Lehman Brothers: A super-hot machine - THE GOOD OLD DAYS - GoFuckYourself.com

xmas13 · 10-09-2008, 03:51 PM

http://money.cnn.com/2006/04/10/news...1706/index.htm

Lehman Brothers: A super-hot machine

How CEO Dick Fuld transformed the notoriously fractious firm from Wall Street also-ran to global powerhouse.

Lehman Brothers, a 156-year-old firm that has had numerous brushes with death is now enjoying its greatest run ever. Richard S. Fuld Jr., 59, took over the notoriously fractious Lehman Brothers 13 years ago, when it was a forgotten subsidiary within the rat's nest that was Shearson/American Express. Driven partly by those who dismissed him and his firm as second- or even third-rate, Fuld transformed Lehman from Wall Street weakling to global powerhouse.

Consider this: When Lehman went public in 1994, it had only $75 million in earnings, with a paltry return on equity of 2.2%. Fast-forward to 2005, and the turnaround is breathtaking: Lehman booked $32 billion in revenues, $3.2 billion in profits, and hit 19.4% in return on equity. Over the past decade Lehman's stock is up 29% per annum on average, highest of any major securities firm and 16th best among the FORTUNE 500.

xmas13 · 10-09-2008, 03:52 PM

If it's too good to be true, it probably is...

Intrinsic · 10-09-2008, 03:53 PM

its crazy what one person can do
or was it....

_Richard_ · 10-09-2008, 03:56 PM

heard somewhere that jp morgan froze 18 million in cash of Lehman's brothers the friday before they went bankrupt

10-09-2008, 03:51 PM	#1
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	Lehman Brothers: A super-hot machine - THE GOOD OLD DAYS http://money.cnn.com/2006/04/10/news...1706/index.htm Lehman Brothers: A super-hot machine How CEO Dick Fuld transformed the notoriously fractious firm from Wall Street also-ran to global powerhouse. Lehman Brothers, a 156-year-old firm that has had numerous brushes with death is now enjoying its greatest run ever. Richard S. Fuld Jr., 59, took over the notoriously fractious Lehman Brothers 13 years ago, when it was a forgotten subsidiary within the rat's nest that was Shearson/American Express. Driven partly by those who dismissed him and his firm as second- or even third-rate, Fuld transformed Lehman from Wall Street weakling to global powerhouse. Consider this: When Lehman went public in 1994, it had only $75 million in earnings, with a paltry return on equity of 2.2%. Fast-forward to 2005, and the turnaround is breathtaking: Lehman booked $32 billion in revenues, $3.2 billion in profits, and hit 19.4% in return on equity. Over the past decade Lehman's stock is up 29% per annum on average, highest of any major securities firm and 16th best among the FORTUNE 500. __________________ ICQ 557504926

10-09-2008, 03:52 PM	#2
xmas13 Confirmed User Join Date: Dec 2004 Location: GFY Posts: 5,176	If it's too good to be true, it probably is... __________________ ICQ 557504926

10-09-2008, 03:53 PM	#3
Intrinsic Confirmed User Industry Role: Join Date: Jun 2008 Posts: 1,589	its crazy what one person can do or was it....

10-09-2008, 03:56 PM	#4
_Richard_ Too lazy to set a custom title Industry Role: Join Date: Oct 2006 Location: Earth Posts: 30,989	heard somewhere that jp morgan froze 18 million in cash of Lehman's brothers the friday before they went bankrupt