Today's Headlines

Rough Road Continues for Lehman [Forbes]

Freaking Out About Lehman [Wall Street Journal]

Time Isn't Lehman's Friend [Business Week]

At Noon: Lehman Tanks [Globe and Mail]

Lehman in Free Fall Again [Fortune / CNN Money.com]

It is better to have loved and lost, we are supposed to believe, than never to have loved at all. Tell that to Lehman. The securities firm has been on a financial yo-yo for months as potential buyers peer in to evaluate an investment, then back away when they get to know the bank a little better. For Lehman, the disappearance of some formerly eager suitors is one more source of pressure.

And the rejections keep piling up for Lehman. Talks about a capital infusion from Korea Development Bank have ended. Lehman, the fourth largest investment company in the United States, “refuses to take what it believes are fire-sale prices for its key assets,” said Roberta Zimmerman of Altar, Wise, Owl, and Light. "Shareholders are depressed."

How do the analysts see it, Charlie? “Analysts concur that LEH is basically in a trading range unless something truly catastrophic happens,” Charlie Gehringer of 2BTV reported outside Lehman headquarters. "It could either work out exceptionally well for investors or very badly."

With each passing day, Lehman’s hunt for a white knight is looking more desperate.

“My guess is Lehman is stuck being Lehman, rather than a domino [the Fed and Treasury] have to prevent from falling,” says George Feiger, president of Contango Capital Advisors, the wealth management arm of Zions Bancorporation.

Lehman declined to comment. “I’d believe no comment would be the best strategy for us,” he told reporters at a venture capital forum, Reuters reported.

Comments

[Noah Burke]

Funny. Thanks.