"In the 1930s, Lehman underwrote the initial public offering of the first television manufacturer, DuMont Laboratories, and helped fund the Radio Corporation of America (RCA).
It also helped finance the rapidly growing oil industry, including the companies Halliburton and Kerr-McGee..
In the 1950s, Lehman underwrote the IPO of Digital Equipment Corporation.
Later, it arranged the acquisition of Digital by Compaq."
the firm's real shift from being a commodities house to a house of issue did not begin until 1906.
In that year, under Emanuel's son Philip Lehman, the firm partnered with Goldman, Sachs & Co.,
to bring the General Cigar Co. to market,
followed closely by Sears, Roebuck and Company.
Among these were F.W. Woolworth Company,
May Department Stores Company,
Gimbel Brothers, Inc.,
R.H. Macy & Company,
The Studebaker Corporation,
the B.F. Goodrich Co.,
and Endicott Johnson Corporation. "
____
"David May was born to a Jewish family in Kaiserslautern, then located in the Kingdom of Bavaria, Germany.
In 1854, he immigrated with his family to the United States and settled in Cincinnati. As a young man he worked at a clothing factory, while attending night school at Cincinnati's Nelson Business College.
"After moving for health reasons to Leadville, Colorado, then undergoing a boom due to silver mining, he partnered with future brother-in-law Moses Shoenberg and opened a dry goods store in 1877.
In 1887, he purchased another store in Denver, Colorado partnering with brothers-in-law Joseph and Louis Shoenberg[2] (the Shoenbergs would later change their name to Beaumont).
In 1888, he sold the Leadville store to Meyers Harris. In 1892, he expanded out of Colorado and purchased "The Famous Clothing Store" in St. Louis, Missouri and in 1898, he purchased another store in Cleveland, Ohio which he renamed the "May Company." In 1905, he moved the business headquarters to St. Louis. In 1910, the business was incorporated as "The May Department Stores Company" and began trading on the New York Stock Exchange in 1911. Also in 1911, he bought the William Bar Dry Goods Company in St. Louis and merged it with The Famous Clothing Store renaming the new entity, Famous-Barr. He continued to expand, purchasing the M. O’Neil Department Store in Akron, Ohio in 1912 and A. Hamburger & Sons in Los Angeles in 1923."
"May Company went on to become one of the largest department store chains in the United States through organic growth and acquisitions. Some of the chains acquired included: Bernheim-Leader in Baltimore, Maryland; Kaufmann's in Pittsburgh, Pennsylvania; The Daniels & Fisher Stores Company in Denver, Colorado; Hecht's in Baltimore, Maryland; G. Fox & Co. in Hartford, Connecticut; and
Meier & Frank in Portland, Oregon."
____
'Despite Federated's long history of preserving regional nameplates,
its acquisition of the May Department Stores
Company in 2005 marked the end of those nameplates.
By the following year, both the Macy's and Bloomingdale's brands had replaced them nationwide. '
'In the mid-1930s, a modern merchandising standard was set when
Fred Lazarus Jr. arranged garments in groups of a single size
with a range of style, color and price, basing the technique upon observations made in Paris.
As well, Lazarus convinced President Franklin D. Roosevelt that
it would help American economy
to change the Thanksgiving holiday
from the last Thursday of November to the fourth Thursday,
thus extending the Christmas shopping season.
An act of Congress perpetuated the arrangement in 1941. Black Friday became a nationwide sensation and the most profitable day for Federated"
On October 14, 2013, Macy's Inc. announced the decision to open most of their stores for the first time on Thanksgiving Day 2013, breaking a long-standing tradition of 155 years, and joined the ranks of retailers who created Gray Thursday the year before.
____
"Lyman Bloomingdale was born on February 11, 1841 in New York City, the son of the Bavarian-born, German Jewish immigrant Benjamin Bloomingdale and Hannah Weil.
Lyman and his brother Joseph were trained in the retailing of ladies clothing at their father's store. Lyman Bloomingdale was educated at various public schools in New York, and also attended Smith's Collegiate Institute.
He served as a non-commissioned officer in the Kansas Volunteers in the Civil War."
(Americanized form of Dutch Bloemendaal and possibly also of German and Jewish (Ashkenazic) Blumenthal . )
____
"In 1857, Aaron Meier (1831–1889) arrived in the Oregon Territory at the age of 26 and opened a 35-by-50-foot (11 m × 15 m) mercantile store at 137 Front Street in Portland, which had a population of 1,300.
He had come to California from Bavaria during the Gold Rush, spending time as an itinerant peddler in Southern Oregon. He formed a partnership with a Mr. Mariholtz and began selling merchandise that arrived by steamer from San Francisco and
in the covered wagons rolling along the Oregon Trail "
In the great flood of 1894, the street level of Meier & Frank was three feet deep in water. Customers were brought into the store in rowboats and stepped onto raised walkways to do their shopping
Meier & Frank pioneered the concept of a "money-back guarantee", until then unheard-of in merchandising.
The store's green delivery wagons (later its delivery trucks) were ubiquitous in Portland, with the company willing to deliver purchases of any size—even a spool of thread.
Meanwhile, Clark Gable worked at Meier & Frank selling neckties.
The president of Meier & Frank, Julius L. Meier, was elected governor of Oregon as an independent, and served from 1931 to 1935.
For a time, Meier & Frank reigned as the largest retail outlet west of the Mississippi and one of the largest stores in the nation in the early 1930s. When President Roosevelt closed banks country-wide, Meier & Frank took out a full-page newspaper ad with a single word:
"Confidence".
Hundreds of people brought their savings to the store for safekeeping. The store canceled interest charges on all customers' credit accounts.
During World War II, Meier & Frank supported the Allied forces: Federal officials cited the store's efforts in support of the war 1941 to 1945 as the most outstanding of any department store in the United States.
Meier & Frank devoted all of its newspaper advertising space to bond sales; for 1,207 continuous days the back page of the first section of The Oregonian ran ads—not to sell merchandise
but to support the war effort.
The lot became Pioneer Courthouse Square in 1984.
in 1955. It had store-side parking for 1,000 cars.
Five years later Meier & Frank opened Oregon's second-largest department store (exceeded only by its own downtown store) in Northeast Portland in the new Lloyd Center, at the time
the world's largest shopping center. .
The crown prince of Japan (later Emperor Akihito) joined the dignitaries attending the opening festivities"
https://en.wikipedia.org/wiki/Meier_%26_Frank
____
https://dealbook.nytimes.com/2011/05/27/the-landmines-in-a-good-bankbad-bank-split/
Financing
Lehman Brothers helped finance Kerr-McGee Oil Industries, Inc.
Lehman Brothers was a bank that helped finance companies in a variety of industries, including oil, defense electronics, and the car rental business.
The Lehman Brothers bankruptcy in 2008 was the largest in U.S. history.
Lehman Brothers acted as a financial advisor for Anadarko Petroleum in a number of transactions, including the $18 billion acquisition of Kerr-McGee by Anadarko:
Kerr-McGee acquisition
Skip McGee, head of Lehman Brothers' investment banking division, played a key role in the acquisition. JP Morgan also acted as a financial advisor
____
" In December 2012, Tronox Inc. creditors concluded their case to recover at least $14 billion in damages from Anadarko Petroleum Corp’s Kerr-McGee unit over a spin off they claimed drove Tronox into bankruptcy.
In 2006, Kerr-McGee spun off part of its business as Tronox
before selling itself to Anadarko for $18.4 billion.
Tronox, which was previously under bankruptcy protection, alleged that
Anadarko’s Kerr-McGee unit made the company insolvent b
by stripping away valuable oil and natural-gas assets and saddling it with
legacy costs for environmental remediation
. Kerr-McGee alleged the suit was “sensational” and that Tronox was solvent, worth more than $1 billion and “poised to succeed.” On December 13, 2013, Judge Allan Groper of the Bankruptcy Court, Southern District of New York, found that the transfer was made with the intent
to hinder and delay the creditors and, further, that it was not made for reasonably equivalent value,"
_____
"Anadarko E&P Onshore LLC (“Anadarko”), an oil and natural gas company headquartered in Houston, Texas, is a wholly owned subsidiary of Occidental , and an affiliate of Glenn Springs Holdings, Inc.
Anadarko has been a part of the Enid community since 2000 when we purchased Union Pacific Resources, which owned the Champlin Refinery property.
Although the Champlin Refinery closed 16 years prior to being acquired by Anadarko, our top priority has been, and continues to be, managing our Enid property responsibly and in compliance with all regulations.
Since 2000, Anadarko has worked closely with the Oklahoma Department of Environmental Quality (DEQ) to address environmental impacts in the former Champlin Refinery area and continues working through the regulatory process.
One area that we are monitoring is located south of the former Champlin Refinery.
The water you receive in your home for drinking, washing, and other potable purposes is provided from the City of Enid Public Water Supply.
There is no water quality issue associated with this water supply. The groundwater that is subject to this ongoing monitoring is separate from the city’s public water supply, and cannot be used for any potable purposes, according to city ordinance.
https://www.champlinrefinery.com/
1954: Purchased by the Chicago Corporation for $55,000,000. This parent company changed its name to Champlin Refining Company in 1956.
1964: The Celanese Company purchased the company.
1970: The company was sold to Union Pacific Corporation and was kept as a wholly owned subsidiary.
1984: The Retail business of Champlin was purchased by American Petrofina, after Champlin closed the refinery.
around 1986, Union Pacific Corporation and Champlin Petroleum Company sold the Corpus Christi Refinery. The Champlin trade name was part of the deal. Champlin's name was changed to Union Pacific Resources Company (UPRC).
During late 1990s, Union Pacific Corporation spun off the Union Pacific Resources Company.
2000: Anadarko Petroleum acquired Union Pacific Resources.
_____
"The liquidation of Lehman Brothers' brokerage
unit was completed on September 28, 2022,
after 14 years.
The liquidation process included:
Returning over $115 billion to customers and creditors
Paying $106 billion to Lehman's 111,000 customers
Making 100 percent distributions to secured, priority, and administrative creditors
Making a 41.2841 percent recovery to unsecured general creditors "
______
Did anyone go to jail for the 2008 financial crisis?
Yes, at least one person went to jail for their role in the 2008 financial crisis: Kareem Serageldin, a former Credit Suisse executive:
Did anyone go to jail for the 2008 financial crisis?
Yes, at least one person went to jail for their role in the 2008 financial crisis: Kareem Serageldin, a former Credit Suisse executive: *
Crime
Conspiracy to falsify books and records of a financial institution
Sentence
30 months in prison
____
"A historic settlement reached with Anadarko Petroleum Corp. and Kerr McGee
has gone into effect, allowing funds to be disbursed for cleanups across the country,
announced Assistant Attorney General John C. Cruden for the Department of Justice’s Environment and Natural Resources Division,
U.S. Attorney Preet Bharara of the Southern District of New York,
and Assistant Administrator Cynthia Giles of the U.S. Environmental Protection Agency (EPA).
This settlement resolves fraudulent conveyance claims brought by the United States and the Anadarko Litigation Trust, the trust against Anadarko Petroleum Corporation and its affiliates, the defendants, in the bankruptcy of Tronox Inc. and its subsidiaries.
Today, pursuant to the settlement agreement, the defendants paid $5.15 billion, plus interest, to the trust.
The trust is expected to distribute more than $4.4 billion to fund environmental clean-up and for environmental claims.
The settlement constitutes the largest payment
for the clean-up of environmental contamination
ever obtained in a lawsuit brought by the Department of Justice."
'The Kerr-McGee Corporation spent decades despoiling our nation’s natural resources,
leaving a toxic legacy for communities across the nation, from Sidney, New York, to the Navajo nation,” said U.S. Attorney Bharara.
“Then, Kerr-McGee tried to escape the consequences of its misdeeds by transferring its most valuable assets to affiliates,
leaving an insolvent shell behind, unable to pay its environmental liabilities.
As today’s historic payment shows, the government will not allow polluters to escape paying for the damage they inflict on our land,
water and people, and we will hold accountable those who attempt to shield themselves from responsibility behind improper corporate transactions.”
“If you pollute the environment, you should ....,"
Pollute again and install Trump, Bush, Obama, Biden Regulators.
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