Welcome to Lehman Brothers. We’re Open for Business
Of the many debts that John Suckow would like to unwind from Lehman Brothers Holdings, the first might be shame.
Stigma, baggage, jokes about zombie banks back from the dead—Suckow would like to jettison all that, just as Lehman is liquidating what remains of its assets, four years after the bank’s failure sent the financial crisis into overdrive. There are deals to do, and creditors impatient to get pennies on the dollars owed them. Dwelling on the strangeness of Lehman’s ongoing existence isn’t going to get the work done faster.
“What might surprise you here a little bit,” says Suckow, Lehman’s president and chief executive officer, sitting in shirtsleeves in a conference room on the 40th floor of the Time & Life Building, “is that if you walked in and walked around these floors, this is an operating company.”