Lehman Brothers Still Spending Cash It Doesn't Have
From the department of the kind of appalling, the bankrupt Wall Street giant Lehman Brothers is still trying to lease office space, Crain's New York Business tells us.
Apparently, the remnants of the crippled firm need office space for the employees who are still trying to figure out remaining issues surrounding the bankruptcy--even as the firm tries to shed office space that it used while solvent.
The bigger problem is that ultimately Lehman's failure could mean dumping a huge volume of empty office space on the real estate market. That can't be good for the city's economy.
For our recent story about how Lehman's collapse revealed how the white-shoe firm relied on a seamier subsidiary to do its dirty work, check out "Wall Streetwalkers."