Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
10,000 share buy. Nice!!!!
Put it in LEHPQ... that is the next HUGE play.
Go Lehman 2010 stocks!!!
Only 4 million shares of LEHPQ
http://quantumonline.com/
HIGH on May 22nd 2008 PPS -- 1258.00 PPS
Ownership Breakdown: LEHPQ
http://finance.aol.com/company/lehman-bros-7-25percent-pfd-p/lehpq/nao/institutional-ownership
and this ride should be equal or better as Lehman has money everywhere. I also noticed they seem to do business in the billions rather than the millions.
and you picked them up DIRT cheap... Great Job, and Happy New Year to you.
Give them 3-6 months and you will be in the BIG MONEY...
We haven't even started to tap JPM yet... They owe Lehman 17 billion.
100% Correct. This is where I bought in on WAMPQ between 2-4 pps and made plenty of money so far. I sold some off and placed them here. This will be the next WAMPQ...
I'm locked and loaded in LEHPQ, LBHGP, CQ, DQ, FQ, and JQ.
2010 is the year for Lehman Brothers.
FYI-- WAMPQ is up to 54.90 +37.25% today. LEHPQ is equivalent to WAMPQ in terms of 1000.00 face payout. Get your shares NOW before the New Year!!!
They are going to fly next year 2010.
WAMPQ is up to 54.90 +37.25%. LEHPQ is equivalent to WAMPQ in terms of 1000.00 face payout. Get your shares NOW before the New Year!!!
They are going to fly next year 2010.
Merry Christmas Board. I also want to give a special shout out to all service men/women who are working hard to keep our families safe.
Merry Christmas!!
Viva, great job.
I posted this on the Js board. FYI-- The answer is "LEHPQ"
Questions for the board... If you were given just 10% of your face value for a stock, which Lehman class do you think would have the best return on your investment (ROI)?
In addition, if all of the preferred stocks were getting full face value, which class would get the highest ROI?
Happy Holidays!!!
Questions for the board... If you were given just 10% of your face value for a stock, which Lehman class do you think would have the best return on your investment (ROI)?
In addition, if all of the preferred stocks were getting full face value, which class would get the highest ROI?
I agree.. there's no way the MMs can hide the fact they were buys :P
Wahoo... 200,000 @ .11
Yep :) 300,000 shares traded before the market opens.
Go Lehman!!! Lets move it up!!!
Court with Barclays on 12/31/09
http://chap11.epiqsystems.com/viewdocument.aspx?DocumentPk=e23d2311-1739-428f-83c5-ab5ff6114c15
Notice of Presentment of Amended Confidentiality Stipulation and Protective Order by and Between Barclays Capital Inc., Lehman Brothers Holdings, Inc., Weil, Gotshal & Manges LLP, the Trustee for the SIPA Liquidation of Lehman Brothers Inc., and the Official Committee of Unsecured Creditors of Lehman Brothers Holdings, Inc. (related document(s)[5714]) filed by Shai Waisman on behalf of Lehman Brothers Holdings Inc.. with presentment to be held on 12/31/2009 at 12:00 PM at Courtroom 601 (JMP) Objections due by 12/31/2009, (Waisman, Shai)
NOL from the MOR:
Taxes
Due to the uncertainties of future taxable profits, the deferred tax assets recorded by LBHI and its subsidiaries prior to the bankruptcy
filings have been reversed through valuation allowances. Deferred tax assets have not been recorded for the post-petition portion of
2008 or for 2009. Provisions for 2009 federal taxes are reported at $0. Payables accounts contain amounts for state and local income
taxes, some of which are reported on a combined basis, including LBHI and certain subsidiaries, and some of which are imposed on a
separate company basis. There exists a recorded federal income tax refund claim of approximately $350 million, included in
receivables and other assets, related to the estimated anticipated carry-back of net operating losses. The Company recently filed its
2008 consolidated Federal tax return with a net operating loss of approximately $47 billion and is currently evaluating the potential
impact of the five-year net operating loss carry-back provision recently enacted into federal law
Hi Rick... When you say long haul... what do you mean by that? Are you implying that it will be a long time before we will see any value. The reason why I ask is that I didn't get that from the video.
Overview of today's events...
http://in.reuters.com/article/bankingfinancial-SP/idINN167679220091216
I agree 100%. All of the other banks are giving stocks to the executives for bonuses. We are in BK, give them some Js and let's move it up :P Cash is king.
Build up our bank... http://www.reuters.com/article/idUSTRE5BF4D120091216
Judge says Lehman can pump $100 million into bank unit
Emily Chasan
NEW YORK
Wed Dec 16, 2009 1:50pm EST
NEW YORK (Reuters) - A U.S. bankruptcy judge said Lehman Brothers Holdings Inc could inject another $100 million into its Aurora Bank unit so that it does not fall below the required regulatory capital level.
At a court hearing in Manhattan on Wednesday, Judge James Peck said he would approve the additional funding for the bank, which has already received about $250 million of capital contributions from Lehman since March.
Aurora Bank FSB, formerly known as Lehman Brothers Bank, employs the bulk of the remaining Lehman Brothers staff and could be worth as much as $1 billion to Lehman Brothers creditors along with the company's other bank, Utah-based Woodlands.
The bank, however, has struggled to meet capital requirements as regulators have limited its ability to offer new certificates of deposit.
Alfredo Perez, a lawyer for Lehman Brothers, said at the hearing on Wednesday that Aurora was in "advanced discussions" with the Office of Thrift Supervision and the Federal Deposit Insurance Corp to resolve its issues, and has submitted a business plan to them. If all goes well, he said, Lehman could file a plan with the court by year end so that Aurora could operate without the need for continued capital infusions.
Perez said the need for the latest capital contribution resulted from changes in the fair value of some of the bank's assets.
Peck also approved Lehman's plan to pay $50 million in bonuses to its employees who are working on the unwinding of its derivatives contracts. The judge said such bonuses were appropriate for the type of highly specialized employees Lehman is seeking to retain to do this work.
Lehman hired hundreds of its former bankers and other financial experts to help it unwind the complex contracts that were left in disarray when the company filed for bankruptcy protection on September 15, 2008, in the largest U.S. bankruptcy filing in history.
The money must be plentiful to hand out bonuses. Where's my bonus :P
I was the one who posted that and yes it can be verified by searching the other board that I mentioned.
All of the discussions regarding NOLs can be found on the wamuq board. I do not have a premium account to search for all of the related information, but I will tell you it's all there.
All part of the game. They are hoping people lose interest and drop out... then all of the sudden news comes out and it explodes (not pennies either)
NEW YORK -- A judge on Wednesday said Lehman Brothers Holdings Inc. could pay $50 million in bonuses to employees still grappling with a huge derivatives portfolio 15 months after Lehman's collapse.
http://online.wsj.com/article/SB10001424052748704541004574600014098964806.html
Lehman said the bonuses are crucial to prevent employee defections as it works to settle a derivatives portfolio with a total value of more than $10 billion, according to court documents.
Judge James Peck of the U.S. Bankruptcy Court in Manhattan said Wall Street bonuses are "a hot topic people like to take shots at," but he called the bonus plan "an essential ingredient" for Lehman's bankruptcy and extracting value from the derivatives.
Richard Krasnow said the 230 employees given the task of unwinding the portfolio must achieve a total recovery of at least $10 billion to trigger the bonus payments. The payments increase as the recovery value rises. The total bonus pool is $50 million.
At the time of its collapse, Lehman was a party to or guaranteed more than 10,000 derivative contracts representing more than 1.7 million transactions, according to court documents.
Judge Peck also approved Lehman's request to pump $100 million into its struggling Delaware bank unit but expressed concern about the Lehman's repeated requests for emergency funding to support the bank.
The $100 million is intended to maintain the bank's capital levels and prevent seizure by federal banking regulators. Lehman has gone to court numerous times this year to ask Judge Peck for permission to provide financing for the Delaware bank and a bank in Utah. Lehman said propping up the banks is crucial because they represent billions of dollars in value for creditors.
Judge Peck asked Lehman at Tuesday's hearing if the latest request is "the end of the line."
Alfredo Perez, a Lehman attorney, said he hopes the next time the bank comes back to court it will be for approval of a "comprehensive solution" for the two banks and not another emergency funding request, but he couldn't be certain.
"I can't in good faith say absolutely," Mr. Perez said. "I just don't know enough."
Yes sir, you are correct it went to 44.00 a share. Do you know who was working on the BK... you got it, the best A&M.
Even better... Bryan Marsal is the CEO of Lehman Brothers.
Go Lehman, there is a bunch of stuff on the court calendar today.
FYI-- Lehman can't cancel the commons if they want the NOL. It's one or the other.
Disclaimer: I only own CTs and Preferreds, but wanted to pass this information on to the common stock holders.
true, but very low volume so I think it just more games.
I own both and I think Lehman is in a much better position. They have a a HUGE pile of cash per Judge Peck and they have a bank that is open for business.
http://www.pionline.com/article/20091211/REG/912119986
Lehman near PCCP deal
By Arleen Jacobius
December 11, 2009, 6:04 PM ET
* Post a Comment
*
Recommend
Lehman Brothers Holdings as early as Dec. 14 is expected to close on a deal to sell two real estate mezzanine funds with a combined $2 billion in assets to real estate investment firm PCCP, confirmed Lehman spokeswoman Kimberly N. Macleod.
PCCP is taking over the general partnership interests in Lehman Brothers Real Estate Mezzanine Partners I and II, said William R. Lindsay, founding partner, in an interview today. The deal has already been approved by a supermajority of the limited partners in the funds. PCCP is hiring 10 Lehman investment managers that have been running the fund and will be opening an office in New York.
Separately, Lehman Brothers Holdings is also near two management buyouts, expected to close in early 2010. One involves its $5.6 billion Lehman Brothers Real Estate Partners funds II and III, to be bought by Brett Bossung and Mark Newman, global heads of Lehman Brothers Real Estate Partners group. Executives are in the midst of obtaining limited partner consent.
The second involves Lehman’s European mezzanine business. No details were available at deadline.
Turnaround advisory firm Alvarez & Marsal has been overseeing the restructuring of Lehman Brothers Holdings, which is in bankruptcy protection.
The sales of Lehman’s remaining private equity and real estate businesses — real estate mezzanine, real estate European mezzanine and real estate equity, its opportunistic real estate business— “are falling into place with broad LP support,” Jack McCarthy Jr., managing director and the head of the private equity advisory group at Alvarez & Marsal, wrote in a statement for Pensions & Investments.
Thanks Coach. Just trying to do my part. This is a team effort to put this puzzle together :)
RBS offers to buy your Lehman-backed structured products
http://www.citywire.co.uk/professional/-/news/structured-products/content.aspx?ID=372602
By Drazen Jorgic | 15:45:57 | 11 December 2009
Royal Bank of Scotland (RBS) is buying structured products backed by Lehman Brothers after their value rallied in recent weeks, Citywire Wealth Manager can reveal.
Structured products which were backed by Lehman Brothers bonds were deemed worthless after the collapse of the once-revered investment bank.
However, the RBS Global Banking & Markets division is now looking to buy Lehman-backed structured products from private client wealth managers who own such notes in their portfolios.
An RBS note to discretionary wealth managers said: 'RBS are putting bids on Lehman paper you may hold (structured products). With the Lehman v Barclays lawsuit underway, Lehman paper has rallied in recent weeks.
'We are seeing speculative buyers and some clients are selling out of their positions looking to capitalise on the recent rally in the paper.
'If you hold Lehman paper and are interested in capitalising on the recent gains let me know.'
It is not clear if RBS is buying Lehman-backed products for its own use or for a customer that has expressed an interest.
The RBS move coincides with today's announcement that the Financial Services Compensation Scheme (FSCS) is ready to start paying claims for some Lehman-backed structured products which were sold to the retail market. RBS' decision relates to bespoke products.
Nick Sketch, a senior investment director at Rensburg Sheppards, said the RBS move, although ambiguous in its nature, was intriguing.
However, he added: 'There must be something else going on apart from the obvious, but I'm not sure what that is and the question on my mind is how does it actually work when you lift up the bonnet?'
True...and why do you think they do that? Scottrade/NITE are hoarders. They don't want the average retail investor buying them.
Scottrade... Tried to enter a buy limit order @ 2.50 and this is what I get... Question of the day, what is the market price? I love it!
Unable to enter the order because the limit price entered is too far away from the market price for stocks under $10.
My 13,000 shares are looking really good right now. Unknown Ask price.
http://money.aol.com/rtn/pr/statement-of-the-office-of-the-trustee-of-lehman-brothers-inc-lbi-settlement-to-finalize-private-investment-management-pim-account-transfers-over-92-billion-transferred-to-110-000-former-lbi-customers-since-sipa-liquidation-commenced/rfid279169391?channel=pf
Statement of the Office of the Trustee of Lehman Brothers Inc. (LBI) Settlement to Finalize Private Investment Management (PIM) Account Transfers; Over $92 Billion Transferred to 110,000 Former LBI Customers Since SIPA Liquidation Commenced
PR Newswire
posted: 5 HOURS 55 MINUTES AGO
NEW YORK, Dec. 10 /PRNewswire/ -- James W. Giddens, the Trustee for the Liquidation of Lehman Brothers Inc. (LBI), the broker-dealer of Lehman Brothers, is pleased to note the U.S. Bankruptcy Court's approval of a settlement agreement with Barclays to finalize the transfer of Private Investment Management (PIM) assets to former LBI customers.
This milestone brings to a successful conclusion the Account Transfer phase of the Securities Investor Protection Act (SIPA) liquidation of LBI. Since the demise of Lehman in September 2008, the Trustee has overseen the successful transfer of 110,000 accounts containing more than $92 billion in customer assets to Barclays, Neuberger Berman, and other SIPC member broker dealers. Overall the Trustee is administering more than $110 billion in the liquidation of LBI, the largest broker-dealer ever to fail. The Trustee's transfers of accounts allowed customers to continue trading within days of LBI's filing, maintaining liquidity and investor confidence through a tumultuous time in the nation's markets.
The PIM conversion of accounts -- effected in accordance with court orders, provisions of the SIPA statute, and regulatory intent -- was the only remaining aspect of the Account Transfers not yet fully complete. The Securities Investor Protection Corp. (SIPC), the U.S. Securities and Exchange Commission (SEC) and the Federal Reserve Bank of New York all supported the Trustee's motion and the Account Transfer process, and with today's ruling their and the Trustee's goal of customer protection has in fact been achieved.
The Trustee is acting pursuant to his principal duty to return property to public customers while at the same time maximizing the estate for all creditors. This settlement does not affect the Trustee's separate, pending claims against Barclays in the Rule 60(b) motion and adversary proceedings, requesting the Court rule that billions of dollars of disputed assets that Barclays is claiming remain the property of the LBI estate. The transfer of these assets would create an unfair windfall for Barclays at the expense of public customers.
The Trustee continues to work through an enormous workload to resolve claims not covered by the Account Transfers in a fair, transparent and orderly process. The Trustee has determined more than 85% of asserted public customer claims filed by the June 1, 2009 deadline, and has made substantial progress in reconciling large, omnibus claims asserted by LBHI, LBIE and others.
Media Contact: Kent Jarrell 202-230-1833
http://online.wsj.com/article/SB10001424052748704193004574588251432823122.html?mod=WSJ_hpp_LEFTWhatsNewsCollection
Lehman Brothers Holdings Inc. is expected to announce the sale of two real estate private-equity funds, according to people familiar with the situation, the latest move by the collapsed New York investment bank to shed assets and wind down the firm.
PCCP, a Los Angeles-based real estate investment firm, will acquire the two funds, which have roughly $2 billion in assets under management.
Lehman, which is being run by turnaround firm Alvarez & Marsal, has now struck deals to divest all six of its so-called "platform" private-equity businesses, including its flagship buyout unit, now called Trilantic Capital Partners. Those businesses represent roughly $22 billion in investment commitments.
PCCP was founded in 1998 by William Lindsay, a former lawyer at Gibson Dunn & Crutcher, and three executives from Wells Fargo. The firm, which counts Lehman and the California State Teachers' Retirement System as investors, has $4.1 billion under management, with stakes in properties including the Fairmont Dallas hotel and Culver Studios movie-production facility in Culver City, Calif.
In taking over the Lehman mezzanine funds, PCCP will acquire about $1.7 billion in largely mezzanine loans, or the debt that fills the gap between a borrower's equity and the first mortgage. Investments include L.A. Live, a sprawling entertainment complex across from the Staples Center, and Troon North golf course in Scottsdale, Ariz.
Because most of the Lehman fund investments were made since 2006, many of these loans are distressed.
"We think this is a huge opportunity to show what we can do with troubled portfolios," Mr. Lindsay said.
PCCP will bring on 10 Lehman professionals based in New York and establish an office there. It will also re-brand the vehicles as PCCP funds, dropping the Lehman name.
Write to Peter Lattman at peter.lattman@wsj.com
They should slap the Js too. I'm sure they will at this price.