Obviously if Lehman owned some real estate they are probably receiving some lease payments. Once the expenses are subtracted for operating that property, that could result is a profit being declared.
Maybe I wrong, but, shouldn't the expense of Harvey Miller be included in your example?
And what about the expense of A&M? Shouldn't that be included?
I don't disagree with what you've stated here.
Keep in mind too that they no longer have any debt to service. Also any property that is sold they may have a capital gain.
They should be making a profit. So, why aren't we seeing it?
And if they are making profits, then why do they have to continue to hide behind the protection of the BK court?