Thursday, September 11, 2008

Lehman Tops Best Sellers List

I haven't even followed this story, but apparently it is of some interest to bloomberg users. I check the 'most read' page every day, as it's a very reliable contrary indicator, but I've never seen six of the top stories on the page be on the same subject. I cut and pasted the text from the page for posterity.

Most Read

Lehman Shares Plummet After Analysts Cite Rating Risk (Update1) Lehman Brothers Holdings Inc., this year's worst-performer on the Standard & Poor's 500 Index, fell as much as 46 percent after four analysts said they cut their recommendations because the firm's credit rating may be lowered.

Lehman Said to Be in Talks With Potential Buyers as Shares Drop Lehman Brothers Holdings Inc. entered into talks with potential buyers of the securities firm after Moody's Investors Service said the company must find a ``stronger financial partner'' and the shares plummeted.

Lehman's Survival Hinges on Reluctant Sale of Unit (Update2) Richard Fuld's plan to keep Lehman Brothers Holdings Inc. afloat depends on whether the chief executive officer can sell a business that he'd rather keep to a buyer who may not be able to pay for it.

Joyous Loathing at Lehman's Collapse: Michael Lewis (Update1) To see the mental state of financial markets at the moment you need only to sit at a computer with an Internet connection and watch investors respond to journalism.

Lehman Is No Bear Stearns, Credit Swaps Show: Chart of Day Concerns that Lehman Brothers Holdings Inc. may not weather the credit turmoil have failed to trigger the same kind of market-wide panic that preceded the collapse of Bear Stearns Cos., trading in credit-default swaps on the biggest securities firms shows.

American Air Attendants Urge Filters to Bar Web Porn (Update3) American Airlines flight attendants are urging the world's largest carrier to filter its in-flight Internet service to block access to pornography and other Web sites the workers said were inappropriate.

WaMu Tumbles for Third Day on Concern About Capital (Update5) Washington Mutual Inc., the largest U.S. savings and loan, tumbled for a third day on concern the lender may be forced to raise new capital to cover as much as $19 billion of loan losses.

U.S. Says Royalty Workers Had Sex With Oil Contacts (Update2) Employees in the same U.S. agency whose errors cost the government billions of dollars in oil royalties had sex with their industry contacts and took illegal drugs such as cocaine, an inspector general investigation found.

Soros Loses at Least $120 Million From Lehman Stake (Update1) Billionaire George Soros's hedge fund may have lost at least $120 million on its stake in Lehman Brothers Holdings Inc., mostly acquired in the second quarter, as the investment bank suffered its worst financial result.