Next week Lehman Brothers is hosting a Financial Services conference. LEH is also going to present. The irony: LEH’s topic of discussion-- “More Efficient Hedging Strategies for Financial Services Investors”
One PowerPoint slide - “Short LEH”
As an employee, I find it shameful that LEH is going to talk for one hour on risk management strategies when the company screwed up big time in this area – the rest is history. Nevertheless, I will subject myself to this atrocious event. Curious as to what “new strategies” I will get to know. Round four of lay-offs starts on Monday–another anxious weekend.
Sorry to hear that bro. . . hang in there.
sid3699 Wrote: ------------------------------------------------------- > As an employee, I find it shameful that LEH is > going to talk for one hour on risk management > strategies when the company screwed up big time in > this area – the rest is history. Nevertheless, I > will subject myself to this atrocious event. > Curious as to what “new strategies” I will get to > know. > > Round four of lay-offs starts on Monday–another > anxious weekend. I guess LEH are the best guys to preach on this now ! Lesson learnt,after write-down in bn $$$
RDX Wrote: > I guess LEH are the best guys to preach on this > now ! > Lesson learnt,after write-down in bn $$$ My friend am sure you have heard of the saying, “Fool me once, shame on you. Fool me twice, shame on me.”-- Although I prefer Dubya’s version. LEH is on the brink of loosing whatever little credibility it has. The day that is lost, people will stop doing business with LEH and then its Bear Sterns fiasco, rejuvinated. “Lesson learnt,after write-down in bn $$$”-- not quite. LEH still has more than $40B in crappy investments on its books, which if they go to sell would fetch a few cents on the dollar. No one is willing to buy them. And now they came up with a brilliant plan of unloading these crappy assets onto some NEWCO, which again will be funded by, guess who, the current LEH equity holders and new investors (atleast that’s what LEH hopes)-- a shenanigan, which am sure can be easily cracked. If I was not an employee of LEH, I would go in this conference meeting and shout, “Liar Liar, Pants on Fire.”
Hmm… I’m not a LEH employee. I’ll do it if you buy drinks afterwards…
Its at the Hilton on 6th and 55th. LEH presents on Tuesday and Wednesday. Shout out load Joey and we"ll get drunk later on.
sid3699 - After some deep thinking, I want that package on monday. Bring it on. I’m done with these clowns. Our CEO is named Dick, but he’s really an a$$hole. F them. They’re a bunch of crooks. I’ve got a reservation to head to Singapore on the 17th. I ain’t comin back. Let’s drink next week and celebrate.
sid3699 Wrote: ------------------------------------------------------- > Its at the Hilton on 6th and 55th. LEH presents on > Tuesday and Wednesday. > > Shout out load Joey and we"ll get drunk later on. Done.
So its pimp, joey and me on the drunk wagon, so far. Others are free to join in. The specifics of LEH presentation: Tuesday: 10:30 am–REGENT PARLOR - MADISON SUITE at Hilton Hotel Wednesday: 10:30 am–MURRAY HILL SUITE – GIBSON SUITE at Hilton Hotel Hecklers are most welcome at this meeting. Special prize for the best heckler.
A couple of months ago, I heard that during an analyst presentation, someone stood up and said “Liar liar, pants on fire” to Erin Callan as she was discussing the fudged numbers. That was classic. And speaking of Callan, I’m sure she’s pleased with where she ended up. She was clearly made into a scapegoat just because Dick wanted to protect his gay comrades at LEH so that he could continue to receive services from them. Dick must go. Enough is enough. Dick Fuld - if you are surfing the forum right now, I’d like you to know that you’re the biggest a-hole on wall street right now and the only reason you haven’t been sacked yet is because the board is comprised of hand-picked cronies who are willing to bendover for you.
I think it was either Einhorn or someone from his team who told that to Erin. For all we know, Erin (who is now working for a hedge fund with CSFB) and Einhorn might be thinking of ways to shut down LEH for good. I think the damage level is so much for LEH now that Dick leaving the firm will have little effect. The founders of LEH must be turning in their graves-- 150 plus years of value creation destroyed in one year.