When Lehman Brothers collapsed in 2008, it was the largest bankruptcy in U.S. history. More than three years later, Lehman is emerging from Chapter 11. The firm is really just back in business to liquidate itself. Lehman has about $65 billion in assets that it intends to distribute among its many creditors starting next month.
Perhaps it's fitting that the state that kept everyone up late last night, waiting for results, was Ohio. It's a swing state, and it seems every four years, in the fall, Ohio becomes the center of attention in a presidential election.
This year, as NPR's Tamara Keith reports, it just happened a little earlier.
TAMARA KEITH, BYLINE: Talk to Ohio voters - Republicans and Democrats alike - and there's one issue that rises above all the others.
Let's devote the next few minutes to the subject that President Obama began his press conference on, the U.S. housing market. The president pointed out that in many ways the U.S. economy is looking up. But...
PRESIDENT BARACK OBAMA: There are still millions of Americans who can't find a job. There are millions more who are having a tough time making the rent or the mortgage, paying for gas or groceries. So our job in Washington isn't to sit back and do nothing. And it's certainly not to stand in the way of the recovery.
And our last word in business today is: culinary frontiers.
When companies come into foreign markets, they often devise products that reflect local tastes - kosher Big Macs in Israel, for instance. So with Dunkin Donuts aiming to nearly double its outlets in China, it has come up with pork donuts.
Tina Brown, editor of The Daily Beast and Newsweek, tells us what she's been reading in a feature that Morning Edition likes to call "Word of Mouth." This month, Brown selects two pieces of writing profiling individuals at the center of political change in their respective countries.
Nearly four years ago, the bank collapsed in the biggest bankruptcy in U.S. history — a record $639 billion. That set off a chain reaction and sent the economy spiraling. Lehman Bros. says now, it will continue to liquidate its holdings, and will start paying back creditors next month.