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.

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

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

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