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.
Interesting. Not much discussion here about the events of this evening. I'm curious to see what happens tomorrow.
FYI - Check out the AH kerfuffle on SAVA. It's reminiscent of an earlier "hit piece" that was investigated and found meritless. SAVA dropped over 40% to the $9's and has recovered a bit from there. This "report" also seems really fishy at first glance and opportunistic at best. Curious if anyone here follows SAVA.
Correction: I incorrectly stated that there are no quotations similar to the grey market. Unsolicited quotes can be public.
Good news and a new beginning is possibly getting close. A reminder though. The CT's are still on the expert market tier. If there are bids they will not be quoted. It's more important to get actual news that Lehman has a future and the CT's shares are moved back to an actual exchange. While on the OTC expert tier, volume is the only information available.
https://blog.otcmarkets.com/2021/03/25/understanding-the-expert-market/
It is confusing.
MONEY NEWS NOVEMBER 9, 2011 8:23 PM UPDATED 12 YEARS AGO
Lehman to sell stake in Neuberger Berman
By Nick Brown
"NEW YORK (Reuters) - Lehman Brothers Holdings Inc will sell its equity in investment management business Neuberger Berman, a move it says will fetch as much as $1.5 billion for its creditors.
Under a deal unveiled on Wednesday in a court filing, Lehman said it plans to redeem its preferred shares at par, then monetize its 49 percent stake in Neuberger’s common equity over several years.
The preferred shares would bring in about $845 million immediately, with more value trickling in from common shares over the next five to seven years, according to the filing in U.S. Bankruptcy Court in Manhattan. The plan is set for an approval hearing on Nov. 30 before Judge James Peck.
In addition to boosting creditor paybacks, the plan could allow Neuberger to become fully independent, the investment manager said in a statement.
Lehman “has agreed to terms affording Neuberger Berman the opportunity to purchase the (Lehman) estate’s remaining interests in the firm, creating a clear path to Neuberger becoming 100 percent employee-owned,” Neuberger said.
William Fox, part of the Lehman restructuring team at turnaround firm Alvarez & Marsal, said Lehman has been working “diligently” to monetize its stake in a way that would allow Neuberger to become employee-owned.
“The strategy we have followed would provide an optimal result for all constituents,” said Fox, who sits on Neuberger’s board of directors.
VICTIM OF THE CREDIT CRISIS
Neuberger was a pioneering mutual fund manager and one of the country’s leading investment firms when it listed on the New York Stock Exchange in 1999. Lehman acquired it in 2003 for $2.6 billion.
But the happy marriage fell apart in 2008 when Lehman succumbed to the credit crisis and filed the biggest bankruptcy in U.S. history, listing $639 billion in assets.
Neuberger was among Lehman’s most valuable and liquid assets and creditors tried to sell it to private investors. But Neuberger’s management, which envisioned an independent, employee-controlled company, prevailed with a deal to buy 51 percent of the firm for about $922 million.
Lehman was left with 93 percent of Neuberger’s preferred equity and 49 percent of its common stock.
The monetization will benefit creditors who have asserted a total of at least $320 billion in claims. Lehman’s most recent bankruptcy exit plan, slated for a confirmation hearing before Judge Peck on Dec. 6, would repay about $65 billion of those claims.
The bankruptcy is In re Lehman Brothers Holdings Inc, U.S. Bankruptcy Court, Southern District of New York, No. 08-13555."
Additional reporting by Joseph Giannone; editing by Andre Grenon
https://www.reuters.com/article/idINIndia-60430020111110
.
etzetrade - CT's are unsecured creditors. I don't see how Lehman CT's would have been paid from the Neuberger distribution since that money went to senior secured creditors. Your friend may have purchased another debt instrument that was more senior. How much money did your friend get?
Cotton - Yes. See my update with link at the end of that post to 4dux.
Most of the paragraph I copied in that post was about Nomura and the Lehman assets it acquired. The last few lines were Neuberger Berman. If you read the links I posted, some very strategic pieces of the Lehman ship were quickly dispersed to Barclay's Nomura and Neuberger. NB is private corporation 100% employee owned. Would it want to become public? Nomura wants a presence in the US and Barclay's wants something.... Lehman needs to have old cold shareholders for 50.1% of the company for the NOLS to be used in the restructuring. It just makes me wonder if all these earlier pieces aren't important to a final picture. How they fit I do not know.
TooGood - I have a gut feel there could be something there with NB. There was a big "carve out" of Lehman early on with Barclays, Nomura, and NB. Then the OBS. I feel there was a foundation laid in place for the future but that's my speculation. I think I've forgotten a lot since the pre 2013 days. It also made me look up Nomura so check this out.
https://en.wikipedia.org/wiki/Nomura_Holdings
https://www.nomuragreentech.com/
Any bells ring for you with Nomura?
Not sure if carve out is the correct phrase.
https://tinyurl.com/mwcdzf3n
4Duxs - Don't know if this is helpful to your question but it is a reminder. This last paragraph in particular.
On September 22, 2008, Nomura Holdings announced that it had agreed to acquire Lehman Brothers' franchise in the Asia Pacific region, including Japan, Hong Kong and Australia.[26] The following day, Nomura announced its intention to acquire Lehman Brothers' investment banking and equities businesses in Europe and the Middle East. The deal became effective on Monday, 13 October.[27] In 2007, non-U.S. subsidiaries of Lehman Brothers were responsible for over 50% of global revenue produced.[28] In October 2008 Japanese financial services company Nomura Holdings stepped in and acquired three Mumbai, India based divisions of Lehman Brothers that provided back office and IT operations. Nomura also acquired the Asia Pacific division of Lehman Brothers as the US banking giant was carved up by rivals. [29] Lehman Brothers' Investment Management business, including Neuberger Berman, was sold to its management on December 3, 2008. Creditors of Lehman Brothers Holdings Inc. retain a 49% common equity interest in the firm, now known as Neuberger Investment Management.[30]
https://www.sourcewatch.org/index.php/Lehman_Brothers
https://www.nb.com/en/global/home
Not sure if this has been updated or if any of this has changed since 2009. If the 49% LBHI equity interest is still true then that would be encouraging. If anyone knows anything for sure chime in.
Update: Looks like it was sold in 2011. https://www.reuters.com/article/idINIndia-60430020111110 There's just too many moving parts to remember. My apologies.
Unfortunately political correctness has infected everything in today's world so it doesn't surprise me that you were taught that
https://tinyurl.com/bdz73pk5
I'm old enough to have been taught well before political correctness was a thing. While the masculine pronoun used to describe God, I was taught that God was not male or female.
Okay let's just unpack your post.
With that train of thought you might as well give Satan the glory for his disobeying God in the garden and attacking the humans which started the whole reason for Christ to save us in the first place.
How can Satan disobey an omnipotent God? I assume he's testing Eve's free will. For God or for himself or both? I mean he's little g to the big G who is omnipotent and can do whatever it pleases. I think Lilith was HIStory at this point. You know the first wife to Adam.
https://en.wikipedia.org/wiki/Lilith
Heck without Satan we'd probably not even have a stock market to talk about.
We're made in the image of God. Why couldn't we have a stock market after a couple of millennia? We may not be omnipotent in the physical world but we are God dirt.
No we don't need to praise evil that good may come humanity was just fine before Satan threw a wrench into everything.
God is omnipotent (everything) and is therefore the source of both good and evil. Satan is part of God wrench and all.
But in God's mercy he immediately decided to restore us back to himself by the blood of his cross. For without the shedding of blood there's no remission of sins as it says in the book of Hebrews.
God has blood only after Jesus died to forgive all of humanities sins. Now that's good drama. It remains to seen if evangelicals can be manipulated to become the cult inspired soldiers needed to destroy the US constitution if its said to be God's will.
.
Belief in any God as a supreme being is a freedom this country was founded on. Our founders were mostly Deists, not Christians. Some were fleeing religious persecution. And they were specific in the constitution to separate politics and religion from government.
https://www.uscourts.gov/educational-resources/educational-activities/first-amendment-and-religion
You keep using He for God. I was taught that God is nonsexual. Neither male or female. God is omnipotent allegedly encompasses all things including both genders . Why? Satan or Lucifer? Are they the same angel? Is a garden that is stocked with a forbidden fruit tree really a paradise when you are created in God's image? Rules are made to be broken right? Make A Garden Awful...again?
The war? Between good and evil gods, or God and humans who were created in their image? History is full of gods behaving like humans in reality episodes of Big Brother. I learned what you are saying and lost my way at the crucifixion when my confirmation preacher couldn't explain to me why Judas wasn't the most annointed disciple in the Christian religion. Without his "betrayal" Christ might never have been crucified and the Christian religion would never have achieved immanence some 300+ years later.
Gardens don't start wars. God's angels and humans do. And its been convenient to have a God to praise, blame or use as a reason.
https://en.wikipedia.org/wiki/Immanentize_the_eschaton
Stickft - Imo religion has little to do with the stock market or politics. Wasn't it you that pointed out our world is Satan's domain? So God must have had many other things to attend to after making humans in its image and yet left Satan to rule earth even after sending his son to be tortured and crucified to absolve all of our sins past and present (even at the very last minute) before creating a war between good and evil otherwise known as the Apocalypse. You might be onto something though I'm not sure it's God.
GDL - Did you read my link? It showed the flaws in the poll and we both know that early polls can be very wrong. Hint: 2015 Hilary was strong. While she did win the popular vote, Trump squeaked a win through the electoral college.
https://www.cnn.com/2015/09/28/politics/hillary-clinton-donald-trump-poll/index.html
So Trumps current strength is foundationally still with the MAGA's and I do not think that they will be enough to get him into the White House in 2024. I can help you with various podcasts that show how unsuitable Trump is to be the RNC candidate. We can help save democracy for the US and I'll be happy to post them here. Then you can focus on the market.
September was supposed to be bull run and a great ride from your earlier posts. Tomorrow's stock market run better be YUGE or my earlier post that showed September being a consistently negative month for stocks was considerably more accurate than yours. My crystal ball says Trump isn't the winner in 2024.
There you are. Took you longer than I expected. Too funny!
Or it's an out "right" lier.
https://tinyurl.com/mue442m4
You aren't hysterical to me because your posts don't make me laugh. HPD maybe.
JHawg - Perhaps you could ask your friend that emailed the PDF for their thoughts since they thought it was important?
I read it and it concerns the Ecaps. so at least that part I understand. The Ecaps have been discussed frequently on this board but they are not the CT's. Any resolution concerning the Ecaps should be one step closer to closing this chapter 11 reorg. I'm more surprised that TooGood hasn't chimed in about the NOL's being our only hope (and Lehman's) for salvation. My guess is your friend wanted to get the board posting about something and I do feel things are moving to a conclusion. I like the quiet here. Too many boards are noisy stock brothels with mean phukkers.
Still here and waiting.
GDL - You're welcome. Please review my previous posts. I agree with you about Trump and the GOP. I've clearly stated that in multiple posts and you disagree with my posting here. I find it odd that you are antagonized by my posts. Cooler heads don't appeal to you. C'est la vie. One way you could really help to push the political needle or the HEROIN FOR HIS BASE away from Trump would be to be to post about the Biden administration's efforts to govern in this "diabolical" situation. I don't think you'll ever do that.
this nation is a duisgustingly immoral hate filled Piece of Shit that deserves everything it has coming. Germany had a better excuse endorsing Hitler. I suspect this economy will TANK before next election assuring him the win.
You "suspect" the economy will tank before the election. It's over a year away so I'm surprised you felt the need to use a qualifier.
OK you can have your wish. I'll leave your board so you can continue to rant to yourself about the wonderful evil power of Trump and the GOP. Promoting fear and inciting hatefulness of others has not been my jam ever. I see you however need that outlet. May cooler heads than yours prevail in the long run. Namaste.
GDL - Yet here we are at a voting divide at 50%! Astonishing! Really? Well I think you pulled that statistic out of your righteous gemstones.
August 16, 2023
Majority Of Americans Say Trump Should Be Prosecuted On Federal Criminal Charges Linked To 2020 Election, Quinnipiac University National Poll Finds; DeSantis Slips, Trump Widens Lead In GOP Primary
In the wake of a federal indictment accusing former President Donald Trump of attempting to overturn the results of the 2020 presidential election, Americans 54 - 42 percent think Trump should be prosecuted on criminal charges, according to a Quinnipiac (KWIN-uh-pe-ack) University national poll released today. Democrats (95 - 5 percent) and independents (57 - 37 percent) think the former president should be prosecuted on criminal charges for allegedly attempting to overturn the results of the 2020 presidential election, while Republicans (85 - 12 percent) think Trump should not be prosecuted. The poll was conducted from August 10th through August 14th.
Nearly two-thirds of Americans (64 percent) think the federal criminal charges accusing former President Trump of attempting to overturn the results of the 2020 presidential election are either very serious (52 percent) or somewhat serious (12 percent), while roughly one-third (32 percent) think they are either not too serious (11 percent) or not serious at all (21 percent)....excerpt.
https://poll.qu.edu/poll-release?releaseid=3877
Trump boasts strong support among Republicans. The general election could be a different story
Politics Aug 16, 2023 5:57 PM EDT
NEW YORK (AP) — After every new indictment, Donald Trump has boasted that his standing among Republicans only improves — and he has a point.
Nearly two-thirds of Republicans — 63 percent — now say they want the former president to run again, according to new polling from The Associated Press-NORC Center for Public Affairs Research. That’s up slightly from the 55 percent who said the same in April when Trump began facing a series of criminal charges. Seven in 10 Republicans now have a favorable opinion of Trump, an uptick from the 60 percent who said so two months ago.
But in a crucial warning sign for the former president and his supporters, Trump faces glaring vulnerabilities heading into a general election, with many Americans strongly dug in against him. While most Republicans — 74 percent — say they would support him in November 2024, 53 percent of Americans say they would definitely not support him if he is the nominee. Another 11 percent say they would probably not support him in November 2024.
The findings bolster the arguments of some of Trump’s rivals for the Republican nomination who laud his tenure as president, but warn that he can’t win in a general election when he must compete for votes beyond the GOP base. Trump lost the popular vote in the 2016 campaign, attaining the presidency only by winning a majority in the Electoral College. He lost to Democrat Joe Biden by an even larger 7 million-vote margin in 2020, a defeat he has falsely attributed to widespread voter fraud....
https://www.pbs.org/newshour/politics/trump-boasts-strong-support-among-republicans-the-general-election-could-be-a-different-story
I'm watching it all again. It's been years and it is more interesting now in a way to be honest.
Thank you. Sometimes a bit of drama is needed. There's a fine line between education and influence. Social media has changed this world like the printing press in the 1400's and it took centuries to get to the enlightenment. Things progress with more speed today. Social media is still in its infancy and combined with AI advancement, these are new habitats for informing the world and shaping its future. It's important. I hope we understand how important.
Here's a blast from the not so Wayback machine
Gdl - A post with not a single political comment. Much easier to digest without all of the extra fat. Thanks! So this year is different
https://tinyurl.com/4u8ecvp5
Cool!
GDL - At what point does killing become a crime?
Is that a rhetorical question? I hope so. Speaking of brain dead you should watch that series. It only had one season. It was funny and well cast. I hated that it was canceled.
GDL - Think this is cray talk?
I do not. It feels more like you are constantly pushing a highly negatively charged narrative toward an end game of political anarchy. It makes me think that's the reality you want to actually manifest. I have no clue why just my internal scepticism.
Trump has 4 indictments. He will be tried in a court of law and he could be found guilty. I highly doubt he will be president if that happens. What if he doesn't win the GOP nomination because he fails in the primaries? What if even his voters and peers tire of his lying, innate disrespect, insecurity, emotional manipulation and lack of loyalty to anything or anyone that doesn't benefit him? These are possible outcomes that you don't ever mention and there are a number of other "what ifs..."
Good luck with your political stock market analysis.