Sunday, March 22, 2009

Lehman's back!

Looks like Lehman Brothers is staging a comeback, but they still have some issues with asset valuation. They negotiated the return of thousands of Lehman marketing toys not excluding stress-balls and paperweights. When the company went to the ground, this junk was mistakenly also transferred to Barclays. Lehman is paying Barclays $34k for storage and plans to sell the stuff to repay its creditors, except Lehman still owes over $200BILLION in unsecured debt. Their ex-brokers must be ready to get back to work and make a killing on this stuff! Beware of junk bubble!

lost and found:
1,630 green canvas duffle bags with Lehman ribbon
353 green compact golf umbrellas
75 Waterford Marquis Treviso crystal clocks
682 white Lehman coffee mugs
130 Swiss Army pens
1 English beechwood-lined sterling silver box from 1902
200 Lehman conference pens
12 pairs of Links of London cufflinks
24 Screwpull wine openers inscribed “LB"
24 Titleist PRO VI golf balls inscribed “LB”
30 girl Teddy Bears
18 large, ivory womens’ F&G stretch snap shirts
1 Tiffany shooting star.

source: bloomberg

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