Wednesday, September 10, 2008

Lehman to Sell Assets, Sees Loss

This is known as a last-gasp effort to survive. I say stick a fork in it.

Lehman Brothers plans to spin off to shareholders the "vast majority" of its commercial real-estate assets, sell about a 55% interest in its investment-management division and slash its dividend 93%. The firm also predicted a fiscal third-quarter loss of $3.9 billion.

So, what's left?

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