Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Quick Hits: Auctioning Off Lehman - on eBay

By

Brief scrutiny of today's headlines.

PrintPRINT
A recent eBay (EBAY) searched found that Lehman Brothers may not be a completely worthless investment. Items ranging from golf balls to mouse pads to t-shirts bearing the Lehman Brothers name and logo are fetching premium prices on eBay.

The fall of Lehman Brothers, one of the world's largest investment firms, was followed by the piecemeal sell-off of the company's assets. While Barclays (BCS) may have been the biggest winner in the sale, now the average slob can own a tiny piece of the former firm.

Most listings come with descriptions promising "pieces of history" with accompanying tales of lost jobs and 401ks.While these rain ponchos and paperweights were once considered worthless corporate swag, they've now found a niche among collectors. One coffee mug has a current bid of $31.00, while a set of 5 promotional pens commands a $20 pricetag.

The most interesting -- and almost certainly the most disturbing -- item for sale is the "Lehman Brothers Evacuation Kit." Created and distributed to employees following 9/11, the kit comes complete with a flash light, smoke mask and emergency whistle. I suppose it may prove useful in navigating these dire economic times - or, in a pinch, as a somewhat macabre Christmas gift.

The seller offering an unopened promotional cube emblazoned with Lehman's operational principles wrote: "I wish management listened to the same things on this cube! Then [many] talented people wouldn't be out of a job." One of the principles listed on the cube: "Demonstrating smart risk management."

There may be hope for those who lost their jobs in the wake of Lehman's collapse: Just clean out your closets.
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE