Lehman Brothers
{{#badges:CoalSwarm}} Lehman Brothers provides financial services to corporations, governments, institutions, and wealthy individuals worldwide. It is based in New York City with regional headquarters in London and Tokyo. [1]
Contents
History
- In 1977, Lehman Brothers merged with Kuhn Loeb & Co.
- In 1984, Lehman Brothers was acquired by American Express and merged with their retail brokerage Shearson, to form Shearson Lehman Brothers.
- In 1993, the company was spun off by American Express and was once again called Lehman Brothers.
- In 2001, the company's offices were destroyed when the World Trade Center in New York City came down, after which it moved its offices elsewhere in the city.
Coal investments
Lehman Brothers is a major financier of new coal plant construction. New coal-fired power plants being funded by the company include:
- Stanton Energy Center (FL)
- Ely Energy Center, Phase I (NV)
- Ely Energy Center, Phase II (NV)
- Great Bend IGCC (OH)
- Red Rock Generating Facility (OK)
- Marion City Project (SC)
- Spruce Unit 2 (TX)
- Big Brown 3 (TX)
- Lake Creek 3 (TX)
- Martin Lake 4 (TX)
- Monticello 4 (TX)
- Valley 4 (TX)
- Wise County Plant (VA)
- Mountaineer (WV)
Political contributions
Stephen M. Lessing, former Managing Director and now Head of Client Relationship Management at Lehman Brothers, is a Bush Ranger having raised at least $200,000 for Bush in the 2004 presidential election. [3]
Lehman Brothers gave $130,680 to federal candidates in the 2006 election through its political action committee - 38% to Democrats, 57% to Republicans, and 5% to other parties. [4]
Lobbying
The company spent $920,000 for lobbying in 2006. In-house lobbyists were used along with the lobbying firms American Continental Group, O'Neill, Athy & Casey, and DLA Piper. [5]
Personnel
| Key executives and 2006 pay: [6] | Options exercised |
|||
| Richard S. Fuld, Jr., Chairman and Chief Executive Officer | $19,520,000 | $31,940,000 | ||
| Joseph M. Gregory, Chief Operating Officer | $15,410,000 | $31,970,000 | ||
| Thomas A. Russo, Chief Legal Officer | $9,750,000 | $9,520,000 | ||
| Christopher M. O'Meara, Chief Financial Officer | $2,500,000 | $0 | ||
| David Goldfarb, Executive Vice President | $9,020,000 | $13,190,000 |
- Stephen M. Lessing, Head of Client Relationship Management[7]
Selected board members: [8]
- John F. Akers, Former Chairman of IBM
- Thomas H. Cruikshank, Former Chairman and Chief Executive Officer of Halliburton Company
- Christopher Gent, Chairman of GlaxoSmithKline
Contact details
745 7th Avenue
New York, NY 10019
Phone: 212-526-7000
Fax: 212-526-8766
Web: http://www.lehman.com
Related SourceWatch articles
- banking
- Richard Holbrooke is a former Managing Director of Lehman Brothers
References
- ↑ Lehman Brothers Profile, Yahoo Finance, accessed August 2007.
- ↑ Lehman Brothers History, Baker Library, accessed August 2007.
- ↑ Bush Ranger Stephen M. Lessing, Texans for Public Justice, accessed August 2007.
- ↑ 2006 PAC Summary Data, Open Secrets, accessed August 2007.
- ↑ Lehman Brothers lobbying expenses, Open Secrets, accessed October 2007.
- ↑ Lehman Brothers Key Executives, Yahoo Finance, accessed October 2007.
- ↑ Senior Management, Lehman Brothers, accessed August 2007.
- ↑ Board of Directors, Lehman Brothers, accessed August 2007.
External articles
- C. Bryson Hull and Andrew Quinn, "Enron Suit Targets Wall St. Firms", Reuters/CorpWatch, April 8, 2002.
- Eric Dash, "C.E.O. Pay Keeps Rising", The New York Times/CorpWatch, April 9, 2006.
