AP
Battered Lehman to announce 'key' initiatives
Tuesday September 9, 7:08 pm ET
Lehman Brothers will announce third-quarter results, strategic initiatives early Wednesday
NEW YORK (AP) -- Lehman Brothers says it will unveil a set of "key strategic initiatives" early Wednesay as the embattled investment bank faces down investor concerns that it's running out of options to raise badly needed capital.
The announcement from Lehman late Tuesday came on the same day investors drove the company's shares down 45 percent to their lowest level in more than a decade.
The bank also said it would announce its quarterly results early Wednesday, a week ahead of schedule. It is expected to report a multibillion dollar loss.
"'I beg you, father, send Lazarus to my family, for I have five brothers. Let him warn them, so that they will not also come to this place of torment.’ Abraham replied, ‘They have Moses and the Prophets; let them listen to them.’ No, father Abraham,’ the rich man said, ‘but if someone from the dead appears to them, they will repent.’ And Abraham said, ‘If they do not listen to Moses and the Prophets, they will not change and repent, even if someone were to rise from the dead.’” Luke 16:27-31