Lehman Brothers loses $3.9bn in third quarter | G.O.O.D

Mountain House Freeze-Dried Food « OPEC Takes Steps to Cut Oil Production Large Hadron Collider fired up in ‘God particle’ hunt » Sep 10 2008 Lehman Brothers loses $3.9bn in third quarter Posted by: Joshuah in Economics, tags: Lehman Brothers Source: FT.com Lehman Brothers on Wednesday confirmed plans to spin off the majority of its commercial real estate assets and sell a majority stake in its asset management unit as the beleaguered Wall Street bank reported a $3.9bn net loss for the third quarter of the year. Lehman, which has seen its share price plummet in recent days amid growing concerns about the bank’s financial position, did not provide any concrete updates about its efforts to attract outside investors. However, the bank said it remained “committed to examining all strategic alternatives to maximize shareholder value.” Its share price in New York, which plunged 45 per cent the day before, opened 14 per cent higher at $8.94 on Wednesday following the news. The Dow Jones industrial average was up 0.23 per cent at 11,256.38. European markets remained lower, with the Euronext 300 banking sector index down 1.8 per cent. Full Story… Related Blogs Related Blogs on Lehman Brothers The Next In Line for a Bailout Lehman Brothers next to be bailed out? lehman earnings After $4 Billion Third-Quarter Loss, Lehman Plans Asset Sell Off Why HSBC is interested in Lehman Brothers This entry was posted on Wednesday, September 10th, 2008 at 11:03 am and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. Leave a Reply You must be logged in to post a comment. Login »
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Creative Commons Attribution 3.0 United States

Creative Commons Attribution 3.0 United States