Howlingwolf
09-10-2008, 10:22 AM
http://www.kcci.com/news/17436382/detail.html
Lehman Bros. Loses $3.9B, Plans Asset Shift
Bank To Sell Majority Stake In Investment Management Unit
POSTED: 7:21 am CDT September 10, 2008
UPDATED: 7:47 am CDT September 10, 2008
NEW YORK -- Lehman Brothers said it will sell a majority stake in its prized investment management business and spin off its commercial real estate operations.
The dramatic effort is aimed at helping it survive the credit crunch.
Shares in the nation's fourth-largest investment bank have fallen more than 80 percent this year as investors lost confidence amid mounting losses.
Lehman Bros. Loses $3.9B, Plans Asset Shift
Bank To Sell Majority Stake In Investment Management Unit
POSTED: 7:21 am CDT September 10, 2008
UPDATED: 7:47 am CDT September 10, 2008
NEW YORK -- Lehman Brothers said it will sell a majority stake in its prized investment management business and spin off its commercial real estate operations.
The dramatic effort is aimed at helping it survive the credit crunch.
Shares in the nation's fourth-largest investment bank have fallen more than 80 percent this year as investors lost confidence amid mounting losses.