Lehman Brothers booked a nearly $4 billion quarterly loss Wednesday and announced a series of drastic steps aimed at reviving the beleaguered firm.With no choice but to sell off what it can to stay afloat, the clock is ticking on yet another major investment bank.The firm said it would spin-off part of its commercial real estate assets, sell a majority stake of its investment management division and slash its annual dividend.
Lehman's up to $9 in early trading. We'll see if it's the beginning of the new, leaner Lehman, or...DEAD CAT BOUNCE.
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