3 posts and columns on Lehman Bros.

AOL’s Old News: Last Quarter Was as Bad as We Thought

in Media on February 4, 2009 at 4:20 am PT

Take a bow, J.P. Morgan analyst Imran Khan: You predicted that AOL would report an 18 percent drop in ad revenue for the last quarter of 2008. And it did! For your next trick: Tell us whether new AOL ad boss Greg Coleman can do anything about those numbers.

Voices

Photon Dynamics: Partial Recovery, Partial Explanation

in News on September 11, 2008 at 10:41 am PT

There’s still something not yet clear about the weird sell-off yesterday in shares of Photon Dynamics (PHTN). To review: PHTN holders on Friday approved a pending $15.60 a share cash takeover of the company by Orbotech (ORBK), an Israeli-based rival in the LCD display equipment business. But the stock yesterday hit an air pocket, dropping $2.19, or 14.5 percent, to $12.89, and trading as low as $10.74. I theorized that the drop might have had something to do with the role in the deal played by Lehman Bros., which has been an adviser to Orbotech.

Sure, the CBS-CNET Deal Seems Crazy–But Maybe in a Good Way

in News on July 18, 2008 at 7:02 am PT

A lot of people have been piling on CBS for its deal to buy Web site operator CNET Networks for $1.8 billion in cash. Not BoomTown. And it is not because newly crowned CBS Interactive CEO Quincy Smith is the ever-amusing Energizer Bunny of the Internet. Okay, CBS paid too much and that makes the whole thing suspect. But is it the wrong direction?