Lehman Brothers: No Plan, But Thinking About One

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Charlie Gasparino reports that over at Lehman Brothers...nothing much is happening. But! There is heresay and speculation that something might happen, namely that LEH will sell off the family jewels, a dead giveaway that other harebrained schemes to come up with the necessary scratch have failed. As for the 18 percent drop, Felix Salmon reports that no one has a clue "[but one thing] is clear: it's sinking." Think he's wrong? E-mail us your theory and we'll offer it to the crowd. As you know, we'll run practically anything.
Lehman Is Moving Closer to Selling Neuberger Unit [CNBC]
Lehman's Volatility [Portfolio]

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Everybody Give It Up For Lehman Brothers!

"We are proud to announce Lehman's exit from chapter 11 and entrance into the final stage of this process -- distributions to creditors. Our objective remains to provide the best results possible for creditors -- by continuing to strategically position assets to produce strong values, to pursue the resolution of disputed claims and other matters in litigation, and to manage expenses in line with the asset disposition process," said John Suckow, who is managing director with bankruptcy adviser Alvarez & Marsal and Lehman's president and COO. Suckow also thanked Lehman employees for working "diligently" since the bank's collapse in September 2008 to reach the milestone. [NYP]