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Lehman Posts Bankruptcy Status Update
Submitted by Tyler Durden on 01/14/2009 20:18 -0400
Once the 4th largest investment bank in the U.S., and the house that Dick Fuld built, Lehman Brothers' today posted an update of its reorganization status in an 8K with the SEC. In a very interesting analysis by Alvarez & Marsal, several things become obvious.
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Lehman Carcass: Feeding Ground for 513 Lawyers
Submitted by Tyler Durden on 01/15/2009 18:59 -0400A notice sent out yesterday to all known and unknown lawyers involved in the "biggest bankruptcy of all time" can be found here.
Lawyers A Thru C, for full list click above
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Icahn Making Sure Rust Really Sticks to Steel
Submitted by Tyler Durden on 01/16/2009 03:10 -0400
As previously reported, Steel Partners is trying to stick it to investors by unilaterally deciding to do a reverse merger something or another, ultimately to prevent investors from redeeming in a pseudo-liquid public vehicle called WebFinancial
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Citi Lives the Telecom Dream as Nortel is About to Wake
Submitted by Tyler Durden on 01/10/2009 01:21 -0400
It is good to see that even as the good men leaving the yellow van carrying a straight jacket (specifically outfitted with a bro/manzier for obvious purposes) are climbing up the arduous 59 stor»
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Dead Men Walking in South Beach
Submitted by Tyler Durden on 01/12/2009 17:54 -0400
In what is the greatest annual boondoggle in the hedge fund community, the JP Morgan South Beach Conference, this year held February 2-4 in the Loews Hotel, one should be able to spot some very good leading trends of the credit markets for this year.
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Mad-Cave Blueprints Procured
Submitted by Tyler Durden on 01/13/2009 02:16 -0400Well, it isn't apartment 14A/B in 740 Park, but Bernie's $7 million Guantanamo will make most studio and one bedroom NY dwellers green with unponziated envy.
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Friday Night Rumor: MGM Selling Mirage to Penn Natl
Submitted by Tyler Durden on 01/10/2009 02:23 -0400
After losing his shirt, bifocals, and the backup tire of his Jeep Cherokee by assuming that Ford and GM are actually competitive in the global car market, Kirk Kerkorian is allegedly selling one of his prize jewels on the LV strip: the MGM Mirage.
Dead Men Walking in South Beach
Submitted by Tyler Durden on 01/12/2009 17:54 -0400
In what is the greatest annual boondoggle in the hedge fund community, the JP Morgan South Beach Conference, this year held February 2-4 in the Loews Hotel, one should be able to spot some very good leading trends of the credit markets for this year.
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In Other News: People Still Throwing Away Millions
Submitted by Tyler Durden on 01/13/2009 02:50 -0400
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A Good Start...
Submitted by Tyler Durden on 01/10/2009 18:10 -0400
...Is 10,000 lawyers at the bottom of the ocean...
Bernie Forced To Find More Creative Ways to Launder Assets
Submitted by Tyler Durden on 01/12/2009 18:10 -0400BN 12:09 *BERNARD MADOFF STAYS FREE, MAGISTRATE JUDGE RULES
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*MADOFF IS CHARGED WITH SECURITIES FRAUD IN $50 BLN PONZI SCHEME
*MADOFF HAS BEEN UNDER HOUSE ARREST, GUARD, ELECTRONIC MONITOR
*MADOFF'S ATTORNEY SAID TRANSFER WAS AN `INNOCENT' MISTAKE'
*FEDERAL PROSECUTORS SAID BERNARD MADOFF IGNORED COURT RULING
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In Other News: People Still Throwing Away Millions
Submitted by Tyler Durden on 01/13/2009 02:50 -0400
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Timmmmmmmaaaayyyyyy.... reincarnated
Submitted by Tyler Durden on 01/10/2009 19:40 -0400
Yep folks, the man, the myth, the my-mom-does-my laundry womanizer may be gone (only temporarily - you can't get rid of Tim Sykes... something about weeds or cockroaches), but his spirit lives on. Just click here: http://www.greenwichtime.com/ci_11421481
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S&P Pretending Like Its Opinion Still Matters
Submitted by Tyler Durden on 01/12/2009 18:45 -0400
One can say many things about the ratings agencies, one could be bribed and even say one good thing, but recently S&P has decided to get really proactive to have some ammo ahead of the inevitable congressional hearings (Moody's has Buffet in its back pocket so smooth sailing over there).
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UBS in Serious Need of Editorializing
Submitted by Tyler Durden on 01/13/2009 04:26 -0400
In what might be a blatant example of investment banking schizophrenia, or merely a good-ole "talking up the book", two of UBS key "strategists", Larry Hathaway and David Bianco, in the span of 1 business day, manage to come out with two essentially contradictory reports.
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