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.
Selling shares go almost immediately. There’s buyers out there but they sure do a good job walking the price down on low volume.
Thanks Swiss, for searching. I looked as well about two years ago and I could find very little current activity or corporate presence.
Here’s a head scratching blast from the past. Do any of you remember that a former Lehman executive rejoined Lehman UK? He was in charge of Europe and Africa for business development of some type. It was a news wire worthy hire. He had left in 2008 and came back around 2014. I took it as good news. We had his name, I wonder if he’s still with them. I don’t see any news activity about Lehman so I do wonder if there’s still an organization.
Cheers to all and stay cool.
Possible off balance sheet assets are the NOL’s and any legal settlements for improprieties in the MBS securities that Lehman had. The MBS lawsuits are pretty old news, but still not settled I believe. That’s a source of new capital. I think waiting to complete most creditor settlements like they have and then starting the suits is smart. It’s what I would do if I was in a reorganization plan verses liquidation. They may have some under valued assets currently valued at book not what a current market value would be worth. Under valued assets are not likely as any creditor scratching for repayment would challenge book values. I can’t imagine any off BS assets. That would be quite a liability to many if discovered and may be subject to clawback laws.
Bottom line the CT’s remain so cheap that it’s an easy decision to hold them until results are in. I’ve “only” been here four years. I do have empathy for those of you who’ve been here for the duration.
Have an enjoyable weekend all and stay safe.
I’m heading to the golf course. Cheers
Thanks Jersey. I’ll try an understand the judge. It doesn’t seem to be consistent in that the ECAPS were just paid out in the last year or so. That to me makes a comparison with the CT’s lack of payment a more recent “damage” and should have some standing. It sure sounded like the judge just said, I’m tired of this and nope, not going anywhere on this. I want to wrap this up. The judge probably ruled/feels there will be losers and a few that get money, too bad for CT’s. Next.....
Jersey, I looked, nope not yet and I will look tomorrow. Thanks for the update. I know it must not be positive, but you’re only the messenger. Hey, maybe we’re just going to wait til it’s all closed up to see if there’s a present or a turd.
Be safe all of you and enjoy the things in life that give you pleasure. Cheers
Hello Jersey, could you offer more info? Interpreting your comment, seems like big time $ NYC lawyers had a slap down?
Thanks Camaro. After I sent in the letter of support, I quieted down a bit, but I’ve stayed current with any developments. I appreciate everyone’s efforts. I am encouraged that debtors continued to be eliminated. With the NOLs still there and lawsuits to recapture still going on the odds keep moving in our direction.
Thank you to everyone who helps keep us informed and are fighting the fight.
Happy Mother’s Day to all your mothers and to any of you that might be mothers.
Jersey, my uncle just left the Maryland and was walking in the dock at Pearl. He never went back to Hawaii after the war. He lived in Washington til the old age of 96. I too hope we get something. It’s time to move Lehman on after a lost decade+.
Not me, but wow I would have if I could have.
Thinking about the passage of the massive pork coming out of DC today. Would Lehman be able to avail themselves of some of this while in BK? It made me research the number of current employees. All I could find was 79 employees on LinkedIn and most were in the UK. Since this is a reorg, I would think there would be some public presence. I could find none on google, or any social network sites. Does anybody have any idea of the current structure?
BTW, I like that they are filing suits of recovery this late in the BK. Someone is watching the woodshed.
Lots of share activity today, currently 80,000+ trades. Can’t say that it shows any trend though.
My feeling is Lehman rises to live again. We’ll get something worth our wait. Just remember to enjoy life now. Cheers
I’m only seeing a 100 share buy.
My caveat that J was thinking it was Lehman debt owed to someone else. If Joe really means what you stated we’ll then ??
Yep, at .10$ to the $25 debt. Great investment especially if one is certain of relist.
JH, thanks for the update and pass along a hello from me to Jimmy. With the FM being around $50/sh that’s a big number and growing.
I’m trying to logic how they get the original investors to pony up $25/sh to begin with and then ask them to settle for 10% ($5)? It seems like a real Ponzi scheme but they raised billions. What was in it for them to fund this? Maybe if you were owed a lot of dough you sent some good money after bad $ to help them sort it out and pay you? IDK
I’d be pretty unhappy as an original investor ( read banker or professional investor) to not get at least my capital back. With the time value of money of that would be a real bad investment.
That brings me back to why originally invest. Also why settle for $5, better to hold off for the final final than only $5 bucks if I’m an original investor.
Me, I’m not only a late comer, 2016. But this is also my first rodeo in CT’s. I did find in the prospectus that any shares acquired by the issuer can cancel out the debt ( of course). That seems to me why the price yo-yos so low and any sells are snapped up.
It seems like any big players would want their capital back at least if not the FM.
I’ve had that from Fidelity for 18 months or more as well. I have bought a lot through them before. I rounded out my position with TD.
I’ve gone back to Fidelity about this on their bond desk and complained and have gotten nowhere. They don’t like the risk and it’s too small a trade to reopen it for retail is what I’ve been told.
Fools the state will monitor them even more with local phone providers.
That’s really interesting news. I would think we will get good clarification from the hearing.
Thank you Mr Wu!
Hmm, is it tough when nobody cares or listens anymore?
Thank you Cotton
I need shares, market maker message
Take care of yourself, lots of water this summer. My 70+ brother in law loves to umpire girls softball, been behind the plate twice for the World Series finals, double Purple Heart in Nam. He’s been in the hospital twice dehydrated in the last couple years. Take care, water is tasty. Heck, put an olive in it and shake don’t stir. ????
Thank you for sharing your research Cotton. I, among many here, would gladly meet you at an evening stop with a whiskey and steak while you’re on the trail.
Hiking the Pacific Crest Trail providers are call Trail Angels, those who provisions for the hikers.
Didn’t Ugoletti high tail it to Ecuador? Gee that doesn’t appear like he testified with anything improper does it?
I agree Trunk. I’m a Fox watcher and I’m incensed that they don’t protect the shareholder via capitalism. Very un Fox like. Maybe Fox should be put into conservatorship. See how they appreciate the loss of their ownership rights.
While I agree they all are speaking the same recap tone, I’m wondering why we don’t see larger price appreciation. Seems like if the rumor is fact some of those greedy SOB’s would be pushing the shares and Jr Pfrds higher.
Am I the only one wondering if rumor is fact why is it not showing yet.
Buddies,
I had been a bit occupied but I wanted to review the resume of PeterPaul the executive for Lehman Distribution. It’s quite impressive, Pimco, BlackRock etc. PeterPaul appears to be in mid career form. Highly doubtful he would take a flyer if this wasn’t a company he’d expect to be with for awhile. My apologies if this was already researched.
Mr. PeterPaul Pardi served as the Head of Global Distribution at BNY Mellon Investment Management Holdings LLC until 2015. Mr. Pardi was the Global Head of Distribution at BNY Mellon Investment Management EMEA Limited, since April 2012 and its Chief Executive Officer. Mr. Pardi has been Global Head of Distribution for Investment Management at The Bank of New York Mellon Corporation since April 2012. Prior to this, Mr. Pardi served as the Global Head of Institutional Investment Placement at Arcapita Bank, Corporate Investment Arm. He served as the Executive Director of Investment Placement and Partner at Arcapita Bank B.S.C.(c), Investment Arm. Mr. Pardi served at PIMCO, Lehman Brothers Investment Management and Barclays Global Investors. He oversaw the development of the institutional funds business for institutional and sovereign wealth relationships. Prior to joining Arcapita in 2008, Mr. Pardi was at Lehman Brothers Investment Management in London for two years, where he served as a Managing Director and International Head of Distribution and Client Services for Europe, the Middle East & Asia. He served as a Managing Director and Head of Distribution for Europe, Middle East & Asia at Lehman Brothers Holdings Inc and was responsible for forecasting investment management acquisition synergies. Previously, Mr. Pardi served as an Executive Vice President and Head of Institutional Remarketing for Europe at Pacific Investment Management Company LLC where he worked for four years. He served as the Head of Southern European Institutional Business at BlackRock Institutional Trust Company, N.A. and a Merchant Banker at Security Pacific. Mr. Pardi has 19 years of investment experience and has more than 20 years of client and business development experience, primarily in financial services and asset management. He has an MBA from the American Graduate School of International Management, an MSc in quantitative investment management from the University of Southern California, and a BA from Tufts University.
Safe travels Wayne. May the next time you travel back to the states you have your trifecta in the bank. Cheers
Mel “ the laws don’t apply to me” good riddance.
Happy New Year to all and a profitable one for us as well!
I believe $20 (50%) to full value. I believe that there far more assets out there and the NOL. As Lehman gets near the end the mgt will want to try to rescue the company and bring it back. I too think it will be shared but in that dollar range.
Glenn,
Now that the elections provide a split congress. Will it compel administrative action sooner? Can you give your idea on when action may begin?
Cmdr, do you know when Delaware court will publish next decision? I am seeing a trend where courts are more favorable in their findings. I’d like to add another prior to Sweeney weighing in late this year. TYIA.
Wayne49, Jersey, the filed claims were stated as the total higher amount filed. The settlement amount is and has usually been negotiated lower. So then when stated and wanting to look like they’re doing their job, claims:$xxxxxxx and settle/paid claims would be a lesser amount of the total claims filed. Yet all the claims would be reported as settled as of the total filings settled to date.
Sorry for the delayed posting of a response to your question.
No I don’t think so. Remember they stayed many claims didn’t get paid full claim value. I believe that could be the difference.
Wife’s Dutch, came over at 8. She’s from near Haarlem. We did a month there last summer, fun area.
Am I the only one that would like to RV plus accrued guaranteed interest? That now is a bit north of $40.00/sh. I’m one that says Lehman Phoenix rises from the GS screw job, mauled but not dead. Just what our payout we’ll all someday see.
Bombay Sapphire and tonic as I watch a red sun drop in our smokey western sky. Cheers
So is Legal Seafood for lobster
Sorry, I don’t understand the ratio you tracking. Please explain.
It’s a game of no peek-em poker, for sure.