Companies: "Enron", "Lehman Brothers', "Dell"

Cases Henry was wonderful and the expiration of six years after his departure, the two brothers moved to it - Emanuel and Mayer. It is worth noting that while the cash did not have such power, and for the goods along with the cash could pay for the type of barter. The main clients of Lehman Brothers were farmers, so it is often enough to him paying agricultural or cotton. As a result, the brothers had to think about how to evaluate Skopje variety of products, while not losing on numerous exchanges and resale. Around this time, Lehman Brothers reflect on the question of the creation of the commodity exchanges. Another amendment in the business was the beginning of hostilities between northerners and southerners. Unfortunately, the business Lehman Brothers was in the most war-affected agricultural South. After the war, the brothers decided to try his luck in the North. Things went uphill. In 1858, the brothers opened in New York, its office. Through intuition and business relations in the South in 1867, they issue bonds, and the money went to the salvation of the whole region. By and large, from this date, you can start counting the emergence of investment bank Lehman Brothers, which in the future will bring enormous profits.On the way to the securities.Start of the second half of the XIX century was marked by the construction boom in the US railway system. That is what has turned the United States from the agrarian to the industrial state. In order to finance the railway construction companies to issue bonds. Lehman Brothers have noticed that in this New York brokers earn pretty well. This was the main argument that led them to the open spaces of the New York Stock Exchange, to become the securities traders. In the period from 1906 to 1969, the company experienced its "golden age". During this time it was released a number of different editions of the shares, but the company Lehman Brothers has significantly expanded the scope of its investment activity. Managers of the company in anticipation of a future multi-million dollar profits help to stand up to some cinematic and oil companies, making it later turned into quite a powerful bank. In the middle of the twentieth century, their leadership was among the most influential US bankers. In 60 of XX century, the company takes the position of the official dealer of the securities US Treasury (without the involvement of "Uncle Herbert" who was mayor of New York), so that turns out though powerful, yet simple American bank in international financial organization with offices in many countries of Europe and Asia.Star fever.American ExpressPosle how the "golden age" of the bank is ended, and the support of the representatives of the higher echelons of power has been lost, Lehmann had to look for new partners. In 1984, American Express Company received a controlling stake in Lehman Brothers investment bank. Yet the 90's and beginning of the 2000s were another "golden age" for the company. During this period, the bank receives billions of dollars in profit, and its leadership does not have to worry about the safety of their deposits in mortgage bonds. And why all this concern, if in the period from 2004 to 2007, the bank took the first place on the London Stock Exchange in trading volume, and in 2007 became a consultant to Lehman in the largest deal in recent years - the sale of the bank ABN Amro. The amount of this transaction amounted to 98 billion dollars. No one at the time could not even think that just a year later Lehman Brothers will not cost a hundredth part of the deal.The collapse of Lehman Brothers.Bank Death was almost instantaneous. There are two reasons: Too much money was invested in mortgage securities, through which was launched global financial crisis Bank gave "drown" - he was denied by the government for financial support.In 2006, the investment bank Leman’s was at the peak of their success. Its net profit reached 4 billion dollars, and revenues reached the value in 17.58 billion dollars. Gains derived by a bank, beating even the wildest predictions put forward by analysts. However, the summer of 2007, rumors began to circulate that the company has resorted to forgery in order to understate the damage indicators on mortgage securities. June 9, 2008 the bank announced plans to release in the treatment of additional shares totaling 5 billion. Shortly before the release of the shares, S & P lowers rating of the bank, and after she got statements, many stockholders hurried to get rid of them, which led to a collapse in prices on the stock markets. September 12 was not the company's capitalization and 2.5 billion. September 15 was filed in the court of the bankruptcy proceedings. September 16 the bank was worth less than $ 250 million.Even at the first sign of the coming collapse of the bank's management began negotiating with the US government on the question of nationalization in exchange for salvation from ruin. However, to save the bank from ruin no one was going. It was an act of "public flogging", to force other banks to operate more efficiently.