Replies to post #64 on The Zombie Dancers

[stripus]

Could Take 10 Years To Wind Up Lehman Europe - BBC)

LONDON (Dow Jones)--Lehman Brothers' European operations may take a decade to wind up, its lead administrator told the BBC.

"I think we will break the back of the case in the next 30 to 36 months, but the rest of the case will continue for many years after that," said PricewaterhouseCoopers partner Tony Lomas.

PwC has recovered GBP5.5 billion, but there are "many more billions" still left to recover, Lomas said.

The administration team is preparing to file a claim of around $140 billion against Lehman's parent company in New York, including the $8 billion that was "swept back" to the U.S. two days before Lehman filed for Chapter 11 bankruptcy proceedings.


Full story: http://news.bbc.co.uk/1/hi/business/8255782.stm


-London bureau, Dow Jones Newswires; [phone]; [e-mail]


Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/access/al?rnd=TGHFz2YpriWEC26XTTeOsA%3D%3D. You can use this link on the day this article is published and the following day.



(END) Dow Jones Newswires

September 15, 2009 03:24 ET (07:24 GMT)

Copyright (c) 2009 Dow Jones & Company, Inc.- - 03 24 AM EDT 09-15-09

[stripus]

2 great posts illustrate what we see is happening at Lehman:

Posted by: joshkocses Date: Tuesday, September 15, 2009 8:27:13 PM
In reply to: mb6333 who wrote msg# 6179 Post # of 6191

That is only as predictable as the information we have to predict it with. If we use what I teach my students is an "al-gore-rhythm" we can deduce a time most likely for this rise in PPS to occur. We know that the stock's PPS peaked on September 1st of 2000 to $161.00 and again it spiked to $157.00 on April 1st, of 2006. We know that on September 8th of 2008 this stock was trading at $17.00 a share and that on September 15th Lehman Brothers was trading for a a mere quarter, $0.25cents. So after a ride to $0.05 bottoming out around four cents in December of 2008 we can see three distinct "blips" on the chart. Those "Blips" are the rises and plateaus on January 8, 2009 (ironically Elvis Birthday), April 29, 2009, and again this past August. Those rises are showing a patern of increased confidence. So like predicting a cancer patients death, it's hard, but I would say that most probable, coupled with the fact that recently people are starting to realize that Lehman isn't dead, we will see a rise to September 2008's value in the next three years. Yes, if things keep going, and Captain Bly get's this Lehman Brothers life-boat back to England and before the Queen's Court, then this stock can go to $18.00 a share before the next election. This ship we call Lehman Brothers sailed for over 100 years, and now like castaways there is a rag-tag bunch of rebels cleaning her decks and manning her sails. In fact they are still operating a store front in Wilimington, Delaware and I read an article today. Lehman represents the old-school, the die-hards, and we aren't going to let that ship sink. Lehman Brothers is now a band of modern men (and women) of mercantilian honor. Lehman Brothers stands for more than any CPA or CFO can put to pen on a financial sheet. Lehman Brothers is being owned by those who never could have owned it, by simple Americans like me, and now, now that ship is invincible, because even the paper our government prints its powers on can't break the bond men and women have when they haven't been able to own something for over 100 years and suddenly are in a place and time unseen of before, and owning 10,000's of shares in a company that isn't entire dead or going to die. We're left on board the USS Lehman Brothers staring at the decks of the USS AIG and USS Citibank getting life-support to live. Lehman Brothers is going to live because just like in the last scene of Pretty Woman, where Richard Gear's character breaks his hostile takeover bid and agrees to partner with the Texas tycoon to "build great big ships"...that's what Barrack Obama and John McCain are finally going to lead this nation into doing. Accept this time, the ships are going to Mars.

Joshua

Posted by: joshkocses Date: Wednesday, September 16, 2009 7:56:33 AM
In reply to: VivaLasVegas who wrote msg# 6187 Post # of 6191

Read my past three posts, I don't want to repost them because I don't think we're allowed to repost posts in this posting places website called Ihub, but in short the reason why we are seeing a rise in PPS is like why the doctors kind of wait a few minutes before putting the corps in the morgue, or the term "dead ringer", for when they would put a bell on a string in the cemetary just in case the person they burried "wasn't quite dead yet". So is the case with Lehman Brothers. This ship Lehman Brothers sailed for over 100 years, now she is being run by a skeleton crew. We Lehman shareholders and employees are merely a small bank front in Wilmington, Delaware with a few thousand die-hard investor-risk takers who know that there is more than meets the eye, and that there is no one alive who is as old as what we are talking about. We have a new tool, and we are using it right now to keep Lehman alive the same way any other company in America, in fact America itself has been kept alive, by believing in it. We are an internet posse of folks like us churning up the smoking parlors with nastaligic Lehman Brothers conversaions; everywhere from the Whitehouse to your house where you are reading this now. This company isn't going to die off without a fight, not that quickly, that's what the folks in Chicago want, a quick clean break. Well it ain't happening, and the rise in PPS is proving it. We're not talking about college dorm rooms with kidsd betting their FAFSA checks, we're talking about guys who just lost everything having to really put their heads to the grind stone and stay alive. It's a much different market stragey now a days. Now it's more like war. In this case, Lehman Brothers has something grassroots that other companies and cash itself doesn't have; good will and a name that to this day turns heads. Lehman Brothers will be alive just like Board Walk & Park Place will always be on Monopoly Boards even when Atlantic City is washed away in the next hurricane. Most people don't even know monopoly streets are named after places in New Jersey. Still Lehman Brothers will be the same, and it will live on in the internet with a small store front of umpaloompas and Mr. Wanka running the chocolate factory in Wilmington, Delaware.

Joshua

[stripus]

(Uncertainty at another condo tower: The Catalyst uptown halts condo sales as lenders take over and review options. Current residents unaffected, developer says.)


Sep 19, 2009 (The Charlotte Observer - McClatchy-Tribune Information Services
via COMTEX) -- The lenders of the Catalyst have taken ownership of the uptown
residential tower, and condo sales for the 462-unit high rise were on hold as of
Friday.

Developer Novare Group said it "restructured its relationship" with an
investment fund controlled by affiliates of Lehman Brothers Holdings this
summer, the company confirmed with the Observer. As part of the restructuring,
Atlanta-based Novare transferred its "economic interest in several assets" to
the lenders, the company said.

There have been no foreclosure proceedings started on the Catalyst, Novare Group
executive vice president Conor McNally said. The other assets transferred to the
lenders include Novare's interest in the 440 S. Church St. office tower in
uptown, a retail center in Austin, Texas, and development sites in Atlanta and
Nashville.

Novare Group is currently managing the Catalyst on behalf of Lehman, but said
new management will take over by the end of the year. McNally declined to
elaborate.

"In the meantime, we're keeping our heads down and it's business as usual,"
McNally said. "It's a great building. It's a great asset. It continues to do
well. It's business as usual for residents who live there."

Once slated as a condo high-rise, The Catalyst converted half of its 462 units
to apartments in February after condo sales sank in Charlotte. That conversion
triggered a loan restructuring, McNally has said.

On Friday, Novare said it has leased more than half of the apartments and that
more than 100 residents now live in the 27-story building on South Church
Street.

The company has written sales contracts on about 10 percent of the condos, but
because it has not pre-sold enough units it is unable to close on them, McNally
said. He said Lehman Brothers is evaluating the situation and is expected to
decide how to move forward within 30days.

"We wouldn't write a new sales contract until we've been given a decision," he
said.

At the end of the second quarter, the Charlotte area had 2,459 condos either
under construction or finished but vacant, according to national industry
tracker Metrostudy. Of those, three-fourths are in Charlotte's uptown area,
according to the firm.

The total condo tally represents more than three years of supply at current
sales rates.

Through June, sales of new condos in Mecklenburg County were down 70 percent
from a year ago, according to Market Opportunity Research Enterprises. That
compares with a decline of 57 percent in new home sales overall.

Center City Partners president Michael Smith said the Catalyst is a "great
investment in our city." If the building were to turn to all apartments, the
Catalyst still would be a boon for the area because it would bring hundreds of
new residents, said Smith, whose group advocates for uptown.

"That's a meaningful change," he said. "The texture of communities is people."

The residential mortgage market meltdown has halted development of all kinds,
and real-estate experts are watching commercial real-estate developers closely
as debt payment deadlines approach.

Some experts say commercial real estate will be the next to falter in the credit
markets, which could further roil the economy.

In Charlotte, Novare beat the bear market when it built the popular Avenue, a
36-story condo tower uptown that sold out before being completed in 2007.
Another Novare project, a proposed residential/hotel tower named TWELVE that was
to be developed adjacent to the Catalyst, is on hold indefinitely.

Novare, which still owns the land, is currently building a parking lot at the
site.



To see more of The Charlotte Observer, or to subscribe to the newspaper, go to

http://www.charlotteobserver.com. Copyright (c) 2009, The Charlotte Observer,

N.C. Distributed by McClatchy-Tribune Information Services. For reprints, email

[e-mail], call 800-374-7985 or 847-635-6550, send a fax

to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave.,

Suite 303, Glenview, IL 60025, USA.

Kerry Hall Singe


Copyright (C) 2009, The Charlotte Observer, N.C.

[stripus]

(Morgan Stanley Vends Lehman Claim)


Sep 19, 2009 (Zacks.com via COMTEX) -- Morgan Stanley (MS) sold a claim on $1.2
billion of Lehman Brothers' (LEHMQ) liquidation to about 10 different investors
this week. The claim was connected to approximately 10,000 derivative
transactions for which Lehman was the counterparty. The sales price was 38.5% of
the face value or $462 million. Lehman Brothers Holdings filed for Chapter 11
bankruptcy protection in September 2008. This was the high water mark of the
credit market turmoil. After this big fall, some counterparties suffered huge
losses, which are now looking to claim. Some investors have the capability of
recovering more on the claims than what the original sellers of the claims
expect. As a result, demand for buying and selling those claims has increased
significantly. Furthermore, with signs of recovery, the recent market stability
boosted the trading opportunities in these claims as their value increased over
the last six months. One of the first big blocks of claims was traded by
Deutsche Bank (DB) in June. Deutsche traded more than EUR500 million in the
liquidation of Lehman's European operating company, Lehman Brothers
International Europe. Last month, hedge fund Citadel Investment Group sold a
claim on $423 million of Lehman Brothers' assets to Credit Suisse Group (CS),
according to a filing at New York Bankruptcy Court. Though cyclical headwinds
and market turmoil are expected to persist for a while, we believe that the
management of Morgan Stanley is staying the course to emerge from the downturn
and building a strong competitive position. However, the current backdrop
remains challenging, given the weak housing market and increasing unemployment.
Morgan Stanley's second quarter results experienced continued improvement in
credit default spreads and it was among the first banks to repay the bailout
money. Given the continued momentum in its core institutional securities
franchise and cost containment measures, we expect Morgan Stanley to deliver
strong results in the near future.

Get real-time market insights and profitable stock recommendations from the team
of analysts at Zacks Investment Research.See all today's Analyst Blog entries.


Zacks Equity Research

[stripus]

(Bain Capital Said to Buy 35% of SUNAC Group from Lehman)


TIANJIN, Sep 23, 2009 (SinoCast Daily Business Beat via COMTEX) -- Bain Capital
LLC has agreed to take over a 35% stake in Tianjin-based real estate developer
Sunac China Holdings Limited (SUNAC Group) from the bankrupt Lehman Brothers
Holdings Inc., disclosed sources familiar with the matter on September 22.

The holdings, on which Lehman Brothers spent USD 200 million in 2007, is about
to be acquired by a fund under the aegis of Bain Capital, said a source. The
stake came under the custody of the bankruptcy administrator of Lehman Brothers
after the US-based firm spiraled into a bankruptcy amid the financial crisis,

The deal came shortly after SUNAC Group filed for an initial public offering
(IPO) in Hong Kong, according to another source, noting that the Tianjin company
had to put off its planned IPO because of the collapse of Lehman Brothers.

Currently, Bain Capital is the second biggest shareholder of GOME Electrical
Appliances Holding Ltd. (SEHK: 0493) with a 32.26% stake.



Source: www.hexun.com (September 23, 2009)



Copyright 2008 SinoCast Daily Business Beat. All rights reserved