Lehman Brothers Holdings Inc. (fka LEHMQ)

[hestheman]

Jimzin, regarding the NOLs....you are only partially correct. For now, the company ownership must remain in tact. When the time comes for a possible merger or new Lehman launch, 51 percent of the reorganized company must be held by old/cold equity OR old/cold debt to maximize NOLs (read my MANY posts on this subject from the Lehnq board). A good example to look at is the Mirant BK chap 11. BK absolute priority must always be followed. In the Mirant case, trust preferred shareholders received a ratio of nearly 1.5 new common share per 1 old share of trust preferred stock after the reorganization. Old common shareholders were not cancelled, but they received a very miniscule amount of new shares. I can see current shareholders in Lehman receiving a similar deal to what Mirant's shareholders received. I think that the value of the new Lehman will be substantial....so a 1/1 ratio for trust preferreds post reorganization/merger could make many millionaires. JMHO