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Lehman posts $3.9 bln loss, will sell assets
Last update: 8:41 a.m. EDT Sept. Lehman's third-quarter loss amounted to $5.62 a share. Sept. 18, fell about 45% in Tuesday's damaging trading, plunging to $7.79. Bear Stearns' collapse and takeover by J.P. Lehman on Wednesday said it plans to spin off to shareholders $25 billion to $30 billion of its commercial-real-estate portfolio into a separate, publicly traded company. This is an extraordinary time for our industry, and one of the toughest periods in the firm's history," said Richard Fuld, Lehman's embattled chief executive, according to a company statement. Lehman shares were initially down in pre-market trading but staged a rebound as the New York Stock Exchange's opening bell neared. 8:07 AM today U.S. U.S. stock futures turn lower after Lehman updateLehman slashes annual dividend by 93%, saves $450 millionLehman Brothers suffers $3.9 bln loss, plans to jettison assetsResearch In Motion readies BlackBerry 'assault'OPEC lowers output quotas in wake of price decline...
Originally from: http://www.marketwatch.com/news/story/lehman-brothers-suffers-39-bln/story.aspx?guid=0840CF0A-E668-4624-9FE2-8CF61AF92693&dist=SecEditorsPicks
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US stocks end sharply lower as Lehman feeds anxiety
U.S. Last update: 5:00 p.m. EDT Sept. Losses deepen for U.S. stocks at midday, with equities failing to extend the prior session’s sharp gains tied to the federal rescue of mortgage giants Fannie Mae and Freddie Mac. Lehman shares lose nearly half of their value Tuesday on concern about the brokerage firm’s plans to raise capital and sell assets. Crude-oil futures fall nearly 3% to close at their lowest level since April. Apple takes the wraps off its latest versions of iPod portable music and video players, cutting the prices on its iPod touch and launching a redesigned iPod nano ahead of the holiday-shopping season. Even though the government takeover of Fannie Mae and Freddie Mac is seen easing mortgage rates and making homes more affordable in the short term, there is still little consensus on Wall Street over whether housing stocks have bottomed. Perhaps the only one who really knows what Sarah Palin is going through this morning is Geraldine Ferraro. MARKETWATCH PERSO...
Originally from: http://www.marketwatch.com/news/story/us-stocks-end-sharply-lower/story.aspx?guid=%7B8E3650B0-D8BB-4E6F-9BAA-EBC67788BC0C%7D&dist=msr_1
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Meghan McCain's Defense of Bristol Palin
ABC News' Bret Hovell reports: Meghan McCain, the daughter of presumptive Republican nominee John McCain, and purveyor of McCainBlogette.com, a blog about her travels on the campaign trail, has a post this morning about Bristol Palin's pregnancy.Meghan McCain describes a kinship with other political offspring and talks about the question that "single-handedly changed my life" -- when her father was asked during his 2000 campaign what his reaction would be if Meghan, then 14, got pregnant. Her post, titled "Daughters," is below in full.Meghan wrote: "The first political convention I ever attended was when my mom was pregnant with me in 1984 and the Republican Party nominated Ronald Reagan for a second term as president. If there is one thing I have learned, it is that it is difficult to establish your identity and independence as the son or daughter of a politician. When I was 14 years old, a reporter questioned my father about me having a hypothetical abortion, had I been pregnant at ...
Originally from: http://blogs.abcnews.com/politicalradar/2008/09/meghan-mccains.html
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