you have to own shares to take advantage. The day to day pps is meaningless.

[S-BEES-BUMBLEBEE]

Bid/Ask: .12 X .25, that`s RIDICULOUS IMO!!!

[S-BEES-BUMBLEBEE]

You`ve got it, bro!

GO LEHFQ, GOOOOOOOOOOOOOOO!!!

GLTY(A)! *hypehunter*

[OTC BB King]

Agree. Next week will be the start of the October 15th hearing move higher.

[S-BEES-BUMBLEBEE]

IMO .25`s will look REAL CHEAP in the near future!!!

GLTYA! *hypehunter*

[S-BEES-BUMBLEBEE]

100% AGREED! ..nice consolidation for adding or buy-in!

..everything below $1 are real CHEAPIES/BARGAINS IMHO!!!

GLTY(A)! *hypehunter*

[OTC BB King]

Printed this down on the last trade of the day after everything went through at .20 today, do not be fooled by the games. Know what you own and enjoy the ride.

[OTC BB King]

Good News for Lehman:

NY court nixes option to cease payments in swap dispute
Wed Sep 23, 2009 10:47am EDT

NEW YORK, Sept 23 (Reuters) - A decision by a New York bankruptcy court in a dispute involving Lehman Brothers (LEHMQ.PK) is likely to make it harder for companies that have derivatives trades with the firm to keep the contracts open yet avoid making payments due to the bank's failure.
The court found last week that Metavante Technologies (MV.N), which had an interest rate swap with Lehman, must continue to make payments on the contract, after the company chose not to exercise an option to terminate the swap upon Lehman's failure.

Metavante, a provider of banking and payment technology, had argued that it should not be required to make payments on the contract because Lehman's default left it without an effective counterparty.

The firm also argued that as the non-defaulting party it had the option to wait to terminate the trade until market conditions favored the company.

"The court is saying that while you don't have to designate an early termination you then have to perform, and if you do elect to terminate under the safe harbor you have to do so within a reasonable amount of time after the bankruptcy occurs," said Richard Schetman, partner at law firm Cadwalader, Wickersham & Taft in New York in a comment on the decision.

Derivatives, contracts that are based on the value of an underlying asset, benefit from a safe harbor provision that allows trade counterparties to terminate the contracts in the event of a default.

The contracts, however, don't typically specify a deadline for announcing an intention to terminate the trade.

"This case provides some clarity on the application of the swap safe harbor, though my sense is that the large majority of counterparties have previously terminated their Lehman trades," said Schetman.

Lehman has sued counterparties including American International Group (AIG.N) for using its bankruptcy as a means to avoid making payments on derivatives, which it says violates U.S. bankruptcy code. For details, see [ID:nN12164349]

The case was heard in the U.S. Bankruptcy Court for the Southern District of New York. (Reporting by Karen Brettell; Editing by Theodore d'Afflisio

[S-BEES-BUMBLEBEE]

Sorry, ran out of powder at the moment, Bud!

[OTC BB King]

Paint that ask EOD to close us green :)

[S-BEES-BUMBLEBEE]

Ask downticked to $.28!!! (= real BARGAINS! IMO) ..would like to see a GREEN CLOSE, let`s slap that fu**in` Ask a bit! LOL

GLTYA *hypehunter*

[S-BEES-BUMBLEBEE]

If we should get 80% LEHFQ will go to $20 per share!!!

COMPANIES ARE PAYING LEHMAN FROM 53% UP TO 80% to settle derivitives contracts with LEHMAN!

NEW YORK, Sept 21 (Reuters) - New York's cash-strapped Metropolitan Transportation Authority terminated three swaps with bankrupt Lehman Brothers (LEHMQ.PK) at a bigger discount than those negotiated by other public entities, the agency's finance director said on Monday.

While the nation's biggest mass transit only paid 53 cents on the dollar, other public agencies are paying from 60 to even 80 cents to end their Lehman swaps, Pat McCoy said at a webcast finance committee meeting.

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSN2131183920090921

The Perfect Storm...now playing to the UPSIDE!

GLTYA *hypehunter*
(imho)

[OTC BB King]

Lehman Plays and Current Valuations:

% Face value based on closing price on 9/21/2009

LEHNQ - 8M @ $25 1.40% of face
LEHKQ - 12M @ $25 1.20% of face
LEHLQ - 12M @ $25 1.24% of face
LHHMQ - 16M @ $25 1.20% of face

Capital Trusts seem to be trading nearly equally. LEHNQ is only slightly overpriced compared to other CTs.

LEHCQ - 5M $50 0.50% of face
LEHDQ - 4M @ $50 0.52% of face
LEHFQ - 12M @ $25 0.92% of face
LEHGQ - 5.2M @ $25 0.76% of face
LEHJQ - 66M @ $25 1.16% of face
LEHPQ - 4M s@ $1000 0.70% of face

Of the Traditional Preferred Shares, both LEHCQ and LEHDQ are undervalued with respect to their peers. This may be due to their low float but I believe it is lack of knowledge. Both CQ and DQ have face values of $50 not $25 and therefore should be trading approx twice that of FQ, GQ, and JQ. The most liquid of all Preferred Shares, JQ, is most overpriced relatively. PQs remain a great purchase. PQs need to gain another 68% to reach $11.60 to trade at the same 1.16% of par as JQ. Purchases of low float issues like CQ, DQ, and GQ are going to require purchases at the ASK imo.

LEHMQ -689M @ $0.234

[OTC BB King]

Lehman Blog:
http://lehmanlotto.blogspot.com/

[OTC BB King]

Wow, you are good to go when the Lehman train really gets rolling. I just hold the F's and C's.

[EvilTweety]

TY - have c, f, g and j :)

[OTC BB King]

Welcome aboard. Only 12M O/S for this $25 face value Lehman preferred. Just now getting noticed. I also love LEHCQ that has a $50 face value and is only at .30 right now.

[EvilTweety]

Followed you here - like the share structure for this one a lot.

[OTC BB King]

Looking for a close in the .40's today.

[S-BEES-BUMBLEBEE]

Bid is upticking again..

[OTC BB King]

Yes, .30's are just over 1/100 liquidation value. Very cheap IMO.

[S-BEES-BUMBLEBEE]

IMO those .30`s will look VERY CHEAP in the near future!!!

GLTY(A) *hypehunter*

[OTC BB King]

Still being offered at a discount to the J's for some reason.

[S-BEES-BUMBLEBEE]

Bid/Ask: $.285 X .30!

[OTC BB King]

Wow, HUGE! Lehman commons should at least make it to C, AIG, FNM, or even BAC status! What will that do for the preferreds? WOW!

[coach tequila]

This is the article that led me to the previous post!

Monday, September 21, 2009
What Is Going on with Lehman Brothers?

Not with the company but the stock price.

Lehman Brothers still trades as a pink sheet, LEHMQ. The company has been in bankruptcy (Chapter 11) since last September. The stock, accordingly, was trading at 5 cents or less, with daily volume of a few million shares, until all of a sudden it went up 200% to 15 cents on August 28 with 73 million shares trading.

It is trading at 23 cents today, up 12%. It was up more than 20% earlier.

The move since late August is dismissed as nothing more than small, retail investors picking out the penny stocks hoping to win big to make up for the loss they have sustained in their investment.

Probably that is the case. However, I have this strange feeling that the firm may get resurrected. I have absolutely no proof, it's just my slight suspicion, probably irrational one, too.

If I am to plead my case for the Lehman resurrection, it is this recent post about two accountants discussing the unwinding of the unwindable derivative positions in Lehman Brothers London operation.

No major counterparty has come forward to settle their accounts with Lehman, after one year. Why? Maybe because their claims are not supported enough by documentation that would satisfy the bankruptcy judge? Instead of unwinding the positions so that the firm can be dissolved, might they end up keeping the firm intact with all remaining positions on its book, so that the counterparties are not harmed by the unwinding (if they owe Lehman)?

They may rather let Lehman Brothers exist as a "bad bank" that holds derivatives that have certain value but no one can figure out exactly what value and are unwindable. After all, Chapter 11 bankruptcy is for reorganization under the bankruptcy code.

http://ex-skf.blogspot.com/2009/09/what-is-going-on-with-lehman-brothers.html

Classic...Enjoy the Ride!

Coach T

[coach tequila]

I HAVE NEVER POSTED MUST READ! THIS IS A MUST READ!


Lehman Brothers One Year After in London and Still Unraveling

On the other hand, across the Atlantic, BBC Radio aired a very interesting program featuring two accountants sent to Lehman as administrators to sort out the mess and wind down the company's London-based operation. The "mess" is an understatement; as one of the accountants say near the end, "the most complex insolvency ever."

The accountants, Tony Lomas and Steven Pearson of PriceWaterhouseCoopers, speak to Steve Evans in the program Business Daily, aired on September 10. The interview is about 18 minutes long, and you can listen to the program by clicking the link (it opens in a new window).

They tell Evans that they still have over 400 Lehman people working with them. Lehman Brothers still has enormous balance sheet of over $1 trillion, loaded with very complex assets - derivatives and structured finance products, they say.

After one year, they are still in awe how complex and comprehensive the business environment is in a large financial institution like Lehman. And how unfathomable the risk is. They say they are just starting to unravel some of the complexities of the positions with some of the bigger clients.

"Almost a year on, we still have large household-name counterparties out there who have NOT reconciled their position with Lehman. They have not worked out exactly what they think Lehman owes them, or what they owe Lehman... Because of the complexities of the relationship, they still can't finalize what their position is with us, all these months on."

"All it happened here, is the market stopped believing. Suddenly this enormous organization that's been around for 100 years fell apart. It could have been a number of other market counterparties; it happened to be Lehman but it could have been a number of others. If we end up without vote of confidence again, you could have this sort of thing again..."

http://ex-skf.blogspot.com/2009/09/lehman-brothers-one-year-after-in.html

THe Prefect Storm...now they let LEHMAN SURVIVE BECAUSE THEY CANNOT FIGURE OUT HOW TO LET IT DIE (BBC)!

Coach T