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Lehman Brothers Holdings Inc

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BUSINESS
June 23, 1999 | Times Wire Services
Lehman Bros. Holdings Inc. posted an unexpected increase in profit for the second quarter as it benefited from strong stock-trading income, fees from advising companies on mergers and a shrinking dependence on bonds. The nation's fourth-largest securities firm said net income grew 2% to $330 million from a year ago. Earnings per share were $2.09, down from $2.12, reflecting an increase in the number of shares outstanding.
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BUSINESS
June 23, 1999 | Times Wire Services
Lehman Bros. Holdings Inc. posted an unexpected increase in profit for the second quarter as it benefited from strong stock-trading income, fees from advising companies on mergers and a shrinking dependence on bonds. The nation's fourth-largest securities firm said net income grew 2% to $330 million from a year ago. Earnings per share were $2.09, down from $2.12, reflecting an increase in the number of shares outstanding.
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BUSINESS
June 19, 1998 | Bloomberg News
Morgan Stanley, Dean Witter & Co. and Lehman Bros. Holdings Inc. reported second-quarter earnings that trounced analysts' forecasts, fueled by a surge in corporate takeovers and sales of stocks and bonds. Morgan Stanley, the nation's second-biggest securities firm, said earnings rose 45% to $854 million, or $1.37 a share, from a year ago. Analysts had expected $1.18 a share. The company's return on equity rose to 25%, from 18.3% a year ago, and net revenue advanced 31% to $4.6 billion.
BUSINESS
June 19, 1998 | Bloomberg News
Morgan Stanley, Dean Witter & Co. and Lehman Bros. Holdings Inc. reported second-quarter earnings that trounced analysts' forecasts, fueled by a surge in corporate takeovers and sales of stocks and bonds. Morgan Stanley, the nation's second-biggest securities firm, said earnings rose 45% to $854 million, or $1.37 a share, from a year ago. Analysts had expected $1.18 a share. The company's return on equity rose to 25%, from 18.3% a year ago, and net revenue advanced 31% to $4.6 billion.
BUSINESS
December 24, 2004 | From Bloomberg News
Lehman Brothers Holdings Inc. bought six hotels and a stake in the Summerfield Suites brand from Wyndham International Inc. for $105 million. Lehman and Wyndham will start a joint venture to manage Summerfield's 24 extended-stay properties, to develop new accommodations and to sell new franchises, according to Dallas-based Wyndham. Lehman made the purchase in partnership with Gencom Group, a private Miami-based hospitality investment firm. Lehman shares fell 30 cents to $86.
ENTERTAINMENT
November 14, 2008 | bloomberg news
Lehman Brothers Holdings Inc. said it planned to sell about $8 million of artworks warehoused in New York and Paris to help pay creditors. Lehman, which filed the biggest U.S. bankruptcy Sept. 15 with liabilities of $613 billion, said in a court filing it had a "desire to monetize the art collection through sales, for the benefit of" creditors. It asked the court to allow it to pay $20,000 in overdue bills to art-handlers who would move artworks to and from the warehouses and display them to prospective purchasers.
BUSINESS
September 26, 2007 | From Times Wire Services
China's stock rally this year has given shares of brokerage Citic Securities Co. a market value of $39.4 billion, surpassing all but three of the firm's counterparts on Wall Street. Citic's stock market capitalization, which has more than tripled this year, now exceeds those of Lehman Brothers Holdings Inc., Bear Stearns Cos. and Charles Schwab Corp. The market value of Haitong Securities Co., China's No. 2 brokerage, has leaped 669%, eclipsing Bear Stearns. The seven largest U.S.
BUSINESS
May 8, 1999 | Times Wire Services
Hoover's Inc., publisher of an online guide featuring data and profiles on more than 14,000 companies, said it plans an initial public offering worth up to $48.9 million. The Austin-based company said it had not determined the number of shares to be issued. In its filing with the Securities and Exchange Commission, Hoover's said it would use the money raised from the offering to expand marketing, including a $10-million advertising campaign.
NEWS
October 20, 1987 | From Reuters
Wall Street's top securities houses, taking a cue from a $1-billion offer by Goldman Sachs & Co. to help ailing mutual funds, said today they have the financial muscle to handle the stock market's massive decline. Denying rumors of liquidity problems and shrugging off the closure of a small brokerage, E. F. Hutton Group Inc., Goldman Sachs, Shearson Lehman Brothers Holdings Inc., and Merrill Lynch & Co. Inc.
CALIFORNIA | LOCAL
June 8, 2006 | From Times Staff and Wire Reports
Frank C. Lanza, 74, chairman, chief executive and co-founder of defense contractor L-3 Communications Holdings Inc., died unexpectedly Tuesday night while recovering from surgery he had two months ago, the company said. He had visited doctors Tuesday and was told his progress after esophageal surgery related to acid reflux disease was satisfactory.
BUSINESS
December 7, 2006 | From Bloomberg News
Lehman Brothers Holdings Inc., the fourth-largest U.S. securities firm, said it would pay Chairman and Chief Executive Richard Fuld an extra $188 million over the next 10 years. Fuld was awarded grants a decade ago for about 2.5 million shares, which would have been payable if New York-based Lehman was sold. Instead, the board plans to give Fuld 10 annual installments of 246,395 shares starting next year provided that he stays at the company, according to a regulatory filing dated Dec. 1.
BUSINESS
April 2, 2014 | By Andrew Khouri
Arizona home builder Taylor Morrison Home Corp. has agreed to purchase a swath of coastal Orange County land, kick starting a long-stalled development that fell victim to the recession. The builder, in a deal announced late Tuesday, said it would buy nearly 200 acres in San Clemente and start construction next year. The 308-home Marblehead development has been in the works for decades. It faced stiff opposition from environmental groups, which sought to save one of the last open spaces along the Southern California coast.
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