W Sept. 10: Lehman says it lost $3.9 billion during its fiscal third quarter and plans a number of moves to shore up its balance sheet. The announcement, coming a day after Lehman shares lost 45 percent, is an attempt to assuage market worries. CEO Richard Fuld says the firm will consider all "strategic alternatives."
Th Sept. 11: Lehman shares skid another 42 percent as investors reject the plan, forcing Lehman executives to scour Wall Street for a financial lifeline.
F Sept. 12: Late Friday night Wall Street executives and top U.S. financial officials convene at the New York Fed to discuss how resolve Lehman's situation before it shakes investor confidence in the U.S. banking system.
M Sept. 15: Lehman Brothers Holdings Inc. files for Chapter 11 bankruptcy.
T Sept. 16: British bank Barclay’s purchases Lehman Brothers’ IBD Division for $1.7 billion.
This all came as such as a surprise! But we'll see what new adventure this turn of events will bring to our lives. We should find out by Thanksgiving...stay tuned!
4 comments:
Wow! You guys made a ton of posts! Britt, did you have a lot of time today or what? Sorry to hear about E's company. Hope that all works out for you guys. Let us know. Next time spread the posts out a little :)
o e now that you have free time. you sould look into building RC airplanesf. build time 4-10 hours, fight time 30-40 seconds(untill you get good). destracting an entor peewee socor team- pricless
wow-what a great addition and great to see all yoour adventures-what a rich life you two are having. we are happy to be a part of it. Love you guys-mom and dad Erickson
No kidding, you made up for the 6 months of not posting! That is a bummer about E's company, but there is an adventure in every life experience. Hoss started the whole RC airplane thing and now that is all the boys in our family talk about! They are pretty cool when they finally get them up in the air though!
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