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BUSINESS
September 11, 2010 | By Nathaniel Popper, Los Angeles Times
Lehman Bros. is supposed to be dead and gone, but if you step off the elevator at the 40th floor of a midtown Manhattan skyscraper, you might think you've seen a ghost. Behind imposing glass doors stands a gleaming brown reception desk displaying, in silver letters, the name of the Wall Street giant that collapsed spectacularly two years ago this month, triggering the worst phase of the financial crisis. Well-dressed Wall Streeters buzz back and forth. On one floor, investment managers tend to tens of billions of dollars of real estate and other holdings.
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BUSINESS
January 30, 2014 | By Roger Vincent
A subsidiary of Lehman Bros. Holdings Inc. has sold the Serrano Apartment Homes in West Covina to BAG Investments of Bevelry Hills for $29.4 million. Built in 1959, the Serrano has nine two-story garden-style buildings housing 195 two-bedroom, one-bath units.  The complex, which is on a nine-acre site at 1513 W. San Bernardino Road, also includes two pools, basketball courts, a picnic area and laundry facility. QUIZ: Test your knowledge of mortgages Lehman acquired the property in September 2012 through foreclosure proceedings, according to Andrew Kirsh, an attorney who helped represent Lehman in the transaction.
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BUSINESS
March 12, 2010 | By Nathaniel Popper
In the months before Lehman Bros. collapsed in late 2008, setting off the global financial crisis, the investment bank used an accounting trick to make it appear to have greater liquidity than it did, a court-appointed examiner alleges in a report unsealed Thursday. A number of top Lehman executives, including former Chief Executive Richard Fuld, knew of the alleged manipulation and could be held liable for it, according to the report by Anton Volukas, who was appointed by the federal judge overseeing Lehman's bankruptcy to investigate the causes of the firm's demise.
OPINION
September 20, 2013 | By Eric J. Weiner
Five years ago, this week, the world of finance and economics changed forever. At least that's the story. It started with a sad milestone in Wall Street history: the fall of the House of Lehman. Between Sept. 13 and Sept. 20, 2008, Lehman Bros., the legendary 158-year-old Wall Street firm, wobbled, stumbled and finally ceased to exist. In the conventional narrative, the failure of Lehman and the equally storied trading outfit Bear Stearns was part of an epic, once-in-a-generation meltdown in which global financial markets collapsed simultaneously in ways that nobody could have possibly foreseen.
OPINION
September 18, 2008 | Frances Dinkelspiel, Frances Dinkelspiel, author of the forthcoming book, "Towers of Gold: How One Jewish Immigrant Named Isaias Hellman Created California," is Hellman's great-great granddaughter.
It's ironic that, as the mortgage crisis pushed Lehman Bros. Holdings Inc. into bankruptcy and probable demise, the storied finance house couldn't find a savior in its hour of need. Had Lehman turned a similar cold shoulder to Los Angeles more than 125 years ago, the contours of California's evolution likely would have been much different.
BUSINESS
January 30, 2014 | By Roger Vincent
A subsidiary of Lehman Bros. Holdings Inc. has sold the Serrano Apartment Homes in West Covina to BAG Investments of Bevelry Hills for $29.4 million. Built in 1959, the Serrano has nine two-story garden-style buildings housing 195 two-bedroom, one-bath units.  The complex, which is on a nine-acre site at 1513 W. San Bernardino Road, also includes two pools, basketball courts, a picnic area and laundry facility. QUIZ: Test your knowledge of mortgages Lehman acquired the property in September 2012 through foreclosure proceedings, according to Andrew Kirsh, an attorney who helped represent Lehman in the transaction.
BUSINESS
June 13, 2007 | From Times Wire Services
Lehman Bros. Holdings Inc., the nation's fourth-largest investment bank, said Tuesday that robust stock trading and corporate buyouts pushed second-quarter profit up 27% in what may be a harbinger for other brokerage earnings due this week.
BUSINESS
June 20, 2010 | By Brooke Masters
It is not often that a book on the financial crisis makes you want to get a big bowl of popcorn. But Vicky Ward's page-turning yarn about Lehman Bros., the failed investment bank, is the closest thing to a bodice-ripper that the 2008 meltdown is likely to produce. Ward, a contributing editor at Vanity Fair magazine, backs up from Lehman's tragic collapse to take a look at nearly three decades of backstabbing and greed. Her book is "The Devil's Casino: Friendship, Betrayal, and the High Stakes Games Played Inside Lehman Brothers," published by Wiley.
BUSINESS
April 18, 2000 | Reuters
Lehman Bros. Holdings Inc. said David Goldfarb will replace John Cecil as chief financial officer. Goldfarb, who has served the company for six years, most recently as controller and CFO of the firm's broker-dealer unit Lehman Bros., will also become a member of the operating committee and report directly to Richard Fuld, chairman and chief executive, Lehman said.
BUSINESS
July 3, 2001 | Reuters
Tyco International Ltd., the maker of ADT burglar alarms and electronics, said it sold about $1.6 billion worth of manufactured housing assets to Lehman Bros. Terms of the deal were not disclosed. The portfolio sale is part of Tyco's previously announced plan to unload $4 billion to $6 billion worth of assets held by its newly acquired financing arm, CIT Group. Tyco bought CIT last month for about $9.
BUSINESS
September 20, 2013 | By Andrew Tangel
NEW YORK - For a night, it was like the good old days on Wall Street. Bankers and traders in dark suits flocked to a Times Square blues lounge to sip cocktails and catch up after work. What made this gathering different was what was on the marquee outside: "LEH Rocks On. " The LEH referred to the old stock ticker of Lehman Bros., the investment bank whose collapse five years ago this week set into motion the worst financial crisis since the Great Depression. This was a reunion of former employees, all watching the bank's former house bands jam cover songs such as the Talking Heads' hit "Burning Down the House.
BUSINESS
September 19, 2013 | By Andrew Tangel
NEW YORK - Five years after Lehman Bros.' implosion, USC wants to make sure its newly minted accountants won't help blow up the world economy. Required courses at the university's Marshall School of Business now include accounting ethics. Another new course on accounting rules aims to help future auditors keep land mines, such as toxic investments linked to subprime mortgages, from exploding. The hope is that future auditors will protect society from market meltdowns like the one in 2008, not just act as dutiful Wall Street bookkeepers.
BUSINESS
September 13, 2013 | Michael Hiltzik
There are two ways to think about how far we've come in protecting against a repeat of the financial meltdown five years ago that plunged the world into recession. You can conclude that we've pretty much eradicated the risk of another such crisis. That's the bankers' viewpoint. Here's how Morgan Stanley Chief Executive James Gorman put it in an interview with Charlie Rose earlier this month: " The probability of it happening again in our lifetime is as close to zero as I could imagine.
OPINION
April 30, 2012
Re "Lehman elite stood to get $700 million," April 27 "The numbers are shocking but consistent withthe fact that in some ways Wall Street has been run asa casino for extracting money from the real economy and using it to pay extraordinary high levels of compensation. " This quote by Lisa Donner of Americans for Financial Reform in The Times' article on Lehman Bros. aptly sums up what is wrong with Wall Street. This has been Wall Street since the repeal of the Glass-Steagall Act; it still is a gambling enterprise.
BUSINESS
April 27, 2012 | By Jim Puzzanghera
WASHINGTON -- Public companies should disclose the names of all employees who are paid more than $5 million a year to prevent the type of huge compensation packages given by Lehman Bros. in the year before the firm collapsed, California Rep. Brad Sherman said Friday. Sherman (D-Sherman Oaks), a member of the House Financial Services Committee, said he wasn't surprised that there were Lehman employees making large amounts of money. But he was surprised at how many were bringing home huge paychecks.
BUSINESS
April 27, 2012
Los Angeles Times reporters Walter Hamilton, Andrew Tangel and David Lazarus will be conducting a live video chat with readers at 10 a.m. to discuss today's front-page story on the $700 million awarded to 50 of the highest earners at Lehman Bros. months before the Wall Street bank collapsed in a history-making bankruptcy. The Times disclosed the existence of internal Lehman documents revealing that each of the top earners were pledged $8 million to $51 million in cash, stock and other compensation.
BUSINESS
November 9, 2000 | Reuters
Lehman Bros. Holdings (ticker symbol LEH) is believed to be considering a bid for rival investment bank Bear Stearns (BSC), although there is only a slim chance it will make an offer, the Financial Times said on its Web site Wednesday. Lehman is one of the few remaining standalone securities firms on Wall Street and a long-rumored merger partner, while Bear Stearns has been viewed as being open to a takeover after remaining on the sidelines during a period of rampant consolidation in the U.S.
BUSINESS
December 31, 1997 | Dow Jones News Service
Cohr Inc. has hired Lehman Bros. as its financial advisor to help determine its future and focus on enhancing shareholder value, the Chatsworth-based health-care outsourcing company said. Cohr's board has not yet determined if the company will be put up for sale or whether to pursue other courses of action. It also said it does not expect to meet analysts' expectations for fiscal third-quarter earnings, estimated at about 23 cents a share.
BUSINESS
April 27, 2012 | By Walter Hamilton, Jim Puzzanghera and Andrew Tangel, Los Angeles Times
Calls for reforming Wall Street pay packages reverberated across Washington and the financial district following the disclosure that 50 Lehman Bros. employees were awarded nearly $700 million in the year before the investment bank collapsed. Lawmakers and other experts said disclosure at major banks and other financial institutions should be beefed up significantly, in part to spotlight potential risks that employees may be taking in their pursuit of super-sized paychecks. The Times reported Friday that dozens of lesser-known traders and others at Lehman were allotted pay ranging from $8.2 million to $51.3 million in 2007, including one person who earned more than the chief executive and 42 people who were awarded at least $10 million.
BUSINESS
April 27, 2012 | By Walter Hamilton, Andrew Tangel and Stuart Pfeifer, Los Angeles Times
Less than a year before the 2008 collapse of Lehman Bros. plunged the global economy into a terrifying free fall, the Wall Street firm awarded nearly $700 million to 50 of its highest-paid employees, according to internal documents reviewed by The Times . The documents, which were among the millions of pages submitted in Lehman's bankruptcy, show the list of top earners each were pledged $8 million to $51 million in cash, stock and other compensation....
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