Lehman posts $4 billion quarterly loss, plans sales

NEW YORK (Reuters) – Lehman Brothers Holdings Inc plans to sell a majority stake in its asset management unit and spin off commercial real estate holdings, hoping to restore investor confidence and ensure its survival after reporting a record quarterly loss of about $4 billion.

Shares failed to rebound on Wednesday morning after plunging 45 percent a day earlier, reflecting Wall Street disappointment that Lehman did not announce more concrete actions.

Read more

Lehman sinks as much as 40 percent on capital worry

NEW YORK (Reuters) – Lehman Brothers Holdings Inc shares sank as much as 40 percent Tuesday on concern that talks on a possible investment from Korea Development Bank had broken down and that the fourth-largest Wall Street investment bank would be unable to raise needed capital.

Read more

Lehman May Shift $32 Billion of Mortgage Assets to `Bad Bank’

Sept. 4 (Bloomberg) — Lehman Brothers Holdings Inc. may shift about $32 billion of commercial mortgages and real estate to a new company that will be spun off in a move similar to the good-bank-bad-bank model used in the 1980s banking crisis, two people briefed on the discussions said.

Read more