LEHMAN and 9/11/2001: You cannot make these connections up-WAKE UP PEOPLE!copy the cache quickly, the original site is defunct:
http://209.85.165.104/search?q=cache:pH6WIP29_tMJ:www.peti.pl/wiki/Lehman_BrothersOn September 11, 2001 Lehman Brothers occupied three floors of 1 WTC where one employee was killed. Its global headquarters in Three World Financial Center were severely damaged and rendered unusable by falling debris, displacing over 6,500 employees. The bank recovered quickly and rebuilt its presence. Trading operations moved across the Hudson River to its Jersey City facilities, where an impromptu trading floor was built and brought online less than forty-eight hours after the attacks. When stock markets reopened on September 17, 2001, Lehman Brothers' sales and trading capabilities were restored.
In the ensuing months, Lehman Brothers fanned out its operations across the New York City metropolitan area in over forty temporary locations. Notably, the investment banking division converted the first floor lounges, restaurants, and all 665 guestrooms of the Sheraton Manhattan Hotel into office space. The bank also experimented with flextime (to share office space) and telecommuting via virtual private networking. In October of 2001, Lehman Brothers purchased a just-built 32-story facility from rival Morgan Stanley for a reported sum of $700 million. Morgan Stanley's world headquarters was located two blocks away at 1585 Broadway, and in the wake of the attacks, was re-evaluating its office plans which would have put over 10,000 employees in the Times Square area. Lehman Brothers began moving into the new facility in January and concluded in March 2002, a move that significantly boosted morale throughout the firm.
Lehman Brothers was criticized for not moving back to its former headquarters in lower Manhattan. Following the attacks, only Deutsche Bank, Goldman Sachs, and Merrill Lynch remained in the area. The firm, however, points to the fact that it was committed to remaining in New York City, that the new headquarters presented an ideal circumstance where Lehman Brothers was desperate to buy and Morgan Stanley was desperate to sell, that when the new building was purchased, the structural integrity of Three World Financial Center had not yet been given a clean bill of health, and that in any case, the company could not have waited until May 2002 for repairs to Three World Financial Center to conclude.
After the attacks, Lehman Brothers' management placed increased emphasis on business continuity planning. Unlike its rivals, Lehman Brothers was unusually concentrated for a bulge bracket investment bank. For example, Morgan Stanley maintains a 750,000-square foot trading and banking facility in Westchester County, NY. The trading floor of UBS is located in Stamford, Connecticut. Merrill Lynch's asset management division is located in Plainsboro Township, New Jersey. Aside from its headquarters in Three World Financial Center, Lehman Brothers maintained operations and backoffice facilities in Jersey City, space that the firm considered leaving prior to 9/11. The space was not only retained, but expanded, including the construction of backup trading facility. In addition, telecommuting technology first rolled out in the days following the attacks to allow employees to work from home has been expanded and enhanced for general use throughout the firm. [1]
In 2003, Lehman Brothers was one of ten firms which simultaneously entered into a settlement with the U.S. Securities and Exchange Commission (SEC), the Office of the New York State Attorney General and various other securities regulators, regarding undue influence over the each firms research analysts by their investment banking divisions. Specifically, regulators alleged that the firms had: improperly associated analyst compensation with the firms' investment banking revenues; and, promised favorable, market-moving, research coverage, in exchange for underwriting opportunities. The settlement, known as the “global settlement”, provided for total financial penalties of $1.4 billion, including $80 million against Lehman Brothers, and structural reforms, including, a complete separation of investment banking departments from research departments, no analyst compensation, directly or indirectly, from investment banking revenues, and the provision of free, independent, third-party, research to the firms' clients.
Richard S. Fuld, Jr., Chairman and Chief Executive OfficerMichael L. Ainslie
John F. Akers
Roger S. Berlind
Thomas Cruikshank
Marsha Johnson Evans
Sir Christopher Gent
Roland A. Hernandez
Dr. Henry Kaufman
John D. Macomber
Richard S. Fuld, Jr., Chairman and Chief Executive Officer
Jasjit S. Bhattal, Chief Executive Officer, Asia
Erin Callan, Chief Financial Officer
Scott J. Freidheim, Co-Chief Administrative Officer
David Goldfarb, Global Head of Strategic Partnerships, Principal Investing and Risk
Joseph M. Gregory, President and Chief Operating Officer
Jeremy M. Isaacs, Chief Executive Officer, Europe & Asia
Theodore P. Janulis, Global Head of Mortgage Capital
Stephen M. Lessing, Head of Client Relationship Management
Ian T. Lowitt, Co-Chief Administrative Officer
Herbert H. McDade III, Global Head of Equities
Hugh E. McGee III, Global Head of Investment Banking
Roger B. Nagioff, Global Head of Fixed Income
Thomas A. Russo, Vice Chairman/Chief Legal Officer
George H. Walker, IV, Global Head of Investment ManagementAt 134 years old, the 72 partners of Lehman Brothers formed Wall Street's oldest partnership when it was acquired by American Express in 1984. Listed below, is a partial list of the firm's partners.Henry Lehman (1850-1855)
Emanuel Lehman (1850-1907)
Mayer Lehman (1850-1897)
Meyer H. Lehman (1880-1904)
Sigmund M. Lehman (1882-1908)
Philip Lehman (1885-1947)
Arthur Lehman (1901-1936)
Harold M. Lehman (1914-1933)
Thomas Hitchcock, Jr. (1937-1944)
Herbert H. Lehman (1908-1928)
Edward J. Bermingham (1936-1939)
Frederich L. Schuster (1943-1948)
Arthur H. Bunker (1945-1949)
Robert Lehman (1921-1969)
Allan S. Lehman (1908-?)
John M. Hancock** (1924-?) Monroe C. Gutman (1927-?)
Paul Mazur (1927-?)
William J. Hammerslough (1930-?)
John D. Hertz (1934-1961)
Joseph A. Thomas (1937-?)
John R. Fell (1940-?)
William S. Glazier (1940-?)
Frederick L. Ehrman (1941-?)
Harold J. Szold (1941-?)
Philip Isles (1941-?)
Paul E. Manheim (1944-?)
Francis A. Callery (1950-?)
Herman H. Kahn (1950-?)
Morris Natelson (1950-1972)
Jerome S. Katzin (1977-1984)
Harvey M. Krueger (1977-1984)
** First non-family member to be admitted to the partnership.
3 World Financial Center17 Court Square, Montgomery, Alabama (1847)*
119 Liberty Street, New York, NY (1858)
176 Fulton Street, New York, NY (1865-1866?)
133-35 Pearl Street, New York, NY (1867)
40 Exchange Place, New York, NY (1876)
16 William Street, New York, NY (1892)
One William Street, New York, NY (1928) **
55 Water Street, New York, NY (1980) ***
3 World Financial Center
745 Seventh Avenue, New York, NY (2002)
* Henry Lehman established his first store location on Commerce Street, in Montgomery, in 1845. In 1848, one year after Emanuel's arrival, the brothers moved "H. Lehman & Bro." to 17 Court Square, where it remained when Mayer arrived in 1850, forming "Lehman Brothers".
** Designated as a landmark by the New York City Landmarks Preservation Committee in 1996.
*** Sales and trading personnel had been in this location since 1977, when they were joined by the firm's investment bankers and brokers.
Boris Adlam - venture capitalist
Joaquin Avila - managing director of the Carlyle Group
Louis Bacon - hedge fund manager
Pete Dawkins - Citigroup executive
Steven Gluckstern - investor and former co-owner of the New York Islanders [1]
F.Warren Hellman - Chairman and co-founder of Hellman and Friedman
John D. Hertz - founder of The Hertz Corporation
Ejovi Nuwere - entrepreneur
Jeffrey Peterson - entrepreneur
Peter Schiff - financial analyst
Stephen A. Schwarzman, Chief Executive Officer and co-founder of the Blackstone GroupDavid Swensen - chief investment officer of Yale UniversityJeffrey Vanderbeek - owner of the New Jersey Devils hockey team
Roger Altman - former Deputy Treasury Secretary under Bill Clinton, founder of Evercore Partners
John Ellis "Jeb" Bush - 43rd Governor of Florida and brother of U.S. President, George Walker BushJeffrey Garten - former Undersecretary of Commerce, former Dean of the Yale School of Management, economist
Ernest Green - member of the Little Rock Nine, Assistant Secretary of Labor (1977-1981)
Emil Henry - former Assistant Secretary of the Treasury for Financial Institutions
Richard Holbrooke - U.S. Ambassador to the United Nations (1999-2001)Bruce Jackson - president of the U.S. Committee in NATO
James A. Johnson - U.S. Democratic Party political figure
John Kasich - Member of the U.S. House of Representatives (1983-2001)
Herbert Lehman - Governor, State of New York (1933-1942), Member of the United States Senate (1949-1957)
Edward Morse - Deputy Assistant Secretary of State for International Energy Policy (1979-81)
Peter George Peterson - U.S. Secretary of Commerce (1972-73), co-founder, the Blackstone Group
Steve Preston - Administrator of the U.S. Small Business Administration
Felix G. Rohatyn - U.S. Ambassador to France (1997-2000)
James R. Schlesinger - Director of the CIA (1973), U.S. Secretary of Defence (1973-75), U.S. Secretary of Energy (1977-79)Kathleen Kennedy Townsend - former Lieutenant Governor of MarylandDaniel Doctoroff - Former Deputy Mayor for Economic Development and Rebuilding, NY; current President of Bloomberg LPAndrew Gowers - editor of the Financial TimesJack H. Jacobs - Medal of Honor recipient
Hadassah Lieberman - wife of U.S. Senator Joe LiebermanKenneth Lipper - hedge fund manager, deputy mayor of New York City, novelist, screenwriter, and academic
Andrew Morton - academic, currently head of European Fixed Income Division, cf Heath-Jarrow-Morton framework
Robert L. "Nob" Rauch - ultimate frisbee administrator
Theodore Roosevelt IV - Great Grandson of Theodore Roosevelt, U.S President 1901-1909
Theodore Roosevelt V - Great, Great, Grandson of Theodore Roosevelt, U.S. President 1901-1909
George Herbert Walker IV - former partner of Goldman Sachs, son of former U.S Ambassador to Hungary, George Herbert Walker III, second cousin of George Walker BushLehman Aggregate Bond Index
Lehman Brothers - official website
Google Finance - Lehman Brothers
Yahoo Finance - Lehman Brothers
Lehman Brothers - History
Citigroup's ancestor companies 1812 - 2000
^
http://www.cbc.ca/sports/story/2000/04/26/wang000426.htmlSchack, Justin. (May 2005). "Restoring the House of Lehman". Institutional Investor, p. 24-32.
Auletta, Ken. Greed and Glory on Wall Street: The Fall of the House of Lehman. Random House, 1985
Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997
Lehman Brothers. A Centennial - Lehman Brothers 1850 - 1950. Spiral Press, 1950
Wechsberg, Joseph. The Merchant Bankers. Pocket Books, 1966