Wednesday, June 4, 2008
Lots of news about Lehman Brothers' troubles in the past few days. Its stock price continues to decline, and it is down 53% since the start of the year. The company is expected to post one of its largest quarterly losses in its history, and it is reported that it is looking to raise an additional $4 billion in capital from overseas investors. In addition, a hedge fund manager who is shorting the stock is very publicly questioning its asset valuations. To combat the price drop, Lehman reportedly went into the market to buy back its shares. WSJ, Lehman Is Seeking Overseas Capital; NYTimes, Lehman Battles an Insurgent Investor.