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Lehman Brothers Founded
Founded by the brothers Henry, Emanuel, and Mayer Lehman in Montgomery, Alabama -
Lehman Brothers Corporation created
Closed- end investment company -
Lehman acquires Abraham & Co.
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American Express aquuires Lehman Brothers and merges with Shearson
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American Express divests Shearson and independant firm becomes Lehman Brothers again
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Dick Fuld (former chairman) becomes CEO
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Lehman Broher become independant through a public stock offering
Begins trading on the New York and Pacific stock exchanges -
Lehman faces vast losses and possible death
It is holding toxic debt but the feds step in and bail out the losses to keep it going. This happens again is 1998 -
Establishes an alliance with Tokyo Mitsubishi
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Aquires Neuberger Berman and the Crossroads Group
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Record high year
Posts record high net revenues, net income and earnings per common share for the fourth consecutive year and highest volume of trade on London stock exchange for third year in a row -
Bart McDade becomes president and COO in charge of saving company
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The collapse of Lehman Brothers
Files chapter 11 bankruptcy
26000 people loose jobs
Millions loose most or all money because Richard Fuld convinces all the people to give loans, buy shares and not sell stocks.
Has big impact on people involved
