“Lehman Brothers, which had been anxious to show it could weather the credit crisis that contributed to the firm’s $3.9 billion third-quarter loss, said Wednesday that it would sell a majority stake in its investment-management division, slash its dividend and spin off about $30 billion of real estate assets.”
The money line. They thought they could hang on long enough to get bailed out, $3.9 billion loss? who beside the government is going to buy a majority share?, slash its dividend after losing $3.9 billion? What dividend? “spin off”? sounds like a fire sale to the feds.
They’re gonna have to rent Madison Square Garden to hold all the lawyers and accountants involved....