Filed under: Management, Lehman Br Holdings (LEH)

Lehman Bros. (NYSE: LEH), the once-proud investment banking firm that’s seen its stock tumble from $74 to under $13 in the past year, has a solution to its problems: bring back the investor relations person who was the company’s mouthpiece back when investors didn’t know about the huge unchecked risks Lehman was taking.

Shaun Butler had run investors relations for the company since it went public in 1994 before retiring at the beginning of February, according (subscription required) to The Wall Street Journal.

It’s not a material change, and there’s probably nothing much to be read into it. Lehman is reportedly not in desperate need of more cash (although they also said that about Bear Stearns) and is considering a share buyback to boost its stock price. The company appears to see its problems as more perception related than operational, and obviously believes that bringing back a familiar face and voice will ease investors’ nerves.

MarketWatch has reported that the company is unlikely to be able to find a buyer because most banks have their own issues to deal with. So it looks like Lehman will have to win back the street on its own.

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This entry was posted on Wednesday, July 16th, 2008 at 6:15 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.