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Lehman Bros.' unexpected afterlife

Topics: Bankruptcy, Chapter 11, Equity, Management, Planning

The former investment giant, which triggered the worst phase of the financial crisis two years ago, plans to emerge from Chapter 11 as a profitable operating company with a new name, Lamco. Lehman Bros. is supposed to be dead and gone, but if you step off the elevator at the 40th floor of a midtown Manhattan skyscraper, you might think you've seen a ghost. Behind imposing glass doors stands a gleaming brown reception desk displaying, in silver letters, the name of the Wall Street giant that collapsed spectacularly two years ago this month, triggering the worst phase of the financial…

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Why the Next Few Years Look Grim for Health Coverage at Small Businesses

Topics: Credit, Insurance, Planning, Qualification, Small Business

Before most of the health insurance reforms of the Affordable Care Act (ACA) take effect in 2014, the tax credits already in effect for small firms that offer insurance will do little more than slow the erosion of coverage. But in the long run, if the state health insurance exchanges work properly, the savings for small companies and individuals may be much greater than expected. That's the take-home message of a new report from the Commonwealth Fundand an earlier paper that examined the impact of the ACA on the growth of health spending and insurance premiums. About 16.6 million people…

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Genzyme Cutting 1,000 Jobs Over Next 15 Months

Topics: Contract, Investor, Planning

Cambridge, MA-based Genzyme (NASDAQ: GENZ) is cutting 1,000 jobs over the next 15 months, as it faces intense pressure from shareholders to recover from manufacturing woes and deal with a takeover bid from Paris-based drug giant Sanofi-Aventis. Genzyme CEO Henri Termeer described the job cut plan this morning in a memo to employees. The layoffs represent about 10 percent of the company's workforce, he said. We are at a pivotal point in Genzyme's history," Termeer said in the memo. We have grown rapidly over the past two decades, increasing in size and diversifying our portfolio of products. Over the past…

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Long-Term Care: Will You Need It?

Topics: Insurance, Leverage, Planning, Small Business

One of the great perks about working for a big company is its employee benefits program, which is usually more bountiful than what you'd find at most small businesses. But one perk that may not be such a great deal is the employer-sponsored long-term care insurance plan. That's not to say that long-term care insurance isn't a good idea. It might even be necessary. A 2010 study by Age Wave/Harris Interactive reports that more than 50% of survey respondents say their biggest fear in retirement is being a financial burden on their loved ones. As an example of what this…

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12 Keynesian Insights To Blow The Mind Of Larry Kudlow

Topics: Credit, Investor, Loan, Planning, Risk

Recently Larry Kudlow has been outlining his 12 Step Plan to Free Market Prosperity and both implicitly and explicitly unleashing a tirade against Keynesianism, as if Keynesianism is the cause in fact of the problem. What makes this incredibly ironic is that in 2007, as the economy started cratering in dramatic fashion, Larry Kudlow was applauding the "free market" initiatives undertaken over the preceding decade, while naively proclaiming that : The recession debate is over. It's not gonna happen. Time to move on. At a bare minimum, we are looking at Goldilocks 2.0. (And that's a minimum). The Bush boom…

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Obama Takes GOP to Task on Economy, Taxes

Topics: Credit, Planning, Small Business

WASHINGTON (AP) - President Barack Obama is taking his case against Republican to millions of Americans on Friday, faulting the party for refusing to help him turn around the sluggish economy or support some proposed new tax breaks for businesses the party has backed in the past. Facing devastating poll numbers and prospects of big losses, Democrats are in danger of losing control of the House of Representatives in November congressional elections. In a nationally televised news confrence from the White House, Obama is trying to convince voters that they have a choice between going back to Republican policies that…

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