Daftar 99 wanita paling berpengaruh di Indonesia

Berikut adalah daftar 99 wanita paling berpengaruh di Indonesia versi majalah Globe Asia bulan Oktober 2007

Megawati Sukarnoputri - mantan Presiden Indonesia
Sri Mulyani Indrawati - Menteri Keuangan Indonesia
Kristiani Herawati Yudhoyono - Ibu Negara Indonesia
Miranda Gultom - Deputi Gubernur Senior Bank Indonesia
Siti Hartati Murdaya - Pengusaha, politisi
Mari Elka Pangestu - Menteri Perdagangan Indonesia
Mooryati Soedibyo - Pengusaha, politisi
Kartini Mulyadi - Pengusaha
Itjih Nursalim - Pengusaha
Yanti Sukamdani - Ketua Asosiasi Perhotelan
Butet Manurung - Pekerja sosial
Yenny Wahid - Direktur Wahid Institute
Melinda Tedja - Pengusaha
Shanti Soedarpo - Pengusaha
Erna Witoelar - Ketua MDGs Indonesia
Siti Fadilah - Menteri Kesehatan Indonesia
Fatimah Kalla - Pengusaha
Meutia Hatta - Menteri Urusan Wanita Indonesia
Khofifah Indar Parawansa - Politisi
Dewi Fortuna Anwar - Peneliti Internasional di LIPI
Viven G. Sitiabudi - Eksekutif bisnis
Sinta Nuriyah Abdurrahman Wahid - Aktivis persamaan jender
Suciwati - Aktivis HAM
Rina Ciputra - Pengusaha
Ratu Atut Chosiyah - Gubernur Banten
Herelina Candinegara - Pengusaha
Ratna Maida Ning - Pengusaha
Nani Wijaya - Direktur Jawa Pos Group
Dian Soedarjo - Pengusaha
Pia Alisjahbana - Pengusaha, Jurnalis
Krisdayanti - Artis
Kanjeng Ratu Hemas - Istri Sultan Yogyakarta
Yani Panigoro - Pengusaha, Insinyur sosial
Martha Tilaar - Pengusaha
Orie Andari Sutadji - Presiden direktur PT. Asuransi Kesehatan (Askes)
Siti Hardijanti Rukmana - Pengusaha
Christine Hakim - Artis, Aktris
Sukmawati Widjaja - Pengusaha, Socialite
Agnes Monica - Artis
Marwah Daud Ibrahim - Politisi
Titik Puspa - Pengusaha, Artis
Emmy Hafild - Walhi & Transparency International
Wardah Hafidz - Ketua UPC
Sri Indrastuti Hadiputranto - Pengacara
Rini Soemarno - Pengusaha
Roosniati Salihin - Deputi Direktur Panin Bank
Giwo Rubianto - Ketua Komisi Perlindungan Anak
Koesmariharti - Regulator Telekomunikasi
Rita Subowo - Ketua KONI
Dita Indah Sari - Aktivis Buruh
Nursyahbani Katjasungkana - Aktivis persamaan jender, politisi
Siti Fadjriah - Deputi gubernur Bank Indonesia
Rustriningsih - Bupati Kebumen
Winny Hasan - Presiden direktur Bank DKI
Maria Lukito - Penerbit Indonesian Tatler
Catherine Hambali - Pengusaha
Eva Rianti Hutapea - Pengusaha
Suryani Motik - Pengusaha
Ratna Ani Lestari - Bupati Banyuwangi
SK Trimurti - Jurnalis senior
Lily Kasoem - Pengusaha
Harkristuti Harkrisnowo - Direktur jenderal Hukum
Tri Mumpuni - Aktivis
Susi Darmawan - Pengusaha
Inke Marris - Konsultan publik
Lily Widjaja - Banker
Non Rawung - Pengusaha
Husniah Rubiana Thamrin - Ketua Dinas Makanan dan Obat-obatan
Obin - Desainer pakaian
Betti Alisjahbana - Presiden direktur IBM Indonesia
Melsiana Tjahyadikarta - Pengusaha
Shinta Kamdani - Pengusaha
Lie Phing - Pengusaha
Nia Dinata - Sutradara, pembuat film
Ratna Sarumpaet - Sutradara
Gadis Arivia - Feminis
Felia Salim - Aktivis
Lisa Tirto Utomo - Pengusaha
Puan Maharani - Aktivis
Dyah Maulida - Direktur jenderal Perdagangan Asing
Siti Nurbaya - Sekretaris Jenderal Dewan Pembangunan Daerah
Herawati Diah - Jurnalis
Retno Iswari Tranggono - Pengusaha
Kemala Chandrakirana - Ketua Komnas Perempuan
Baby Jim Aditya - Aktivis Anti AIDS/HIV
Dewi Motik - Pengusaha
Poppy Dharsono - Pengusaha, Desainer pakaian
Nunun Nurbaetje Daradjatun - Pengusaha
Mira Lesmana - Sutradara
Maggie Liem - Retailer pakaian
Tri Sudwikatmono - Pengusaha
Titi Said - Ketua Badan Sensor Film
Shally Bachtiar - Pengusaha
Sandra Ang - Pengusaha
Saparinah Sadli - Psikologis
Retnowati Abdulgani-Knapp - Pengarang
Rosianna Silalahi - Editor Liputan 6 SCTV
Mien Uno - Pelatih motivasional
Veronica Colondam - Aktivis sosial YCAB
Referensi
Globe Asia: "Megawati Sukarnoputri tops GlobeAsia's List of 99 Most Powerful Women"
Diperoleh dari "http://id.wikipedia.org/wiki/Daftar_99_wanita_paling_berpengaruh_di_Indonesia"

A list of companies, governmental and quasi-governmental agencies (GSEs), and/or non-profit organizations involved in the various economic and financi

A list of companies, governmental and quasi-governmental agencies (GSEs), and/or non-profit organizations involved in the various economic and financial crises of 2007-2008.

Contents
[hide]
1 Housing Bubble
1.1 United States
1.1.1 National Builders
1.1.2 Real estate and appraisal
1.1.3 Associations
2 Mortgage crisis
2.1 Subprime lenders
2.2 Other lenders
2.3 Insurers
3 Secondary and securitized mortgage market
3.1 Banks
3.2 Governmental and quasi-governmental
3.2.1 Central Banks
3.3 Credit rating agencies
3.3.1 Government sponsored enterprises
4 Nonprofit Organization
4.1 Community Organization
4.2 Credit Counselors
5 References



[edit] Housing Bubble

[edit] United States
Main article: United States housing bubble

[edit] National Builders
Beazer Homes USA
Hovnanian Enterprises
Lennar Corporation
KB Home
NVR
Pulte Homes
Toll Brothers

[edit] Real estate and appraisal
Coldwell Banker
Prudential Real Estate

[edit] Associations
American Society of Appraisers
Appraisal Institute
National Association of Home Builders
National Association of Realtors
Real Estate Counseling Group of America
Urban Land Institute

[edit] Mortgage crisis
Main article: Subprime mortgage crisis

[edit] Subprime lenders
New Century Financial Corporation
American Home Mortgage Investment Corporation
Accredited Home Lenders
Countrywide Financial
Northern Rock (UK)
Ameriquest
E*TRADE
Option One
American Freedom Mortgage, Inc.

[edit] Other lenders
Washington Mutual
Suntrust
Luminent Mortgage Capital
Aegis Wholesale
1st National Bank of Arizona
GreenPoint Mortgage Funding
Velocity Commercial Lender
Fremont Investment & Loan
ResMAE Mortgage Corp
Americans Brokers Conduit
IndyMac Bank

[edit] Insurers
AIG
Ambac
MBIA
Mortgage Guaranty Insurance Corporation

[edit] Secondary and securitized mortgage market
Main article: Secondary mortgage market

[edit] Banks
Main article: List of bankrupt or acquired banks during the subprime mortgage crisis
BNP Paribas, [1], France
JPMorgan Chase, USA
Citigroup, USA
Credit Suisse, Switzerland
Deutsche Bank, Germany
IKB Industriekredit-Bank, Germany
Bear Stearns
Sächsische Landesbank, Germany
Goldman Sachs
Lehman Brothers
Bank of America
Wachovia
Netbank, USA
Banca March, Spain
UBS AG, Switzerland
Northern Rock, UK
HBOS, UK
Merrill Lynch .[2], USA

[edit] Governmental and quasi-governmental
United States Department of the Treasury
U.S. Securities and Exchange Commission
Federal Housing Finance Agency
State of California

[edit] Central Banks
Federal Reserve Bank
Federal Reserve Bank of New York
European Central Bank
Bank of Japan
Central Bank of Russia

[edit] Credit rating agencies
Moody's
Standard & Poor's
Fitch Ratings

[edit] Government sponsored enterprises
Main article: government sponsored enterprise
Fannie Mae, Federal National Mortgage Association
Freddie Mac, Federal Home Loan Mortgage Corporation

[edit] Nonprofit Organization

[edit] Community Organization
ACORN Association of Community Organizations for Reform Now

[edit] Credit Counselors
Hope Now Alliance
This list is incomplete; you can help by expanding it.

[edit] References
^ BNP Paribas Investment Partners temporally suspends the calculation of the Net Asset Value of the following funds: Parvest Dynamic ABS, BNP Paribas ABS EURIBOR and BNP Paribas ABS EONIA
^ "AM - Subprime slump claims Merrill Lynch chief" (HTML). ABC, Australia.
[hide]v • d • eFinancial crisis of 2007-2008

Main issues Subprime mortgage crisis (timeline) · List of writedowns · Bankrupt or acquired banks · Economic crisis of 2008 · January 2008 stock market volatility · 2008 Russian financial crisis · Global stock market crash of September 2008

Major events Bankruptcy of Lehman Brothers · Federal takeover of Fannie Mae and Freddie Mac

Companies List of entities involved in 2007-2008 financial crises

Related events United States housing market correction · 2007–2008 world food price crisis · 2000s energy crisis · 2008 Central Asia energy crisis

Key terms Credit crunch (credit crisis) · Economic bubble · Financial contagion - Financial crisis · Liquidity crisis

Lehman Brothers Holdings Inc.

Type Public (Pink Sheets: LEHMQ)
Founded Montgomery, Alabama, United States (1850)
Founder Henry Lehman
Emanuel Lehman
Mayer Lehman
Headquarters New York City, New York, United States
Area served Worldwide
Key people Richard S. Fuld, Jr.
(Chairman) & (Chief Executive Officer)[1]
Industry Investment services
Products Financial Services
Investment Banking
Investment management
Market cap US$130 Million (As of September 15, 2008)
Revenue ▲ US$59.003 Billion (2007)
Operating income ▲ US$6.013 Billion (2007)
Net income ▼ US$6.7 Billion (2008)
Total assets ▲ US$691.063 Billion (2007)
Total equity ▲ US$22.490 Billion (2007)
Employees 26,200 (2008)
Website Lehman.com

Lehman Brothers Holdings Inc. (Pink Sheets: LEHMQ) (pronounced IPA: /ˈliːmən/) is a global financial-services firm. The firm does business in investment banking, equity and fixed-income sales, research and trading, investment management, private equity, and private banking. It is a primary dealer in the U.S. Treasury securities market. Its primary subsidiaries include Lehman Brothers Inc., Neuberger Berman Inc., Aurora Loan Services, Inc., SIB Mortgage Corporation, Lehman Brothers Bank, FSB, Eagle Energy Partners, and the Crossroads Group. The firm's worldwide headquarters are in New York City, with regional headquarters in London, England, and Tokyo, Japan, as well as offices located throughout the world.

On September 15 2008, it filed for Chapter 11 bankruptcy protection; the filing marks the largest bankruptcy in U.S. history.[2] The following day, Barclays plc announced its agreement to purchase, subject to regulatory approval, Lehman's investment-banking and trading divisions along with its New York headquarters building.[3][4]

Contents
[hide]
1 History
1.1 Under the Lehman family, 1850–1969
1.2 Merger with American Express (1969–94)
1.3 Divestment and independence (1994–present)
1.4 Response to September 11 terrorist attacks
1.5 2003 SEC litigation
1.6 Subprime mortgage crisis
1.7 Bankruptcy
1.8 Revised deal and judgment
2 Board of Directors
3 References
3.1 Further reading
4 External links



[edit] History

[edit] Under the Lehman family, 1850–1969
In 1844, 23-year-old Henry Lehman,[5] the son of a cattle merchant, emigrated to the United States from Rimpar, Bavaria.[6] He settled in Montgomery, Alabama,[5] where he opened a dry-goods store, "H. Lehman".[7] In 1847, following the arrival of Emanuel Lehman, the firm became "H. Lehman and Bro." [8] With the arrival of their youngest brother, Mayer Lehman, in 1850, the firm changed its name again and "Lehman Brothers" was founded.[7][9]

In the 1850s Southern United States, cotton was one of the most important crops. Capitalizing on cotton's high market value, the three brothers began to routinely accept raw cotton from customers as payment for merchandise, eventually beginning a second business trading in cotton. Within a few years this business grew to become the most significant part of their operation. Following Henry's death from yellow fever in 1855,[7][10] the remaining brothers continued to focus on their commodities-trading/brokerage operations.


Emanuel and Mayer LehmanBy 1858, the center of cotton trading had shifted from the South to New York City, where factors and commission houses were based. Lehman opened its first branch office in New York City's Manhattan borough at 119 Liberty Street,[10] and 32-year-old Emanuel relocated there to run the office.[7] In 1862, facing difficulties as a result of the Civil War, the firm teamed up with a cotton merchant named John Durr to form Lehman, Durr & Co.[11][12] Following the war the company helped finance Alabama's reconstruction. The firm's headquarters were eventually moved to New York City, where it helped found the New York Cotton Exchange in 1870;[10][13] Emanuel sat on the Board of Governors until 1884. The firm also dealt in the emerging market for railroad bonds and entered the financial-advisory business.

Lehman became a member of the Coffee Exchange as early as 1883 and finally the New York Stock Exchange in 1887.[10][13] In 1899, it underwrote its first public offering, the preferred and common stock of the International Steam Pump Company.

Despite the offering of International Steam, the firm's real shift from being a commodities house to a house of issue did not begin until 1906. In that year, under Philip Lehman, the firm partnered with Goldman, Sachs & Co.,[14][15] to bring the General Cigar Co. to market,[16] followed closely by Sears, Roebuck and Company [16]. During the following two decades, almost one hundred new issues were underwritten by Lehman, many times in conjunction with Goldman, Sachs. Among these were F.W. Woolworth Company,[17][16] May Department Stores Company, Gimbel Brothers, Inc.,[18] R.H. Macy & Company,[18] The Studebaker Corporation,[17] the B.F. Goodrich Co. and Endicott Johnson Corporation.


Herbert H. Lehman
Official U.S. Senate PhotoFollowing Philip Lehman's retirement in 1925, his son Robert "Bobbie" Lehman took over as head of the firm. During Bobbie's tenure, the company weathered the capital crisis of the Great Depression by focusing on venture capital while the equities market recovered. By 1928, the firm moved to its now famous One William Street location.

Traditionally, a family-only partnership, in 1924 John M. Hancock became the first non-family member to join the firm,[14][19] followed by Monroe C. Gutman and Paul Mazur in 1927.

In the 1930s, Lehman underwrote the initial public offering of the first television manufacturer, DuMont, and helped fund the Radio Corporation of America (RCA).[20] It also helped finance the rapidly growing oil industry, including the companies Halliburton and Kerr-McGee.


Pete PetersonIn the 1950s, Lehman underwrote the IPO of Digital Equipment Corporation. Later, it arranged the acquisition of Digital by Compaq. Robert Lehman died in 1969,[21] and since that time, no member of the Lehman family has led the company. Robert's death left a void in the company, which, coupled with a difficult economic environment, brought hard times to the firm. In 1973, Pete Peterson, Chairman and Chief Executive Officer of the Bell & Howell Corporation, was brought in to save the firm.[21]

[edit] Merger with American Express (1969–94)
Under Peterson's leadership as Chairman and CEO, the firm acquired Abraham & Co. in 1975, and two years later merged with the venerable, but struggling, Kuhn, Loeb & Co. [21], to form Lehman Brothers, Kuhn, Loeb Inc., the country's fourth-largest investment bank, behind Salomon Brothers, Goldman Sachs and First Boston. [22] Peterson led the firm from significant operating losses to five consecutive years of record profits with a return on equity among the highest in the investment-banking industry.


Shearson Lehman/American Express LogoHowever, hostilities between the firm's investment bankers and traders (who were driving most of the firm's profits) prompted Peterson to promote Lewis Glucksman, the firm's President, COO and former trader, to be his co-CEO in May 1983. Glucksman introduced a number of changes that had the effect of increasing tensions, which when coupled with Glucksman’s management style and a downturn in the markets, resulted in a power struggle that ousted Peterson and left Glucksman as the sole CEO.[23] ,

Upset bankers, who had soured over the power struggle, left the company. Steve Schwarzman, chairman of the firm's M&A committee, recalled in a February 2003 interview with Private Equity International that "Lehman Brothers had an extremely competitive internal environment, which ultimately became dysfunctional." The company suffered under the disintegration, and Glucksman was pressured into selling the firm to Shearson, an American Express-backed electronic transaction company, in 1984, for $360 million. On May 11, the combined firms became Shearson Lehman/American Express.[23] In 1988, Shearson Lehman/American Express and E.F. Hutton & Co. merged as Shearson Lehman Hutton Inc. [24]


[edit] Divestment and independence (1994–present)
In 1993, under newly appointed CEO, Harvey Golub, American Express began to divest itself of its banking and brokerage operations. It sold its retail brokerage and asset management operations to Primerica[25] and in 1994 it spun off Lehman Brothers Kuhn Loeb in an initial public offering, as Lehman Brothers Holdings, Inc. [26]

Despite rumors that it would be acquired again, Lehman performed quite well under CEO Richard S. Fuld, Jr.. In 2001, the firm acquired the private-client services, or "PCS", business of Cowen & Co. [27] and later, in 2003, aggressively re-entered the asset-management business, which it had exited in 1989.[28] Beginning with $2 billion in assets under management, the firm acquired the Crossroads Group, the fixed-income division of Lincoln Capital Management[28] and Neuberger Berman [29]. These businesses, together with the PCS business and Lehman's private-equity business, comprised the Investment Management Division, which generated approximately $3.1 billion in net revenue and almost $800 million in pre-tax income in 2007. Prior to going bankrupt, the firm had in excess of $275 billion in assets under management. Altogether, since going public in 1994, the firm had increased net revenues over 600% from $2.73 billion to $19.2 billion and had increased employee headcount over 230% from 8,500 to almost 28,600.


[edit] Response to September 11 terrorist attacks

The New York City headquarters.On September 11, 2001, Lehman occupied three floors of One World Trade Center where one employee was killed. Its global headquarters in Three World Financial Center were severely damaged and rendered unusable by falling debris, displacing over 6,500 employees. The bank recovered quickly and rebuilt its presence. Trading operations moved across the Hudson River to its Jersey City, New Jersey, facilities, where an impromptu trading floor was built and brought online less than forty-eight hours after the attacks. When stock markets reopened on September 17, 2001, Lehman's sales and trading capabilities were restored.

In the ensuing months, the firm fanned out its operations across the New York City metropolitan area in over forty temporary locations. Notably, the investment-banking division converted the first-floor lounges, restaurants, and all 665 guestrooms of the Sheraton Manhattan Hotel into office space. The bank also experimented with flextime (to share office space) and telecommuting via virtual private networking. In October 2001, Lehman purchased a 32-story, 1,050,000-square-foot office building for a reported sum of $700 million. The building, located at 745 Seventh Avenue, had recently been built, and not yet occupied, by rival Morgan Stanley. With Morgan Stanley's world headquarters located only two blocks away at 1585 Broadway, in the wake of the attacks the firm was re-evaluating its office plans which would have put over 10,000 employees in the Times Square area of New York City. Lehman began moving into the new facility in January and finished in March 2002, a move that significantly boosted morale throughout the firm.

The firm was criticized for not moving back to its former headquarters in lower Manhattan. Following the attacks, only Deutsche Bank, Goldman Sachs, and Merrill Lynch of the major firms remained in the downtown area. Lehman, however, points to the facts that it was committed to stay in New York City, that the new headquarters represented an ideal circumstance where the firm was desperate to buy and Morgan Stanley was desperate to sell, that when the new building was purchased, the structural integrity of Three World Financial Center had not yet been given a clean bill of health, and that in any case, the company could not have waited until May 2002 for repairs to Three World Financial Center to conclude.

After the attacks, Lehman's management placed increased emphasis on business continuity planning. Unlike its rivals, the company was unusually concentrated for a bulge-bracket investment bank. For example, Morgan Stanley maintains a 750,000-square-foot trading-and-banking facility in Westchester County, New York. The trading floor of UBS is located in Stamford, Connecticut. Merrill Lynch's asset-management division is located in Plainsboro Township, New Jersey. Aside from its headquarters in Three World Financial Center, Lehman maintained operations-and-backoffice facilities in Jersey City, space that the firm considered leaving prior to 9/11. The space was not only retained, but expanded, including the construction of a backup-trading facility. In addition, telecommuting technology first rolled out in the days following the attacks to allow employees to work from home was expanded and enhanced for general use throughout the firm. [30]


[edit] 2003 SEC litigation
In 2003, the company was one of ten firms which simultaneously entered into a settlement with the U.S. Securities and Exchange Commission (SEC), the Office of the New York State Attorney General and various other securities regulators, regarding undue influence over each firm's research analysts by their investment-banking divisions. Specifically, regulators alleged that the firms had improperly associated analyst compensation with the firms' investment-banking revenues, and promised favorable, market-moving research coverage, in exchange for underwriting opportunities. The settlement, known as the “global settlement”, provided for total financial penalties of $1.4 billion, including $80 million against Lehman, and structural reforms, including a complete separation of investment banking departments from research departments, no analyst compensation, directly or indirectly, from investment-banking revenues, and the provision of free, independent, third-party, research to the firms' clients.


[edit] Subprime mortgage crisis
In August 2007, the firm closed its subprime lender, BNC Mortgage, eliminating 1,200 positions in 23 locations, and took an after-tax charge of $25 million and a $27-million reduction in goodwill. Lehman said that poor market conditions in the mortgage space "necessitated a substantial reduction in its resources and capacity in the subprime space". [31]

In 2008, Lehman faced an unprecedented loss to the continuing subprime mortgage crisis. Lehman's loss was apparently a result of having held on to large positions in subprime and other lower-rated mortgage tranches when securitizing 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 was forced to sell off $6 billion in assets.[32] In the first half of 2008 alone, Lehman stock lost 73% of its value as the credit market continued to tighten.[32] In August 2008, Lehman reported that it intended to release 6% of its work force, 1,500 people, just ahead of its third-quarter-reporting deadline in September.[32]

On August 22 2008, shares in Lehman closed up 5% (16% for the week) on reports that the state-controlled Korea Development Bank was considering buying the bank. [33] Most of those gains were quickly eroded as news came in that Korea Development Bank was "facing difficulties pleasing regulators and attracting partners for the deal."[34] 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.[35]

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 300 points the same day on investors' concerns about the security of the bank.[36] The U.S. government did not announce any plans to assist with any possible financial crisis that emerged at Lehman.[37]

The next day, Lehman announced a loss of $3.9 billion and their intent to sell off a majority stake in their investment-management business, which includes Neuberger Berman.[38][39] The stock slid 7 percent that day.[39][40] Lehman, after earlier rejecting questions on the sale of the company, was reportedly searching for a buyer as its stock price dropped another 40 percent on September 11, 2008.[40]





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[edit] Bankruptcy
This documents a current event.
Information may change rapidly as the event progresses.

Main article: Bankruptcy of Lehman Brothers
Wikinews has related news:
Lehman Brothers files for bankruptcy‎
Lehman Brothers headquarters in New York CityOn September 13, 2008, Timothy F. Geithner, the president of 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.[41] Lehman reported that it had been in talks with Bank of America and Barclays for the company's possible sale.[41] 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.[42] Leaders of major Wall Street banks continued to meet late that day to prevent the bank's rapid failure.[42] Bank of America's rumored involvement also appeared to end as federal regulators resisted its request for government involvement in Lehman's sale.[42]

The International Swaps and Derivatives Association (ISDA) offered an exceptional trading session on Sunday, September 14, 2008, to allow market participants to offset positions in various derivatives on the condition of a Lehman bankruptcy later that day.[43][44] Although the bankruptcy filing missed the deadline, many dealers are honoring the trades they made in the special session.[45]


Lehman Brothers headquarters in New York City on September 15, 2008In New York, shortly before 1 a.m. the next morning, Lehman Brothers Holdings announced it would file for Chapter 11 bankruptcy protection[46] citing bank debt of $613 billion, $155 billion in bond debt, and assets worth $639 billion.[47] It further announced that its subsidiaries will continue to operate as normal.[48] A group of Wall Street firms agreed to provide capital and financial assistance for the bank's orderly liquidation and the Federal Reserve, in turn, agreed to a swap of lower-quality assets in exchange for loans and other assistance from the government.[49]

Lehman's bankruptcy is the largest failure of an investment bank since Drexel Burnham Lambert collapsed amid fraud allegations 18 years ago.[49]

Later in the day the Australian Securities Exchange (ASX) suspended Lehman's Australian subsidiary as a market participant after clearing-houses terminated their contracts with the firm.[50]

Lehman shares tumbled over 90% on September 15, 2008.[51][52] The Dow Jones closed down just over 500 points on September 15, 2008, the largest drop in a single day since the days following the attacks on September 11, 2001.[53] The conditions on Lehman's trading floors that day appeared grim; one-third of the sales force were absent.[54]

In the United Kingdom, the investment bank went into administration with PricewaterhouseCoopers appointed as administrators.[55] In Japan, the Japanese branch, Lehman Brothers Japan Inc., and its holding company filed for civil reorganization on September 16, 2008, in Tokyo District Court.[56]

On Tuesday, September 16, 2008, Barclays plc announced that they will acquire a "stripped clean" portion of Lehman for $1.75 billion. This portion includes the Lehman headquarters building in the Times Square area of New York City, two data centers and the bulk of Lehman's trading and debt security operations, which will become part of Barclays Capital, a division of Barclays plc.[57][3] On September 20, this transaction was approved by U.S. Bankruptcy Judge James Peck, who stated that, "I have to approve this transaction because it is the only available transaction" with a final reduced price of $1.3 billion (£700 million) after re-evaluation of asset prices[58][59]

On September 17, 2008, the New York Stock Exchange delisted Lehman Brothers.[60] Its old symbol, "LEH", has been replaced by the new symbol, "Pink Sheets: LEHMQ" on the Pink Sheets.

On September 17, 2008, Paul Brough, Edward Middleton and Patrick Cowley of KPMG China become the provisional liquidators appointed over Lehman's two Hong Kong based units - Lehman Brothers Securities Asia Limited and Lehman Brothers Futures Asia Limited.[61] They are also appointed as the provisional liquidators for three further Hong Kong based Lehman Brothers companies, Lehman Brothers Asia Holdings Limited, Lehman Brothers Asia Limited and Lehman Brothers Commercial Corporation Asia Limited on 18 September 2008.[62]


[edit] Revised deal and judgment
This documents a current event.
Information may change rapidly as the event progresses.

On September 20, 2008, a revised version of the deal, a $1.35 billion (£700 million) plan for Barclays Plc to acquire the core business of Lehman Brothers (mainly Lehman's $ 960 million Lehman's Midtown Manhattan office skyscraper, with responsibility for 9,000 former employees), was approved. Manhattan court bankruptcy Judge James Peck, after a 7 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 a similar emergency."[63]

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 Miller of Weil, Gotshal & Manges, said "the purchase price for 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. Lehman's original estimate valued its headquarters at $ 1.02 billion but an appraisal from CB Richard Ellis this week valued it at $900 million." 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.[64] Barclays had 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.[65][66]


[edit] Board of Directors
Richard S. Fuld, Jr., Chairman and Chief Executive Officer [67]
Michael L. Ainslie [67]
John F. Akers [67]
Roger S. Berlind [67]
Thomas Cruikshank [67]
Marsha Johnson Evans [67]
Sir Christopher Gent [67]
Roland A. Hernandez [67]
Dr. Henry Kaufman [67]
John D. Macomber [67]

[edit] References
^ Executive compensation at Lehman Brothers
^ "Lehman folds with record $613 billion debt". Marketwatch (2005-09-15). Retrieved on 2008-09-15.
^ a b "Barclays announces agreement to acquire Lehman Brothers North American investment banking and capital markets businesses". Barclays PLC. (2008-09-17). Retrieved on 2008-09-17.
^ "Barclays buys core Lehman assets", BBC News (2008-09-17). Retrieved on 2008-09-17.
^ a b Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 49
^ Bernhard, William, L., Birge, June Rossbach Bingham, Loeb, John L., Jr.. Lots of Lehmans - The Family of Mayer Lehman of Lehman Brothers, Remembered by His Descendants. Center For Jewish History, 2007, page 1
^ a b c d Wechsberg, Joseph. The Merchant Bankers. Pocket Books, 1966, page 233
^ Bernhard, William, L., Birge, June Rossbach Bingham, Loeb, John L., Jr.. Lots of Lehmans - The Family of Mayer Lehman of Lehman Brothers, Remembered by His Descendants. Center For Jewish History, 2007, page 5
^ Birmingham, Stephen. Our Crowd- The Great Jewish Family's of New York. Harper and Row, 1967, page 47
^ a b c d Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 50
^ Birmingham, Stephen. Our Crowd- The Great Jewish Family's of New York. Harper and Row, 1967, page 77
^ Bernhard, William, L., Birge, June Rossbach Bingham, Loeb, John L., Jr.. Lots of Lehmans - The Family of Mayer Lehman of Lehman Brothers, Remembered by His Descendants. Center For Jewish History, 2007, page 8
^ a b Wechsberg, Joseph. The Merchant Bankers. Pocket Books, 1966, page 235
^ a b Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 51
^ Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 285
^ a b c Wechsberg, Joseph. The Merchant Bankers. Pocket Books, 1966, page 238
^ a b Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 53
^ a b Wechsberg, Joseph. The Merchant Bankers. Pocket Books, 1966, page 241
^ "John M. Hancock Papers". University of North Dakota. Retrieved on 2008-09-14.
^ Ingham, John N. (1983). Biographical Dictionary of American Business Leaders. Greenwood Publishing Group. Retrieved on 2008-09-14.
^ a b c Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 77
^ Sloane, Leonard (1977-11-29). "Lehman and Kuhn Loeb to Merge; Lehman Brothers and Kuhn Loeb Sign Agreement to Merge Dec. 16". NY Times. Retrieved on 2008-03-29.
^ a b Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 78
^ "Company News - Hutton-Shearson Deal Announced". New York Times (1987-12-04). Retrieved on 2008-09-14.
^ "Primerica Will Buy Shearson for $1 Billion". New York Times (1993-03-13). Retrieved on 2008-09-14.
^ Geisst, Charles R. The Last Partnerships. McGraw-Hill, 1997, page 79
^ "Lehman Brothers to take over SG Cowen's brokerage division". Financial Express (2000-07-18). Retrieved on 2008-09-14.
^ a b "BACK AGAIN: Lehman returns to institutional management with Lincoln deal; Purchase of fixed-income business ends 13-year absence.(News: Lehman Brothers, Lincoln Capital Management Co.)". Retrieved on 2008-09-14.
^ Thomas, Landon Jr. (2003-07-23). "Market Place; Lehman to Buy Neuberger Berman For $2.6 Billion". NYTimes.com. Retrieved on 2008-08-30.
^ "Citrix Systems » Lehman Brothers". Citrix.com. Retrieved on 2008-09-14.
^ Kulikowski, Laura (2007-08-22). "Lehman Brothers Amputates Mortgage Arm". TheStreet.com. Retrieved on 2008-03-18.
^ a b c Jenny Anderson; Eric Dash (2008-08-29). "Struggling Lehman Plans to Lay Off 1,500", The New York Times. Retrieved on 2008-08-29.
^ New York Times, World Business, article by Jenny Anderson and Landon Thomas, 22 August 2008
^ "Financials slip as Korea snags weigh on Lehman and Merrill - MarketWatch". Marketwatch.com. Retrieved on 2008-09-14.
^ 5 days ago (5 days ago). "AFP: Lehman Brothers in freefall as hopes fade for new capital". Afp.google.com. Retrieved on 2008-09-14.
^ "Dow plunges nearly 300 points on concern about Lehman", Times-Picayune (2008-09-09). Retrieved on 2008-09-09.
^ Jenny Anderson (2008-09-09). "Wall Street’s Fears on Lehman Bros. Batter Markets", The New York Times.
^ Ben White (2008-09-10). "Lehman Sees $3.9 Billion Loss and Plans to Shed Assets", The New York Times. Retrieved on 2008-09-10.
^ a b Joe Bel Bruno (2008-09-10). "Lehman shares slip on plans to auction off unit, consider sale of company", The Associated Press. Retrieved on 2008-09-10.
^ a b Jenny Anderson (2008-09-11). "As Pressure Builds, Lehman Said to Be Looking for a Buyer", The New York Times. Retrieved on 2008-09-11.
^ a b Jenny Anderson; Eric Dash, Vikas Bajaj, Edmund Andrews (2008-09-13). "U.S. Gives Banks Urgent Warning to Solve Crisis", The New York Times. Retrieved on 2008-09-13.
^ a b c Ben White; Jenny Anderson (2008-09-14). "Lehman Heads Toward Brink as Barclays Ends Talks", The New York Times. Retrieved on 2008-09-14.
^ Lehman Risk Reduction Trading Session and Protocol Agreement ISDA
^ US special session to cut Lehman risk extended-ISDA Forbes.com
^ "CDS dealers honour trades to cut Lehman risk". Reuters (2008-09-15). Retrieved on 2008-09-15.
^ "Lehman Brothers Holdings Inc. Announces It Intends to File Chapter 11 Bankruptcy Petition". Lehman Brothers Holdings Inc. (2008-09-15). Retrieved on 2008-09-15.
^ "Lehman Lists Debts Of $613 Billion In Chapter 11 Filing Monday". Money.cnn.com. Retrieved on 2008-09-15.
^ http://www.lehman.com/press/pdf_2008/091508_lbhi_chapter11_announce.pdf
^ a b Andrew Ross Sorkin (2008-09-15). "In Frantic Day, Wall Street Banks Teeter", New York Times. Retrieved on 2008-09-15.
^ "ASX suspends Lehman Brothers". The Australian (2008-09-15). Retrieved on 2008-09-15.
^ marketwatch.com, FINANCIAL STOCKS Lehman falls 80% as firm readies bankruptcy filing
^ afp.google.com, Lehman bankruptcy shakes world financial system
^ Michael Grynbaum (2008-09-15). "Wall St.’s Turmoil Sends Stocks Reeling", The New York Times. Retrieved on 2008-09-15.
^ Andrew Ross Sorkin (2008-09-15). "Inside the Center of the Storm", The New York Times. Retrieved on 2008-09-15.
^ "Lehman Bros files for bankruptcy". News.bbc.co.uk (Page last updated at 13:00 GMT, Monday, 15 September 2008 14:00 UK). Retrieved on 2008-09-15.
^ "Lehman Bros files for Civil Reorganization Law". Yomiuri Online (Page last updated at 12:49 JST, Monday, 16 September 2008 12:49 Japan). Retrieved on 2008-09-16.
^ "Lehman, Workers Score Reprieve". The Wall Street Journal (Page last updated at 1:59 GMT, Monday, 17 September 2008 14:00 UK). Retrieved on 2008-09-17.
^ "US judge approves Lehman's asset sale to Barclays", Reuters/Forbes (2008-09-20). Retrieved on 2008-09-20.
^ http://news.bbc.co.uk/1/hi/business/7626624.stm
^ NYSE Euronext (2008-09-17). "NYSE to Suspend Trading in Lehman Brothers Holdings, Inc. and Related Securities listed on NYSE and NYSE Arca; Moves to Remove from the List". Press release. Retrieved on 2008-09-18.
^ Provisional Liquidators appointed over Lehman's units - KPMG China website, 17 September 2008
^ Provisional Liquidators appointed over further Lehman Brothers' units - KPMG China website, 18 September 2008
^ news.bbc.co.uk, Judge approves $1.3bn Lehman deal
^ reuters.com, Judge approves Lehman, Barclays pact
^ ap.google.com, Judge says Lehman can sell units to Barclays
^ guardian.co.uk, US judge approves Lehman's asset sale to Barclay
^ a b c d e f g h i j "Board of Directors". Lehman Brothers. Retrieved on 2008-09-14.

Muhammad Iqbal (anggota KPPU)

Muhammad Iqbal (anggota KPPU)
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Muhammad Iqbal adalah ketua KPPU dari Juni 2001 - Juni 2002. Sebelum bergabung dengan KPPU sejak 1979, Muhammad Iqbal dikenal sebagai ahli koperasi Indonesia. Iqbal memulai karirnya sebagai pengurus Koperasi Kesejahteraan Mahasiswa Bandung hingga 1981.

Alumni Teknik Industri Institut Teknologi Bandung 1981 ini kemudian melanjutkan kiprahnya sebagai Ketua I Koperasi Pemuda Indonesia (Kopindo) selama dua periode. Bahkan periode 1987-1999 menduduki Ketua Umum Kopindo.

Dalam periode yang hampir sama, yakni antara 1983-1997, Muhammad Iqbal juga menduduki posisi sebagai Ketua Dewan Koperasi Indonesia (Dekopin). Kiprahnya di Dekopin berlanjut hingga 2004, sehingga Iqbal dikenal kalangan luas sebagai pakar koperasi terkemuka Indonesia.

Selain itu, Iqbal juga pernah menjabat sebagai Direktur PT Yala Tekno Geothermal, sebuah perusahaan kemitraan antara koperasi dan swasta di bidang pengembangan panas bumi.

Memasuki abad 21, karir Muhammad Iqbal semakin melesat. Selain menduduki posisi sebagai Ketua KPPU Iqbal juga menjadi pengurus Kamar Dagang dan Industri Indonesia (Kadin) periode 2004-2008.

Sebelumnya, Iqbal juga sempat menjadi anggota MPR pada periode 1999-2004. Pria kelahiran Yogyakarta 9 November 1955 ini memiliki seorang isteri dan dua orang anak.[1]


Kontroversi
Muhammad Iqbal ditangkap anggota KPK saat menerima uang yang diduga uang suap senilai 500 juta Rupiah dari Presiden Direktur PT First Media Tbk. Billy Sindoro. Aksi tersebut berlangsung di sebuah lift hotel Arya Duta, Jakarta.[2]

KPK: Rp 500 Juta Uang Suap Putusan Kasus liga Inggris

KPK: Rp 500 Juta Uang Suap Putusan Kasus liga Inggris


Mantan Presdir PT First Media Billy Sindoro saat dibawa ke tahanan Polres Jakarta Barat tadi malam.

JAKARTA - Anggota Komisi Pengawas Persaingan Usaha (KPPU) Mohammad Iqbal dan mantan Presdir PT First Media Tbk Billy Sindoro akhirnya dijebloskan ke tahanan tadi malam. Itu terjadi setelah mereka menjalani pemeriksaan secara maraton di gedung Komisi Pemberantasan Korupsi (KPK) dan ditetapkan tersangka.

Tim penyidik KPK menahan Iqbal dan Billy selama 20 hari. Ruang tahanan mereka berbeda. Billy dimasukkan ke tahanan Polres Jakarta Barat. Iqbal dititipkan di tahanan Polres Jakarta Pusat.

Pemeriksaan terhadap Iqbal rampung sekitar pukul 17.00. Sama dengan saat penangkapan Selasa malam (16/9), tidak ada satu pun komentar yang keluar dari mulutnya. Pria yang pernah menjabat ketua KPPU periode 2001-2002 itu hanya menjawab dengan senyuman saat dihujani pertanyaan oleh wartawan.
Selama seharian menjalani pemeriksaan, rupanya, Iqbal tidak berganti pakaian. Kemeja batik cokelat yang dikenakan masih sama dengan saat dia diringkus di Hotel Aryaduta.

Keberangkatan mantan aktivis mahasiswa ke tahanan itu, antara lain, diantarkan sejumlah anggota keluarganya yang menunggui pemeriksaan Iqbal di gedung KPK. Termasuk, sang istri, Andralianti Soekardi. Sejak penangkapan, para orang dekat Iqbal dan pengacara Maqdir Ismail terus menunggu di teras gedung KPK.

Setelah Iqbal, giliran Billy diantar penyidik KPK ke tahanan Polres Jakarta Barat. Salah satu orang kepercayaan bos Grup Lippo Muchtar Riady itu meninggalkan ruang pemeriksaan sekitar pukul 19.05.

Billy juga mengunci rapat-rapat mulutnya. Sebelum masuk ke mobil tahanan, pemilik MBA dari Universitas South Dakota, AS, itu mengatur langkah. Dia rupanya ingin berada di tengah-tengah kepungan polisi yang mengawalnya sehingga wartawan pun kesulitan mewawancarai.

Di tengah pemeriksaan, KPK membeberkan perkembangan penyidikan dugaan suap yang terkait dengan putusan kasus Astro itu. Wakil Ketua KPK Chandra Hamzah memastikan, Billy dan Iqbal resmi berstatus tersangka. “Dari hasil analisis kami, uang itu diberikan karena kasus (putusan sidang kasus Astro) di KPPU,” ujar Chandra kemarin (17/9).

Dia menjelaskan bahwa putusan itu berhubungan dengan perkara monopoli atas hak siar Liga Inggris yang ditangani KPPU sejak September 2007. Dalam putusannya, majelis KPPU yang salah satunya beranggota Iqbal menyatakan, PT Direct Vision (PT DV) dan Astro Nusantara tidak disalahkan dalam kasus tersebut. Majelis tidak menyimpulkan adanya monopoli dalam siaran Liga Inggris. KPPU justru menganggap yang melakukan persaingan tidak sehat adalah ESPN Star Sport dan Astro induk (Astro All Asia Network Plc/Astro Malaysia).

Menurut Chandra, perkara yang ditangani KPPU itu bermula dari laporan PT Indosat Multi Media dan PT MNC Sky Vision (Indovision) terhadap Astro All Nation Network mengenai penguasaan hak siar Liga Inggris oleh PT DV. Iqbal menjadi salah satu anggota majelis yang menangani pengaduan tersebut. Billy diduga punya afiliasi dengan PT DV.

Dari analisis tersebut, lanjut Chandra, KPK lantas mengaitkan pemberian uang Rp 500 juta dari Billy kepada Iqbal.

Menurut informasi yang dihimpun Jawa Pos, Iqbal bersikukuh bahwa uang yang diterimanya bukan suap. “Yang bersangkutan masih saja tidak mengakui itu suap. Apakah itu pemberian uang yang pertama atau yang terakhir juga tidak mengaku,” jelas sumber itu. Namun, kabarnya, KPK sudah menyelidiki kasus tersebut sejak lama.

Namun, informasi itu dibantah Chandra. Menurut dia, penyidik tidak membutuhkan pengakuan semata-mata. “Kami punya banyak alat bukti dan barang bukti yang menguatkan. Pengakuan bukan yang utama,” ujar Candra. Barang bukti tersebut dikumpulkan dari berbagai tempat.

Dia menambahkan karena perbutannya itu, Iqbal dan Billy dijerat dengan pasal berlapis, yakni pasal 5 (1) huruf b, pasal 5 (2) , pasal 11, pasal 12 huruf a dan b serta pasal 13 UU Tipikor. ”Kami kenakan pasal yang berlapis,” terangnya.

Kuasa hukum Iqbal, Muklas A.S., mengungkapkan bahwa Iqbal bersikukuh bahwa tas warna hitam yang diterimanya itu merupakan bingkisan dari Billy. Iqbal sendiri juga tidak mengetahui apakah tas tersebut berisi uang ataukah bukan. “Yang pasti, Pak Iqbal tidak mengetahui tas itu isinya apa,” ungkapnya.

Ketika dicecar penyidik, Iqbal juga menjawab tidak tahu isi tas tersebut. “Tentu saja, jawabannya banyak tidak tahu karena memang tidak tahu isinya,” terangnya.

Di tempat sama, Ketua KPK Antasari Azhar juga mengungkapkan bahwa fakta yang didapat penyidik masih belum berkembang. Apakah suap itu yang pertama atau justru pemberian yang terakhir. “Fakta masih seperti berita kemarin. Kami terus mendalaminya,” kata Antasari.

Dari gedung Bursa Efek Indonesia (BEI) diketahui, nama Billy ternyata tidak lagi menakhodai PT First Media Tbk (KBLV). Billy resmi menyerahkan jabatan Presdir kepada Krishnadi Kartawidjaja pada 13 Juni 2008. Selain pernah menjabat Presdir PT First Media, Billy pernah menjadi komisaris independen Bank Lippo. Namun, Bank Lippo kini sedang dalam proses merger dengan Bank Niaga dan memiliki susunan direksi baru tanpa nama Billy. Dia kini tidak lagi mengendalikan manajemen perusahaan Grup Lippo. Billy, tampaknya, kini banyak berada di balik layar untuk “mengamankan” kepentingan Grup Lippo.

Siap Bantu KPK

Di tempat terpisah, Ketua KPPU Syamsul Maarif mempersilakan penyidik KPK memeriksa anggota komisioner lainnya jika memang ada kaitan dengan penangkapan Iqbal. Dua kolega Billy sesama anggota majelis yang memutus kasus Astro adalah Anna Maria Tri Anggraini (ketua) dan Benny Pasaribu (anggota). ”Saya kira kami siap membantu dengan memberikan keterangan apa pun yang dibutuhkan KPK,” ujarnya.

Apakah dua anggota KPPU itu ditengarai terlibat menerima suap? Syamsul enggan menjawab. Dia mengaku sama sekali tidak memiliki analisis seperti itu. Sebab, yang berhak memutuskan apakah ada anggota komisi lain yang terlibat adalah KPK. “KPK yang berhak melakukan pengembangan substansi perkara,” tegasnya.

Kemarin seluruh anggota KPPU melakukan rapat pleno selama 4,5 jam. Hasilnya, diputuskan agar semua pekerjaan Iqbal sebagai anggota KPPU untuk sementara dialihkan kepada anggota lain. “Agar beliau fokus pada pemeriksaan, maka tugas sekarang yang diemban beliau dilimpahkan kepada komisioner lainnya,” ungkapnya.

Namun, menurut Syamsul, pelimpahan tugas itu bukan diartikan sebagai penonaktifan Iqbal. Sebab, penonaktifan berarti tidak lagi menjadi anggoat KPPU. Secara formal, yang berhak menonaktifkan anggota KPPU hanyalah presiden. Menurut dia, tugas-tugas Iqbal harus tetap ditangani karena ada deadline-nya.

Soal tugas Benny dan Anna, Syamsul menegaskan tetap bekerja seperti biasa. Di tempat sama, Anna yang menjadi ketua majelis itu mengakui bahwa selama ini tidak pernah dihubungi Billy atau petinggi PT First Media lainnya. ”Tidak pernah ada telepon, SMS pun tidak ada,” ujarnya.

Anna mengaku, anggota KPPU yang sedang menangani perkara selama ini dilarang berhubungan dengan pengusaha yang diperiksa atau diperkarakan. Karena itu, dia mengaku tidak pernah berhubungan dengan pengusaha, termasuk Billy. ”Kita dilarang bertemu dengan pengusaha yang sedang beperkara. Dan saya menegaskan tidak pernah melakukan pembicraan apa pun dengan Billy,” tambahnya.

Sementara itu, pihak Astro All Asia Network (AAAN) mendukung sepenuhnya tindakan KPK mengusut kasus suap Iqbal.

Bagaimana tanggapan PT First Media? Saat dihubungi Jawa Pos kemarin, Direktur PT First Media Thelma S. Victorio menolak berkomentar. Dia awalnya mengangkat ponselnya. Tetapi, saat ditanya mengenai kasus penangkapan Iqbal, Thelma enggan menjawab. ”Maaf, suara Anda (wartawan Jawa Pos) tidak jelas, kresek-kresek,” kata Thelma. (git/wir/agm)

Sumber : JAWAPOS

Fed Takes Control of AIG With $85 Billion Bailout

By Hugh Son and Erik Holm

Sept. 17 (Bloomberg) -- The U.S. government took control of American International Group Inc. in an $85 billion bailout to prevent the bankruptcy of the nation's biggest insurer and the worst financial collapse in history.

The Federal Reserve will provide a two-year loan, take 79.9 percent of the New York-based company's stock and replace its management because ``a disorderly failure of AIG could add to already significant levels of financial market fragility,'' according to a statement by the central bank late yesterday.

AIG unraveled as the worst housing crisis since the Great Depression led to more than $18 billion of losses in the past year. A meltdown could have cost the financial industry $180 billion, according to RBC Capital Markets, because AIG provided insurance on more than $441 billion of fixed-income investments held by the world's biggest institutions, including $57.8 billion in securities tied to subprime mortgages.

``Nobody really knows what it would have meant if they would have been allowed to fail, but there was an enormous amount of systemic risk,'' said David Havens, a credit analyst at UBS AG in Stamford, Connecticut. ``It's an enormous relief.''

The government is lending AIG the money at 8.5 percentage points above the three-month London interbank offered rate, or a current rate of about 11.5 percent.

The agreement will give the company, which sells insurance in more than 130 countries, time to sell assets ``on an orderly basis,'' AIG said in a statement. Chief Executive Officer Robert Willumstad, 63, will be replaced by former Allstate Corp. CEO Edward Liddy, 62, according to a person familiar with the plans, who declined to be identified because the change hadn't been formally announced.

Shares Fall

AIG dropped 45 percent to $2.05 at 4:15 p.m. in New York, after falling 80 percent in the past week on concern the company would go bankrupt. The seizure in credit markets and more than $500 billion of losses related to subprime mortgages forced the government to take over Fannie Mae and Freddie Mac, which control about half of America's $12 trillion in home loans, and drove Lehman Brothers Holdings Inc. out of business.

``I am floored,'' said former Treasury counsel Peter Wallison in an interview. ``No one could have possibly imagined this a few months ago. I can't imagine why the Fed would do this unless they were sure AIG's failure posed systemic risk.''

Credit Downgrades

The survival of the 89-year-old insurer fell into doubt when Standard & Poor's and Moody's Investors Service cut its credit ratings on Sept. 15. The reductions threatened to force AIG to post more than $13 billion in collateral when the company was already short on cash. AIG couldn't raise money by selling shares after the stock plunged to less than $4 a share from $70.11 in October of last year.

``There could be a greater need for capital'' beyond the $85 billion, New York Insurance Superintendent Eric Dinallo told CNBC today, adding that the loan will give AIG time to sell units.

The loan will ``be sufficient to handle AIG's collateral needs'' and allow the insurer to refinance debt as it comes due, said Wachovia Corp. analyst John Hall in a note today.

The Fed's loan doesn't require asset sales or the company's liquidation, though these are the most likely ways AIG will repay the Fed, central bank staff officials told reporters on condition of anonymity. Blackstone Group LP advised AIG on the transaction.

`Punitive' Interest Rates

The ``punitive'' interest rate on the loan ``makes it extremely clear that this is not a subsidy extended to keep the company afloat but rather a stranglehold that makes AIG unviable while ensuring that its obligations will be met,'' said Marco Annunziata, an analyst at UniCredit SpA, in a note to clients. ``This is to all extents and purposes a controlled bankruptcy.''

The Fed doesn't have an expectation of whether AIG will be smaller, nonexistent or similar to its current form at the end of the loan's term, the staffers said.

The Fed or Treasury will end up holding the AIG stake, the staffers said. The Fed bailed out AIG while refusing aid to Lehman, which collapsed earlier this week, because financial markets were more prepared for a Lehman failure, a Fed staff official said.

The Fed stepped in after JPMorgan Chase & Co. and Goldman Sachs Group Inc., which were brought in to help assess AIG, failed to come up with a solution, according to a person familiar with the talks. Liddy is currently on the board of Goldman, the company Henry Paulson ran as CEO before becoming the U.S. Treasury secretary in 2006.

CEO Turnover

Willumstad, the former Citigroup Inc. president who left the bank in 2005 to seek a CEO position, was named to AIG's top post in June. His predecessor, Martin Sullivan, was chief for three years until being ousted after two record quarterly net losses. Maurice ``Hank'' Greenberg reigned at AIG for almost four decades until he was forced to retire in 2005 amid regulatory probes.

Greenberg, who remains one of the company's biggest stakeholders, said the company needed a bridge loan instead of a plan that put the company under government control. An investor group led by Greenberg said in a federal filing hours before the rescue was announced it might want to buy the company or some units or make loans to AIG.

``Why would you want to wipe out shareholders when you just need a bridge loan?'' Greenberg, 83, said in an interview before the announcement. ``It doesn't make any sense.'' Greenberg declined to comment after the Fed announcement, spokesman Glen Rochkind said.

Banks, Annuities

Businesses that may be sold include American General Finance Corp., the division that makes home and auto loans, said Citigroup analyst Joshua Shanker. The unit generated $2.89 billion in revenue last year, about 2.6 percent of AIG's total. Other candidates include AIG's U.S. variable-annuity business, and a 59 percent stake in reinsurer Transatlantic Holdings Inc., he said.

Asset manager AIG Investments, with 5.1 percent of AIG's revenue, could also be sold, said Gary Ransom of Fox-Pitt Kelton Cochran Caronia Waller.

American General Finance's price could be more than $6 billion if the unit sold for twice its book value. AIG Investments could fetch more than $3 billion if it sold for 2.5 percent of clients' assets under management. The Transatlantic stake is worth about $2.3 billion, based on yesterday's share price. The variable annuity results aren't broken out, making an estimate difficult, said Shanker. AIG acquired the business a decade ago when it bought SunAmerica for $19.7 billion in stock.

Aircraft Leasing

AIG's aircraft-leasing unit International Lease Finance Corp. may be bought by investors led by the unit's founder, Steven Udvar-Hazy, the Wall Street Journal reported, citing unnamed people. Udvar-Hazy has been in discussions with potential investors since Sept. 14, the Journal said.

AIG may also find buyers for life insurance outside the U.S. where competitors including Hartford Financial Services Group Inc., MetLife Inc., Prudential Financial Inc., and Canada's Manulife Financial Corp. have been adding customers.

``In developing insurance markets around the world, the growth rates are, on average, twice what the growth rates in the U.S. are,'' MetLife Chief Financial Officer William Wheeler said Sept. 10. ``When properties come up for sale around the world, it's very competitive.''

Car Insurance

Auto insurers are also consolidating, making AIG's car unit a takeover candidate. Liberty Mutual Group Inc. agreed in April to buy Safeco Corp. for $6.2 billion, the U.S. industry's biggest transaction since 2004.

AIG rejected a bid for a joint investment by Allianz SE and J.C. Flowers & Co. on Sept. 14, said two people with knowledge of the offer.

Allianz, Europe's biggest insurer, and Flowers, the New York-based private equity firm run by J. Christopher Flowers, proposed the cash infusion to help AIG fend off a liquidity crunch, the people said.

Sabia Schwarzer, an Allianz spokeswoman, declined to comment. Flowers and Nicholas Ashooh, an AIG spokesman, didn't return calls seeking comment.

To contact the reporters on this story: Hugh Son in New York at hson1@bloomberg.net; Erik Holm in New York at eholm2@bloomberg.net.

American International Group (AIG)

American International Group
From Wikipedia, the free encyclopedia

Type Public (NYSE: AIG,
TYO: 8685,
ISEQ: AIN)
Founded 1919 in Shanghai, China
Founder Cornelius Vander Starr
Headquarters American International Building
New York City, New York
Area served Worldwide
Key people Robert B. Willumstad
(Outgoing CEO)
Edward M. Liddy
(Incoming CEO)
Industry Insurance, financial services
Products Insurance annuities, mutual funds
Market cap US$7.23 billion (As of September 18, 2008, close)
Revenue US$110.064 billion (2007)
Operating income US$8.943 billion (2007)
Net income US$5.36 billion (2nd Quarter 2008)
Total assets US$1.050 trillion ( 2nd Quarter 2008)
Total equity US$78.09 billion (2nd Quarter 2008)
Employees 116,000 (2008)
Website AIG.com
American International Group, Inc. (AIG) (NYSE: AIG, TYO: 8685, ISEQ: AIN) is a major American insurance corporation based at the American International Building in New York City. The British headquarters are located on Fenchurch Street in London, continental Europe operations are based in La Défense, Paris, and its Asian HQ is in Hong Kong. According to the 2008 Forbes Global 2000 list, AIG was the 18th-largest company in the world. It became a component of the Dow Jones Industrial Average on April 8, 2004, and was removed from it on September 18, 2008 effective September 22, 2008.

On September 16, 2008, as AIG suffered a liquidity crisis following the downgrade of its credit rating, the United States Federal Reserve stepped in to prevent the company's collapse. The Fed announced the creation of a credit facility of up to US$85 billion in exchange for warrants for a 79.9% equity stake and the right to suspend dividends to previously issued common and preferred stock.[1][2][3][4] AIG announced the same day that its board accepted the terms of the Federal Reserve Bank's rescue package.[5] This was the largest government bailout of a private company in U.S. history, though smaller than the bailout of Fannie Mae and Freddie Mac a week earlier.[6][7]

Contents

1 History
1.1 Financial crisis
1.2 Federal Reserve bailout
2 Business
2.1 Insurance
2.1.1 Life insurance
2.1.2 Auto insurance
2.2 International holdings
2.2.1 Australia
2.2.2 China
2.2.3 Hong Kong
2.2.4 India
2.2.5 Singapore
2.2.6 United Kingdom
2.3 Insurance holdings by state
2.3.1 California
2.3.2 Pennsylvania
2.3.3 West Virginia
2.4 Holdings
2.4.1 Aerospace
2.4.2 Telecommunications
2.4.3 Ports
2.4.4 Skiing
2.4.5 Other holdings
3 Litigation
3.1 Accounting fraud claims
4 Corporate governance
4.1 Board of directors
5 See also
6 References
7 Further reading
8 External links


History
AIG's history dates back to 1919, when Cornelius Vander Starr established an insurance agency in Shanghai, China. Starr was the first Westerner in Shanghai to sell insurance to the Chinese. After his business became successful in Asia, he expanded to other markets, including Latin America, Europe, and the Middle East.

In 1962, Starr gave management of the company's less than successful U.S. holdings to Maurice R. "Hank" Greenberg, who shifted the company's U.S. focus from personal insurance to high-margin corporate coverage. Greenberg focused on selling insurance through independent brokers rather than agents to avoid selling insurance at prices which occasionally became too low (to cover the future payouts) given marketplace competition. A company with agents must pay their salaries even while selling little to no insurance. Instead, with brokers, AIG could price insurance properly even if it suffered decreased sales of certain products for great lengths of time with very little extra expense. In 1968, Starr named Greenberg his successor. The company went public in 1969.

By the mid-2000s AIG had become embroiled in a series of fraud investigations conducted by the Securities and Exchange Commission, U.S. Justice Department, and New York State Attorney General's Office. Greenberg was ousted amid an accounting scandal[2] in February 2005. The New York Attorney General's investigation led to a $1.6 billion fine for AIG and criminal charges for some of its executives. Greenberg was succeeded as CEO by Martin J. Sullivan, who had begun his career at AIG as a clerk in its London office in 1970.

On June 15, 2008, under intense pressure due to financial losses and a falling stock price, Martin Sullivan resigned from the CEO position. He was replaced by Robert B. Willumstad, who has served as Chairman of the Board of Directors of the Company since 2006.

Willumstad was forced to step down and was replaced by Edward M. Liddy on September 17, 2008.


[edit] Financial crisis
AIG's share prices fell over 95% to just $1.25 on September 16, 2008, from a 52-week high of $70.13. The company reported over $13.2 billion in losses in the first six months of that year.[8][9] As Lehman Brothers, (the largest bankruptcy in U.S. history) suffered a major decline in share price, investors began comparing the types of securities held by AIG and Lehman, and found that AIG had valued its Alt-A and sub-prime mortgage-backed securities at 1.7 to 2 times the rates used by Lehman.[8] On September 14, 2008, AIG announced it was considering selling its aircraft leasing division, International Lease Finance Corporation, in an effort to raise necessary capital for the company.[8] The Federal Reserve has hired Morgan Stanley to determine if there are systemic risks to a failing AIG, and has asked private entities to supply short-term "bridge" loans to the company. In the meantime, New York regulators have approved AIG for $20 billion in borrowing from its subsidiaries.[10][11]

On September 16, AIG's stock dropped 60 percent at the market's opening.[12] The Federal Reserve continued to meet that day with major Wall Street investment firms to broker a deal to create a $75 billion line of credit to the company.[13] Rating agencies Moody's and Standard and Poor's downgraded their ratings on AIG's credit on concerns over continuing losses on mortgage-backed securities, forcing the company to deliver collateral of over $10 billion to certain creditors.[14][13] The New York Times later reported that talks on Wall Street had broken down and AIG may file for bankruptcy protection on Wednesday, September 17.[15] AIG former CEO Maurice (Hank) Greenberg sent an impassioned letter [1] trying to help in any way possible to AIG CEO Robert B. Willumstad and the Board of Directors before the bailout by the US Federal Reserve. [16]


[edit] Federal Reserve bailout
On the evening of September 16, 2008, the Federal Reserve Bank's Board of Governors announced that the Federal Reserve Bank of New York had been authorized to create a 24-month credit-liquidity facility from which AIG may draw up to $85 billion. The loan is collateralized by the assets of AIG, including its non-regulated subsidiaries and the stock of "substantially all" its regulated subsidiaries, and has an interest rate of 850 basis points over the three-month LIBOR (i.e., LIBOR plus 8.5%). In exchange for the credit facility, the U.S. government will receive warrants for a 79.9 percent equity stake in AIG, and has the right to suspend the payment of dividends to AIG common and preferred shareholders.[2][4] The credit facility was created under the auspices of Section 13(3) of the Federal Reserve Act.[4][17][18]

AIG's board of directors announced approval of the loan transaction the same day. The announcement did not comment on the issuance of warrants that could amount to 79.9% of AIG's equity.[5][2]

Maurice Greenberg, former CEO of AIG, has characterized the bailout as a nationalization of AIG.[19]


[edit] Business
In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer.[citation needed]

AIG is also the principal sponsor of English football team Manchester United and the Japan Open Tennis Championships.


[edit] Insurance

[edit] Life insurance
AIG owns AIG American General, a life insurance company based in Houston, Texas.


[edit] Auto insurance
AIG sells auto insurance through AIG Direct. Policies include auto, motorcycle, recreation vehicle and commercial vehicle insurance. AIG purchased the remaining 39% that it did not own of online auto insurance specialist 21st Century Insurance in 2007 for $749 million.[20]


[edit] International holdings

[edit] Australia
AIG Life (Australia) underwrites over one million life insurance policies in Australia held through industry pension plans. The general insurance arm offers mainly corporate insurance and is among the top 10 insurers in the Australia.[21]


[edit] China
AIG owns 19.8% of People's Insurance Company of China (PICC) through direct and indirect holdings. PICC P&C is China's largest insurer of casualty insurance.


[edit] Hong Kong
AIG's American International Assurance operations include 2.2 million policy holders. [22]


[edit] India
AIG is the minority partner with the Tata Group in two insurance companies in India, holding 26 percent each in Tata AIG Life Insurance Co Ltd and Tata AIG General Insurance Co Ltd. [23]


[edit] Singapore
AIA Singapore is a wholly owned subsidiary of AIG in Singapore. It has more than two million policies in force, more than 3,800 financial services consultants and 800 employees in its Singapore offices. General manager Mark O'Dell resigned on September 18, 2008 in response to policy holders queuing up to cash in their policies in the face of concern of the future of AIG.[24]


[edit] United Kingdom
AIG operates in the UK with the brands AIG UK, AIG Life and AIG Direct. It has about 3,000 employees, and sponsors the Manchester United football club.[25]

In response to redemption demands, AIG Life (UK) suspended redemptions of its AIG Premier Bond money market fund on September 19, 2008 in order to provide an orderly withdrawal of assets.[26]


[edit] Insurance holdings by state

[edit] California
AIG owns more than two dozen companies licensed to offer insurance in California, according to the California Insurance Commissioner. They include 21st Century Casualty Co.; 21st Century Insurance Co.; AIG Casualty Co.; AIG Centennial Insurance Co.; AIG Premier Insurance Co.; AIU Insurance Co.; American General Indemnity Co.; American Home Assurance Co.; American International Insurance Co. of California Inc.; Birmingham Fire Insurance Co. of Pennsylvania; Commerce And Industry Insurance Co.; GE Auto & Home Assurance Co.; GE Indemnity Insurance Co.; Granite State Insurance Co.; Hartford Steam Boiler Inspection and Insurance Co.; Insurance Co. of the State of Pennsylvania; Landmark Insurance Co.; National Union Fire Insurance Co. of Pittsburgh, Pa; New Hampshire Insurance Co.; Pacific Assurance; Putnam Reinsurance Co.; Transatlantic Reinsurance Co.; United Guaranty Commercial Insurance Co. of North Carolina; United Guaranty Credit Insurance Co.; United Guaranty Residential Insurance Co.; and Yosemite Insurance Co.[27]


[edit] Pennsylvania
Twenty AIG subsidiaries are licensed to do business in Pennsylvania, including National Union Fire Insurance Co. in Pittsburgh, believed to be the second largest AIG underwriter in the nation. Other subsidiaries include New Hampshire Insurance, Insurance Company of the State of Pennsylvania, Granite State Insurance and New Hampshire Indemnity.[28]


[edit] West Virginia
AIG writes property and casualty insurance, life and annuity, and workers' compensation insurance in West Virginia. It has 4.7% of the life insurance market and 2.7% of the property and casualty market, as of the end of 2007.[29].


[edit] Holdings

[edit] Aerospace

AIG Tower in Hong KongAIG owns International Lease Finance Corporation (ILFC) , the world's largest aircraft leasing company, with hundreds of aircraft ranging from Airbus A319s to Airbus A380s. Total assets under lease are $55 billion as of June 30, 2008. Estimates of its value range from $5 billion to $14 billion based on a comparison with rivals.[30][31]

AIG is one of the owners of London City Airport, along with GE and Credit Suisse; it was purchased for £750m in 2006.


[edit] Telecommunications
As of August 2007, AIG Investments (through its member company AIG Capital Partners, Inc.) acquired a 90% stake in Bulgarian Telecommunications Company (BTC) from Viva Ventures Holding GmbH (“Viva”) and certain minority shareholders. At the time, the estimated value of BTC was 1.7 billion euros ($2.3 billion). [32]


[edit] Ports
As of March 16, 2007, AIG Investments, a division of AIG, completed the purchase of 100% of the stock of P&O Ports North America from Dubai-based Dubai Ports World. At the time, the estimated price was $700m, though AIG did not disclose the exact figure because the number was too low to be deemed significant to the company's asset base. [33]

On July 2, 2007, Marine Terminals Corporation became part of the AIG Global Investment Group through its acquisition by AIG Highstar Capital. MTC provides the shipping community with a comprehensive network of stevedoring, terminal operating and related cargo handling services. Terms were not disclosed. [34]


[edit] Skiing
AIG owns Stowe Mountain Resort. AIG's connection to Stowe started when C.V. Starr, the company's founder, invested in the resort in 1946. It is AIG's sole ski business. A $300m, 10 year expansion was started in 2005.[35]


[edit] Other holdings
AIG owns Ocean Finance[36] a United Kingdom based company providing home owner loans, mortgages and remortgages.[37]


[edit] Litigation
This section needs additional citations for verification.
Please help improve this article by adding reliable references. Unsourced material may be challenged and removed. (September 2008)

In November 2004, AIG reached US$126 million settlement with the U.S. Securities and Exchange Commission and the Justice Department partly resolving a number of regulatory matters, but the company still must cooperate with investigators continuing to probe the sale of a non-traditional insurance product[38].

On June 11, 2008, three stockholders, collectively owning 4% of the outstanding stock of AIG, delivered a letter to the Board of Directors of AIG seeking to oust CEO Martin Sullivan and make certain other management and Board of Directors changes. This letter was the latest volley in what the Wall Street Journal deemed a "public spat" between the Company's Board and management, on the one hand, and its key stockholders, and former CEO Maurice "Hank" Greenberg on the other hand. [39]


[edit] Accounting fraud claims
On October 14, 2004 the New York State Office of Attorney General Eliot Spitzer announced that it had commenced a civil action against Marsh & McLennan Companies for steering clients to preferred insurers with whom the company maintained lucrative payoff agreements, and for soliciting rigged bids for insurance contracts from the insurers. The Attorney General announced in a release that two AIG executives pleaded guilty to criminal charges in connection with this illegal course of conduct. In early May 2005, AIG restated its financial position and issued a reduction in book value of USD $2.7 billion, a 3.3 percent reduction in net worth.

On February 9, 2006, AIG and the New York State Attorney General's office agreed to a settlement in which AIG would pay a fine of $1.6 billion.[40]


[edit] Corporate governance

[edit] Board of directors
Robert B. Willumstad – Chairman of the Board of Directors and Chief Executive Officer (American International Group)
Stephen F. Bollenback – Former Co-Chairman and CEO, Hilton Hotels Corporation
Marshall A. Cohen – Counsel: Cassels Brock & Blackwell
Martin S. Feldstein – Professor of Economics, Harvard University
Ellen V. Futter – President, American Museum of National History
Richard C. Holbrooke – Vice Chairman, Perseus LLC
George L. Miles – President and Chief Executive Officer, WQED Multimedia
Morris W. Offit – Chairman, Offit Capital Advisors LLC
Michael H. Sutton – Consultant
Frank G. Zarb – Senior Advisor and Managing Director, Hellman and Friedman LLC.
Stephen L. Hammerman – Retired Vice Chairman, Merrill Lynch and Co., Inc.
Fred H. Langhammer – Chairman, Global Affairs, and former CEO of The Estee Lauder Companies, Inc.
Virginia M. Rometty – Senior Vice President, Global Business Services, IBM Corporation
James F. Orr, III – Chairman of the Board of Trustees, The Rockefeller Foundation
Edmund S.W. Tse – Senior Vice Chairman, Life Insurance, American International Group