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97-626: The firm was involved in the Lehman Brothers and General Motors bankruptcies , the investigation into the Bernard Madoff fraud, Bush v. Gore , the Major League Baseball steroid investigation , and public relations works for fossil fuel industry clients. As of January 2020, FTI Consulting had the largest restructuring business in the US. As of December 31, 2023, FTI´s clients include 98 of

194-459: A $ 25-million after-tax charge and a $ 27-million reduction in goodwill . The firm said that poor market conditions in the mortgage space "necessitated a substantial reduction in its resources and capacity in the subprime space". In 2008, Lehman faced an unprecedented loss due to the continuing subprime mortgage crisis . Lehman's loss resulted from having held onto large positions in subprime and other lower-rated mortgage tranches when securitizing

291-509: A 4.5% one-day drop in the Dow Jones Industrial Average , then the largest decline since the attacks of September 11, 2001 . It shook confidence in the government's ability to manage the crisis and prompted a general financial panic. Money market mutual funds , a key source of credit, saw mass withdrawal demands to avoid losses, and the interbank lending market tightened, threatening banks with imminent failure. The government and

388-538: A ban prohibiting stock trading by employees, numbering around 5,700, who had access to its internal news information management system. The employees were required to pledge in writing that they would not trade in stocks, and were required to gain approval from senior staff to sell shares they already held. NHK banned short-term stock trading completed in periods of six months or less for all other employees. The ban did not extend to employees' families, nor did NHK request any reports on their transactions. On 24 July 2013,

485-517: A buyout by MidAmerican Energy , part of Berkshire Hathaway (headed by billionaire Warren Buffett ). The Federal Agricultural Mortgage Corporation or Farmer Mac said it would have to write off $ 52.4 million in Lehman debt in the form of senior debt securities it owned as a result of the bankruptcy. Farmer Mac said it might not be in compliance with its minimum capital requirements at the end of September. In Hong Kong, more than 43,700 individuals in

582-459: A combined 249 billion yen ($ 2.4 billion) in potential losses tied to the Lehman shock. Mizuho Trust & Banking cut its profit forecast by more than half, citing 11.8 billion yen in losses on bonds and loans linked to Lehman. The Bank of Japan Governor Masaaki Shirakawa said, "Most lending to Lehman Brothers was made by major Japanese banks, and their possible losses seem to be within the levels that can be covered by their profits," adding, "There

679-561: A forensic accounting practice based in the UK . In 2009, FTI Consulting was listed by Fortune as one of the 100 fastest-growing U.S. companies. In 2010, FS Asia Advisory Limited was acquired in Hong Kong , expanding FTI's activities in Asia. In January 2014, FTI Consulting acquired London -based TLG Partners , which produced a series of annual thought leader indexes. In the same month, Steven H. Gunby

776-421: A loss relating to the transactions" and warned that "actual losses could materially exceed current estimates." Freddie was still in the process of evaluating its exposure to Lehman and its affiliates under other business relationships. After Constellation Energy was reported to have exposure to Lehman, its stock went down 56% in the first day of trading having started at $ 67.87. The massive drop in stocks led to

873-625: A money-management firm targeted at wealthy individuals. Its $ 2.5 billion of assets would join Neuberger's $ 50 billion in high-net-worth client assets under management. An article in The Wall Street Journal on September 15, 2008, announcing that Lehman Brothers Holdings filed for Chapter 11 bankruptcy protection , quoted Lehman officials regarding Neuberger Berman: Neuberger Berman LLC and Lehman Brothers Asset Management will continue to conduct business as usual and will not be subject to

970-564: A potential liability of $ 2.5 billion to be paid as severance , if it chooses not to retain some Lehman employees beyond the guaranteed 90 days. On September 22, 2008, Nomura Holdings, Inc. announced it agreed to acquire Lehman Brothers' franchise in the Asia Pacific region including Japan, Hong Kong and Australia. The following day, Nomura announced its intentions to acquire Lehman Brothers' investment banking and equities businesses in Europe and

1067-409: A press conference addressing sexual abuse by its late founder Johnny Kitagawa . The Japanese public broadcaster NHK reported that the consulting firm had a 'blacklist' of journalists to avoid calling on during the event. FTI admitted the existence of the 'blacklist' as well as a list of reporters who should preferably be given a chance to ask a question. The firm also admitted the lists were given to

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1164-446: A real estate hedge fund disguised as an investment bank . By 2008, Lehman had assets of $ 680 billion supported by only $ 22.5 billion of firm capital. From an equity position, its risky commercial real estate holdings were thirty times greater than capital. In such a highly leveraged structure, a three- to five-percent decline in real estate values would wipe out all capital. Lehman borrowed significant amounts to fund its investing in

1261-718: A reporter at NHK Metropolitan Broadcasting Center died of congestive heart failure . In May 2014, the Shibuya Labor Standards Inspection Office of the Tokyo Labor Bureau certified it as a karōshi (overwork death). Although NHK did not report on this matter, it was announced in October 2017. Ryōichi Ueda, the chairman of NHK, visited the reporter's parents' home and apologized to them. NHK has occasionally faced various criticisms for its treatment of Japan's wartime history. Katsuto Momii ( 籾井 勝人 ) ,

1358-460: A result, after a rash of NHK-related scandals including an accounting one , the number of people who had not paid the license fee surpassed one million watchers. This incident sparked debate over the fairness of the fee system. In 2006, the NHK opted to take legal action against those most flagrantly in violation of the law. This fee and how it is charged is unpopular with some citizens. This led to

1455-577: A share. It was one of the first litigation support companies to be publicly traded. Forensic Technologies International rebranded itself as FTI Consulting in 1998, and in 1999 began trading on the New York Stock Exchange as FCN. After 1998, FTI's business focused increasingly on "financial surgery on troubled companies, either through bankruptcy proceedings or in workout situations with creditors." The company added over 1,000 employees to its Forensic and Litigation Consulting ("FLC") division since

1552-485: A similar emergency." Luc Despins, the creditors committee counsel, said: "The reason we're not objecting is really based on the lack of a viable alternative. We did not support the transaction because there had not been enough time to properly review it." In the amended agreement, Barclays would absorb $ 47.4 billion in securities and assume $ 45.5 billion in trading liabilities. Lehman's attorney Harvey R. Miller of Weil, Gotshal & Manges , said "the purchase price for

1649-578: A story in The New York Times revealed that Lehman had used a small company, Hudson Castle , to move a number of transactions and assets off Lehman's books as a means of manipulating accounting numbers of Lehman's finances and risks. One Lehman executive described Hudson Castle as an "alter ego" of Lehman. According to the story, Lehman owned one quarter of Hudson; Hudson's board was controlled by Lehman, most Hudson staff members were former Lehman employees. On February 22, 2011, Judge James M. Peck of

1746-509: A unit of Canada's Great-West Lifeco , shut a $ 12.3 billion money-market fund as it faced "significant redemption pressure" on September 17, 2008. Evergreen Investments said its parent Wachovia Corporation would "support" three Evergreen money-market funds to prevent their shares from falling. This move to cover $ 494 million of Lehman assets in the funds also raised fears about Wachovia's ability to raise capital. Close to 100 hedge funds used Lehman as their prime broker and relied largely on

1843-542: Is a Japanese public broadcaster . It is a statutory corporation funded by viewers' payments of a television license fee . NHK operates two terrestrial television channels ( NHK General TV and NHK Educational TV ), three satellite television channels (NHK BS; as well as two ultra-high-definition television channels, NHK BS Premium 4K and NHK BS8K ), and three radio networks ( NHK Radio 1 , NHK Radio 2 , and NHK FM ). NHK also provides an international broadcasting service, known as NHK World-Japan . NHK World-Japan

1940-505: Is a good system to prepare such lists, Akihiro Nojiri, Senior Managing Director of Strategic Communications at FTI Consulting Japan Office, said, "Well, I don't think I am in a position to judge whether it is good or not." Bankruptcy of Lehman Brothers The bankruptcy of Lehman Brothers , also known as the Crash of '08 and the Lehman Shock on September 15, 2008, was the climax of

2037-454: Is also bilingual and airs on NHK General TV and the international channels and NHK World Premium. World News , a program which airs bulletins from international broadcasters interpreted in Japanese, is aired on NHK BS1 with Catch! Sekai no Top News in the morning and International News Report at night, with the latter also airing on NHK World Premium. News on NHK BS1 is aired at 50 minutes past

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2134-660: Is composed of NHK World TV , NHK World Premium , and the shortwave radio service Radio Japan (RJ). World Radio Japan also makes some of its programs available on the Internet. NHK was the first broadcaster in the world to broadcast in high-definition (using multiple sub-Nyquist sampling encoding , also known as Hi-Vision) and in 8K . In regards to NHK's relationship with Johnny & Associates, they have stated that NHK acknowledges that sexual abuse allegations related to Johnny & Associates had repeatedly been reported for many years, but NHK also stated that they lacked awareness of

2231-455: Is funded by the Japanese government. The annual budget of NHK is subject to review and approval by the Diet of Japan . The Diet also appoints the twelve-member board of governors (経営委員会 keiei iinkai ) that oversees NHK. NHK is managed on a full-time basis by an executive board ( 理事会 , rijikai ) consisting of a president, executive vice president and seven to ten managing directors who oversee

2328-461: Is no concern that the latest events will threaten the stability of Japan's financial system." During bankruptcy proceedings a lawyer from The Royal Bank of Scotland Group said the company was facing between $ 1.5 billion and $ 1.8 billion in claims against Lehman partially based on an unsecured guarantee from Lehman and connected to trading losses with Lehman subsidiaries, Martin Bienenstock. Lehman

2425-507: Is standardized, with discounts for office workers and students who commute, as well a discount for residents of Okinawa prefecture . For viewers making annual payments by credit card with no special discounts, the reception fee is 13,600 yen per year for terrestrial reception only, and 24,090 yen per year for both terrestrial and broadcast satellite reception. However, the Broadcasting Act specifies no punitive actions for nonpayment; as

2522-859: The Gyokuon-hōsō , the surrender speech made by Emperor Hirohito , in August 1945. Following the war, in September 1945, the Allied occupation administration under General Douglas MacArthur banned all international broadcasting by NHK, and repurposed several NHK facilities and frequencies for use by the Far East Network (now American Forces Network ). Japanese-American radio broadcaster Frank Shozo Baba joined NHK during this time and led an early post-war revamp of its programming. Radio Japan resumed overseas broadcasts in 1952. A new Broadcasting Act  [ ja ]

2619-569: The 1964 Summer Olympics , the first widely televised Olympic Games. The complex was gradually expanded through 1973 when it became the headquarters for NHK. The previous headquarters adjacent to Hibiya Park was redeveloped as the Hibiya City high-rise complex. NHK began experimental satellite broadcasting with the NHK BS ;1 channel in 1984, followed by NHK BS 2 in 1985. Both channels began regular broadcasts in 1989. In April 2011, BS 1

2716-484: The 2011 Tōhoku earthquake and tsunami – Iwate , Miyagi , Fukushima – where it was discontinued on 31 March 2012). From 1963 to 1999, NHK published the journal Studies of broadcasting: an international annual of broadcasting science . NHK is a dependent corporation chartered by the Japanese Broadcasting Act and primarily funded by license fees. NHK World broadcasting (for overseas viewers/listeners)

2813-556: The 2011 Tōhoku earthquake and tsunami . NHK broadcasts sumo wrestling , baseball games, Olympic Games , soccer games, and a range of other sports. Their broadcast of the last two days of October 1952's autumn sumo tournament became the first ever televised sports broadcast in Japan. The NHK Symphony Orchestra , financially sponsored by NHK, was formerly (until 1951) the Japanese Symphony Orchestra. Its website details

2910-586: The Black Lives Matter movement and George Floyd protests that was criticized for its "crude" animation of protesters and its focus on economic inequality rather than police brutality. An official statement signed by Yuichi Tabata, head of NHK's International News Division, was released through NHK's official website. On 9 January 2022, NHK issued an apology over false allegations made in Director Naomi Kawase 's Tokyo Olympics documentary. Kawase

3007-500: The Federal Reserve Bank of New York , called a meeting on the future of Lehman, which included the possibility of an emergency liquidation of its assets. Bankers representing all the major Wall Street firms were in attendance. The meeting goal was to find a private solution in rescuing Lehman and extinguish the flame of the global financial crisis. Lehman reported that it had been in talks with Bank of America and Barclays for

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3104-475: The Hong Kong Association of Banks , agreed to buy back the bonds, which were priced using an agreed upon methodology based on its estimated current value. Neuberger Berman Inc., through its subsidiaries, primarily Neuberger Berman, LLC, is an investment-advisory firm founded in 1939 by Roy R. Neuberger and Robert Berman, to manage money for high-net-worth individuals . In the decades that followed,

3201-678: The Imperial Japanese Army nationalised all public news agencies and coordinated their efforts via the Information Liaison Confidential Committee. All published and broadcast news reports became official announcements of the Imperial Army General Headquarters in Tokyo for the duration of World War II . The famous Tokyo Rose wartime programs were broadcast by NHK. NHK also recorded and broadcast

3298-768: The Japan Meteorological Agency makes NHK capable of delivering earthquake early warnings seconds after detection, as well as a more detailed report with Shindo intensity measurements within two-to-three minutes after the quake. They also broadcast air attack warnings in the event of war, using the J-Alert system. All warnings are broadcast in Japanese, with tsunami warnings also delivered in four foreign languages: English, Mandarin Chinese, Korean and Portuguese (Japan has small Chinese , Korean and Brazilian populations). The warnings were broadcast in these languages during

3395-399: The New York Stock Exchange halting trade of Constellation. The next day, as the stock plummeted as low as $ 13 per share, Constellation announced it was hiring Morgan Stanley and UBS to advise it on "strategic alternatives", suggesting a buyout. While rumors suggested French power company Électricité de France would buy the company or increase its stake, Constellation ultimately agreed to

3492-540: The Taipei Times , stating, "[South] Korea's statements that Japan is the only nation that forced this are puzzling. 'Give us money, compensate us', they say, but since all of this was resolved by the Japan–Korea peace treaty, why are they reviving this issue? It's strange." It was subsequently reported by The Japan Times that on his first day at NHK Momii asked members of the executive team to hand in their resignation on

3589-424: The largest bankruptcy filing in U.S. history , with Lehman holding over $ 600 billion in assets. On September 22, 2008, a revised proposal to sell the brokerage part of Lehman Brothers holdings of the deal was put before the bankruptcy court, with a $ 1.3666 billion (£700 million) plan for Barclays to acquire the core business of Lehman Brothers (mainly Lehman's $ 960 million Midtown Manhattan office skyscraper),

3686-512: The subprime mortgage crisis . After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganization. These discussions failed, and Lehman filed a Chapter 11 petition that remains the largest bankruptcy filing in U.S. history , involving more than US$ 600 billion in assets. The bankruptcy triggered

3783-543: The 21st Director-General of NHK, caused controversy by discussing Japan's actions in World War II at his first press conference after being appointed on 20 December 2013. It was reported that Momii said NHK should support the Japanese government in its territorial dispute with China and South Korea. He also caused controversy by what some describe as the playing down of the comfort women issue in World War II, according to

3880-600: The Federal Reserve system responded with several emergency measures to contain the panic. As of May 2022, parent company Lehman Brothers Holdings, Inc. remained in liquidation before the Bankruptcy Court for the Southern District of New York . Caretaker offices in the US and abroad have continued to oversee payments to the company's creditors. Lehman Brothers was one of the first Wall Street firms to move into

3977-555: The Lehman Brothers' top people forgo multimillion-dollar bonuses to "send a strong message to both employees and investors that management is not shirking accountability for recent performance". Lehman Brothers Investment Management Director George Herbert Walker IV dismissed the proposal, going so far as to actually apologize to other members of the Lehman Brothers executive committee for the idea of bonus reduction having been suggested. He wrote, "Sorry team. I am not sure what's in

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4074-517: The London business and the U.S. holding company filed for bankruptcy, positions held by those hedge funds at Lehman were frozen. As a result, the hedge funds were forced to de-lever and sit on large cash balances, inhibiting chances at further growth. This in turn created further market dislocation and overall systemic risk, resulting in a $ 737 billion decline in collateral outstanding in the securities lending market. In Japan, banks and insurers announced

4171-457: The Middle East. A few weeks later it was announced that conditions to the deal had been met, and the deal became legally effective on Monday, October 13. In 2007, non-US subsidiaries of Lehman Brothers were responsible for over 50% of global revenue produced. The Dow Jones closed down just over 500 points (−4.4%) on September 15, 2008, at the time the largest drop by points in a single day since

4268-479: The NHK brand is common for the whole country. All of them can also be tuned through the Internet, within the national territory. It also has one exclusive satellite channel, as well as two in ultra-high definition. NHK is funded by reception fees ( 受信料 , jushinryō ) , a system analogous to the license fee used in some English-speaking countries. The Broadcasting Act which governs NHK's funding stipulates anyone with equipment able to receive NHK must pay. The fee

4365-545: The Primary Reserve Fund was the first time since 1994 that a money-market fund had dropped below the $ 1-per-share level. On Monday, September 15, 2008, the market staged a run on AIG with shares plummeting 61 percent. Shareholders also fled from Goldman Sachs and Morgan Stanley. Two weeks later, the Fed agreed to give the bank holding company status which provided vital access to the Fed discount window. Putnam Investments ,

4462-478: The U.S. Bankruptcy Court in the Southern District of New York rejected claims by lawyers for the Lehman estate that Barclays had improperly reaped a windfall from the section 363 sale. "The sale process may have been imperfect, but it was still adequate under the exceptional circumstances of Lehman Week." NHK The Japan Broadcasting Corporation ( Japanese : 日本放送協会 , Hepburn : Nippon Hōsō Kyōkai ) , also known by its romanized initialism NHK ,

4559-469: The United States. Jeffrey Spector, a real-estate analyst at UBS , said that in markets with apartment buildings that compete with Archstone, "there is no question that if you need to sell assets, you will try to get ahead" of the Lehman selloff, adding "Every day that goes by there will be more pressure on pricing." Several money funds and institutional cash funds had significant exposure to Lehman with

4656-422: The areas of NHK operations. The executive board reports to the board of governors. It maintains three radio stations available nationwide: All of them can also be tuned through the Internet, within the national territory. It manages two open signal channels through digital terrestrial television. Since Japan has a television network system, it schedules territorial disconnections in each of its centers. However,

4753-535: The bank's rapid failure. Bank of America's rumored involvement also appeared to end as federal regulators resisted its request for government involvement in Lehman's sale. By Sunday, September 14, after the Barclays deal fell through, the news of impending doom swept through Lehman, and many employees arrived at the headquarters to clean out their offices. By Sunday afternoon, the government summoned Harvey Miller of Weil, Gotshal & Manges to file for bankruptcy before

4850-457: The bankruptcy case of the parent company, and its portfolio management, research and operating functions remain intact. In addition, fully paid securities of customers of Neuberger Berman are segregated from the assets of Lehman Brothers and aren't subject to the claims of Lehman Brothers Holdings' creditors, Lehman said. Just before the collapse of Lehman Brothers, executives at Neuberger Berman sent e-mail memos suggesting, among other things, that

4947-402: The boom, this vulnerable position meant that just a 3–4% decline in the value of its assets would entirely eliminate its book value of equity. Investment banks such as Lehman were not subject to the same regulations applied to depository banks to restrict their risk-taking. In August 2007, Lehman closed its subprime lender , BNC Mortgage, eliminating 1,200 positions in 23 locations, and took

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5044-484: The broadcasting industry" when it comes to using performers who best fit program content and production. The public broadcaster added that it did not fully acknowledge the sexual abuse matter despite various weekly magazine articles about the allegations and a Tokyo High Court ruling in 2004. A few weeks later, NHK announced that it would suspend new contracts with Johnny's performers–including for their annual New Year's Eve television special Kōhaku Uta Gassen –until

5141-520: The business of mortgage origination . In 1997, Lehman bought Colorado-based lender Aurora Loan Services , an Alt-A lender. In 2000, to expand their mortgage origination pipeline, Lehman purchased West Coast subprime mortgage lender BNC Mortgage LLC . Lehman quickly became a force in the subprime market . By 2003 Lehman made $ 18.2 billion in loans and ranked third in lending. By 2004, this number topped $ 40 billion. By 2006, Aurora and BNC were lending almost $ 50 billion per month. Lehman had morphed into

5238-545: The city had invested in HK$ 15.7 billion of "guaranteed mini-bonds " (迷你債券) from Lehman. Many claimed that banks and brokers mis-sold them as low-risk. However, bankers noted that the minibonds are indeed low-risk instruments since they were backed by Lehman Brothers, which until just months before its collapse was a venerable member of Wall Street with high credit and investment ratings, and many banks accepted minibonds as collateral for loans and credit facilities. Another HK$ 3 billion

5335-701: The company acquired the London-based communications consultancy Financial Dynamics ("FD"). FD is now referred to as the Strategic Communications Division of FTI. In 2007, FTI expanded into Latin America and reported US$ 1 billion in annual revenue for the first time. In 2008, FTI purchased the Schonbraun McCann Group, a real estate consulting firm based in New York , and Forensic Accounting,

5432-479: The company has implemented compensation and recurrence prevention measures. In February 2024, the company announced a strict policy of terminating the appearance of talents formerly affiliated with Johnny & Associates on its programs and not allowing them to appear on new programs after FY2024. In October 2024, NHK Chairman Nobuo Inaba announced at a regular press conference that, he had confirmed efforts of Smile-Up to compensate victims and prevent recurrence and

5529-501: The company's possible sale. The New York Times reported on September 14, 2008, that Barclays had ended its bid to purchase all or part of Lehman and a deal to rescue the bank from liquidation collapsed. It emerged subsequently that a deal had been vetoed by the Bank of England and the UK's Financial Services Authority . Leaders of major Wall Street banks continued to meet late that day to prevent

5626-408: The conference modulator. Their concern about some reporters who would spend long periods talking about their own opinions or ask thoughtless questions (or remarks) that could be unnecessarily stressful and painful to the victims watching the press conference was given as a reason to prepare the list. FTI told the press that their press conference policy was confirmed with the talent agency. On whether it

5723-448: The days following the attacks on September 11, 2001. This drop was exceeded by a 6.98% plunge on September 29, 2008. Lehman's bankruptcy was expected to cause some depreciation in the price of commercial real estate. The prospect for Lehman's $ 4.3 billion in mortgage securities getting liquidated sparked a selloff in the commercial mortgage-backed securities (CMBS) market. Additional pressure to sell securities in commercial real estate

5820-552: The documentary should be removed. Some activists were concerned that the misinformation was spread by NHK to silence those who opposed the Tokyo Olympics during the pandemic. NHK denied that the footage was deliberately fabricated to mislead the public. On 13 January 2022, the NHK Osaka director Terunobu Maeda apologized during a press conference, admitting that the captions "should not have been included". Once again, he denied that

5917-603: The end of April, its members would freeze their licence fee payments for half a year. While Momii did not resign, he was not reappointed and retired after serving only one term of three years. On 17 October 2014, The Times claimed to have received internal NHK documents which banned any reference to the Nanjing Massacre , to Japan's use of wartime sex slaves during World War II, and to its territorial dispute with China in its English-language broadcasting. On 10 June 2020, NHK apologized and took down an 80-second video about

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6014-413: The entire capitalization spectrum, as well as new investment categories, such as international, real-estate investment trusts and high-yield investments. In addition, with the creation of a nationally and several state-chartered trust companies, the firm became able to offer trust and fiduciary services. In 2016, the firm had approximately $ 246 billion in assets under management . In October 1999,

6111-580: The firm conducted an initial public offering of its shares and commenced trading on the New York Stock Exchange , under the ticker symbol "NEU". In July 2003, shortly after the retired Mr. Neuberger's 100th birthday, the company announced that it was in merger discussions with Lehman Brothers Holdings Inc. These discussions ultimately resulted in the firm's acquisition by Lehman on October 31, 2003, for approximately $ 2.63 billion in cash and securities. On November 20, 2006, Lehman announced its Neuberger Berman subsidiary would acquire H. A. Schupf & Co.,

6208-415: The firm for financing. In an attempt to meet their own credit needs, Lehman Brothers International routinely re-hypothecated the assets of their hedge funds clients that utilized their prime brokerage services. Lehman Brothers International held close to $ 40 billion of clients assets when it filed for Chapter 11 Bankruptcy. Of this, $ 22 billion had been re-hypothecated. As administrators took charge of

6305-489: The firm's growth mirrored that of the asset-management industry as a whole. In 1950, it introduced one of the first no-load mutual funds in the United States, the Guardian Fund , and also began to manage the assets of pension plans and other institutions. Historically known for its value-investing style, in the 1990s the firm began to diversify its competencies to include additional value and growth investing , across

6402-514: The first half of 2008 alone, Lehman stock lost 73% of its value as the credit market continued to tighten. In August 2008, Lehman reported that it intended to lay-off 6% of its work force, 1,500 people, just ahead of its third-quarter-reporting deadline in September. On August 22, shares in Lehman closed up 5% (16% for the week) on reports that the state-controlled Korea Development Bank was considering buying Lehman. Most of those gains were quickly eroded as news emerged that Korea Development Bank

6499-569: The formation of the NHK Party ( NHK党 , NHK tō ) , also known as N-Koku ( N国 ) , a single-issue political party , which has protested this fee with representatives in the upper house . NHK broadcasts a variety of programming. NHK offers local, national, and world news reports. NHK News 7 airs daily and is broadcast bilingually with both Japanese and English audio tracks on NHK General TV and NHK's international channels TV Japan and NHK World Premium . The flagship news program News Watch 9

6596-512: The grounds they had all been appointed by his predecessor. A number of civil society groups protested against Momii's continued tenure as Director-General of NHK. On 27 January 2014, the Viewers' Community to Observe and Encourage NHK ( NHKを監視・激励する視聴者コミュニティ ) issued a public letter calling for Momii's resignation on the grounds that the remarks he made at his inaugural press conference were explosive. The letter stated that if Momii did not resign by

6693-506: The hour except during live sports events. NHK also offers news for the deaf (which airs on NHK Educational TV), regional news (which airs on NHK General TV) and children's news. Newsline is an English-language newscast designed for foreign viewers and airs on NHK World . In his book Broadcasting Politics in Japan: NHK and Television News , Ellis S. Krauss states: 'In the 1960s and 1970s, external critics of NHK news were complaining about

6790-433: The incident was a fabrication. In December 2023, Japan's Broadcasting Ethics and Program Improvement Organization (BPO) concluded that NHK had breached broadcasting ethics in its "News Watch 9" program, where people believed to have died from COVID-19 vaccine injury were treated as if they had died from COVID-19. Regarding the incident as an inappropriate way of reporting, NHK stated that it would take measures to avoid

6887-577: The institutional cash fund run by The Bank of New York Mellon and the Reserve Primary Fund, a money market fund , both falling below $ 1 per share, called " breaking the buck ", following losses on their holdings of Lehman assets. In a statement The Bank of New York Mellon said its fund had isolated the Lehman assets in a separate structure. It said the assets accounted for 1.13% of its fund. The Primary Reserve Fund owned $ 785 million or 1.2 percent of its holdings in Lehman commercial paper. The drop in

6984-399: The issue at that time and chose not to follow up or cover the issue entirely. In addition, they stated that they failed in their role as a news media organization, and simply sat idle as many minors became sexual abuse victims. On 8 September, 2023, NHK , said in a statement that they took the matter seriously, and that they would "work harder to ensure that human rights are more respected in

7081-601: The leadership of Count Gotō Shinpei . Tokyo Broadcasting Station, along with separate organizations in Osaka and Nagoya , began radio broadcasts in 1925. The three stations merged under the first incarnation of NHK in August 1926. NHK was modelled on the BBC of the United Kingdom , and the merger and reorganisation was carried out under the auspices of the pre-war Ministry of Communications . NHK's second radio network began in 1931, and

7178-550: The markets opened on Monday. Lehman Brothers filed for Chapter 11 bankruptcy protection on Monday, September 15, 2008. According to Bloomberg , reports filed with the U.S. Bankruptcy Court, Southern District of New York (Manhattan) on September 16 indicated that JPMorgan Chase & Co. provided Lehman Brothers with a total of $ 138 billion in "Federal Reserve-backed advances". The "Federal Reserve-backed advances" as provided by JPMorgan Chase were for $ 87 billion on September 15 and $ 51 billion on September 16. The filing remains

7275-499: The name as a subsidiary. FTI acquired Ringtail Solutions Group in 2005. Ringtail's signature product, the Ringtail Discovery Software Suite, provides e-discovery and document management tools to assist corporations and law firms during litigation engagements. FTI acquired Attenex Corporation in 2008 and merged Attenex Patterns with Ringtail Discovery Software Suite to form Ringtail 8 E-discovery Software. In 2006,

7372-1121: The orchestra's history and ongoing concert programme. Since 1953, NHK has broadcast the Kōhaku Uta Gassen song contest on New Year's Eve, ending shortly before midnight in PIX System . A sentimental morning show , a weekly jidaigeki and a year-long show, the Taiga drama , spearhead the network's fiction offerings. NHK is also making efforts at broadcasting dramas made in foreign countries as overseas drama ( 海外ドラマ , Kaigai Dorama ) . The longest running children's show in Japan, Okaasan to Issho ( おかあさんといっしょ , With Mother ) , started broadcasting in 1959 and still airs to this day Monday to Friday at 17:36–18:00  JST , Sunday at 17:30–17:54 JST, with rebroadcasts Tuesday to Sunday at 5:00–5:24 JST on NHK World Premium. In 2007, three employees of NHK were fined and fired for insider trading . They had profited by trading shares based on exclusive NHK knowledge. On 11 July 2008, NHK introduced

7469-582: The passing of the 2002 Sarbanes-Oxley Act , which excluded auditors from providing consulting work to their public clients. FTI Consulting purchased PricewaterhouseCoopers ' U.S. Business Recovery Services Division ("BRS") for $ 250 million in 2002, which at the time was the largest provider of bankruptcy, turnaround, and business restructuring services in the United States . The company purchased KPMG 's Dispute Advisory Services in 2003. The company purchased Chicago-based Compass Lexecon in 2003, maintaining

7566-478: The past eight years. Despite Fuld's defense on his high pay, Lehman Brothers executive pay was reported to have increased significantly before filing for bankruptcy. On October 17, 2008, CNBC reported that several Lehman executives, including Richard Fuld, had been subpoenaed in a case relating to securities fraud. In March 2010, the report of Anton R. Valukas , the Bankruptcy Examiner, drew attention to

7663-630: The real estate components of the deal would be $ 1.29 billion, including $ 960 million for Lehman's New York headquarters and $ 330 million for two New Jersey data centers. Further, Barclays will not acquire Lehman's Eagle Energy unit, but will have entities known as Lehman Brothers Canada Inc, Lehman Brothers Sudamerica, Lehman Brothers Uruguay and its Private Investment Management business for high-net-worth individuals. Finally, Lehman will retain $ 20 billion of securities assets in Lehman Brothers Inc that are not being transferred to Barclays." Barclays had

7760-459: The same day, on investors' concerns about the security of the bank. The U.S. government did not announce any plans to assist with any possible financial crisis that emerged at Lehman. On September 10, Lehman announced a loss of $ 3.9 billion and their intent to sell off a majority stake in their investment-management business, which included Neuberger Berman . The stock slid 7% that day. On September 12, Timothy F. Geithner , then president of

7857-471: The separation of management from Starto Entertainment is steadily progressing, and that requests to perform–including Kōhaku Uta Gassen for current Starto celebrities would resume. Commercial broadcasters had already announced on the resumption of new appointments to celebrities belonging to Starto. NHK's earliest forerunner was the Tokyo Broadcasting Station ( 東京放送局 ) , founded in 1924 under

7954-643: The strict neutrality, the lack of criticism of the government, and the 'self-regulation in covering events'. Krauss claims that little had changed by the 1980s and 1990s. After the Fukushima nuclear disaster in 2011, NHK was criticised for underplaying the dangers from radioactive contamination . Under the Broadcasting Act, NHK is under the obligation to broadcast early warning emergency reporting in times of natural disasters such as earthquakes and tsunamis . Their national network of seismometers in cooperation with

8051-507: The third radio network (FM) began in 1937. NHK began shortwave broadcasting on an experimental basis in the 1930s, and began regular English- and Japanese-language shortwave broadcasts in 1935 under the name Radio Japan , initially aimed at ethnic Japanese listeners in Hawaii and the west coast of North America . By the late 1930s, NHK's overseas broadcasts were known as Radio Tokyo , which became an official name in 1941. In November 1941,

8148-408: The underlying mortgages. Whether Lehman did this because it was simply unable to sell the lower-rated bonds or made a conscious decision to hold them is unclear. In any event, huge losses accrued in lower-rated mortgage-backed securities throughout 2008. In the second fiscal quarter, Lehman reported losses of $ 2.8 billion and decided to raise $ 6 billion in additional capital by offering new shares. In

8245-452: The use of Repo 105 transactions to boost the bank's apparent financial position around the date of the year-end balance sheet . The New York attorney general Andrew Cuomo later filed charges against the bank's auditors Ernst & Young in December 2010, alleging that the firm "substantially assisted... a massive accounting fraud" by approving the accounting treatment. On April 12, 2010,

8342-505: The water at Neuberger Berman. I'm embarrassed and I apologize." Richard Fuld , head of Lehman Brothers, faced questioning from the U.S. House of Representatives ' Committee on Oversight and Government Reform . Rep. Henry Waxman (D-CA) asked: "Your company is now bankrupt, our economy is in crisis, but you get to keep $ 480 million (£276 million). I have a very basic question for you, is this fair?" Fuld said that he had in fact taken about $ 300 million (£173 million) in pay and bonuses over

8439-892: The world’s top 100 law firms as ranked by The American Lawyer Global 100 list, 83 out of the Fortune 100 companies, 64 of the top 100 private equity firms on the Private Equity International 300 list and 38 out of the world’s top 50 bank holding companies. In addition, they also serve a broad range of federal, state and local government agencies. Forensic Technologies International was founded in 1982 by two engineers, Joseph Reynolds and Daniel Luczak, to provide expert witnesses for litigation and visual presentations to demonstrate complex technical issues for juries. Luczak later served as FTI's chairman from 1992 to 1998. The company went public in May 1996, raising $ 11.1 million and debuting at $ 8.50

8536-427: The years leading to its bankruptcy in 2008, a process known as leveraging or gearing. A significant portion of this investment was in housing-related assets, making it vulnerable to a downturn in that market. One measure of this risk-taking was its leverage ratio, a measure of the ratio of assets to owners equity, which increased from approximately 24:1 in 2003 to 31:1 by 2007. While generating tremendous profits during

8633-468: Was "facing difficulties pleasing regulators and attracting partners for the deal." It culminated on September 9, when Lehman's shares plunged 45% to $ 7.79, after it was reported that the state-run South Korean firm had put talks on hold. Investor confidence continued to erode as Lehman's stock lost roughly half its value and pushed the S&;P 500 down 3.4% on September 9. The Dow Jones lost nearly 300 points

8730-463: Was a counterparty to mortgage financier Freddie Mac in unsecured lending transactions that matured on September 15, 2008. Freddie said it had not received principal payments of $ 1.2 billion plus accrued interest. Freddie said it had further potential exposure to Lehman of about $ 400 million related to the servicing of single-family home loans, including repurchasing obligations. Freddie also said it "does not know whether and to what extent it will sustain

8827-446: Was approved. Manhattan court bankruptcy judge James Peck, after a seven-hour hearing, ruled: "I have to approve this transaction because it is the only available transaction. Lehman Brothers became a victim, in effect the only true icon to fall in a tsunami that has befallen the credit markets. This is the most momentous bankruptcy hearing I've ever sat through. It can never be deemed precedent for future cases. It's hard for me to imagine

8924-496: Was enacted in 1950, which made NHK a listener-supported independent corporation and simultaneously opened the market for commercial broadcasting in Japan. NHK started television broadcasting in 1953, followed by its educational TV channel in 1959 and color television broadcasts in 1960. NHK opened the first stage of its current headquarters in Japan's capital city 's special ward Shibuya as an international broadcasting center for

9021-417: Was feared as Lehman got closer to liquidating its assets. Apartment-building investors were also expected to feel pressure to sell as Lehman unloaded its debt and equity pieces of the $ 22 billion purchase of Archstone , the third-largest United States real estate investment trust (REIT). Archstone's core business was the ownership and management of residential apartment buildings in major metropolitan areas of

9118-535: Was invested in similar products, including derivatives. The Hong Kong government proposed a plan to buy back the investments at their current estimated value, which would allow investors to partially recover some of their loss by the end of the year. HK chief executive Donald Tsang insisted the local banks respond swiftly to the government buy-back proposal as the Monetary Authority received more than 16,000 complaints. On October 17, He Guangbe, chairman of

9215-514: Was named the firm's new president and chief executive officer . In 2015, The Deal named FTI Consulting the world's top restructuring adviser to distressed companies. In 2017, the company acquired the CDG Group, a leading restructuring advisory, turnaround management, value enhancement, and transaction advisory firm in New York. In 2023, the company was hired by Johnny & Associates to manage

9312-817: Was rebranded while BS 2 channel ceased broadcasting and was replaced by "BS Premium" which broadcasts on the channel formerly used by BShi. International satellite broadcasts to North America and Europe began in 1995, which led to the launch of NHK World in 1998. It became free-to-air over the Astra 19.2°E ( Astra 1L ) and Eurobird satellites in Europe in 2008. NHK began digital television broadcasting in December 2000 through BS Digital, followed by terrestrial digital TV broadcasts in three major metropolitan areas in 2003. NHK's digital television coverage gradually expanded to cover almost all of Japan by 24 July 2011, when analog transmissions were discontinued & ended (except in three prefectures that were heavily affected by

9409-574: Was selected by the IOC in 2018 to cover Japanese reactions to the event and later during the COVID-19 pandemic . Footage and captions in the documentary alleged that protesters were being paid money to attend anti-Olympics rallies. One of the men interviewed later stated he was "unsure" if he had actually attended any anti-Olympics rallies. NHK Osaka cited "editorial oversights" and "deficiencies in research", issuing an apology. Some anti-Olympic activists demanded that

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