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Kamis, 09 Juni 2011

Manchester United F.C.



Dari Wikipedia bahasa Indonesia, ensiklopedia bebas
Manchester United F.C.

Nama lengkap Manchester United Football Club
Julukan The Red Devils[1]
Didirikan 1878 dengan nama Newton Heath LYR F.C.
Stadion Old Trafford
(Kapasitas: 75.957)
Pemilik Keluarga Glazer
Wakil ketua Joel Glazer dan Avram Glazer
Manajer Alex Ferguson
Liga Liga Utama
2010-11 Liga Utama, ke-1
Situs web Situs web resmi klub

Kostum kandang

Kostum tandang

Kostum ketiga
Musim ini
Manchester United F.C. (biasa disingkat Man Utd, Man United atau hanya MU) adalah sebuah klub sepak bola papan atas di Inggris yang berbasis di Old Trafford, Manchester,
Dibentuk sebagai Newton Heath L&YR F.C. pada 1878 sebagai tim sepak bola depot Perusahaan Kereta Api Lancashire dan Yorkshire Railway di Newton Heath, namanya berganti menjadi Manchester United pada 1902.
Meski sejak dulu telah termasuk salah satu tim terkuat di Inggris, barulah sejak 1993 Manchester United meraih dominasi yang besar di kejuaraan domestik di bawah arahan Sir Alex Ferguson - dominasi dengan skala yang tidak terlihat sejak berakhirnya era Liverpool F.C. pada pertengahan 1970-an dan awal 1980-an. Sejak bergulirnya era Premiership di tahun 1992, Manchester United adalah tim yang paling sukses dengan dua belas kali merebut trofi juara.
Meskipun sukses di kompetisi domestik, kesuksesan tersebut masih sulit diulangi di kejuaraan Eropa; mereka hanya pernah meraih juara di Liga Champions tiga kali sepanjang sejarahnya (1968, 1999, 2008).
Sejak musim 86-87, mereka telah meraih 22 trofi besar - jumlah ini merupakan yang terbanyak di antara klub-klub Liga Utama Inggris. Mereka telah memenangi 19 trofi juara Liga Utama Inggris (termasuk saat masih disebut Divisi Satu). Pada tahun 1968, mereka menjadi tim Inggris pertama yang berhasil memenangi Liga Champions Eropa, setelah mengalahkan S.L. Benfica 4–1, dan mereka memenangi Liga Champions Eropa untuk kedua kalinya pada tahun 1999 dan sekali lagi pada tahun 2008 setelah mengalahkan Chelsea F.C. di final. Mereka juga memegang rekor memenangi Piala FA sebanyak 11 kali.[2] Pada 2008, mereka menjadi klub Inggris pertama dan klub Eropa kedua yang berhasil menjadi Juara Dunia Antarklub FIFA.
Pada 12 Mei 2005, pengusaha Amerika Serikat Malcolm Glazer menjadi pemilik klub dengan membeli mayoritas saham yang bernilai £800 juta (US$1,47 milyar) diikuti dengan banyak protes dari para pendukung fanatik.

Tahun awal (1878–1945)

Tim Manchester United pada awal sesi 1905-06, yang pada saat itu menjadi juara dua di Divisi 2 dan terangkat.
Tim pertama kali dibentuk dengan nama Newton Heath Lancashire and Yorkshire Railwaiy F.C. pada 1878 sebagai tim karya Lancashire dan Yorkshire, stasiun kereta api di Newton Heath. Kaos tim berwarna hijau - emas. Mereka bermain di sebuah lapangan kecil di North Road, dekat stasiun kereta api Piccadilly Manchester selama lima belas tahun, sebelum pindah ke Bank Street di kota dekat Clayton pada 1893. Tim sudah memasuki kompetisi sepak bola tahun sebelumnya dan mulai memutuskan hubungannya dengan stasiun kereta api, menjadi perusahaan mandiri, mengangkat seorang sekretaris perkumpulan dan pengedropan "L&YR" dari nama mereka untuk menjadi Newton Heath F.C saja..
Tak lama kemudian, di tahun 1902, tim nyaris bangkrut, dengan utang lebih dari £2500. Lapangan Bank Street mereka telah ditutup.[3]
Sebelum tim mereka bubar, mereka menerima investasi dari J. H. Davies*, direktur Manchester Breweries. Awalnya, seorang legenda tim, Harry Stafford, yang merupakan kapten tim, memamerkan anjing St. Bernardnya**, kemudian Davies memutuskan untuk membeli anjing itu. Stafford menolak, tetapi berhasil memengaruhi Davies untuk menannamkan modal pada tim dan menjadi chairman tim.[4] Diadakan rapat untuk mengganti nama perkumpulan. Manchester Central dan Manchester Celtic adalah nama yang diusulkan, sebelum Louis Rocca, seorang imigran muda asal Italia, berkata "Tuan-tuan, mengapa kita tidak menggunakan nama Manchester United?"[5] Nama ditetapkan dan Manchester United secara resmi eksis mulai 26 April 1902. Davies juga memutuskan untuk mengganti warna tim dan terpilihlah warna merah dan putih sebagai warna tim Manchester United.
Ernest Mangnall ditunjuk menjadi sekretaris klub menggantikan James West yang mengundurkan diri pada tanggal 28 September 1902. Mangnall bekerja keras untuk mengangkat tim ke Divisi Satu dan gagal pada upaya pertamanya, menempati urutan 5 Liga Divisi Dua. Mangnall memutuskan untuk menambah sejumlah pemain ke dalam klub dan merekrut pemain seperti Harry Moger, Dick Duckworth, dan John Picken, ada juga Charlie Roberts yang membuat dampak besar. Dia dibeli £750 dari Grimsby Town pada April 1904, dan membawa tim ke posisi tiga klasmen akhir musim 1903-1904.
Mereka kemudian berpromosi ke Divisi Satu setelah finis diurutan dua Divisi Dua musim 1905–06. Musim pertama mereka di Divisi Satu berakhir kurang baik, mereka menempati urutan 8 klasmen. Akhirnya mereka memenangkan gelar liga pertamanya pada tahun 1908. Manchester City sedang diselidiki karena menggaji pemain diatas regulasi yang ditetapkan FA. Mereka didenda £250 dan delapan belas pemain mereka dihukum tidak boleh bermain untuk mereka lagi. United dengan cepat mengambil kesempatan dari situasi ini, merekrut Billy Meredith dan Sandy Turnbull, dan lainnya. Pemain baru ini tidak boleh bermain dahulu sebelum tahun Baru 1907, akibat dari skors dari FA. Mereka mulai bermain pada musim 1907–08 dan United membidik gelar juara saat itu. Kemenangan 2–1 atas Sheffield United memulai kemenangan beruntun sepuluh kali United. Namun pada akhirnya, mereka tutup musim dengan keunggulan 9 poin dari rival mereka, Aston Villa.
Klub membutuhkan waktu dua tahun untuk membawa trofi lagi, mereka memenangkan trofi Liga Divisi Satu untuk kedua kalinya pada musim 1910–11. United pindah ke lapangan barunya Old Trafford. Mereka memainkan pertandingan pertamanya di Old Trafford pada tanggal 19 Februari 1910 melawan Liverpool, tetapi mereka kalah 4-3. Mereka tidak mendapat trofi lagi pada musim 1911–12, mereka tidak didukung oleh Mangnall lagi karena dia pindah ke Manchester City setelah 10 tahunnya bersama United. Setelah itu, mereka 41 tahun bermain tanpa memenangkan satu trofi pun.
United kembali terdegradasi pada tahun 1922 setelah sepuluh tahun bermain di Divisi Satu. Mereka naik divisi lagi tahun 1925, tetapi kesulitan untuk masuk jajaran papan atas liga Divisi Satu dan mereka turun divisi lagi pada tahun 1931. United meraih mencapaian terendah sepanjang sejarahnya yaitu posisi 20 klasemen Divisi Dua 1934. kekuatan mereka kembali ketika musim 1938–39.
Keterangan:
Pemilik Manchester United yang pertama
St. Bernard akhirnya menjadi maskot MU yang pertama dari tahun 1902-1906
[sunting]Era Sir Matt Busby Busby (1945–1969)


Matt Busby.
Pada tahun 1945, Matt Busby ditunjuk menjadi manager dari tim yang berbasis di Old Trafford ini. Dia meminta sesuatu yang tidak biasa pada pekerjaannya, seperti menunujuk tim sendiri, memilih pemain yang akan direkrut sendiri dan menentukan jadwal latihan para pemain sendiri. Dia telah kehilangan lowongan manager di klub lain, Liverpool F.C., karena pekerjaan yang diinginkannya itu dirasa petinggi Liverpool adalah pekerjaan seorang direktur, tetapi United memberikan kesempatan untuk ide inovatifnya. Pertama, Busby tidak merekrut pemain, melainkan seorang asisten manager yang bernama Jimmy Murphy. Keputusan menunjuk Busby sebagai manager merupakan keputusan yang sangat tepat, Busby membayar kepercayaan pengurus dengan mengantar United ke posisi kedua liga pada tahun 1947, 1948 and 1949 dan memenangkan Piala FA tahun 1948. Stan Pearson, Jack Rowley, Allenby Chilton, dan Charlie Mitten memiliki andil yang besar dalam pencapaian United ini.
Charlie Mitten pulang ke Colombia untuk mencari bayaran yang lebih baik, tetapi kemampuan pemain senior United tidak menurun dan kembali meraih gelar Divisi Satu pada 1952. Busby tahu, bahwa tim sepak bola tidak hanya membutuhkan pengalaman pemainnya, maka, dia juga berpikir untuk memasukkan beberapa pemain muda. Pertama-tama, pemain muda seperti Roger Byrne, Bill Foulkes, Mark Jones dan Dennis Viollet, membutuhkan waktu untuk menunjukkan permainan terbaik mereka, akibatnya United tergelincir ke posisi 8 pada 1953, tetapi tim kembali memenangkan liga tahun 1956 dengan tim yang usia rata-rata pemainnya hanya 22 tahun, mencetak 103 gol. Kebijakan tentang pemain muda ini mengantarkannya menjadi salah satu manager yang paling sukses menangani Manchester United (pertengahan 1950-an, pertengahan akhir 1960-an dan 1990-an). Busby mempunyai pemain bertalenta tinggi yang bernama Duncan Edwards. Pemuda asal Dudley, West Midlands memainkan debutnya pada umur 16 tahun di 1953. Edwards dikatakan dapat bermain disegala posisi dan banyak yang melihatnya bermain mengatakan bahwa dia adalah pemain terbaik. Musim berikutnya, 1956–57, mereka menang liga kembali dan mencapai final Piala FA, kalah dari Aston Villa. Mereka menjadi tim Inggris pertama yang ikut serta dalam kompetisi Piala Champions Eropa, atas kebijakan FA. Musim lalu, FA membatalkan hak Chelsea untuk tampil di Piala Champions. United dapat mencapai babak semi-final dan kemudian dikandaskan Real Madrid. Dalam perjalanannya ke semi-final, United juga mencatatkan kemenangan yang tetap menunjukkan bahwa mereka adalah tim besar, mengalahkan tim juara Belgia Anderlecht 10–0 di Maine Road.


Sebuah plat kenangan di Old Trafford sebagai penghargaan untuk para pemain yang meninggal pada tragedi Munich Air.
Tragedi terjadi pada musim berikutnya, ketika pesawat membawa tim pulang dari pertandingan Piala Champions Eropa mengalami kecelakaan saat mendarat di Munich, Jerman untuk mengisi bahan bakar. Tragedi Munich air tanggal 6 Februari 1958 merenggut nyawa 8 pemain tim - Geoff Bent, Roger Byrne, Eddie Colman, Duncan Edwards, Mark Jones, David Pegg, Tommy Taylor dan Liam "Billy" Whelan - dan 15 penumpang lainnya, termasuk beberapa staf United, Walter Crickmer, Bert Whalley dan Tom Curry.[6] Terjadi 2 kali pendaratan sebelum yang ketiga terjadi kesalahan fatal, yang disebabkan tidak stabilnya kecepatan pesawat karena adanya lumpur. Penjaga gawang United Harry Gregg mempertahankan kesadaran saat kecelakaan itu dan dibawah ketakutan pesawat akan meledak, menyelamatkan Bobby Charlton dan Dennis Viollet dengan mengencangkan sabuk pengamannya. Tujuh pemain United menginggal dunia di tempat sedangkan Duncan Edwards tewas ketika perjalanan menuju rumah sakit. Sayap kanan Johnny Berry juga selamat dari kecelakaan itu, tetapi cedera membuat karier sepak bolanya berakhir cepat. Dokter Munich mengatakan bahwa Matt Busby tidak memiliki banyak harapan, namun ia pulih dengan ajaibnya dan akhirnya keluar dari rumah sakit setelah dua bulan dirawat di rumah sakit.
Ada rumor bahwa tim akan mengundurkan diri dari kompetisi, namun Jimmy Murphy mengambil alih posisi manager ketika Busby dirawat di rumah sakit, klub melanjutkan kompetisinya. Meskipun kehilangan pemain, mereka mencapai final Piala FA 1958, dimana mereka kalah dari Bolton Wanderers. Akhir musim, UEFA menawarkan FA untuk dapat mengirimkan United dan juara liga Wolverhampton Wanderers untuk berpartisipasi di Piala Champions untuk penghargaan kepada para korban kecelakaan, namun FA menolak. United menekan Wolves pada musim berikutnya dan menyelesaikan liga di posisi kedua klasemen; tidak buruk untuk sebuah tim yang kehilangan sembilan pemain akibat tragedi Munich air.
Busby membangun kembali tim di awal dekade 60-an, membeli pemain seperti Denis Law dan Pat Crerand. Mungkin orang yang paling terkenal dari sejumlah pemain muda ini adalah pemuda Belfast yang bernama George Best. Best memiliki keatletikkan yang sangat langka. Tim memenangkan Piala FA tahun 1963, walaupun hanya finis diurutan 19 Divisi Satu. Keberhasilan di Piala FA membuat pemain menjadi termotivasi dan membuat klub terangkat pada posisi kedua liga tahun 1964, dan memenangkan liga tahun 1965 dan 1967. United memenangkan Piala Champions Eropa 1968, mengalahkan tim asuhan Eusébio SL Benfica 4–1 dipertandingan final, menjadi tim Inggis pertama yang memenagkan kompetisi ini. Tim United saat itu memiliki Pemain Terbaik Eropa, yaitu: Bobby Charlton, Denis Law and George Best. Matt Busby mengundurkan diri pada tahun 1969 dan digantikan oleh pelatih tim cadangan, Wilf McGuinness.
[sunting]Masa sulit (1969–1986)
Setelah masa yang gemilang, United mengalami masa-masa sulit ketika ditangani Wilf McGuinness, selesai diurutan delapan liga pada musim 1969–70. Kemudian dia mengawali musim 1970–71 dengan buruk, sehingga McGuinness kembali turun jabatan menjadi pelatih tim cadangan. Busby kembali melatih United, walaupun hanya 6 bulan. Dibawah asuhan Busby, United mendapat hasil yang lebih baik, namun pada akhirnya ia meninggalkan klub pada tahun 1971. Dalam waktu itu, United kehilangan beberapa pemain kuncinya seperti Nobby Stiles dan Pat Crerand.
Manager Celtic yang berhasil membawa Piala Champions ke Glasgow, Jock Stein, ditunjuk untuk mengisi posisi manager — Stein telah menyetujui kontrak secara verbal dengan United, tetapi membatalkannya — . Frank O'Farrell ditunjuk sebagai suksesor Busby. Seperti McGuinness, O'Farrell tidak bertahan lebih dari 18 bulan, bedanya hanya O'Farrell bereaksi untuk menanggulangi penampilan buruk dari United dengan membawa muka baru ke dalam klub, yang paling nyata adalah direkrutnya Martin Buchan dari Aberdeen seharga £125,000. Tommy Docherty menjadi manager diakhir 1972. Docherty, atau "Doc", menyelamatkan United dari degradasi namun United terdegradasi pada 1974, yang saat itu trio Best, Law and Charlton telah meninggalkan klub. Denis Law pindah ke Manchester City pada musim panas tahun 1973. Pemain seperti Lou Macari, Stewart Houston dan Brian Greenhoff direkrut untuk menggantikan Best, Law and Charlton, namun tidak menghasilkan apa-apa.
Tim meraih promosi pada tahun pertamanya di Divisi Dua, dengan peran besar pemain muda berbakat Steve Coppell yang bermain baik pada musim pertamanya bersama United, bergabung dari Tranmere Rovers. United mencapai Final Piala FA tahun 1976, tetapi mereka dikalahkan Southampton. Mereka mencapai final lagi tahun 1977 dan mengalahkan Liverpool 2–1. Didalam kesuksesan ini, Docherty dipecat karena diketahui memiliki hubungan dengan istri fisioterapi.
Dave Sexton menggantikan Docherty di musim panas 1977 dan membuat tim bermain lebih defensif. Gaya bermain ini tidak disukai suporter, mereka lebih menyukai gaya menyerang Docherty dan Busby. Beberapa pemain dibeli Sexton seperti Joe Jordan, Gordon McQueen, Gary Bailey dan Ray Wilkins, namun tidak dapat mengangkat United menembus ke papan atas, hanya sekali finis diurutan kedua, dan hanya sekali lolos ke babak final Piala FA, dikalahkan Arsenal. Karena tidak meraih gelar, Sexton dipecat pada tahun 1981, walaupun ia memenangkan 7 pertandingan terakhirnya.
Dia digantikan manager flamboyan Ron Atkinson. Dia memecahkan rekor transfer di Inggris dengan membeli Bryan Robson dari West Brom. Robson disebut-sebut merupakan pemain tengah terbaik sepeninggal Duncan Edwards. Tim Atkinson memiliki pemain baru seperti Jesper Olsen, Paul McGrath dan Gordon Strachan yang bermain bersama Norman Whiteside dan Mark Hughes. United memenangkan Piala FA 2 kali dalam 3 tahun, pada 1983 dan 1985, dan diunggulkan untuk memenangkan liga musim 1985–86 setelah memenangkan 10 pertandingan liga pertamanya, membuka jarak 10 poin dengan saingan terdekatnya sampai Oktober 1986. Penampilan United kemudian menjadi buruk dan United mengakhiri musim di urutan 4 klasemen. Hasil buruk United terus berlanjut sampai akhir musim dan dengan hasil yang buruk yaitu diujung batas degradasi, pada November 1986, Atkinson dipecat. Setelah itu United merekrut pelatih baru, yaitu Sir Alex Ferguson.
[sunting]Era Alex Ferguson (1986–sekarang)
[sunting]Sebelum Treble (1986-1998)


Alex Ferguson
Alex Ferguson datang dari Aberdeen untuk menggantikan Atkinson dan mengantarkan klub meraih posisi 11. Musim berikutnya yaitu musim 1987–88, United menyelesaikan liga di posisi kedua, dengan Brian McClair yang menjadi pencetak 20 gol liga setelah George Best.
United mengalami masa sulit 2 musim berikutnya. Dengan pembelian pemain yang cukup banyak, Ferguson tidak dapat memenuhi harapan suporter. Alex Ferguson telah berada dalam bahaya pemecatan pada awal 1990, tetapi sebuah gol dari Mark Robins membawa United menang 1–0 atas Nottingham Forest dibabak ketiga Piala FA. Ini membuat Ferguson terselamatkan dan pada akhirnya United memenangkan Piala FA, setelah mengalahkan Crystal Palace di partai ulang babak final.
United memenangkan Winners' Cup Eropa di 1990–91, mengalahkan juara Spanyol musim itu, Barcelona di final, tetapi mengecewakan di musim berikutnya karena di liga mereka kalah dari saingan, Leeds United.
Kedatangan Eric Cantona di November 1992 merupakan sebuah langkah krusial United saat itu. Cantona membaur bersama pemain dan memenangkan Final Piala FA menjadikan MU menjadi juara dua di liga dan Piala FA. Ferguson membuat suporter kesal karena menjual beberapa pemain Beberapa dari mereka langsung terpilih menjadi anggota Tim nasional sepak bola Inggris. Secara mengejutkan, United kembali meraih double pada musim 1995–96. Ini adalah pertama kalinya klub Inggris meraih double sebanyak dua kali dan akhirnya mereka mendapat sebutan "Double Double".[7]
Mereka memenangkan liga musim 1996–97 dan Eric Cantona menyatakan pensiun dari persepak bolaan profesional pada usia 30. Mereka mengawali musim 1997–98 dengan baik, tetapi mengakhiri liga pada posisi dua klasemen, dibawah pemenang dua gelar, Arsenal.
[sunting]Treble (1998–1999)

Trofi Treble Manchester United di simpan di Museum Di Old Trafford
Musim 1998–99 untuk Manchester United adalah musim tersukses karena mereka berhasil menjadi satu-satunya tim Inggris yang pernah meraih Treble(tiga gelar dalam satu musim) — dengan memenangkan Liga Utama Inggris, Piala FA dan Liga Champion UEFA di musim yang sama.[8] Setelah melewati Liga Utama yang padat, Manchester United berhasil memenangkan liga pada pertandingan terakhir melawan Tottenham Hotspur dengan skor 2–1, ketika Arsenal menang 1–0 atas Aston Villa.[9] Memenangkan Liga Utama merupakan bagian pertama dari treble United, yang disebut Ferguson bagian tersulit.[9] Di final Piala FA mereka bertemu Newcastle United dan menang 2–0 melalui gol Teddy Sheringham dan Paul Scholes.[10] Pada pertandingan terakhir mereka musim itu, pertandingan Final Liga Champions Eropa 1999, mereka mengalahkan Bayern Munich, pertandingan tersebut disebut-sebut sebagai comeback terbaik yang pernah ada, kalah sampai dengan injury time dan mencetak gol dua kali di menit-menit terakhir untuk memastikan kemenangan 2–1.[8] Manchester United juga memenangkan Piala Interkontinental setelah mengalahkan Palmeiras 1–0 di Tokyo.[11]
[sunting]Setelah Treble (1999–sekarang)
United memenangkan liga tahun 2000 dan 2001, tetapi mereka gagal meraih kembali trofi kompetisi Eropa. Pada tahun 2000, Manchester United menjadi salah satu dari 14 pendiri kelompok G-14.[12] Ferguson mengadopsi gaya permainan bertahan dan tetap gagal di kompetisi Eropa dan United menyelesaikan liga pada urutan ketiga klasemen. Mereka meraih kembali gelar liga musim berikutnya dan memulai musim dengan sangat baik, namun penampilan mereka memburuk ketika Rio Ferdinand menerima skorsing 8 bulan karena gagal dalam tes doping. Mereka memenangkan Piala FA 2004, setelah mengalahkan Millwall.
Musim 2004-05, produktivitas gol United berkurang, yang disebabkan oleh cederanya Ruud van Nistelrooy dan United menyelesaikan musim tanpa meraih satu gelar pun. Kali ini, Piala FA dimenangkan oleh Arsenal yang mengalahkan United melalui adu penalti. Di luar lapangan, cerita utamanya adalah kemungkinan klub diambil alih oleh pihak lain dan pada akhir musim, Malcolm Glazer, seorang pengusaha asal Tampa, telah memiliki kepemilikikan United.


Giggs pemain dengan jumlah pertandingan terbanyak untuk United.
United melakukan awal buruk pada musim 2005–06, dengan kepergian Roy Keane yang bergabung dengan Celtic setelah United banyak dikritik publik dan klub gagal melewati babak knock-out Liga Champions untuk pertama kalinya dalam satu dekade setelah kalah dari tim asal Portugal, Benfica. Musim ini adalah musim yang buruk bagi United karena pemain kunci mereka seperti, Gabriel Heinze, Alan Smith, Ryan Giggs dan Paul Scholes cedera. Mereka hanya meraih satu gelar musim itu, Piala Liga, mengalahkan tim promosi Wigan Athletic dengan skor 4–0. United memastikan tempat di urutan kedua klasemen liga dan lolos otomatis ke Liga Champions setelah mengalahkan Charlton Athletic 4–0. Akhir musim 2005–06, satu dari penyerang kunci, Ruud van Nistelrooy, meninggalkan klub dan bergabung dengan Real Madrid, karena hubungannya dengan Alex Ferguson retak.[13]
Musim 2006-07 memperlihatkan gaya permainan United yang menyerang seperti pada dekade 90-an, mencetak 20 gol lebih di 32 pertandingan. Pada Januari 2007, United mendapatkan Henrik Larsson dengan status pinjaman selama 2 bulan dari Helsingborgs, dan pemain itu memiliki pera penting dalam pencapaian United di Liga Champions,[14] dengan harapan meraih Treble kedua; namun setelah mencapai babak semi-final, United kalah dari A.C. Milan 3–5(agregat).[15]
Dalam perayaan ke-50 keikutsertaan Manchester United dalam kompetisi Eropa, dan juga perayaan ke-50 dari Treaty of Rome, Manchester United bertanding melawan Marcello Lippi dan tim Eropa XI di Old Trafford pada 13 Maret 2007. United memenangkan pertandingan 4–3.[16]
Empat tahun setelah gelar terakhir mereka, United meraih kembali gelar juara liga pada 6 Mei 2007, setelah Chelsea bermain imbang dengan Arsenal, meninggalkan the Blues tujuh poin di belakang dengan menyisakan 2 pertandingan, diikuti kemenangan United 1–0 dalam derbi Manchester hari sebelumnya, mengantarkan United ke gelar kesembilan Premiership-nya dalam 15 tahun eksistensinya. Namun, mereka tidak dapat mencapai double keempat mereka, karena Chelsea mengalahkan United 1-0 di final Piala FA 2007 yang berlangsung di Stadion Wembley yang baru.
Berkas:Manchester united 2007-2008 champion.jpg
Para pemain Manchester United mengangkat trofi liga inggris saat memenangkan Liga Utama Inggris tahun 2008
Pada 11 Mei 2008, United kembali meraih gelar liga setelah mengalahkan Wigan 2-0 di pertandingan terakhir untuk memastikan gelar tersebut, disusul gelar Liga Champions pada tanggal 21 Mei 2008 yang diraih dengan mengalahkan Chelsea 6-5 di final melalui adu penalti setelah bermain seri 1-1 di waktu normal 2x45 menit serta perpanjangan waktu 2x15 menit. Dengan status sebagai juara Liga Champions tersebut, United berhak mengikuti Piala Dunia Antarklub FIFA 2008 dan berhasil menjuarai turnamen tersebut setelah mengalahkan Gamba Osaka 5-3 di semifinal dan LDU Quito 1-0 di final. United pun menjadi klub Eropa kedua yang menjadi juara dunia setelah AC Milan pada 2007. Setahun setelah final Liga Champions UEFA tahun 2008, Manchester United masuk kembali ke final tahun 2009. Manchester United kemudian mengalami kekalahan dalam final Liga Champions UEFA 2008–09, saat menghadapi Barcelona dengan skor 2 – 0 di Roma, Italia.
[sunting]Lambang dan warna klub



Badge Manchester United dari tahun 1960an hingga awal 1970a
Ketika nama tim masih Newton Heath, seragam tim berwarna hijau-kuning. Pada tahun 1902, sehubungan dengan pergantian nama menjadi Manchester United, klub mengganti warna seragam mereka menjadi merah (kaos), putih (celana), dan hitam (kaos kaki), yang menjadi standar seragam MU sampai saat ini. Pengecualian ketika tim bertanding di Final Piala FA tahun 1909 melawan Bristol City, kaos berwarna putih berkerah merah berbentuk V. Desain seragam ini kembali digunakan saat 1920-an ketika seragam tim berwarna merah-merah.
Kostum tandang biasanya adalah kaos putih, celana hitam, dan kaos kaki putih, tetap warna lain juga pernah digunakan, termasuk kaos biru bergaris putih yang digunakan dari tahun 1903 sampai 1916, hitam seluruhnya pada 1994 dan 2003 dan kaos biru dengan garis horisontal perak pada tahun 2000. Satu yang paling terkenal, hanya dipakai sebentar, kostum tandang United yang berwarna keseluruhan abu-abu dipakai pada musim 1995–96. Kostum ini tidak digunakan lagi saat MU kalah pada pertandingan pertama pemakaian kostum ini. Pada babak pertama, MU kalah 3-0 dari Southhampton, mereka mengganti seragam yang mereka kenakan menjadi seragam ketiga mereka yang berwarna biru-putih, tetapi pada akhirnya kalah 3–1. Seragam abu-abu tidak pernah lagi digunakan akibat hasil buruk yang mereka dapat pada pertandingan pertama dengan seragam abu-abu itu.[17][18] Seragam tandang MU yang terkenal lainnya adalah kaos putih dengan lengan hitam dan garis emas-hitam. Seragam ini adalah seragam terakhir yang didesain Umbro sebelum MU memilih produsen Nike, dan memperingati 100 tahun pergantian nama dari Newton Heath F.C menjadi Manchester United.
Kostum ketiga United berwarna biru, yang dikenakan pemain saat memenangkan Piala Champions 1968. Pengecualian, kostum kuning terang yang digunakan pada awal 1970-an, seragam biru bergaris putih yang dipakai 1996, dan kaos putih bergaris merah-hitam yang dipakai pada 2004. United juga menggunakan kostum ketiga untuk latihan. United mengadopsi warna kostum hitam keseluruhan pada musim 1998–99 dan kaos biru tua dengan pinggiran marun pada tahun 2001 untuk bertanding melawan Southampton dan PSV Eindhoven.
Lambang Manchester United telah diganti beberapa kali, tetapi perubahan yang dilakukan tidak terlalu signifikan. Setan yang terletak di tengah lambang merupakan akar dari julukan "Setan Merah" (The Red Devils), yang muncul di era 1960-an setelah Matt Busby mendengar itu dari fans tim rugbi Salford.[19] Pada akhir 60-an, lambang setan telah mulai untuk dimasukkan pada brosur program dan syal klub, hingga akhirnya dimasukkan ke dalam lambang klub dengan memegang trisula. Di 1998, logo kembali didesain ulang, kali ini menghilangkan tulisan "Football Club".[20] Perubahan ini bertentangan dengan pendapat suporter, yang memandang bahwa MU semakin menjauhi akar sepak bola dan perubahan ini hanya untuk kepentingan bisnis semata.
[sunting]Tour

[sunting]Asia Tour 2009


Pada tahun 2009 lalu, Manchester United menggelar tur di Asia. Manchester United akan mengunjungi 4 negara,yaitu :
Malaysia
Indonesia (Pada tanggal 17 Juli 2009. 3 hari sebelum datang ke Jakarta, terjadi Bom Kuningan 2009 di Hotel JW Marriott dan Ritz-Carlton di Jakarta. Karena hal ini MU membatalkan turnya ke Jakarta).
Cina
Korea Selatan
[sunting]Tour 2010


pada 6 Juli 2010 , Manchester United kembali mengadakan Tur di Amerika Selatan . Manchester United Akan Melawan 4 tim dari 2 negara yaitu
Amerika Serikat
Kanada
[sunting]Tour 2011
Akan digelar pada Juli 2011 di Amerika Serikat dan akan melawan tim-tim berikut[21]:
New England Revolution (13 Juli)
Seattle Sounders (20 Juli)
Chicago Fire (23 Juli)
MLS All-Stars (27 Juli)
FC Barcelona (30 Juli)

Pengurus klub

Pemilik: Malcolm Glazer
Presiden Direktur: Martin Edwards
Manchester United Limited
Chairman: Joel Glazer & Avram Glazer
Direktur: Bryan Glazer, Kevin Glazer, Edward Glazer & Darcie Glazer
Pimpinan Eksekutif: David Gill
Chief Operating Officer: Michael Bolingbroke
Direktur Komersial: Richard Arnold
Klub sepak bola Manchester United
Direktur: David Gill, Michael Edelson, Sir Bobby Charlton, Maurice Watkins
Sekretaris Klub: Ken Ramsden
Asisten Sekretaris Klub: Ken Merrett
Staf tim senior
Sekretaris Perusahaan: Patrick Stewart
Asisten Sekretaris Perusahaan: Ken Ramsden
Direktur Komunikasi: Phil Townsend
Direktur Komersial: Ben Hatton
Direktur Pemasaran: vacant
Direktur Servis Finansial: Steve Falk
Direktur Finansial dan TI: Steve Deaville
Direktur Fasilitas: Clive Snell
Staf kepelatihan dan medis
Manajer: Sir Alex Ferguson
Asisten Manajer: Mike Phelan
Pelatih Tim Utama: René Meulensteen
Pelatih Kiper: Eric Steele
Pelatih Kebugaran: Tony Strudwick
Pelatih Fisik: Mick Clegg
Manajer Tim Cadangan: Ole Gunnar Solskjær
Pelatih Tim Cadangan: Warren Joyce
Pimpinan Pencari Bakat: Jim Lawlor
Pimpinan Pencari Bakat Eropa: Martin Ferguson
Direktur Akademi: Brian McClair
Direktur Sepak Bola Muda: Jimmy Ryan
Staf Kepelatihan Akademi
Asisten Direktur untuk usia 17–21 tahun: Paul McGuinness
Asisten Direktur untuk usia 9–16 tahun: Tony Whelan
Pelatih Kepala U-18: Paul McGuinness
Pelatih Kepala U-16: Mark Dempsey
Pelatih Kepala U-12: Tony Whelan
Pelatih Kepala U-10: Eamon Mulvey
Pelatih Pengembangan Teknik: René Meulensteen
Pelatih Kiper: Richard Hartis
Pelatih Akademi: Eddie Leach, Tommy Martin, Mike Glennie & Andy Welsh
Staf Medis
Dokter Tim: Dr. Steve McNally
Asisten Dokter Tim: Dr. Tony Gill
Ahli fisioterapi Tim Utama: Rob Swire
Ahli fisioterapi Tim Cadangan: Neil Hough
Ahli fisioterapi Akademi Senior: Mandy Johnson
Ahli fisioterapi Akademi: John Davin & Richard Merron
Pemijat: Gary Armer & Rod Thornley
Pengatur Makanan Tim: Trevor Lea

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Alex Ferguson
Dari Wikipedia bahasa Indonesia, ensiklopedia bebas
Belum Diperiksa
Alex Ferguson
Sir Alex Ferguson
Informasi Pribadi
Nama lengkap Alexander Chapman Ferguson
Tanggal kelahiran 31 Desember 1941 (umur 69)
Tempat kelahiran Glasgow, Skotlandia
Posisi bermain Striker (telah pensiun)
Informasi klub
Klub saat ini Manchester United (pelatih)
Karier senior*
Tahun Tim Tampil (Gol)
1957–1960
1960–1964
1964–1967
1967–1969
1969–1973
1973–1974 Queen's Park
St. Johnstone
Dunfermline Athletic
Rangers
Falkirk
Ayr United
Total 32 (11)
37 (19)
88 (66)
41 (25)
106 (37)
24 (9)
327 (167)
Kepelatihan
1974
1974–1978
1978–1986
1985–1986
1986– East Stirlingshire
St. Mirren
Aberdeen
Skotlandia
Manchester United
* Penampilan dan gol di klub senior hanya dihitung dari liga domestik .

Sir Alexander Chapman "Alex" Ferguson CBE (lahir 31 Desember 1941 di Govan, Glasgow) adalah seorang pelatih dan mantan pemain sepak bola berkebangsaan Skotlandia, yang saat ini sedang menangani Manchester United F.C., di mana dia telah bertugas lebih dari 1000 pertandingan. Dianggap sebagai salah satu pelatih terbaik dalam permainan, dia telah memenangkan lebih banyak trofi daripada pelatih manapun sepanjang sejarah sepak bola Inggris. Dia telah menangani Manchester United sejak tanggal 6 November 1986 sampai sekarang, menggantikan Ron Atkinson. Di Manchester United, Sir Alex menjadi pelatih tersukses dalam sejarah sepak bola Inggris, dengan memimpin tim memenangkan 10 gelar juara liga. Pada 1999, dia menjadi pelatih pertama yang membawa tim Inggris meraih treble dari Liga Utama, Piala FA and Liga Champions UEFA. Juga menjadi satu-satunya pelatih yang memenangkan Piala FA sebanyak 5 kali, Fergie juga menjadi satu-satunya pelatih yang berhasil memenangkan gelar Liga Inggris sebanyak 3 kali berturut-turut bersama tim yang sama (1998-1999, 1999-2000 and 2000-2001). Pada 2008, dia bergabung bersama Brian Clough (Nottingham Forest) dan Bob Paisley (Liverpool) sebagai pelatih Britania yang pernah memenangkan kejuaraan Eropa sebanyak lebih dari satu kali.
Awal karier

Alexander Chapman Ferguson lahir dari pasangan Alexander Beaton Ferguson, seorang buruh pekerja galangan kapal dengan Elizabeth Hardie. Ia menghabiskan masa kecilnya di daerah Govan,Skotlandia bersama adiknya Martin Ferguson.
[sunting]Karier Klub

Karier sepak bola Ferguson dimulai ketika ia bergabung dengan klub amatir Queens Park pada umur 16 tahun. Berposisi sebagai striker ia mencetak 20 gol pada musim debutnya dan pindah pada musim berikutnya ke klub amatir St. Johnstone. Di klub barunya, Ferguson mengejutkan publik dengan mencetak hattrick melawan klub idolanya Glasgow Rangers. Performanya membuat ia dikontrak profesional oleh Dunfermline. Pada musim pertamanya Ferguson berhasil mencapai final Piala Skotlandia melawan Glasgow Celtic akan tetapi kalah 3-2. Ferguson sendiri tidak tampil dalam final karena penampilan buruknya ketika melawan St. Jonstone pada pertandingan sebelumnya. Musim keduanya bersama Dunfermline, ia berhasil keluar sebagai pencetak gol terbanyak Liga Skotlandia bersama Joe McBride dengan 31 gol. [1]. Prestasi ini akhirnya mengantarkan Ferguson ke klub impiannya sejak kecil, Glasgow Rangers. Masa-masa di Rangers ternyata tidak menyenangkan Ferguson. Ia sering dicadangkan dan berlatih dengan tim junior. Hal ini membuat Fergie tidak betah dan hanya bertahan 2 musim bersama Rangers. Ia kemudian ditawari pindah oleh klub Inggris, [[Nottingham Forest]].[2] akan tetapi istrinya, Cathie tidak menyetujui kepindahan mereka ke Inggris. Ia lalu memilih untuk pindah ke klub Falkirk. Ferguson dipromosikan sebagai pelatih merangkap pemain. Namun tak lama kemudian jabatannya digantikan oleh John Prentice. Ferguson kemudian memilih untuk pindah ke Ayr United dimana ia bermain disana sampai pensiun sebagai pemain pada 1974. Sebagai pemain Ferguson telah mencetak total 170 gol dalam 317 pertandingan.
[sunting]Karier Manajerial

[sunting]East Stirlingshire (1974)
Pada bulan Juni tahun 1974, sesaat setelah ia pensiun sebagai pemain, Ferguson ditunjuk sebagai manajer paruh waktu unutk East Stirlingshire pada usia 32 tahun. Kariernya di East Stirlingshire hanya bertahan sebentar karena pada bulan Oktober 1974 ia menerima pinangan St. Mirren untuk menjadi manajer [3].
[sunting]St. Mirren (1974-1978)
Kariernya di St. Mirren berlangsung gemilang, selama 4 musim menangani klub tersebut (1974-1978). Ferguson mengangkat klub kecil yang tadinya hanya ditonton oleh 1000 orang dalam pertandingan kandanganya itu menjadi juara Liga Skotlandia pada musim 1977 dengan permainan menyerangnya. Selain itu ia berjasa dalam menemukan bakat-bakat muda dalam diri Billy Stark, Tony Fitzpatrick, Bobby Reid dan Peter Weir. Kesuksesan Ferguson dalam mengangkat St. Mirren ternyata berujung pada pemecatan pada tahun 1978 karena konflik internal antara Ferguson sendiri dengan staffnya.[4] Presiden klub St. Mirren, Willie Todd bahkan mengatakan bahwa Ferguson "tidak mempunyai kemampuan manajerial yang baik". Dengan demikian St. Mirren adalah klub satu-satunya yang pernah memecat Ferguson sepanjang karier manajerialnya.
[sunting]Aberdeen (1978-1986)
Ferguson menjadi manajer Aberdeen menggantikan Billy McNeil yang pindah ke Glasgow Celtic, ia diharapkan untuk mengembalikan masa kejayaan Aberdeen yang menjuarai Liga Skotlandia terakhir kali pada 1955. Namun karena usia Ferguson yang terbilang cukup muda (36 tahun) tetap saja ia kesulitan meraih respek dari para pemain yang beberapa diantaranya lebih tua dari manajer mereka sendiri. Pada musim debutnya, Aberdeen meraih peringkat ke 4 walaupun tidak pernah kalah sebelum Desember 1978. Ferguson juga membawa Aberdeen ke semifinal Piala Skotlandia dan Piala Liga Skotlandia. Pada musim berikutnya Aberdeen kembali kalah dalam final ajang Piala Liga Skotlandia oleh Dundee United setelah pertandingan replay. Ferguson menyalahkan dirinya sendiri yang seharusnya mengubah taktik dan komposisi pemain dalam pertandingan replay tersebut. Setelah pertandingan final itu, performa Aberdeen mengalami peningkatan sampai mereka menjadi juara Liga Skotlandia pada akhir musim 1979/80. Hal ini membuat Ferguson mendapatkan kepercayaan dan respek dari para pemain dan direktur klub. Ia tetap menjadi manajer yang penuh disiplin sehingga pemain-pemainnya menjulukinya "Furious Fergie" atau "Fergie yang Galak". Ia bahkan pernah mendenda salah satu pemainnya, John Hewitt karena mendahuluinya ketika mengendarai mobil di jalan. Ia juga pernah menendang sebuah teko teh kepada para pemainnya saat mereka tampil buruk dalam babak pertama. Ferguson juga menuduh pers mengutamakan 2 klub saja (Rangers dan Celtic) dalam pemberitaannya. Aberdeen terus meraih sukses dalam musim-musim berikutnya. Diantaranya meraih Piala Skotlandia pada musim 1981/82. Trofi ini mengantarkan Aberdeen unutk berpartisipasi lagi dalam ajang Eropa, kali ini di ajang Piala Winners. Performa Fergie bersama Aberdeen mendapat sorotan media setelah mereka secara mengejutkan menyingkirkan Bayern Munich setelah klub itu mengalahkan Tottenham Hotspur 4-1 dalam ronde sebelumnya. Kesuksesan ini mendatangkan kepercayaan diri pada skuab Aberdeen yang percaya mereka dapat meraih sukses dalam ajang Piala Winners. Hal yang menjadi kenyataan ketika pada 11 Mei 1983 mereka sukses mengalahkan raksasa Spanyol, Real Madrid 2-1 dalam final. Aberdeen menjadi klub ketiga Skotlandia yang meraih sukses Eropa setelah Rangers dan Celtic. Dalam kompetisi domestik Aberdeen berhasil mempertahankan mahkota juara Piala Skotlandia dengan kemenangan 1-0 atas Rangers di final. musim berikutnya Aberdeen kembali meraih gelar juara Piala Skotlandia untuk ke tiga kalinya secara berturut-turut, dan meraih gelar juara Liga Skotlandia. Hal ini membuat Ferguson dianugerahi gelar OBE pada 1984. [5] Fergie kembali membawa Aberdeen mempertahankan gelar juara Liga Skotlandia pada musim 1984-85. Musim berikutnya (1985/86) mereka gagal dalam ajang Liga, posisi 4 dalam klasemen, walaupun mereka meraih juara Piala Liga dan Piala Skotlandia pada tahun yang sama. Pada musim yang sama, Ferguson adalah salah satu staf pelatih dalam tim nasional Skotlandia ketika menghadapi ajang Piala Dunia 1986. Namun meninggalnya pelatih utama mereka, Jock Stein, membuat Ferguson ditunjuk menjadi pelatih utama Skotlandia pada Piala Dunia 1986. Ia kemudian menunjuk Archie Knox menjadi asisten manajer yang mana adalah juga asistennya di Aberdeen. Karena jasa-jasanya di Aberdeen, Ferguson kemudian diusulkan untuk menjadi salah satu direktur di klub tersebut, namun Fergie menolaknya dan mengatakan bahwa ia berniat untuk pindah dari Aberdeen pada akhir musim 1985/86. Walaupun ia tetap berada bersama Aberdeen pada awal musim 1986/87, namun pada November 1986, Ferguson akhirnya menerima pinangan Manchester United untuk menjadi manajer mereka menggantikan jabatan yang dipegang Ron Atkinson.
[sunting]Manchester United (1986-sekarang)
[sunting]Awal Karier di Manchester United


Pusat Latihan Manchester United, The Cliff
Awal kariernya di Old Trafford tidaklah semulus yang ia kira. Saat itu MU terbelit dalam masalah alkohol yang kritis. Beberapa pemain andalan mereka (Norman Whiteside, Paul McGrath dan Bryan Robson), mempunyai hobi menenggak minuman keras dan mempunyai level kebugaran yang "menyedihkan". Ferguson, bersama-sama dengan Archie Knox yang diangkat menjadi asisten manajer saat itu, secara perlahan-lahan mengubah kebiasaan buruk itu dan menanamkan disiplin ketat bagi para pemain, hal yang masih berlaku sampai saat ini di MU. Pertandingan debutnya berakhir dengan kekalahan 2-0 atas klub underdog, Oxford United. Diikuti oleh hasil imbang 0-0 7 hari berikutnya melawan Norwich City. Kemenangan pertama United dibawah asuhan Fergie hadir pada 22 November 1986 ketika Red Devils mengalahkan Queens Park Rangers 1-0 di Old Trafford. Selain itu Fergie juga berhasil memenangkan pertandingan tandang satu-satunya yang mereka raih musim itu. Yang istimewa, lawan mereka adalah rival abadi United, Liverpool pada Boxing Day, hal yang mana telah dijanjikan oleh Fergie ketika konferensi pers pertamanya sebagai manajer United yaitu "akan menggantikan Liverpool sebagai klub Inggris paling dominan mulai saat ini". Dalam musim perdananya di United, Fergie membawa MU duduk di peringkat 11, setelah sebelumnya mereka sempat terdampar di peringkat 21. Musim berikutnya Ferguson mendatangkan beberapa pemain baru untuk membela United. Mereka adalah Steve Bruce, Viv Anderson, Brian McClair dan kiper Jim Leighton. Dengan tambahan pemain-pemain baru ia meraih posisi 2 dibelakang Liverpool yang menjadi juara Liga Inggris. Musim 1988/89 Ferguson kembali mendatangkan pemain baru, kali ini Mark Hughes yang kembali bergabung dengan United setelah penampilan mengecewakan selama 2 tahun di FC Barcelona. United diunggulkan untuk menjadi juara pada musim itu namun penampilan mereka mengecewakan dan akhirnya kembali terdampar di posisi 11 pada klasemen akhir. Pada awal musim, United tampil dalam partai persahabatan melawan tim nasional Bermuda dan Somerset County dimana Fergie turun sebagai salah satu pemain saat laga melawan Somerset. Ini merupakan satu-satunya penampilan Fergie berseragam Setan Merah dalam pertandingan.
[sunting]Awal Kejayaan


Ferguson di Old Trafford
Musim 1989/90, Ferguson kembali mendatangkan pemain baru ; Paul Ince, Mike Phelan, Neil Webb dan bek Gary Pallister. Pada awal musim United berhadapan dengan juara bertahan Arsenal dimana Setan Merah berhasil menang 4-1 namun performa United menurun dan setelah kekalahan memalukan 5-1 dari rival sekota Manchester City, spanduk yang meminta Fergie untuk mundur mulai bermunculan di Old Trafford. Fergie sendiri menggambarkan bulan Desember 1989 adalah "masa-masa tergelap selama kariernya dalam dunia sepak bola" dimana United manjadi salah satu calon klub yang akan mengalami degradasi dari Liga Inggris. Dewan direktur klub tetap mempercayai Fergie sebagai manajer. Mereka bisa mentoleransi penampilan buruk klub karena beberapa pemain kunci cedera dan mereka juga puas atas peran serta Ferguson yang mengubah sistim pelatihan dan pencarian bakat di United. Kepercayaan dewan direksi klub dijawab Ferguson dengan kemenangan 1-0 pada final replay Piala FA melawan Crystal Palace yang saat itu diperkuat oleh Ian Wright. Raihan trofi ini adalah yang pertama untuk Fergie selama menangani United dan disebut-sebut sebagai trofi penyelamat kariernya di MU. Pada awal musim 1990/91 Fergie mendatangkan kiper asing dari Denmark, Peter Schmeichel untuk mengawal gawang United dan Andrei Kanchelskis untuk mengisi pos sayap kanan. Raihan trofi pertama membuat para fans berharap banyak pada musim berikutnya 1990/91, dimana sekali lagi United menghadirkan performa impresif ketika mengalahkan Arsenal di Highbury, 6-2. Namun performa yang kurang konsisten membuat United menderita kekalahan dari klub gurem Sunderland, Liverpool juga mengalahkan mereka 4-0 di stadion Anfield diikuti kekalahan dari klub sekota Liverpool, Everton di Old Trafford, 2-0. Kekalahan melawan Everton ini merupakan debut dari sayap kiri muda yang fenomenal, Ryan Giggs di tim utama setelah dipromosikan oleh Fergie dari skuad junior mereka. Performa inkonsisten mereka di Liga Inggris ternyata tidak berpengaruh pada penampilan mereka dalam ajang eropa. United melaju hingga partai final yang mempertemukan mereka dengan FC Barcelona dalam ajang Piala Winners dimana Setan Merah mengalahkan wakil Spanyol itu 2-1. Sayangya United kembali mengalami kegagalan pada musim berikutnya, walaupun sukses dalam ajang Piala Liga dan Piala Super Eropa, United gagal mempertahankan performa mereka dalam kompetisi domestik. Setelah gagal merekrut Alan Shearer, United mendatangkan striker Dion Dublin pada musim panas 1992. Penampilan sayap kiri muda Ryan Giggs semakin impresif setelah Fergie melepas Lee Sharpe, yang berposisi sama dengan Giggs, pada musim 1990/91 . Dengan skuad yang ada saat itu, fans United mulai yakin akan performa Setan Merah dalam meraih trofi pertama mereka sejak musim 1966/67. Setelah performa buruk pada paruh pertama musim (peringkat 10 dari 22 klub), Fergie mendatangkan pemain baru pada Januari 1993, Eric Cantona (yang menjuarai Liga Inggris musim sebelumnya bersama rival United, Leeds United) sebesar £1.2 Juta. Penampilan Cantona bersama Mark Hughes di lini depan dan mental juaranya yang kental, langsung berimbas pada performa United secara keseluruhan yang langsung melejit memuncaki daftar klasemen dengan keunggulan 10 poin dari peringkat 2 Aston Villa dan akhirnya menjadi juara Liga Premier Inggris yang pertama kalinya. Ini juga trofi Liga Inggris yang ke 8 sepanjang sejarah klub dan menjadi trofi Liga pertama untuk Fergie sejak ia datang sebagai manajer United pada 1986. Musim 1993/94 Ferguson memperkuat skuad United dengan mendatangkan gelandang emosional, Roy Keane dari Nottingham Forest sebesar £3.75 juta sebagai calon pengganti kapten United saat itu, Bryan Robson yang mulai memasuki masa pensiun. United langsung memimpin klasemen liga dari awal musim sampai akhir musim 1993/94. Cantona menjadi pencetak gol terbanyak dengan 25 gol. (Walaupun 2 kali terkena kartu merah dalam jangka waktu 5 hari). Fergie juga memimpin United tampil dalam final ajang Piala FA dengan mengalahkan Chelsea 4-0. Ini merupakan gelar double pertama di United setelah dulu pernah mencapai prestasi serupa di Aberdeen.
[sunting]Skuad angkatan 1992


Ryan Giggs anggota skuad '92 menjadi pemain terbanyak yang tampil untuk United
Musim 1994/95 merupakan ujian berat bagi Fergie, karena Cantona harus absen selama 8 bulan karena menendang seorang suporter Crystal Palace di Selhurst Park, kandang Palace. Selain larangan tampil selama 8 bulan, Cantona juga mendekam di penjara selama 12 hari dan harus menjalankan tugas sosial selama 120 jam. Untuk mengisi posisi Cantona, maka United mentransfer Andy Cole dari Newcastle United sebesar £7 juta plus Keith Gillespie untuk Newcastle. Selain itu musim ini juga menjadi musim debut para pemain muda dari skuad 1992 yang menjuarai Piala FA Junior : Paul Scholes, Gary Neville, Nicky Butt dan David Beckham setelah sebelumnya Ryan Giggs (yang berpromosi dari skuad 92) telah mendapat tempat reguler dalam tim inti United. Namun United gagal mempertahankan gelar juara setelah imbang 1-1 melawan West Ham United pada pertandingan terakhir musim itu. Fergie juga gagal dalam final Piala FA dari Everton 1-0. Musim berikutnya (1995/96) Fergie mengejutkan para fans dengan melepas beberapa pemain inti United. Paul Ince di transfer ke Inter Milan sebesar £7.5 juta, diikuti oleh Mark Hughes yang dilepas ke Chelsea sebesar £1.5 juta dan terakhir Andrei Kanchelskis ke Everton. Pertandingan pertama United membuat dugaan media dan fans mereka seperti terbukti, kalah oleh Aston Villa 3-1, United dicap "tidak akan memenangkan apapun dengan skuad belia". Para pemain belia itu menunjukkan bukti sebaliknya dengan memenangkan 5 pertandingan berturut-turut, termasuk membalaskan dendam kepada Everton, 3-2 setelah gagal dalam final Piala FA dan menang 2-1 atas juara bertahan yang terpuruk di dasar klasemen, Blackburn Rovers. Pada Desember 1995, kembalinya Cantona memperbaiki performa United di liga, dimana mereka tertinggal 10 poin dari kandidat juara, Newcastle United. Sampai pada Januari 1996 jarak poin itu pun mengecil dengan hanya selisih 1 poin saja setelah Setan Merah menang pada pertandingan tandang 1-0 melawan sesama kandidat juara, Newcastle. Pada akhir musim pasukan belia United sukses meraih gelar juara Liga Inggris setelah menuntaskan perlawan Middlesbrough yang dimanajeri mantan kapten United, Bryan Robson 3-0. Fergie juga meraih gelar Piala FA mengalahkan Liverpool 1-0, lewat gol Cantona. Musim 1996/97 Fergie mendatangkan seorang striker belia dari Norwegia, Ole Gunnar Solskjaer yang akhirnya secara mengejutkan menjadi top skorer klub pada akhir musim serta seorang bek bernama Ronny Johnsen. Awal musim dimulai lewat penampilan impresif gelandang kanan dari United, David Beckham, yang memakai kostum no. 10 milik Mark Hughes, lewat gol dari tengah lapangan melawan Wimbledon. United menang 2-0. Setan Merah kembali berhasil meraih gelar juara Liga Premier Inggris ke 4 mereka dalam 5 musim, menegaskan dominasi United dalam ajang Liga Premier Inggris. Dalam pertandingan di kancah Liga Champion mereka berhasil mencapai semfinal sebelum dikalahkan oleh wakil Jerman, Borussia Dortmund yang akhirnya menjadi juara pada musim itu. Pada akhir musim ini, Eric Cantona, kapten United saat itu, mengumumkan pengunduran dirinya sebagai pemain dengan alasan sudah kehilangan motivasi dan gairah dalam bermain sepak bola. Jabatan sebagai kapten United saat itu dialihkan kepada gelandang emosional, Roy Keane sementara kiper Peter Schmeichel sebagai wakil kapten. Nomor kostum 7 milik Cantona diserahkan kepada David Beckham yang saat itu mulai menanjak performa dan popularitasnya bersama United.
[sunting]The Treble


Ferguson dengan mantan asistennya Carlos Queiroz
Mengawali musim 1997/98 dengan skuad belia yang makin matang, Fergie menambah kedalaman skuad dengan mentransfer striker Inggris, Teddy Sheringham, yang memakai kostum no. 10 milik Beckham, untuk mengisi posisi yang ditinggalkan Cantona dan bek Henning Berg dari Norwegia. Musim ini berakhir dengan kegagalan bagi United dalam semua ajang.
Pada musim panas 1998, Fergie kembali mentransfer seorang striker, Dwight Yorke dari Aston Villa, bek tangguh dari Belanda, Jaap Stam dan winger serba bisa Jesper Blomqvist dengan total nilai transfer mencapai hampir £30 juta. Dengan kedalaman skuad United mereka, Setan Merah mencapai kesuksesan mereka pada musim ini dengan raihan 3 trofi juara dalam semusim (dikenal dengan nama "The Treble") lewat beberapa pertandingan yang meguras emosi Fergie. Pertama adalah saat United berhadapan dengan Juventus di semi final Liga Champion. Menit-menit awal merupakan mimpi buruk bagi United ketika Juve unggul dengan 2-0, namun lewat penampilan heroik sang kapten United, Roy Keane, Setan Merah berhasil membalikkan keadaan dengan unggul 3-2 dan melaju ke final pertama mereka di ajang Liga Champion sejak tahun 1968. Keane sendiri, bersama Paul Scholes, gagal tampil dalam laga final melawan Bayern Munich. Pada ajang semifinal Piala FA, Keane dikartu merah saat melawan rival domestik United, Arsenal dan menyebabkan pinalti pada menit-menit akhir laga. Peter Schmeichel kemudian tampil sebagai pahlawan dengan menghadang pinalti tersebut dan Ryan Giggs mencetak gol sensasional penutup laga setelah sendirian ia mendribel bola melewati sebagian pemain Arsenal. United kemudian memenangkan final Piala FA setelah mengalahkan Newcastle United lewat gol Sheringham dan Scholes, 2-0. Sebelum Final Piala FA Fergie telah memastikan diri sebagai Juara Liga Inggris. Laga final Liga Champion diawali lewat gol Bayern Munich pada menit-menit awal. Pada saat turun minum, Fergie memompa semangat skuadnya dan memasukkan 2 striker, Sheringham dan Solskjaer untuk mengejar ketinggalan dari Bayern. Pilihan Fergie terbukti jitu, saat laga memasuki 3 menit tambahan (injury time), Beckham melambungkan bola dari sepak pojok yang kemudian disambar oleh Teddy Sheringham, 1-1. Bayern yang dalam tekanan hebat dari United kembali terkena sepak pojok, yang kembali diambil oleh Beckham. Bola lambung dari Beckham kali ini diarahkan ke mulut gawang Bayern yang dijaga oleh Oliver Kahn, yang tidak mengantisipasi pergerakan Solskjaer di depan gawangnya. Umpan itu pun disontek pelan oleh Solskjaer ke dalam gawang Bayern sehingga membalikkan keadaan menjadi 2-1 pada menit tambahan ke 3. Pita merah-hitam yang melambangkan warna seragam Bayern, yang telah melilit Piala Liga Champion pun diganti oleh warna merah-putih, warna kebesaran Manchester United. Pada akhir musim Alex Ferguson dianugerahi gelar kebangsawanan Inggris, namanya pun resmi menjadi Sir Alex Ferguson.[6]. Musim ini juga menjadi musim terakhir bagi Peter Schmeichel di United, ia memilih pindah ke klub liga Portugal, Sporting Lisbon. Fergie kemudian mengambil Mark Bosnich dari Aston Villa untuk menggantikan posisi Schemeichel.
Pada musim 1999/00 dominasi United bersama Fergie semakin terlihat di klasemen akhir Liga Inggris, dimana Setan Merah unggul jauh atas rival mereka dengan 18 poin. Pada Desember 1999 United meraih trofi Piala Toyota mereka yang pertama dalam sejarah klub dengan mengalahkan Palmeiras di final. Giggs keluar sebagai pemain United pertama yang meraih gelar pemain terbaik pada ajang ini. Kepiwaian Fergie dalam mengembangkan United sebagai merek global tutur mendongkrak performa klub pada ajang kompetisi. Hal ini membuat United menjadi magnet bagi pesepak bola terbaik dunia untuk bergabung di Old Trafford. Pada akhir musim Fergie mendatangkan Ruud van Nistelrooy dari PSV Eindhoven seharga £18 juta, rekor pembelian pemain bagi klub Inggris saat itu, namun karena cedera maka United menunda kedatangan Nistelrooy setahun berikutnya. Fabien Barthez juga didatangkan dari AS Monaco senilai £7.8 juta, menjadikannya sebagai kiper termahal dunia saat itu. Barthez menggantikan posisi Bosnich dan Massimo Taibi sebagai kiper yang tampil buruk sepanjang musim. Musim 2000/01 diakhiri United dengan raihan Liga Premier Inggris untuk yang ketiga kalinya secara beruntun. Fergie jelas menjadi figur penting dalam raihan trofi United selama 3 musim terakhir. Namun performa United pada Liga Champion menemui kegagalan setelah kalah pada perempat final oleh Real Madrid pada musim 1999/00 dan Bayern Munich pada musim 2000/01. Pada akhir musim 2000/01 United mentransfer Juan Sebastián Verón dari Lazio senilai £28.1 juta. Verón menjadi pemain termahal yang pernah dibeli oleh Fergie saat itu.Ia bergabung bersama dengan van Nistelrooy yang telah sembuh dari cederanya tahun lalu.
[sunting]Masa Transisi


Beckham (23) and Zinedine Zidane(5) di Real Madrid pada Agustus 2003
Pada awal musim 2001/02 diwarnai dengan penjualan kontroversial bek Jaap Stam ke Lazio seharga £16 juta, yang mana membuat keseimbangan skuad Fergie terganggu. Absennya Stam di lini belakang United tidak mampu ditutupi oleh bek United lainnya dan keputusan ini pun disesali kemudian oleh Ferguson yang kerepotan mencari suksesor sang bek. Performa United menukik tajam dengan menempati peringkat 9 pada paruh musim. Performa United membaik seiring bergabungnya bek tua (36 tahun) Laurent Blanc dari Inter Milan pada Januari 2002 dan United pun menang dalam 8 laga Liga sehingga melaju ke peringkat atas Klasemen Liga. Namun hasil tersebut hanya bisa membawa United berakhir di peringkat 3 klasemen. Musim ini pun seharusnya menjadi musim terakhir Fergie menangani United karena faktor usia dan penurunan prestasi. Namun Fergie membatalkan niatnya unutk mundur dan tetap menangani United untuk 3 tahun ke depan. Pada akhir musim Fergie mencetak rekor pembeliannya selama menangani United dengan merekrut bek Tim Nasional Inggris, Rio Ferdinand sebesar £30 juta dari rival mereka Leeds United dan menjadikannya sebagai bek termahal dunia saat itu. Ferguson juga menunjuk Carlos Queiroz sebagai asisten manajer bagi United. Hasilnya terlihat pada musim 2002/03 dimana United berhasil menjadi juara Liga, dimana 2 bulan sebelum liga berhasil mereka tertinggal 8 angka dari kandidat juara Arsenal. Namun lewat penampilan tak terkalahkan sejak Desember, United berhasil meraih trofi juara Liga Inggris. Fergie sendiri sangat puas atas raihan trofi juara 2002/03 ini, karena kritikan tajam kepada Fergie sebelum awal musim yang dituduh telah kehilangan ambisi dalam menangani United. Pada akhir musim ini, Fergie secara mengejutkan melepas gelandang kanan United, David Beckham ke klub Spanyol, Real Madrid sebesar 35 juta Euro, menyusul insiden dimana Fergie, yang sedang mengamuk pada istirahat babak pertama ketika United berjumpa Arsenal dalam ajang Piala FA, secara tak sengaja menendang sepatu sehingga melukai pelipis kanan Beckham. Untuk mengisi posisi Beckham, Fergie secara tak terduga mentransfer seorang anak muda berbakat dari Sporting Lisbon, Cristiano Ronaldo sebesar £12.24 juta. Menjadikannya orang Portugal pertama yang bermain untuk United. Ia juga diberikan seragam no. 7 yang dulu dipakai oleh para legenda klub, seperti Beckham, Cantona dan George Best. Bulan Januari Fergie kembali mendatangkan striker Louis Saha unutk menggantikan posisi Solskjaer yang cedera. Musim itu berakhir dengan kegagalan United pada Liga Inggris dengan menempati posisi 3 klasemen akhir. Pada ajang Liga Champion United juga mengalami kegagalan di tangan FC Porto yang saat itu ditangani oleh Jose Mourinho. Pada akhir musim itu Fergie berhasil mentransfer bintang muda Inggris, Wayne Rooney dari Everton senilai £20 juta. Rooney menjadi target transfer sejumlah klub besar Eropa tapi Fergie berhasil meyakinkan Rooney unutk bergabung bersamanya di United. Tapi absennya striker utama, van Nistelrooy membuat Setan Merah finish di peringkat 3 selama 3 tahun beruntun. Pada akhir musim ini, Malcolm Glazer berhasil menguasai saham mayoritas dari Manchester United, hal ini mengundang gelombang protes dari para fans United yang khawatir biaya transfer pemain untuk United menjadi terbatas. Pada awal musim ini Fergie mendatangkan kiper sarat pengalaman, Edwin van der Sar dari Fulham dan gelandang serba bisa Park Ji Sung yang di transfer dari PSV. Musim ini merupakan musim transisi dari United, pada November 2005 Roy Keane memutuskan unutk hengkang dari United dab bergabung dengan Glasgow Celtic. Akibatnya United gagal melaju dari babak play-off Liga Champion. Nemanja Vidić dan Patrice Evra bergabung dengan skuad United pada bulan Januari 2006 dan Fergie berhasil membawa United menjadi runner-up Liga Inggris dibawah Chelsea dan menjuarai Piala Liga Inggris. Masa depan van Nistelrooy di United meenjadi tak menentu, terutama karena performa Cristiano Ronaldo dan Wayne Rooney yang sudah mendapat tempat utama di skuad Fergie. Pada akhir musim van Nistelrooy pindah ke Real Madrid.
[sunting]Gelar Eropa kedua
Awal musim 2006/07 menjadi suatu ujian bagi sisi manajerial Fergie. 2 orang pemain utamanya Cristiano Ronaldo dan Wayne Rooney terlibat perselisihan pada ajang Piala Dunia 2006. Insiden itu membuat rumor soal kepergian Ronaldo dari United makin membesar. Namun Fergie berhasil membujuknya agar bertahan di United dan mendamaikan kedua orang itu. Keberhasilan Fergie meredam emosi keduanya menjadi bahan bakar utama skuad United dalam menjalani awal musim baru. Kepergian Roy Keane pada November 2006, membuat Fergie mengincar gelandang Tottenham Hotspurs, Michael Carrick. Dan pada awal musim Carrick resmi bergabung dengan skuad Setan Merah dengan nilai transfer £14 juta. Awal musim berlangsung baik bagi United yang untuk pertama kalinya memenangkan 4 pertandingan liga secara beruntun. Sekali lagi Fergie membuktikan dirinya sebagai master dalam mendatangkan pemain yang cocok dengan skema permainan yang diinginkan. Hasil transfer pada Januari 2006 berperan besar atas pencapaian United, mereka membentuk lini belakang solid bersama dengan kiper Edwin van der Sar, Rio Ferdinand dan kapten Gary Neville. Sementara Carrick menghadirkan stabilitas permainan di lapangan tengah, bahu membahu dengan Ronaldo, Giggs, Park Ji Sung dan Scholes menyokong Rooney di lini depan. Pada akhir musim United tidak terkejar dan mengamankan gelar juara Liga Inggris. Pada ajang Eropa, Fergie mengantarkan United mencapai semifinal dengan mencetak rekor kemenangan atas AS Roma 7-1 pada laga perempat final di Old Trafford. Pada laga semifinal United kalah dari AC Milan dengan agregat 3-5 setelah unggul 3-2 di Old Trafford. Walaupun begitu hasil ini merupakan tanda kebangkitan dari Setan Merah setelah beberapa tahun belakangan kalah bersaing dari Arsenal, Liverpool dan Chelsea.


Ronaldo berhadapan dengan Albert Riera dari Liverpool.
Awal musim 2007/08, Fergie kembali mendatangkan pemain untuk memperkuat skuadnya. gelandang bertahan Owen Hargreaves yang sukses bersama tim nasional Inggris di Piala Dunia 2006,sayap serba bisa Nani dari Portugal, gelandang serang Anderson dari Brazil dan striker Carlos Tevez resmi bergabung dengan Fergie di Old Trafford. Dengan kedalaman skuadnya, Fergie mengincar pencapaian gelar Eropa kedua bersama Setan Merah. Namun harapan Fergie sepertinya akan terbang seiring dengan performa dibawah standar United yang hanya meraih hasil imbang dalam 2 laga awal serta kalah 0-1 dari rival sekota Manchester City. Namun Fergie berhasil memotivasi skuadnya dan penampilan United sonta berubah drastis menjadi kompetitor dalam meraih gelar juara Liga Inggris bersama Arsenal dan Chelsea. Musim ini juga merupakan musim terbaik dari Cristiano Ronaldo yang secara luar biasa mencetak 42 gol dalam semua ajang yang diikuti oleh United, meraih trofi Sepatu Emas sebagai top-scorer Eropa, top-scorer Liga Inggris (35 gol) dan menjadi kandidat Pemain Terbaik Dunia FIFA. Pada akhir musim, Fergie kembali tampil di Final Liga Champion berhadapan dengan Chelsea, Ronaldo membawa United unggul 1-0 pada babak pertama sebelum disamakan oleh Chelsea pada babak kedua. Lewat drama adu pinalti, Fergie sukses memenangkan gelar Liga Champion keduanya sepanjang kariernya sebagai manajer. Fergie juga berhasil membawa United meraih trofi Piala Dunia Antarklub yang pertama bagi United. Pada akhir musim ini Fergie mengumumkan dirinya akan mundur dari jabatan manajer Manchester United pada tahun 2011, sesuatu yang kemudian diralatnya sendiri dengan mengatakan akan terus menjadi menajer United selama fisiknya masih memungkinkan. Musim berikutnya Fergie kembali meraih trofi juara Liga Inggris untuk ke 11 kalinya dan mengantar United menyamai rekor Liverpool yang telah menjuarai Liga Inggris 18 kali. Akhir musim 2008/09 juga menjadi musim terakhir bagi Cristiano Ronaldo yang pindah ke Real Madrid dengan rekor transfer dunia sampai saat ini, £80 juta. Menjadikannya pemain termahal yang pernah dijual Fergie selama kariernya sebagai menejer klub. Musim 2009/10 menghadirkan kekecewaan bagi Fergie dimana ia gagal mempertahankan gelar juara Liga Inggris dan melewati raihan trofi Liverpool.

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Manchester United Football Club is an English professional football club, based in Old Trafford, Greater Manchester, that plays in the Premier League. Founded as Newton Heath LYR Football Club in 1878, the club changed its name to Manchester United in 1902 and moved to Old Trafford in 1910.
In 1968, under the management of Matt Busby, Manchester United was the first English football club to win the European Cup, ten years after the Munich air disaster that claimed the lives of eight players. The current manager, Sir Alex Ferguson, is the most successful manager in English football history, having won 27 major honours since he took over in November 1986.[3][4]
Manchester United is the most successful club in English football, having won a record 19 league titles, a record 11 FA Cups [5] and four League Cups. The club has also won three European Cups and have twice been club world champions: in 1999 and 2008. As of May 2011, they are - according to 5 yearly club coefficients compiled by UEFA - the number one ranked club in Europe.
Manchester United is one of the wealthiest and most widely supported football teams in the world.[6][7][8][9] The club is said to be worth £1.13 billion, making it the most valuable football club in the world.[10] After being floated on the London Stock Exchange in 1991, the club was purchased by Malcolm Glazer in May 2005 in a deal valuing the club at almost £800 million.[11]

Early years (1878–1945)
Main article: History of Manchester United F.C. (1878–1945)


A chart showing the progress of Manchester United F.C. through the English football league system from joining as Newton Heath in 1892–93 to 2007–08
Manchester United was formed in 1878 as Newton Heath LYR Football Club by the Carriage and Wagon department of the Lancashire and Yorkshire Railway depot at Newton Heath.[12] The team initially played games against other departments and rail companies, but on 20 November 1880, they competed in their first recorded match; wearing the colours of the railway company – green and gold – they were defeated 6–0 by Bolton Wanderers' reserve team.[13] By 1888, the club had become a founding member of The Combination, a regional football league. However, following the league's dissolution after just one season, Newton Heath joined the newly formed Football Alliance, which ran for three seasons before being merged with the Football League. This resulted in the club starting the 1892–93 season in the First Division, by which time it had become independent of the rail company and dropped the "LYR" from its name.[12] After just two seasons, the club was relegated to the Second Division.[12]


The Manchester United team at the start of the 1905–06 season, in which they were runners-up in the Second Division
In January 1902, with debts of £2,670 – equivalent to £210,000 as of 2011[14] – the club was served with a winding-up order.[15] Captain Harry Stafford found four local businessmen, including John Henry Davies (who became club president), each willing to invest £500 in return for a direct interest in running the club and who subsequently changed the name;[16] on 24 April 1902, Manchester United was officially born.[17][18] Under Ernest Mangnall, who assumed managerial duties in 1903, the team finished as Second Division runners-up in 1906 and secured promotion to the First Division, which they won in 1908 – the club's first league title. The following season began with victory in the first ever Charity Shield[19] and ended with the club's first FA Cup title. Manchester United won the First Division for the second time in 1911, but at the end of the following season, Mangnall left the club to join Manchester City.[20]
In 1922, three years after the resumption of football following the First World War, the club was relegated to the Second Division, where it remained until regaining promotion in 1925. Relegated again in 1931, Manchester United became a yo-yo club, achieving its all-time lowest position of 20th place in the Second Division in 1934. Following the death of the club's principal benefactor, J. H. Davies, in October 1927, the club's finances deteriorated to the extent that Manchester United would likely have gone bankrupt had it not been for James W. Gibson, who, in December 1931, invested £2,000 and assumed control of the club.[21] In the 1938–39 season, the last year of football before the Second World War, the club finished 14th in the First Division.[21]
Busby years (1945–1969)
Main article: History of Manchester United F.C. (1945–1969)


The Busby Babes in Denmark in 1955
In October 1945, the impending resumption of football led to the managerial appointment of Matt Busby, who demanded an unprecedented level of control over team selection, player transfers and training sessions.[22] Busby led the team to second-place league finishes in 1947, 1948 and 1949, and to FA Cup victory in 1948. In 1952, the club won the First Division, its first league title for 41 years.[23] With an average age of 22, the media labelled the back-to-back title winning side of 1956 "the Busby Babes", a testament to Busby's faith in his youth players.[24] In 1957, Manchester United became the first English team to compete in the European Cup, despite objections from The Football League, who had denied Chelsea the same opportunity the previous season.[25] En route to the semi-final, which they lost to Real Madrid, the team recorded a 10–0 victory over Belgian champions Anderlecht, which remains the club's biggest victory on record.[26]


A plaque at Old Trafford in memory of those who died in the Munich air disaster, including players names
The following season, on the way home from a European Cup quarter-final victory against Red Star Belgrade, the aircraft carrying the Manchester United players, officials and journalists crashed while attempting to take off after refuelling in Munich, Germany. The Munich air disaster of 6 February 1958 claimed 23 lives, including those of eight players – Geoff Bent, Roger Byrne, Eddie Colman, Duncan Edwards, Mark Jones, David Pegg, Tommy Taylor and Billy Whelan – and injured several more.[27][28]
Reserve team manager Jimmy Murphy took over as manager while Busby recovered from his injuries and the club's makeshift side reached the FA Cup final, which they lost to Bolton Wanderers. In recognition of the team's tragedy, UEFA invited the club to compete in the 1958–59 European Cup alongside eventual League champions Wolverhampton Wanderers. Despite approval from the FA, the Football League determined that the club should not enter the competition, since it had not qualified.[29][30] Busby rebuilt the team through the 1960s by signing players such as Denis Law and Pat Crerand, who combined with the next generation of youth players – including George Best – to win the FA Cup in 1963. The following season, they finished second in the league, then won the title in 1965 and 1967. In 1968, Manchester United became the first English club to win the European Cup, beating Benfica 4–1 in the final[31] with a team that contained three European Footballers of the Year: Bobby Charlton, Denis Law and George Best.[32] Matt Busby resigned as manager in 1969 and was replaced by the reserve team coach, former Manchester United player Wilf McGuinness.[33]
1969–1986
Main article: History of Manchester United F.C. (1969–1986)


Bryan Robson was the captain of Manchester United for 12 years, longer than any other player.[34]
Following an eighth-place finish in the 1969–70 season and a poor start to the 1970–71 season, Busby was persuaded to temporarily resume managerial duties, and McGuinness returned to his position as reserve team coach. In June 1971, Frank O'Farrell was appointed as manager, but lasted less than 18 months before being replaced by Tommy Docherty in December 1972.[35] Docherty saved Manchester United from relegation that season, only to see them relegated in 1974; by that time the trio of Best, Law, and Charlton had left the club.[31] The team won promotion at the first attempt and reached the FA Cup final in 1976, but were beaten by Southampton. They reached the final again in 1977, beating Liverpool 2–1. Docherty was dismissed shortly afterwards, following the revelation of his affair with the club physiotherapist's wife.[33][36]
Dave Sexton replaced Docherty as manager in the summer of 1977. Despite major signings, including Joe Jordan, Gordon McQueen, Gary Bailey, and Ray Wilkins, the team failed to achieve any significant results; they finished in the top two in 1979–80 and lost to Arsenal in the 1979 FA Cup Final. Sexton was dismissed in 1981, even though the team won the last seven games under his direction.[37] He was replaced by Ron Atkinson, who immediately broke the British record transfer fee to sign Bryan Robson from West Bromwich Albion. Under Atkinson, Manchester United won the FA Cup twice in three years – in 1983 and 1985. In 1985–86, after 13 wins and two draws in its first 15 matches, the club was favourite to win the league, but finished in fourth place. The following season, with the club in danger of relegation by November, Atkinson was dismissed.[38]
Ferguson years (1986–present)
Main article: History of Manchester United F.C. (1986–present)


Alex Ferguson has been manager of Manchester United since November 1986.
Alex Ferguson and his assistant Archie Knox arrived from Aberdeen on the day of Atkinson's dismissal,[39] and guided the club to an 11th-place finish in the league.[40] Despite a second-place finish in 1987–88, the club was back in 11th place the following season.[41] Reportedly on the verge of being dismissed, victory over Crystal Palace in the 1990 FA Cup Final replay (after a 3–3 draw) saved Ferguson's career.[42][43] The following season, Manchester United claimed its first Cup Winners' Cup title and competed in the 1991 UEFA Super Cup, beating European Cup holders Red Star Belgrade 1–0 in the final at Old Trafford. A second consecutive League Cup final appearance followed in 1992, in which the team beat Nottingham Forest 1–0 at Wembley.[38] In 1993, the club won its first league title since 1967, and a year later, for the first time since 1957, it won a second consecutive title – alongside the FA Cup – to complete the first "Double" in the club's history.[38]


Ryan Giggs is the most decorated player in English football history.[44]
Manchester United's 1998–99 season was the most successful in English club football history as they became the first team to win the Premier League, FA Cup and UEFA Champions League – "The Treble" – in the same season.[45] Losing 1–0 going into injury time in the 1999 UEFA Champions League Final, Teddy Sheringham and Ole Gunnar Solskjær scored late goals to claim a dramatic victory over Bayern Munich, in what is considered one of the greatest comebacks of all time.[46] The club also won the Intercontinental Cup after beating Palmeiras 1–0 in Tokyo.[47] Ferguson was subsequently knighted for his services to football.[48]
In 2000, Manchester United competed in the inaugural FIFA Club World Championship in Brazil,[49] and won the league again in the 1999–2000 and 2000–01 seasons. The team finished as runners-up in 2001–02, before regaining the title in 2002–03. They won the 2003–04 FA Cup, beating Millwall 3–0 in the final at the Millennium Stadium in Cardiff.[50] In the 2005–06 season, Manchester United failed to qualify for the knockout phase of the UEFA Champions League for the first time in over a decade, but recovered to secure a second-place league finish and victory over Wigan Athletic in the 2006 Football League Cup Final. The club regained the Premier League in the 2006–07 and 2007–08 seasons, and completed the European double by beating Chelsea 6–5 on penalties in the 2008 UEFA Champions League Final in Moscow's Luzhniki Stadium. Ryan Giggs made a record 759th appearance for the club in this game, overtaking previous record holder Bobby Charlton.[51] In December 2008, the club won the 2008 FIFA Club World Cup and followed this with the 2008–09 Football League Cup, and its third successive Premier League title.[52][53] That summer, Cristiano Ronaldo was sold to Real Madrid for a world record £80 million.[54] In 2010, Manchester United defeated Aston Villa 2–1 at Wembley to retain the League Cup, its first successful defence of a knockout cup competition.[55]
After finishing as runner-up to Chelsea in the 2009–10 season, United achieved a record 19th league title in 2010–11, securing the championship with a 1–1 away draw against Blackburn Rovers on 14 May 2011.[56]
Crest and colours



Manchester United badge in the 1960s
The club crest is derived from the Manchester City Council coat of arms, although all that remains of it on the current crest is the ship in full sail.[57] The devil stems from the club's nickname "The Red Devils"; it was included on club programmes and scarves in the 1960s, and incorporated into the club crest in 1970, although the crest was not included on the chest of the shirt until 1971 (unless the team was playing in a Cup Final).[57]
A photograph of the Newton Heath team, taken in 1892, is believed to show the players wearing a red-and-white quartered jerseys and blue shorts.[58] Between 1894–96, the players wore distinctive green and gold jerseys[58] which were replaced in 1896 by white shirts, which were worn with blue shorts.[58] After its name change in 1902, the club colours were changed to red shirts, white shorts, and black socks, which has become the standard Manchester United home kit.[58] Very few changes were made to the kit until 1922 when the club adopted white shirts bearing a deep red "V" around the neck, similar to the shirt worn in the 1909 FA Cup Final. They would remain part of their home kits until 1927.[58] In 1934, players sported cherry and white hooped shirts, but the following season the red shirt was recalled after the club's lowest ever league placing of 20th in the Second Division.[58] The black socks were changed to white from 1959 to 1965, where they were replaced with red socks up until 1971, when the club reverted to black. The current home kit is a red shirt with a white collar, worn with white shorts and black socks.[59]
The Manchester United away strip has more often than not been a white shirt, black shorts and white socks, but there have been several exceptions. These include the navy blue shirt with silver horizontal pinstripes worn during the 1999–2000 season,[60] and the current away kit which is a white shirt with red and black flashes on the sleeves, with black shorts and white socks.[61] An all-grey away kit worn during the 1995–96 season was dropped after just two games because players claimed to have trouble finding their team-mates against the crowd.[62] In 2001, to celebrate 100 years as "Manchester United", a reversible white/gold away kit was released, although the actual match day shirts were not reversible.[63] The club's third kit is often all-blue, this was most recently the case during the 2008–09 season, to celebrate 40 years since it was worn for the club's first European Cup win in 1968.[64] Exceptions include blue-and-white striped shirts worn during the 1994–96 season, an all black kit worn during the Treble winning season, and white shirts with black-and-red horizontal pinstripes worn between 2003–05.[65] The club's 2008–09 season away kit – a white shirt with blue and red trim, worn with blue shorts and white socks – was used as the club's third kit during the 2009–10 season.[66][67]
Grounds

Main articles: North Road, Bank Street, and Old Trafford
Old Trafford
Theatre of Dreams

Location Sir Matt Busby Way,
Old Trafford,
Greater Manchester,
England
Broke ground 1909
Opened 19 February 1910
Owner Manchester United
Operator Manchester United
Construction cost £90,000 (1909)
Architect Archibald Leitch (1909)
Capacity 75,957 seated[2]
Tenants
Manchester United (1910–present)
Newton Heath initially played on a field on North Road, close to the railway yard; the original capacity was about 12,000, but club officials deemed the facilities inadequate for a club hoping to join The Football League.[68] Some expansion took place in 1887, and in 1891 Newton Heath used its minimal financial reserves to purchase two grandstands, each able to hold 1,000 spectators.[69] Although attendances were not recorded for many of the earliest matches at North Road, the highest documented attendance was approximately 15,000 for a First Division match against Sunderland on 4 March 1893.[70] A similar attendance was also recorded for a friendly match against Gorton Villa on 5 September 1889.[71]
In June 1893, after the club was evicted from North Road by its owners, Manchester Deans and Canons, who felt it was inappropriate for the club to charge an entry fee to the ground, secretary A. H. Albut procured the use of the Bank Street ground in Clayton.[72] It initially had no stands, by the start of the 1893–94 season, two had been built; one spanning the full length of the pitch on one side and the other behind the goal at the "Bradford end". At the opposite end, the "Clayton end", the ground had been "built up, thousands thus being provided for".[72] Newton Heath's first league match at Bank Street was played against Burnley on 1 September 1893, when 10,000 people saw Alf Farman score a hat-trick, Newton Heath's only goals in a 3–2 win. The remaining stands were completed for the following league game against Nottingham Forest three weeks later.[72] In October 1895, before the visit of Manchester City, the club purchased a 2,000-capacity stand from the Broughton Rangers rugby league club, and put up another stand on the "reserved side" (as distinct from the "popular side"). However, weather restricted the attendance for the Manchester City match to just 12,000.[73]
When the Bank Street ground was temporarily closed by bailiffs in 1902, club captain Harry Stafford raised enough money to pay for the club's next away game at Bristol City and found a temporary ground at Harpurhey for the next reserves game against Padiham.[74] Following financial investment, new club president J.H. Davies paid £500 for the erection of a new 1,000-seat stand at Bank Street.[75] Within four years, the stadium had cover on all four sides, as well as the ability to hold approximately 50,000 spectators, some of whom could watch from the viewing gallery atop the Main Stand.[75]
However, following Manchester United's first league title in 1908 and the FA Cup a year later, it was decided that Bank Street was too restrictive for Davies' ambition;[75] in February 1909, six weeks before the club's first FA Cup title, Old Trafford was named as the home of Manchester United, following the purchase of land for around £60,000. Architect Archibald Leitch was given a budget of £30,000 for construction; original plans called for seating capacity of 100,000, though budget constraints forced a revision to 77,000. The building was constructed by Messrs Brameld and Smith of Manchester. The stadium's record attendance was registered on 25 March 1939, when an FA Cup semi-final between Wolverhampton Wanderers and Grimsby Town drew 76,962 spectators.[76]
Bombing in the Second World War destroyed much of the stadium; the central tunnel in the South Stand was all that remained of that quarter. After the war, the club received compensation from the War Damage Commission in the amount of £22,278. While reconstruction took place, the team played its "home" games at Manchester City's Maine Road ground; Manchester United was charged £5,000 per year, plus a nominal percentage of gate receipts.[77] Later improvements included the addition of roofs, first to the Stretford End and then to the North and East Stands. The roofs were supported by pillars that obstructed many fans' views, and they were eventually replaced with a cantilevered structure. The Stretford End was the last stand to receive a cantilevered roof, completed in time for the 1993–94 season.[33] First used on 25 March 1957 and costing £40,000, four 180-foot (55 m) pylons were erected, each housing 54 individual floodlights. These were dismantled in 1987 and replaced by a lighting system embedded in the roof of each stand, which remains in use today.[78]
The Taylor Report's requirement for an all-seater stadium lowered capacity at Old Trafford to around 44,000 by 1993. In 1995, the North Stand was redeveloped into three tiers, restoring capacity to approximately 55,000. At the end of the 1998–99 season, second tiers were added to the East and West Stands, raising capacity to around 67,000, and between July 2005 and May 2006, 8,000 more seats were added via second tiers in the north-west and north-east quadrants. Part of the new seating was used for the first time on 26 March 2006, when an attendance of 69,070 became a new Premier League record.[79] The record was pushed steadily upwards before reaching its peak on 31 March 2007, when 76,098 spectators saw Manchester United beat Blackburn Rovers 4–1, with just 114 seats (0.15 percent of the total capacity of 76,212) unoccupied.[80] In 2009, reorganisation of the seating resulted in a reduction of capacity by 255 to 75,957.[2][81]
Support

Manchester United is reputed to be the most popular football club in the world, with the highest average home attendance in Europe.[82] The club's worldwide fan base includes more than 200 officially recognised branches of the Manchester United Supporters Club (MUSC), in at least 24 countries.[83] The club takes advantage of this support through its worldwide summer tours. Accountancy firm and sports industry consultants Deloitte estimate that Manchester United has 75 million fans worldwide,[7] while other estimates put this figure closer to 333 million.[8]
Supporters are represented by two independent bodies; the Independent Manchester United Supporters Association (IMUSA), which maintains close links to the club through the MUFC Fans Forum,[84] and the Manchester United Supporters' Trust (MUST). After the Glazer family's takeover in 2005, a group of fans formed a splinter club, F.C. United of Manchester. The West Stand of Old Trafford – the "Stretford End" – is the home end and the traditional source of the club's most vocal support.[85]
Rivalries
Main articles: Manchester derby, Liverpool F.C. and Manchester United F.C. rivalry, and Leeds United A.F.C. and Manchester United F.C. rivalry
Manchester United has rivalries with three clubs: Leeds United, Liverpool, and Manchester City, against whom they contest the Manchester derby.[86][87]
The rivalry with Liverpool is rooted in competition between the cities during the Industrial Revolution when Manchester was famous for its textile industry while Liverpool was a major port.[88]
The "Roses Rivalry" with Leeds stems from the Wars of the Roses, fought between the House of Lancaster and the House of York, with Manchester United representing Lancashire and Leeds representing Yorkshire.[89]
Global brand

Manchester United has been described as a global brand; a 2009 report valued the club's trademarks and associated intellectual property at £329 million, and gave the brand a strength rating of AAA (Extremely Strong).[90] In 2010, Forbes magazine ranked Manchester United second only to the New York Yankees in its list of the ten most valuable sports team brands, valuing the Manchester United brand at $285 million (16 percent of the club's $1.835 billion value).[9] The club is currently ranked third in the Deloitte Football Money League (behind Real Madrid and Barcelona).[91]
The core strength of Manchester United's global brand is often attributed to Matt Busby's rebuilding of the team and subsequent success following the Munich air disaster, which drew worldwide acclaim.[85] The "iconic" team included Bobby Charlton and Nobby Stiles (members of England's World Cup winning team), Denis Law and George Best. The attacking style of play adopted by this team (in contrast to the defensive-minded "catenaccio" approach favoured by the leading Italian teams of the era) "captured the imagination of the English footballing public".[92] Busby's team also became associated with the liberalisation of Western society during the 1960s; George Best, known as the "fifth Beatle" for his iconic haircut, was the first footballer to significantly develop an off-the-field media profile.[92]
As the first English football club to float on the London Stock Exchange in 1991, the club raised significant capital, with which it further developed its commercial strategy. The club's focus on commercial and sporting success brought significant profits in an industry often characterised by chronic losses.[93] The strength of the Manchester United brand was bolstered by intense off-the-field media attention to individual players, most notably David Beckham (who quickly developed his own global brand). This attention often generates greater interest in on-the-field activities, and hence generates sponsorship opportunities – the value of which is driven by television exposure.[94] During his time with the club, Beckham's popularity across Asia was integral to the club's commercial success in that part of the world.[95]
Because higher league placement results in a greater share of television rights, success on the field generates greater income for the club. Since the inception of the Premier League, Manchester United has received the largest share of the revenue generated from the BSkyB broadcasting deal.[96] Manchester United has also consistently enjoyed the highest commercial income of any English club; in 2005–06, the club's commercial arm generated £51 million, compared to £42.5 million at Chelsea, £39.3 million at Liverpool, £34 million at Arsenal and £27.9 million at Newcastle United. A key sponsorship relationship is with sportswear company Nike, who manage the club's merchandising operation as part of a £303 million 13-year partnership established in 2002.[97] Through Manchester United Finance and the club's membership scheme, One United, those with an affinity for the club can purchase a range of branded goods and services. Additionally, Manchester United-branded media services – such as the club's dedicated television channel, MUTV – have allowed the club to expand its fan base to those beyond the reach of its Old Trafford stadium.[7]
Sponsorship
Period Kit manufacturer Shirt sponsor
1945–1975 Umbro none
1975–1980 Admiral
1980–1982 Adidas
1982–1992 Sharp Electronics
1992–2000 Umbro
2000–2002 Vodafone
2002–2006 Nike
2006–2010 AIG
2010– Aon
In an initial five-year deal worth £500,000, Sharp Electronics became the club's first shirt sponsor at the beginning of the 1982–83 season, a relationship that lasted until the end of the 1999–2000 season, when Vodafone agreed a four-year, £30 million deal.[98] Vodafone agreed to pay £36 million to extend the deal by four years, but after two seasons triggered a break clause in order to concentrate on its sponsorship of the Champions League.[98]
To commence at the start of the 2006–07 season, American insurance corporation AIG agreed a four-year £56.5 million deal which in September 2006 became the most valuable in the world.[99][100] At the beginning of the 2010–11 season, American reinsurance company Aon became the club's principal sponsor in a four-year deal reputed to be worth approximately £80 million, making it the most lucrative shirt sponsorship deal in football history.[101]
The club's first kit manufacturer was Umbro, until a five-year deal was agreed with Admiral Sportswear in 1975.[102] Adidas received the contract in 1980,[103] before Umbro started a second spell in 1992.[104] Umbro's sponsorship lasted for ten years, followed by Nike's record-breaking £302.9 million deal that will last until 2015; 3.8 million replica shirts were sold in the first 22 months with the company.[105][106] In addition to Nike and Aon, the club also has several lower-level "platinum" sponsors, including Audi and Budweiser.[107]
Ownership and finances

See also: Malcolm Glazer ownership of Manchester United
Originally funded by the Lancashire and Yorkshire Railway Company, the club became a limited company in 1892 and sold shares to local supporters for £1 via an application form.[16] In 1902, majority ownership passed to the four local businessmen who invested £500 to save the club from bankruptcy, including future club president J.H Davies.[16] After his death in 1927, the club faced bankruptcy yet again, but was saved in December 1931 by James W. Gibson, who assumed control of the club after investing £2,000.[21] Gibson promoted his son, Alan, to the board in 1948,[108] but died three years later; the Gibson family retained ownership of the club,[109] but the position of chairman passed to former player Harold Hardman.[110]
Promoted to the board a few days after the Munich air disaster, Louis Edwards, a friend of Matt Busby, began acquiring shares in the club; for an investment of approximately £40,000, he accumulated a 54 percent shareholding and took control in January 1964.[111] When Lillian Gibson died in January 1971, her shares passed to Alan Gibson who sold a percentage of his shares to Louis Edwards' son, Martin in 1978; Martin Edwards went on to become chairman upon his father's death in 1980.[112] Media tycoon Robert Maxwell attempted to buy the club in 1984, but did not meet Edwards' asking price.[112] In 1989, chairman Martin Edwards attempted to sell the club to Michael Knighton for £20 million, but the sale fell through and Knighton joined the Board of Directors instead.[112] . Manchester United was floated on the stock market in June 1991 (raising £6.7 million),[113] and received yet another takeover bid in 1998, this time from Rupert Murdoch's British Sky Broadcasting Corporation. This resulted in the formation of Shareholders United Against Murdoch – now the Manchester United Supporters' Trust – who encouraged supporters to buy shares in the club in an attempt to block any hostile takeover. The Manchester United board accepted a £623 million offer,[114] but the takeover was blocked by the Monopolies and Mergers Commission at the final hurdle in April 1999.[115] A few years later, a power struggle emerged between the club's manager, Alex Ferguson, and his horse-racing partners, John Magnier and J. P. McManus, who had gradually become the majority shareholders. In a dispute that stemmed from contested ownership of the horse Rock of Gibraltar, Magnier and McManus attempted to have Ferguson removed from his position as manager, and the board responded by approaching investors to attempt to reduce the Irishmen's majority.[116]
In May 2005, Malcolm Glazer purchased the 28.7 percent stake held by McManus and Magnier, thus acquiring a controlling interest through his investment vehicle Red Football Ltd in a highly leveraged takeover valuing the club at approximately £800 million (then approx. $1.5 billion).[117][118] In July 2006, the club announced a £660 million debt refinancing package, resulting in a 30 percent reduction in annual interest payments to £62 million a year.[119][120] In January 2010, with debts of £716.5 million ($1.17 billion),[121] Manchester United further refinanced through a bond issue worth £504 million, enabling them to pay off most of the £509 million owed to international banks.[122] The annual interest payable on the bonds – which mature on 1 February 2017 – is approximately £45 million per annum.[123] Despite restructuring, the club's debt prompted protests from fans on 23 January 2010, at Old Trafford and the club's Trafford Training Centre.[124][125] Supporter groups encouraged match-going fans to wear green and gold, the colours of Newton Heath. On 30 January, reports emerged that the Manchester United Supporters' Trust had held meetings with a group of wealthy fans, dubbed the "Red Knights", with plans to buying out the Glazers' controlling interest.[126]

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MANCHESTER, KOMPAS.com — Manchester City akan mengakhiri puasa gelar selama hampir 35 tahun jika memenangi final Piala FA melawan Stoke City, akhir pekan ini. Namun, seorang suporter Manchester United (MU) menilai hal itu tak akan mengubah pandangan mereka terhadap City.

Di Old Trafford, ada spanduk bertuliskan tanggal City meraih gelar terakhir mereka, yaitu Piala Liga pada 28 Februari 1976. Spanduk itu akan ketinggalan zaman jika City berhasil mengalahkan Stoke.

Seorang suporter MU, Andrew Kilduff, menilai, sekalipun juara, itu bukan cerminan kehebatan City, melainkan banyaknya uang yang dimiliki City. Hal ini berkaitan dengan anggaran transfer City yang melimpah seusai dibeli Sheikh Mansour bin Zayed Al Nahyan pada 2008 silam.

"Itu akan tetap terpampang jika mereka tidak menang. Jika mereka menang, itu mungkin akan turun, tetapi ada banyak opsi lainnya," kata Kilduff.

"Itu akan tetap terpampang untuk mengingatkan berapa lama mereka tidak meraih trofi atau untuk menunjukkan bahwa mereka telah membeli trofi, ketimbang menjuarainya, dan membiarkan spanduk tetap di sana, atau menggantinya dengan angka 43 (tahun) untuk menandai kapan terakhir kali mereka menjuarai Premier League."

"Jika City menjuarai Piala FA, hal pertama yang akan mereka minta adalah spanduk itu diturunkan. Para pemain, manajer, pendukung, mereka semua terobsesi oleh ini dan mereka akan membicarakannya lebih dari yang dilakukan suporter United," paparnya.

Sementara itu, pengurus sebuah kelompok suporter City, Neil Mitchell, menilai, jika timnya menjadi juara Piala FA, itu tak bisa dikait-kaitkan dengan sukses Manchester United. Ia juga mengaku tidak suka timnya disebut tim pertama yang bersaing meraih gelar karena kekuatan uang mereka di bursa transfer.

"Saya tak berpikir harus mengutip catatan biaya transfer untuk sosok Bryan Robson, pemain muda, dan bek termahal. Chelsea telah melakukannya juga, tetapi (Chelsea) menjadi berbeda dari kami karena mereka sudah sedikit berubah," tambahnya. (TEL)

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MALANG, KOMPAS.com — Grup Bakrie akan membeli Arema Malang. Namun, kedua pihak belum menentukan kapan akan mengumumkan itu kepada publik.

Hal tersebut diungkapkan Pembina Yayasan Arema, Rendra Krisna yang kini juga menjabat bupati Malang, saat ditemui Kompas.com seusai menghadiri pembukaan pendidikan dan latihan kader Generasi Muda Farum Komunikasi Putera-Puteri TNI/Polri (GM FKPP) Jatim di Gedung Dodikjur, Kota Malang, Jawa Timur, Kamis (9/6/2011).

"Grup Bakrie, sudah positif 95 persen akan mengelola Arema. Hanya tinggal menunggu waktu saja akan diumumkan kepada publik. Pertimbangnnya juga, karena Grup Bakrie sudah banyak membantu Arema melalui sponsor lewat Ijen Nirwana yang ada di Kota Malang," katanya.

Ditanya mengenai nilai jual-beli, ketua DPD Partai Golkar itu mengatakan, "Wah itu nanti saja. Yang jelas 95 persen sudah siap dikelola Bakrie Group. Tahap awal, Arema akan menyelesaikan gaji pemain terlebih dahulu, sekitar Rp 5 miliar," katanya.

Terkait utang Arema yang dibebankan kepada calon investor yang akan membeli Arema, Rendra mengatakan, jumlahnya mencapai lebih dari Rp 10 miliar. "Itu kalau ditotal hingga akhir kompetisi ini. Soal itu yang pertama akan kami selesaikan," katanya.

Setelah investor siap akan mengelola Arema, menurut dia, manajemen juga akan dirombak. "Arema juga memiliki nama di dunia sepak bola Indonesia, bahkan dilevel Asia. Harus menjadi contoh klub lainnya," tuturnya.

Mengenai rencana Wali Kota Batu Eddy Rumpoko mengelola Arema, Rendra mengatakan bahwa Eddy, "Hanya akan membantu kalau Arema membutuhkannya."

Sementara itu, Eddy Rumpoko yang ditemui di lokasi yang sama mengatakan, pihaknya siap mengelola Arema dan sudah selesai mengomunikasikan hal tersebut kepada beberapa pengusaha asal Malang di Jakarta.

"Karena Bapak saya adalah salah satu pendiri Arema (Sugino). Wajar saya peduli dan siap akan kelola Arema," tuturnya.

"Teman-teman saya para pengusaha itu siap mengelola Arema secara profesional. Namun, home base Arema akan dipindah ke Kota Batu. Batu cukup strategis kalau dijadikan home base Arema. Selain tetap di Malang, pemain akan kerasan latihan di Batu," ujarnya.

-

MANCHESTER, KOMPAS.com — Manchester United (MU) disebut Daily Mail mau menuntaskan transfer gelandang Aston Villa, Ashley Young, sebelum Young menikah akhir pekan ini.

Sebelumnya, media-media Inggris mengatakan, MU akan mendapatkan Young, tetapi tidak sebelum ia melangsungkan pernikahannya.

Namun, MU diyakini juga masih punya banyak agenda transfer yang perlu diselesaikan, dengan transfer domestik menjadi prioritas sebelum memburu pemain di luar Inggris.

Menurut Daily Mail, agen Young, Eric Walters, datang ke pusat latihan MU di Carrington, Rabu (8/6/2011), untuk bertemu manajemen MU, termasuk Manajer Alex Ferguson. Pertemuan itu diyakini untuk menyelesaikan negosiasi kontrak personal kedua pihak.

Kontrak Young akan habis pada akhir musim depan dan telah mengatakan tidak mau memperpanjang kontrak. Demi menghindari kerugian finansial, Villa memutuskan untuk menjualnya pada bursa transfer ini dan, menurut media-media Inggris, telah menyetujui nilai transfer 15 juta poundsterling atau sekitar Rp 209 miliar dengan MU. (DM)

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J. P. Morgan

This article is about the 1837-1913 American financier. For the modern company, see JPMorgan Chase. For the historical banking institution, see J.P. Morgan & Co.. For other people of the same name, see J. P. Morgan (disambiguation).
J. P. Morgan

Born April 17, 1837
Hartford, Connecticut, United States
Died March 31, 1913 (aged 75)
Rome, Italy
Resting place Cedar Hill Cemetery
Occupation Financier, Banker
Religion Episcopal
Spouse Amelia Sturges (m. 1861–1862)
Frances Louise Tracy (m. 1865–1913)
Children Louisa Pierpont Morgan
John Pierpont Morgan, Jr.
Juliet Morgan
Anne Morgan
Parents Junius Spencer Morgan
Juliet Pierpont
John Pierpont Morgan (April 17, 1837 - March 31, 1913) was an American financier, banker and art collector who dominated corporate finance and industrial consolidation during his time. In 1892 Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. After financing the creation of the Federal Steel Company he merged in 1901 with the Carnegie Steel Company and several other steel and iron businesses, including Consolidated Steel and Wire Company owned by William Edenborn, to form the United States Steel Corporation.
Morgan died in Rome, Italy, in 1913 at the age of 75, leaving his fortune and business to his son, John Pierpont "Jack" Morgan, Jr., and bequeathing his mansion and large book collections to The Morgan Library & Museum in New York.
At the height of Morgan's career during the early 1900s, he and his partners had financial investments in many large corporations and was accused by critics of controlling the nation's high finance. He directed the banking coalition that stopped the Panic of 1907. He was the leading financier of the Progressive Era, and his dedication to efficiency and modernization helped transform American business. Morgan redefined conservatism in terms of financial prowess coupled with strong commitments to religion and high culture.[1]

Childhood and education

J.P. Morgan was born and raised in Hartford, Connecticut to Junius Spencer Morgan (1813–1890) and Juliet Pierpont (1816–1884) of Boston, Massachusetts. Pierpont, as he preferred to be known, had a varied education due in part to interference by his father, Junius. In the fall of 1848, Pierpont transferred to the Hartford Public School and then to the Episcopal Academy in Cheshire, Connecticut (now called Cheshire Academy), boarding with the principal. In September 1851, Morgan passed the entrance exam for the English High School of Boston, a school specializing in mathematics to prepare young men for careers in commerce.
In the spring of 1852, illness that was to become more common as his life progressed struck; rheumatic fever left him in so much pain that he could not walk. Junius sent Pierpont to the Azores (Portuguese islands in the Atlantic) in order for him to recover. After convalescing for almost a year, Pierpont returned to the English High School in Boston to resume his studies. After graduating, his father sent him to Bellerive, a school near the Swiss village of Vevey. When Morgan had attained fluency in French, his father sent him to the University of Göttingen in order to improve his German. Attaining a passable level of German within six months and also a degree in art history, Morgan traveled back to London via Wiesbaden, with his education complete.[2]
[edit]Career

[edit]Early years


J. P. Morgan in his earlier years.
Morgan went into banking in 1857 at his father's London branch, moving to New York City in 1858 where he worked at the banking house of Duncan, Sherman & Company, the American representatives of George Peabody & Company. From 1860 to 1864, as J. Pierpont Morgan & Company, he acted as agent in New York for his father's firm. By 1864–1872, he was a member of the firm of Dabney, Morgan, and Company. In 1871, he partnered with the Drexels of Philadelphia to form the New York firm of Drexel, Morgan & Company. Anthony J. Drexel became Pierpont's mentor at the request of Junius Morgan.
In the early days of the American Civil War Morgan financed a scheme, known as the "Hall Carbine Affair", that purchased 5,000 dangerously defective Hall's Carbines being liquidated by the U.S. Government at a cost of $3.50 each. The rifles were later resold to the government as new carbines lacking the safety flaw at a cost of $22. The audacity of the scheme included not only the $92,426 loss by the government and the selling of weapons known to maim their operators to an army in need of firearms, but the guns were also sold prior to ownership, thus the guns were paid for with money from their sale back to the government. Some authors have suggested that Morgan was somehow unaware that the guns were being resold, however scholarly opinion regards this as "implausible".[3]
Morgan during the American Civil War was required by law to either serve himself or provide a substitute; he paid $1000 for a substitute while he worked to finance the Union war effort.[4]
[edit]J.P. Morgan & Company
Main article: J.P. Morgan & Co.
After the 1893 death of Anthony Drexel, the firm was rechristened "J. P. Morgan & Company" in 1895, and retained close ties with Drexel & Company of Philadelphia, Morgan, Harjes & Company of Paris, and J.S. Morgan & Company (after 1910 Morgan, Grenfell & Company), of London. Fifteen years later also marked his creation of the Chase Manhattan Bank. By 1900, it was one of the most powerful banking houses of the world, carrying through many deals especially reorganizations and consolidations. Morgan had many partners over the years, such as George W. Perkins, but remained firmly in charge.[5]
[edit]Railroad battles
Morgan's ascent to power was accompanied by dynamic financial battles. He wrested control of the Albany and Susquehanna Railroad from Jay Gould and Jim Fisk in 1869. He led the syndicate that broke the government-financing privileges of Jay Cooke, and soon became deeply involved in developing and financing a railroad empire by reorganizations and consolidations in all parts of the United States.
He raised large sums in Europe, but instead of only handling the funds, he helped the railroads reorganize and achieve greater efficiencies. In 1885, he reorganized the New York, West Shore & Buffalo Railroad, leasing it to the New York Central. In 1886, he reorganized the Philadelphia & Reading, and in 1888 the Chesapeake & Ohio. He was heavily involved with railroad tycoon James J. Hill and the Great Northern Railway.
After Congress passed the Interstate Commerce Act in 1887, Morgan set up conferences in 1889 and 1890 that brought together railroad presidents in order to help the industry follow the new laws and write agreements for the maintenance of "public, reasonable, uniform and stable rates." The conferences were the first of their kind, and by creating a community of interest among competing lines paved the way for the great consolidations of the early 20th century.
[edit]Modernizing management
Morgan's process of taking over troubled businesses to reorganize them was known as "Morganization".[6] Morgan reorganized business structures and management in order to return them to profitability. His reputation as a banker and financier also helped bring interest from investors to the businesses he took over.[7]
[edit]Newspapers
In 1896 Adolph Simon Ochs, who owned the Chattanooga Times, secured financing from Morgan to purchase the financially struggling New York Times. It became the standard for American journalism by cutting prices, investing in news gathering, and insisting on the highest quality of writing and reporting.[8]
[edit]Treasury gold
In 1895, at the depths of the Panic of 1893, the Federal Treasury was nearly out of gold. President Grover Cleveland arranged for Morgan to create a private syndicate on Wall Street to supply the U.S. Treasury with $6.5 million in gold, to float a bond issue that restored the treasury surplus of $7 million. The episode saved the Treasury[9] but hurt Cleveland with the agrarian wing of his Democratic party and became an issue in the election of 1896, when banks came under withering attack from William Jennings Bryan. Morgan and Wall Street bankers donated heavily to Republican William McKinley, who was elected in 1896 and reelected in 1900.
[edit]Steel
After the death of his father in 1890, Morgan took control of J. S. Morgan & Co. which was re-named Morgan, Grenfell & Company in 1910. Morgan began talks with Charles M. Schwab, president of Carnegie Co., and businessman Andrew Carnegie in 1900. The goal was to buy out Carnegie's steel business and merge it with several other steel, coal, mining and shipping firms to create the United States Steel Corporation. His goal was almost completed in late 1900 while negotiating a deal with Robert D. Tobin and Theodore Price III, but was then retracted immediately. In 1901 U.S. Steel was as the first billion-dollar company in the world with an authorized capitalization of $1.2 billion—much larger than any other industrial firm, and comparable in size to the largest railroads.
U.S. Steel aimed to achieve greater economies of scale, reduce transportation and resource costs, expand product lines, and improve distribution.[10] It was also planned to allow the United States to compete globally with Britain and Germany. U.S. Steel's size was claimed by Charles M. Schwab and others to allow the company to pursue distant international markets-globalization.[10] U.S. Steel was regarded as a monopoly by critics, as the business was attempting to dominate not only steel but also the construction of bridges, ships, railroad cars and rails, wire, nails, and a host of other products. With U.S. Steel, Morgan had captured two-thirds of the steel market, and Schwab was confident that the company would soon hold a 75 percent market share.[10] However, after 1901 the businesses' market share dropped. Schwab resigned from U.S. Steel in 1903 to form Bethlehem Steel, which became the second largest U.S. producer on the strength of such innovations as the wide flange "H" beam—precursor to the I-beam—widely used in construction.


Morgan's role in the economy was denounced as overpowering in this hostile political cartoon
Labor policy was a contentious issue. U.S. Steel was non-union and experienced steel producers, led by Schwab, wanted to keep it that way with aggressive tactics to identify and root out trouble makers. The lawyers and bankers who had organized the merger, notably Morgan and the CEO Elbert "Judge" Gary were more concerned with long-run profits, stability, good public relations, and avoiding trouble. The bankers' views generally prevailed, and the result was a paternalistic labor policy. U.S. Steel was finally unionized in the late 1930s.[11]
[edit]1907 Panic
The Panic of 1907 was a financial crisis that almost crippled the American economy. Major New York banks were on the verge of bankruptcy and there was no mechanism to rescue them until Morgan stepped in personally and took charge, resolving the crisis.[12][13] Treasury Secretary George B. Cortelyou earmarked $35 million of federal money to quell the storm but had no easy way to use it. Morgan now took personal charge, meeting with the nation's leading financiers in his New York mansion; he forced them to devise a plan to meet the crisis. James Stillman, president of the National City Bank, also played a central role. Morgan organized a team of bank and trust executives which redirected money between banks, secured further international lines of credit, and bought plummeting stocks of healthy corporations. A delicate political issue arose regarding the brokerage firm of Moore and Schley, which was deeply involved in a speculative pool in the stock of the Tennessee Coal, Iron and Railroad Company. Moore and Schley had pledged over $6 million of the Tennessee Coal and Iron (TCI) stock for loans among the Wall Street banks. The banks had called the loans, and the firm could not pay. If Moore and Schley should fail, a hundred more failures would follow and then all Wall Street might go to pieces. Morgan decided they had to save Moore and Schley. TCI was one of the chief competitors of U.S. Steel and it owned valuable iron and coal deposits. Morgan controlled U.S. Steel and he decided it had to buy the TCI stock from Moore and Schley. Judge Gary, head of US Steel, agreed, but would there be antitrust implications that could cause grave trouble for US Steel, which was already dominant in the steel industry. Morgan sent Gary to see President Theodore Roosevelt, who promised legal immunity for the deal. U.S. Steel thereupon paid $30 million for the TCI stock and Moore and Schley was saved. The announcement had an immediate effect; by November 7, 1907, the panic was over. Vowing to never let it happen again, and realizing that in a future crisis there was not likely to be another Morgan, banking and political leaders, led by Senator Nelson Aldrich devised a plan that became the Federal Reserve System in 1913.[14] The crisis underscored the need for a powerful mechanism, and Morgan supported the move to create the Federal Reserve System.
[edit]Critics
While conservatives in the Progressive Era hailed Morgan for his civic responsibility, his strengthening of the national economy, and his devotion to the arts and religion, the left wing felt threatened by his enormous economic power.[15]
Enemies of banking attacked Morgan for the terms of his loan of gold to the federal government in the 1895 crisis, for his financial resolution of the Panic of 1907, and for bringing on the financial ills of the New York, New Haven and Hartford Railroad. In December 1912, Morgan testified before the Pujo Committee, a subcommittee of the House Banking and Currency committee. The committee ultimately found that a cabal of financial leaders were abusing their public trust to consolidate control over many industries: the partners of J.P. Morgan & Co. along with the directors of First National and National City Bank controlled aggregate resources of $22.245 billion. Louis Brandeis, later a U.S. Supreme Court Justice, compared this sum to the value of all the property in the twenty-two states west of the Mississippi River.[16]
[edit]Unsuccessful ventures

Morgan did not always invest well, as failures with energy, subways and shipping demonstrated.
[edit]Energy
In 1900, Morgan financed inventor Nikola Tesla and his Wardenclyffe Tower with $150,000 for experiments in transmitting energy. However, in 1903, when the tower structure was near completion, it was still not yet functional due to last-minute design changes that introduced an unintentional defect. When Morgan wanted to know "Where can I put the meter?" Tesla had no answer. By July 1904, Morgan (and the other investors) finally decided they would not provide any additional financing. Morgan also advised other investors to avoid the project.
[edit]Subways
Morgan suffered a rare business defeat in 1902 when he attempted to enter the London Underground field. The notorious transit magnate Charles Tyson Yerkes thwarted Morgan's effort to obtain parliamentary authority to build an underground road that would have competed with "Tube" lines controlled by Yerkes. Morgan called Yerkes' coup "the greatest rascality and conspiracy I ever heard of."[17]
[edit]Shipping
In 1902, J. P. Morgan & Co. financed the formation of International Mercantile Marine Company, an Atlantic shipping combine which absorbed several major American and British lines. IMM a holding company that controlled subsidiary corporations that had their own operating subsidiaries. Morgan hoped to dominate transatlantic shipping through interlocking directorates and contractual arrangements with the railroads, but that proved impossible because of the unscheduled nature of sea transport, American antitrust legislation, and an agreement with the British government. One of IMM's subsidiaries was the White Star Line, which owned the "RMS Titanic". The ship's famous sinking in 1912, the year before Morgan's death, was a financial disaster for IMM, which was forced to apply for bankruptcy protection in 1915. Analysis of financial records shows that IMM was overleveraged and suffered from inadequate cash flow that caused it to default on bond interest payments. Saved by World War I, IMM eventually reemerged as the United States Lines, which itself went bankrupt in 1986.[18] Morgan lost heavily on the deal.[19]
[edit]Morgan corporations

In 1890-1913, 42 major corporations were organized or their securities were underwritten, in whole or part, by J. P. Morgan and Company.[20]
[edit]Industrials
American Bridge Company
American Telephone & Telegraph
Associated Merchants
Atlas Portland Cement
Boomer Coal & Coke
Federal Steel Company
General Electric
Hartford Carpet Corporation
Inspiration Consolidated Copper
International Harvester
International Mercantile Marine
J. I. Case Threshing Machine
National Tube
United Dry Goods
[edit]Railroads
Atchison, Topeka and Santa Fe Railway
Atlantic Coast Line
Central of Georgia Railroad
Chesapeake & Ohio Railroad
Chicago & Western Indiana Railroad
Chicago, Burlington & Quincy
Chicago Great Western Railway
Chicago, Indianapolis & Louisville Railroad
Elgin, Joliet & Eastern Railway
Erie Railroad
Florida East Coast Railway
Hocking Valley Railway
Lehigh Valley Railroad
Louisville and Nashville Railroad
New York Central System
New York, New Haven & Hartford Railroad
New York, Ontario and Western Railway
Northern Pacific Railway
Pennsylvania Railroad
Pere Marquette Railroad
Reading Railroad
St. Louis & San Francisco Railroad
Southern Railway
Terminal Railroad Association of St. Louis
[edit]Later years


This section may require cleanup to meet Wikipedia's quality standards. Please improve this section if you can. The talk page may contain suggestions. (November 2010)


J.P. Morgan, photographed by Edward Steichen in 1903


Self-conscious about his rosacea, Morgan hated being photographed.
After the death of his father in 1890, Morgan gained control of J. S. Morgan & Co (re-named Morgan, Grenfell & Company in 1910). Morgan began conversations with Charles M. Schwab, president of Carnegie Co., and businessman Andrew Carnegie in 1900 with the intention of buying Carnegie's business and several other steel and iron businesses to consolidate them to create the United States Steel Corporation.[10] Carnegie agreed to sell the business to Morgan for $487 million.[10] The deal was closed without lawyers and without a written contract. News of the industrial consolidation arrived to newspapers in mid-January 1901. U.S. Steel was founded later that year and was the first billion-dollar company in the world with an authorized capitalization of $1.4 billion.[21]
Morgan was the founder of the Metropolitan Club of New York and its president from 1891 to 1900. When his friend, Frank King, whom he had proposed, was black-balled by the Union Club because he had done manual labor in his youth, Morgan resigned from the Union Club, and then organized the Metropolitan Club. He donated the land on 5th Avenue and 60th Street at a cost of $125,000, and commanded Stanford White, "Build me a club fit for gentlemen. Forget the expense." Of course he invited King as a charter member.
[edit]Personal life

Morgan was a lifelong member of the Episcopal Church, and by 1890 was one of its most influential leaders.[22]
In 1861, he married Amelia Sturges, a.k.a Mimi (1835–1862). After her death the next year, he married Frances Louisa Tracy, known as Fanny (1842–1924) on May 31, 1865. They had four children:
John Pierpont Morgan (1867–1943),
Louisa Pierpont Morgan (1866–1946) who married Herbert L. Satterlee,[23]
Juliet Pierpont Morgan (1870–1952), and William Pierson Hamilton (1869–1950)
Anne Morgan (1873–1952).
He often had a tremendous physical effect on people; one man said that a visit from Morgan left him feeling "as if a gale had blown through the house."[24] Morgan was physically large with massive shoulders, piercing eyes and a purple nose, because of a chronic skin disease, rosacea.[25] His deformed nose was due to a disease called rhinophyma, which can result from rosacea. As the deformity worsens, pits, nodules, fissures, lobulations, and pedunculation contort the nose. This condition inspired the crude taunt "Johnny Morgan's nasal organ has a purple hue."[26] Surgeons could have shaved away the rhinophymous growth of sebaceous tissue during Morgan's lifetime, but as a child Morgan suffered from infantile seizures, and it is suspected[by whom?] that he did not seek surgery for his nose because he feared the seizures would return. His social and professional self-confidence were too well established to be undermined by this affliction. It appeared as if he dared people to meet him squarely and not shrink from the sight, asserting the force of his character over the ugliness of his face.[27] He was known to dislike publicity and hated being photographed; as a result of his self-consciousness of his rosacea, all of his professional portraits were retouched.
Morgan smoked dozens of cigars per day and favored large Havana cigars dubbed Hercules' Clubs by observers.[28]
His house on Madison Avenue was the first electrically lit private residence in New York. His interest in the new technology was a result of his financing Thomas Edison's Edison Electric Illuminating Company in 1878.[29] J. P. Morgan also owned East Island in Glen Cove, NY where he had a large summer house.


J. P. Morgan's yacht Corsair, later bought by the U.S. Government and renamed the USS Gloucester to serve in the Spanish-American War. Photograph by J. S. Johnston.
An avid yachtsman, Morgan owned several sizeable yachts. The well-known quote, "If you have to ask the price, you can't afford it" is commonly attributed to Morgan in response to a question about the cost of maintaining a yacht.[citation needed]
Morgan was scheduled to travel on the maiden voyage of the RMS Titanic, but cancelled at the last minute.[30]White Star Line, Titanic's operator, was part of Morgan's International Mercantile Marine Company, and Morgan was to have his own private suite and promenade deck on the ship.
Morgan died while travelling abroad on March 31, 1913, just shy of his seventy-sixth birthday. He died in his sleep at the Grand Hotel in Rome, Italy. Flags on Wall Street flew at half-staff; the stock market closed for two hours when his body passed through.[31]
At the time of his death, he had an estate worth $68.3 million ($1.39 billion in today's dollars based on CPI, or $25.2 billion based on 'relative share of GDP'), of which about $30 million represented his share in the New York and Philadelphia banks. The value of his art collection was estimated at $50 million.[32]
His remains were interred in the Cedar Hill Cemetery in his birthplace of Hartford, Connecticut. His son, J. P. Morgan, Jr., inherited the banking business.[33]
The Cragston Dependencies, associated with his estate Cragston at Highlands, New York, was listed on the National Register of Historic Places in 1982.[34]
[edit]Collector of art, books, and gemstones

Morgan was a notable collector of books, pictures, paintings, clocks and other art objects, many loaned or given to the Metropolitan Museum of Art (of which he was president and was a major force in its establishment), and many housed in his London house and in his private library on 36th Street, near Madison Avenue in New York City. His son, J. P. Morgan, Jr., made the Pierpont Morgan Library a public institution in 1924 as a memorial to his father and kept Belle da Costa Greene, his father's private librarian, as its first director.[35] Morgan was painted by many artists including the Peruvian Carlos Baca-Flor and the Swiss-born American Adolfo Müller-Ury, who also painted a double portrait of Morgan with his favorite grandchild Mabel Satterlee that for some years stood on an easel in the Satterlee mansion but has now disappeared.
Morgan was a benefactor of the American Museum of Natural History, the Metropolitan Museum of Art, Groton School, Harvard University (especially its medical school), Trinity College, the Lying-in Hospital of the City of New York, and the New York trade schools.


The J.P. Morgan Library and Art Museum
[edit]Gem collector
By the turn of the century JP Morgan had become one of America's most important collectors of gems and had assembled the most important gem collection in the U.S. as well as of American gemstones (over 1000 pieces). Tiffany & Co. assembled his first collection under their Chief Gemologist George Frederick Kunz. The collection was exhibited at the World's Fair in Paris in 1889. The exhibit won two golden awards and drew the attention of important scholars, lapidaries and the general public.[36]
George Frederick Kunz then continued to build a second, even finer, collection which was exhibited in Paris in 1900. Collections have been donated to the American Museum of Natural History in New York where they were known as the Morgan-Tiffany and the Morgan-Bement collections.[37] In 1911 Kunz named a newly found gem after his biggest customer: morganite.


U.S. gemstones from the Morgan collection
[edit]Photography
Morgan was also a patron to photographer Edward S. Curtis, offering Curtis $75,000 in 1906, for a series on the Native Americans. Curtis eventually published a 20-volume work entitled "The North American Indian."[38] Curtis went on to produce a motion picture In The Land Of The Head Hunters (1914), which was later restored in 1974 and re-released as In The Land Of The War Canoes. Curtis was also famous for a 1911 Magic Lantern slide show The Indian Picture Opera which used his photos and original musical compositions by composer Henry F. Gilbert.[39]
[edit]Legacy

His son, J. P. Morgan, Jr. took over the business at his father's death, but was never as influential. As required by the 1933 Glass–Steagall Act, the "House of Morgan" became three entities: J.P. Morgan & Co., which later became Morgan Guaranty Trust; Morgan Stanley, an investment house; and Morgan Grenfell in London, an overseas securities house.
The gemstone Morganite was named in his honor.[40]
[edit]Popular culture


Lists of miscellaneous information should be avoided. Please relocate any relevant information into appropriate sections or articles. (May 2011)
Morgan was very well known to the public and writers used him to epitomize high finance, sometimes humorously but more often with hostility.
Bertolt Brecht the German writer based the figure of Pierpont Mauler the beef tycoon in his play Saint Joan of the Stockyards on Morgan.
In the musical How to Succeed in Business Without Really Trying, the character J. Pierrepont Finch is portrayed as a rising, powerful businessman.
Morgan appears as a character in Caleb Carr's novel The Alienist.
The banker's name in On the Waterfront is JP Morgan.
Morgan appears in E. L. Doctorow's novel Ragtime, and in the Broadway musical of the same name.
Morgan is mentioned, by name, by Oliver Warbucks in the Broadway musical, Annie.
Morgan is mentioned in F. Scott Fitzgerald's novel The Great Gatsby.
Morgan is mentioned in John Steinbeck's novel The Grapes of Wrath.
Morgan is mentioned in Quentin Tarantino's film Reservoir Dogs.
Morgan is mentioned in the novel Against the Day by Thomas Pynchon.
Morgan is mentioned in O Pioneers! by Willa Cather.
Morgan is a minor character in the novel "Murder on the Oceanic" by Conrad Allen
Flathead, a fictional banker modeled after J.P. Morgan, is a recurring character in Infocom's Zork series of text-based adventure games.
Morgan is referenced as "J. Pierrepont Morgan" in the simulation game Sid Meier's Railroads! as a robber baron in the game.
The name J.P. Morgan is mentioned in the song "We Got Elegance" in the Jerry Herman musical Hello, Dolly!.
Carlito Brigante is likened to Morgan in the 1993 film Carlito's Way.
A satirical version of Morgan appears in Matt Fraction and Steven Sanders [disambiguation needed]' graphic novel The Five Fists of Science'
In The Wind and the Lion, Theodore Roosevelt mockingly toasts Morgan and refers to him as (aside from the Raisuli) "the only real pirate I know".
In Arthur Miller's play Death of a Salesman, Morgan is mentioned as an example of how one does not have to be likeable to be successful in business, which runs counter to protagonist Willy Loman's ideas.
Samuel Barber's operetta, A Hand of Bridge contains a reference to Morgan's wealth, when the character, David, sings, "If I were rich as Morgan, I would still play bridge every night with Sally and Bill.' '
Morgan is believed to have been the model for Walter Parks Thatcher (played by George Coulouris), guardian of the young Citizen Kane (film directed by Orson Welles) with whom he has a tense relationship — Kane blaming Thatcher for destroying his childhood.[1][2][3]
In his satirical history of the United States, It All Started with Columbus, Richard Armour commented that, "Morgan, who was a direct sort of person, made his money in money... He became immensely wealthy because of his financial interests, most of which were around eight or ten percent... This Morgan is usually spoken of as 'J.P.' to distinguish him from Henry Morgan, the pirate."
Morgan is mentioned in The Sopranos Season 2 episode From Where to Eternity. Tony Soprano refers to Morgan when talking to Dr. Melfi about the supposed attitude of Italian immigrants to big business.
Morgan is mentioned in the Video Game Assassins Creed 2 as being a Templar, alongside Thomas Edison and Henry Ford
It is commonly thought and disputed that Rich Uncle Pennybags of the board game Monopoly is modeled after JP Morgan.

--

Lehman Brothers

ehman Brothers Holdings Inc. (Pink Sheets: LEHMQ) (ejaan Inggris: [ˈliːmən]) adalah perusahan jasa keuangan global yang didirikan tahun 1850. Perusahaan ini bergerak di bidang bank investasi, perdagangan saham dan obligasi, riset pasar, manajemen investasi, ekuitas pribadi, dan layanan perbankan personal. Lehman Brothers adalah pialang utama dalam pasar sekuritas perbendaharaan negara Amerika Serikat. Di antara anak perusahaan yang dimiliki perusahaan ini adalah Lehman Brothers Inc., Neuberger Berman, Aurora Loan Services, SIB Mortgage Corporation, Lehman Brothers Bank, FSB, dan Crossroads Group. Kantor pusatnya berada di New York City, dengan kantor regional di London dan Tokyo. Selain itu, perusahaan ini juga memiliki kantor-kantor cabang di seluruh dunia. Pada 15 September 2008, Lehman Brothers meminta perlindungan atas kebangkrutan sesuai Bab 11 Undang-Undang Kepailitan AS.[1] Kewajiban utang terhadap bank dinyatakan sejumlah AS$613 miliar, AS$155 miliar utang obligasi, sementara aset yang dimiliki hanya sejumlah AS$639 miliar.[2] Manajemen perusahaan masih meneruskan kegiatan bisnis sehari-hari, namun semua keputusan bisnis penting harus disetujui lebih dulu oleh pengadilan kepailitan.[3]

Di bawah kepemimpinan keluarga Lehman, 1850–1969
Pada tahun 1844, Henry Lehman, anak seorang pedagang ternak yang berusia 23 tahun, memutuskan untuk pindah dari Rimpar, Bavaria ke Amerika Serikat. [4] Ia menetap di Montgomery, Alabama [5] dan membuka sebuah toko yang diberi nama H. Lehman.[6] Pada tahun 1847, Emanuel Lehman datang ke kota yang sama dan bekerja sama dengan Henry membentuk H. Lehman and Bro.[7] Pada tahun 1850, adik bungsu mereka, Mayer Lehman, datang juga ke sana sehingga nama perusahaan diganti lagi menjadi "Lehman Brothers".[6][8]
Di Daerah Selatan Amerika Serikat pada tahun 1850-an, kapas menjadi komoditas utama. Mereka membuka usaha barter dimana orang boleh menukarkan kapas dengan barang dagangan mereka. Bisnis mereka berhasil dan berkembang pesat. Saat Henry wafat akibat demam kuning pada 1855,[6][9] saudara-saudaranya memutuskan untuk berkonsentrasi mengembangkan bisnis komoditas mereka.


Emanuel dan Mayer Lehman
Pada tahun 1858, pusat perdagangan kapas pindah dari Daerah Selatan AS ke New York City. Lehman membuka cabang pertamanya di kawasan Manhattan, tepatnya di 119 Liberty Street, New York City.[9] Kantor cabang ini dipimpin oleh Emanuel yang ketika itu berumur 32 tahun.[6] Pada tahun 1862, timbul kesulitan akibat berkobarnya Perang Saudara Amerika. Mereka akhirnya memutuskan untuk bekerja sama dengan seorang pengusaha kapas bernama John Durr untuk membentuk perusahaan baru. Perusahaan tersebut kemudian diberi nama Lehman, Durr & Co. [10][11] Seusai perang, perusahaan ini menawarkan jasa keuangan untuk membangun kembali Alabama. Pada tahun 1870-an, kantor pusat perusahaan dipindahkan ke New York City. Di sana, mereka turut andil dalam pendirian Bursa Kapas New York. [9][12] Emanuel terus menjabat sebagai Dewan Gubernur hingga 1884. Pada masa-masa ini, perusahaan juga bergerak dalam bidang bisnis surat utang untuk perusahaan kereta api dan bisnis konsultasi finansial.
Lehman menjadi anggota Bursa Kopi sekitar tahun 1883 dan menjadi anggota Bursa Saham New York pada 1887.[9][12] Pada tahun 1899, Lehman menjadi penjamin emisi saham preferen dan saham biasa dari perusahaan International Steam Pump Company.
Pada tahun 1906, perusahaan ini berkongsi dengan Goldman, Sachs & Co.,[13][14] dan membentuk General Cigar Co. [15] serta meresmikan Sears, Roebuck and Company [15]. Pada dua dekade selanjutnya, Lehman banyak mendanai perusahaan-perusahaan baru, sebagian besar di antaranya berupa kerja sama dengan Goldman, Sachs. Perusahaan-perusahaan itu antara lain F.W. Woolworth Company,[16][15]May Department Stores Company, Gimbel Brothers, Inc.,[17] R.H. Macy & Company,[17] The Studebaker Corporation,[16] B.F. Goodrich Co., dan Endicott Johnson Corporation.


Herbert H. Lehman
Foto resmi Senat AS
Ketika Philip Lehman pensiun pada tahun 1925, anaknya Robert "Bobbie" Lehman mengambil alih puncak pimpinan. Pada masanya, perusahaan mengalami kesulitan permodalan akibat terjadinya Depresi Besar di Amerika Serikat. Setelah depresi berakhir, mereka memutuskan untuk berkonsentrasi pada bidang modal ventura. Di tahun 1928, perusahaan pindah ke One William Street.
Pada tahun 1924, John M. Hancock bergabung dan menjadi anggota pertama yang bukan berasal dari keluarga Lehman,[13][18] diikuti oleh Monroe C. Gutman dan Paul Mazur di tahun 1927.
Pada tahun 1930-an, Lehman memberikan bantuan dana untuk Radio Corporation of America (RCA)[19] serta beberapa perusahaan minyak, termasuk Halliburton dan Kerr-McGee.


Pete Peterson
Pada tahun 1950-an, Lehman menjadi penjamin emisi sewaktu Digital Equipment Corporation melakukan penawaran saham perdana. Di kemudian hari, Lehman mengatur akuisisi Digital oleh Compaq. Pada tahun 1969, Robert Lehman wafat,[20] dan sejak saat itu, tak ada seorang pun keluarga Lehman yang memimpin perusahaan. Meninggalnya Robert membawa perusahaan pada masa-masa sulit. Pada tahun 1973, Pete Peterson, Chairman sekaligus Chief Executive Officer Bell & Howell membeli Lehman untuk menyelamatkan perusahaan tersebut.[20]
[sunting]Merger dengan American Express (1969–94)
Di bawah kepemimpinan Peterson, Lehman Brothers membeli Abraham & Co. pada 1975. Pada 1975, perusahaan melakukan merger lagi dengan Kuhn, Loeb & Co. [20] dan membentuk Lehman Brothers, Kuhn, Loeb Inc. yang kemudian menjadi bank investasi terbesar ke-4 di Amerika Serikat setelah Salomon Brothers, Goldman Sachs, dan First Boston. [21] Peterson berhasil membawa perusahaan keluar dari kerugian, bahkan membuat rekor keuntungan selama lima tahun berturut-turut dan membuat Lehman memiliki return on equity terbesar dibandingkan bank investasi lainnya.
Berkas:Shearson Lehman Logo.jpg
Logo Shearson Lehman/American Express
Namun, terjadi perselisihan antara para banker investasi dengan trader sehingga memaksa Peterson untuk mengangkat presiden, COO, dan formal trader Lewis Glucksman, untuk menjadi co-CEO pada bulan Mei 1983. Glucksman mengadakan beberapa pengubahan yang mengakibatkan tensi di perusahaan semakin besar, digabungkan dengan gaya manajemen Glucksman dan kemunduran di pasar, terjadi perebutan kepemimpinan yang berakhir dengan dipecatnya Peterson dan diangkatnya Glucksman menjadi CEO.[22] ,
Banker-banker yang marah, yang merasa dirugikan dengan adanya konflik kepemimpinan, meninggalkan perusahaan. Steve Schwarzman, ketua komite M&A, mengatakan dalam wawancara bersama Private Equity International bahwa "Lehman Brothers had an extremely competitive internal environment, which ultimately became dysfunctional." Perusahaan mengalami disintegrasi besar, dan Glucksman ditekan untuk menjual saham perusahaan ke Shearson, sebuah perusahaan transaksi elektronik yang didanai oleh American Express, pada tahun 1984, dengan nilai $360 juta. Pada tanggal 11 Mei, perusahaan gabungan ini diberi nama Shearson Lehman/American Express.[22] Pada 1988, Shearson Lehman/American Express dan E.F. Hutton & Co. bergabung membentuk Shearson Lehman Hutton Inc. [23]
[sunting]Dewan direksi

Richard S. Fuld, Jr., Chairman dan Chief Executive Officer [24]
Michael L. Ainslie [24]
John F. Akers [24]
Roger S. Berlind [24]
Thomas Cruikshank [24]
Marsha Johnson Evans [24]
Sir Christopher Gent [24]
Roland A. Hernandez [24]
Dr. Henry Kaufman [24]
John D. Macomber [24]

--

ehman Brothers Holdings Inc. (former NYSE ticker symbol LEH) (pronounced /ˈliːmən/) was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA (behind Goldman Sachs, Morgan Stanley, and Merrill Lynch), doing business in investment banking, equity and fixed-income sales and trading (especially U.S. Treasury securities), market research, investment management, private equity, and private banking.
On September 15, 2008, the firm filed for Chapter 11 bankruptcy protection following the massive exodus of most of its clients, drastic losses in its stock, and devaluation of its assets by credit rating agencies. The filing marked the largest bankruptcy in U.S. history,[3] and is thought to have played a major role in the unfolding of the late-2000s global financial crisis. The following day, Barclays announced its agreement to purchase, subject to regulatory approval, Lehman's North American investment-banking and trading divisions along with its New York headquarters building.[4][5] On September 20, 2008, a revised version of that agreement was approved by US Bankruptcy Court Judge James M. Peck.[6] The next week, Nomura Holdings announced that it would acquire Lehman Brothers' franchise in the Asia-Pacific region, including Japan, Hong Kong and Australia,[7] as well as Lehman Brothers' investment banking and equities businesses in Europe and the Middle East. The deal became effective on 13 October 2008.[8]

Under the Lehman family (1850–1969)


Emanuel and Mayer Lehman
In 1844, 23-year-old Henry Lehman,[9] the son of a cattle merchant, emigrated to the United States from Rimpar, Bavaria.[10] He settled in Montgomery, Alabama,[9] where he opened a dry-goods store, "H. Lehman".[11] In 1847, following the arrival of his brother Emanuel Lehman, the firm became "H. Lehman and Bro."[12] With the arrival of their youngest brother, Mayer Lehman, in 1850, the firm changed its name again and "Lehman Brothers" was founded.[11][13]
During the 1850s, cotton was one of the most important crops in the United States. 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,[11][14] the remaining brothers continued to focus on their commodities-trading/brokerage operations.
By 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,[14] and 32-year-old Emanuel relocated there to run the office.[11] 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.[15][16] 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;[14][17] 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.


Herbert H. Lehman
Official U.S. Senate Photo
Lehman became a member of the Coffee Exchange as early as 1883 and finally the New York Stock Exchange in 1887.[14][17] 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.,[18][19] to bring the General Cigar Co. to market,[20] followed closely by Sears, Roebuck and Company.[20] 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,[20][21] May Department Stores Company, Gimbel Brothers, Inc.,[22] R.H. Macy & Company,[22] The Studebaker Corporation,[21] the B.F. Goodrich Co. and Endicott Johnson Corporation.
Following 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.
Traditionally, a family-only partnership, in 1924 John M. Hancock became the first non-family member to join the firm,[18][23] followed by Monroe C. Gutman and Paul Mazur in 1927. By 1928, the firm moved to its now famous One William Street location.


Pete Peterson
In the 1950s, Lehman underwrote the IPO of Digital Equipment Corporation.
In the 1930s, Lehman underwrote the initial public offering of the first television manufacturer, DuMont, and helped fund the Radio Corporation of America (RCA).[24] It also helped finance the rapidly growing oil industry, including the companies Halliburton and Kerr-McGee. Later, it arranged the acquisition of Digital by Compaq.
[edit]An evolving partnership (1969–1984)
Robert Lehman died in 1969 after forty-four years as the patriarch of the firm, leaving no member of the Lehman family actively involved with the partnership.[25] Robert's death, coupled with a lack of a clear successor from within the Lehman family left a void in the company. At the same time, Lehman was facing strong headwinds amidst the difficult economic environment of the early 1970s. By 1972, the firm was facing hard times and in 1973, Pete Peterson, Chairman and Chief Executive Officer of the Bell & Howell Corporation, was brought in to save the firm.[25]
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.,[25] to form Lehman Brothers, Kuhn, Loeb Inc., the country's fourth-largest investment bank, behind Salomon Brothers, Goldman Sachs and First Boston.[26] 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.
By the early 1980s, 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.[27]
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.
[edit]Merger with American Express (1984–1994)


Shearson Lehman/American Express Logo
Main article: Shearson Lehman Hutton
Shearson/American Express, an American Express-owned securities company focused on brokerage rather than investment banking, acquired Lehman in 1984, for $360 million. On May 11, the combined firms became Shearson Lehman/American Express.[27] In 1988, Shearson Lehman/American Express and E.F. Hutton & Co. merged as Shearson Lehman Hutton Inc.[28]
From 1983 to 1990, Peter A. Cohen was CEO and Chairman of Shearson Lehman Brothers,[29] where he led the one billion dollar purchase of E.F. Hutton to form Shearson Lehman Hutton.[30] During this period, Shearson Lehman was aggressive in building its leveraged finance business in the model of rival Drexel Burnham Lambert. In 1989, Shearson backed F. Ross Johnson's management team in its attempted management buyout of RJR Nabisco but were ultimately outbid by private equity firm Kohlberg Kravis Roberts, who was backed by Drexel.
[edit]Divestment and independence (1994–2008)
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[31] and in 1994 it spun off Lehman Brothers Kuhn Loeb in an initial public offering, as Lehman Brothers Holdings, Inc.[32]
Despite rumors that it would be acquired again, Lehman performed quite well under Chairman and CEO Richard S. Fuld, Jr.. By 2008, Fuld had been with the company for 30 years, and would be the longest-tenured CEO on Wall Street. Fuld had steered Lehman through the 1997 Asian Financial Crisis, a period where the firm's share price dropped to $22 USD in 1998, but he was said to have underestimated the downturn in the US housing market and its effect on Lehman's mortgage bond underwriting business. Fuld kept his job as the subprime mortgage crisis took hold, while CEOs of rivals like Bear Stearns, Merrill Lynch, and Citigroup were forced to resign.[33] In addition, Lehman's board of directors, which includes retired CEOs like Vodafone's Christopher Gent and IBM's John Akers were reluctant to challenge Fuld as the firm's share price spiraled lower. [33]
Fuld had a succession of "number twos" under him, usually titled as President and Chief Operating Officer. Chris Pettit was Fuld's second-in-command for two decades until November 26, 1996, when he resigned as President and board member. Pettit lost a power struggle with his deputies ( Steve Lessing, and Joseph M. Gregory) back on March 15 that year that caused him to relinquish its COO title, likely brought about after Pettit had a mistress which violated Fuld's unwritten rules on marriage and social etiquette. Bradley Jack and Joseph M. Gregory were appointed co-COOs in 2002, however Jack was demoted to the Office of the Chairman in May 2004 and departed in June 2005 with a severance package of $80 million, making Gregory the sole COO and President. Gregory was demoted on June 12, 2008 and replaced by Bart McDade, who would see Lehman through bankruptcy. [34][35]
In 2001, the firm acquired the private-client services, or "PCS", business of Cowen & Co.[36] and later, in 2003, aggressively re-entered the asset-management business, which it had exited in 1989.[37] Beginning with $2 billion in assets under management, the firm acquired the Crossroads Group, the fixed-income division of Lincoln Capital Management[37] and Neuberger Berman.[38] 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 pretax 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.
At the 2008 ALB China Law Awards,[39] Lehman Brothers was crowned:
Deal of the Year – Debt Market Deal of the Year
Deal of the Year – Equity Market Deal of the Year
[edit]Response to September 11 terrorist attacks


The Former New York City headquarters now owned by Barclays.
On September 11, 2001, Lehman occupied three floors of One World Trade Center where one of its employees was killed in the attacks of that day. 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 in a hotel 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 (98,000 m2) 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.[citation needed]
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 (70,000 m2) 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.[40]
[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]Collapse

Main article: Bankruptcy of Lehman Brothers
[edit]Causes
[edit]Malfeasance
A March 2010 report by the court-appointed examiner indicated that Lehman executives regularly used cosmetic accounting gimmicks at the end of each quarter to make its finances appear less shaky than they really were. This practice was a type of repurchase agreement that temporarily removed securities from the company's balance sheet. However, unlike typical repurchase agreements, these deals were described by Lehman as the outright sale of securities and created "a materially misleading picture of the firm’s financial condition in late 2007 and 2008."[41]
[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".[42]
In 2008, Lehman faced an unprecedented loss to the continuing subprime mortgage crisis. Lehman's loss was a result of having held on to large positions in subprime and other lower-rated mortgage tranches when securing 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.[43] In the first half of 2008 alone, Lehman stock lost 73% of its value as the credit market continued to tighten.[43] 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.[43]
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.[44] 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."[45] 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.[46]
On September 17, 2008 Swiss Re estimates its overall net exposure to Lehman Brothers as approximately CHF 50 million.[47]
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.[48] The U.S. government did not announce any plans to assist with any possible financial crisis that emerged at Lehman.[49]
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.[50][51] The stock slid seven percent that day.[51][52] 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.[52]
Just before the collapse of Lehman Brothers, executives at Neuberger Berman sent e-mail memos suggesting, among other things, that the Lehman Brothers' top people forgo multi-million dollar bonuses to "send a strong message to both employees and investors that management is not shirking accountability for recent performance."[53]
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 the water at Neuberger Berman. I'm embarrassed and I apologize."[53]
[edit]Short-selling allegations
During hearings on the bankruptcy filing by Lehman Brothers and bailout of AIG before the House Committee on Oversight and Government Reform,[54] former Lehman Brothers CEO Richard Fuld said a host of factors including a crisis of confidence and naked short-selling attacks followed by false rumors contributed to both the collapse of Bear Stearns and Lehman Brothers. House committee Chairman Henry Waxman said the committee received thousands of pages of internal documents from Lehman and these documents portray a company in which there was “no accountability for failure".[55][56][57]
An article by journalist Matt Taibbi in Rolling Stone contended that naked short selling contributed to the demise of both Lehman and Bear Stearns.[58] A study by finance researchers at the University of Oklahoma Price College of Business studied trading in financial stocks, including Lehman Brothers and Bear Stearns, and found "no evidence that stock price declines were caused by naked short selling".[59]
[edit]Bankruptcy
On Saturday, 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.[60] Lehman reported that it had been in talks with Bank of America and Barclays for the company's possible sale. However, both Barclays and Bank of America ultimately declined to purchase the entire company.[60][61]
The next day, Sunday, September 14, the International Swaps and Derivatives Association (ISDA) offered an exceptional trading session to allow market participants to offset positions in various derivatives on the condition of a Lehman bankruptcy later that day.[62][63] Although the bankruptcy filing missed the deadline, many dealers honored the trades they made in the special session.[64]


Lehman Brothers headquarters in New York City on September 15, 2008
Shortly before 1 a.m. Monday morning (New York time), Lehman Brothers Holdings announced it would file for Chapter 11 bankruptcy protection[65] citing bank debt of $613 billion, $155 billion in bond debt, and assets worth $639 billion.[66] It further announced that its subsidiaries would continue to operate as normal.[67] 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.[68] The morning witnessed scenes of Lehman employees removing files, items with the company logo, and other belongings from the world headquarters at 745 Seventh Avenue. The spectacle continued throughout the day and into the following day.
Later that day, the Australian Securities Exchange (ASX) suspended Lehman's Australian subsidiary as a market participant after clearing-houses terminated their contracts with the firm.[69] Lehman shares tumbled over 90% on September 15, 2008.[70][71] The Dow Jones closed down just over 500 points on September 15, 2008, which was at the time the largest drop in a single day since the days following the attacks on September 11, 2001.[72]
In the United Kingdom, the investment bank went into administration with PricewaterhouseCoopers appointed as administrators.[73] 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.[74] On September 17, 2008, the New York Stock Exchange delisted Lehman Brothers.[75]
On March 16, 2011 some three years after filing for bankruptcy and following a filing in a Manhattan U.S. bankruptcy court, Lehman Brothers Holdings Inc announced it would seek creditor approval of its reorganization plan by October 14 followed by a confirmation hearing to follow on November 17.[76]
[edit]Liquidation
[edit]Barclays acquisition
On Tuesday, September 16, 2008, Barclays plc announced that they would acquire a "stripped clean" portion of Lehman for $1.75 billion, including most of Lehman's North America operations.[4][77] On September 20, this transaction was approved by U.S. Bankruptcy Judge James Peck.[78][79]
On September 20, 2008, a revised version of the deal, a $1.35 billion (£700 million) plan for Barclays to acquire the core business of Lehman (mainly its $960-million headquarters, a 38-story office building[80] in Midtown Manhattan, 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."[81]
Luc Despins, then a partner at Milbank, Tweed, Hadley & McCloy, 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."[citation needed] 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 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."[citation needed] 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.[82] Barclays acquired 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.[83][84]
[edit]Nomura acquisition
Nomura Holdings, Japan's top brokerage firm, agreed to buy the Asian division of Lehman Brothers for $225 million and parts of the European division for a nominal fee of $2.[85][86] It would not take on any trading assets or liabilities in the European units. Nomura negotiated such a low price because it acquired only Lehman's employees in the regions, and not its stocks, bonds or other assets. The last Lehman Brothers Annual Report identified that these non-US subsidiaries of Lehman Brothers were responsible for over 50% of global revenue produced.[87]
[edit]Sale of Neuberger Berman
On September 29, 2008, Lehman agreed to sell Neuberger Berman, the bulk of its investment management business, to a pair of private-equity firms, Bain Capital Partners and Hellman & Friedman, for $2.15 billion.[88] The transaction was expected to close in early 2009, subject to approval by the U.S. Bankruptcy Court,[89] but a competing bid was entered by the firm's management, who ultimately prevailed in a bankruptcy auction on December 3, 2008. Creditors of Lehman Brothers Holdings Inc. retain a 49% common equity interest in the firm, now known as Neuberger Berman Group LLC.[90] It is the fourth largest private employee-controlled asset management firm globally, behind Fidelity Investments, The Capital Group Companies and Wellington Management Company.
[edit]Financial fallout
Lehman's bankruptcy was the largest failure of an investment bank since Drexel Burnham Lambert collapsed amid fraud allegations 18 years prior.[68] Immediately following the bankruptcy filing, an already distressed financial market began a period of extreme volatility, during which the Dow experienced its largest one day point loss, largest intra-day range (more than 1,000 points) and largest daily point gain. What followed was what many have called the “perfect storm” of economic distress factors and eventually a $700bn bailout package (Troubled Asset Relief Program) prepared by Henry Paulson, Secretary of the Treasury, and approved by Congress. The Dow eventually closed at a new six-year low of 7,552.29 on November 20, followed by a further drop to 6626 by March of the next year.
The fall of Lehman also had a strong effect on small private investors such as bond holders and holders of so-called Minibonds. In Germany structured products, often based on an index, were sold mostly to private investors, elderly, retired persons, students and families. Most of those now worthless derivatives were sold by the German arm of Citigroup, the German Citibank now owned by Crédit Mutuel.
[edit]Ongoing litigation
On March 11, 2010, Mangal H Pandey, a court-appointed examiner, published the results of its year-long investigation into the finances of Lehman Brothers.[91] This report revealed that Lehman Brothers used an accounting procedure termed repo 105 to temporarily exchange $50 billion of assets into cash just before publishing its financial statements.[92] The action could be seen to implicate both Ernst & Young, the bank's accountancy firm and Richard S. Fuld, Jr, the former CEO.[93] This could potentially lead to Ernst & Young being found guilty of financial malpractice and Fuld facing time in prison.[94]
According to the Wall Street Journal, in March 2011, the SEC announced that they weren't confident that they could prove that Lehman Brothers violated US laws in its accounting practices.[95]
[edit]Merger and acquisition history

The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):[96]
Lehman Brothers
(1994, spun-off by American Express;
2008, bankrupt – see Bankruptcy of Lehman Brothers)

Shearson Lehman Hutton
(merged 1988)
Shearson Lehman Brothers
(merged 1984)
Shearson/American Express
(merged 1981)

American Express
(est. 1850)

Shearson Loeb Rhoades
(acquired 1981)
Shearson Hayden Stone
(merged 1973)
Hayden Stone, Inc. (formerly CBWL-Hayden Stone, merged 1970)

Cogan, Berlind, Weill & Levitt
(formerly Carter, Berlind, Potoma & Weill, est. 1960)


Hayden, Stone & Co.



Shearson, Hammill & Co.
(est. 1902)


Loeb, Rhoades, Hornblower & Co.
(merged 1978)
Loeb, Rhoades & Co.
(merged 1937)

Carl M. Loeb & Co.
(est. 1931)


Rhoades & Company
(est. 1905)


Hornblower, Weeks, Noyes & Trask
(merged 1953–1977)

Hornblower & Weeks
(est. 1888)


Hemphill, Noyes & Co.
(est. 1919, acq. 1963)


Spencer Trask & Co.
(est. 1866 as Trask & Brown)


Paul H. Davis & Co.
(est. 1920, acq. 1953)





Lehman Brothers Kuhn Loeb
(merged 1977)
Lehman Brothers
(merged 1975)

Abraham & Co.
(est. 1938)


Lehman Brothers
(est. 1850)



Kuhn, Loeb & Co.
(est. 1867)




E. F. Hutton & Co.
(est. 1904)



Neuberger Berman
(est. 1939, acq. 2003,
sold to management 2009)


Crossroads Group
(est. 1981, acq. 2003)

Board of directors

Richard S. Fuld, Jr., Chairman and Chief Executive Officer[97]
Michael L. Ainslie[97]
John F. Akers[97]
Roger S. Berlind[97]
Thomas Cruikshank[97]
Marsha Johnson Evans[97]
Sir Christopher Gent[97]
Roland A. Hernandez[97]
Dr. Henry Kaufman[97]
John D. Macomber[97]
[edit]Former officers

Richard S. Fuld, Jr.
Tom Russo
Scott J. Freidheim
Bart McDade
Joe Gregory
Ion Lowitt
Jessie Bhattal
Jeremy Isaacs (not Sir Jeremy Issacs the British television producer and executive)
Skip McGee
George Walker
Michael Gelband
[edit]In popular culture

In the 2010 animated film Despicable Me, Lehman Brothers is referenced near the beginning. The main character travels to the Bank of Evil, the bank that funds all evil plots for villains around the world, to try to take out a loan. As he passes under the banner with the bank's name, and under "Bank of Evil", in small letters, it reads, "Formerly Lehman Brothers".
[edit]Principal locations (first year of occupancy)

17 Court Square, Montgomery, Alabama (1847)*[98]
119 Liberty Street, New York, NY (1858)[98]
176 Fulton Street, New York, NY (1865–1866?)[17][98]
133–35 Pearl Street, New York, NY (1867)[17][98]
40 Exchange Place, New York, NY (1876)[17][98]
16 William Street, New York, NY (1892)[98]
One William Street, New York, NY (1928) **[98]
55 Water Street (1980) ***[99]
3 World Financial Center (1985)[100]
745 Seventh Avenue, New York, NY (2002)[101]
* Henry Lehman established his first store location on Commerce Street, in Montgomery, in 1845. In 1848, one year after Emanuel's arrival, the brothers moved "H. Lehman & Bro." to 17 Court Square, where it remained when Mayer arrived in 1850, forming "Lehman Brothers".
** Designated as a landmark by the New York City Landmarks Preservation Committee in 1996.
*** Sales and trading personnel had been in this location since 1977, when they were joined by the firm's investment bankers and brokers.

--

JPMorgan Chase & Co. (NYSE: JPM) adalah sebuah firma sekuritas, perbankan investasi dan perbankan eceran global Amerika Serikat. Firma ini merupakan penyedia jasa keuangan besar dengan aset senilai $2 trilyun dan merupakan institusi perbankan AS yang memiliki kapitalisasi pasar kedua di negara ini[2] dan dasar deposito domestik terbesar ketiga (setelah Wells Fargo dan Bank of America). Unit pengelola investasi global JPMorgan Chase adalah yang terbesar di Amerika Serikat dengan aset senilai $53,5 milyar pada akhir 2009.[3] Perusahaan ini dibentuk tahun 2000, ketika Chase Manhattan Corporation bergabung dengan J.P. Morgan & Co.
Merek J.P. Morgan digunakan oleh divisi Bank Investasi, Pengelolaan Aset, Perbankan Swasta, Pengelolaan Kekayaan Global, dan Jasa Keuangan & Sekuritas. Aktivitas penggadaian di divisi Perbankan Swasta dan Pengelolaan Kekayaan Pribadi dilakukan di bawah perlindungan JPMorgan Chase Bank, N.A.—perwakilan aslinya. Merek CHASE digunakan untuk jasa kartu kredit di Amerika Serikat dan Kanada, aktivitas perbankan eceran bank di Amerika Serikat, serta perbankan komersial. Kantor pusatnya terletak di New York City, sementara bank eceran dan komersialnya berkantor pusat di Chicago.[4]
JPMorgan Chase adalah salah satu bank Empat Besar di Amerika Serikat bersama Bank of America, Citigroup dan Wells Fargo.[5][6][7][8][9][10]

Lehman Brothers Bangkrut
Dadan Kuswaraharja - detikFinance



Foto: Reuters


Lehman Brothers Bangkrut
Lehman Brothers Bangkrut
Washington - Bank investasi besar Wall Street, Lehman Brothers akhirnya tak kuat membendung masalah kredit macetnya. Bank berusia 158 tahun itu akhirnya mengajukan kebangkrutan guna melindungi aset dan memaksimalkan nilai perusahaan.

Demikian pernyataan dari dewan direktur Lehman Brothers, seperti dikutip AFP, Senin (15/9/2008). Bank investasi terbesar keempat AS ini akan menyampaikan formulir kebangkrutan ke United States Bankruptcy Court for the Southern District of New York pada hari Senin ini.

"Nasabah Lehman Brothers, termasuk nasabah anak perusahaan, Neuberger Berman Holdings LLC, tetap bisa melanjutkan transaksi dengan menggunakan account mereka," demikian bunyi pernyataan direksi Lehman Brothers.

Lehman ini mencatat kerugian sekitar US$ 3,9 miliar pada triwulan ketiga 2008 menyusul beberapa hapus buku pada aset mortgage-nya.

Pengumuman kebangkrutan itu muncul setelah tidak adanya pembeli yang pas sebagai investor baru Lehman Brothers. Keputusan ini sekaligus menjadi akhir dari pertemuan 3 hari berturut-turut yang digelar para bankir, bank sentral AS dan Depkeu AS. (ddn/qom)

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10 Bank Investasi Siapkan US$ 70 Miliar untuk Selamatkan Lehman
Dadan Kuswaraharja - detikFinance



Foto: Reuters


Washington - Upaya penyelamatan bank investasi, Lehman Brothers yang diambang kebangkrutan terus dilakukan. Sebanyak 10 bank investasi global membentuk konsorsium yang menyediakan dana hingga US$ 70 miliar untuk mengantisipasi runtuhnya Lehman Brothers.

Seperti dikutip AFP, Senin (15/9/2008) 10 bank itu adalah Bank of America, Barclays, Citibank, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Merrill Lynch, Morgan Stanley, dan UBS.

Dalam pernyataan bersamanya, 10 bank itu sepakat untuk membantu meningkatkan likuiditas, mencegah volatilitas dan tantangan lain yang bisa mempengaruhi ekuitas dan pasar utang global.

Bank-bank itu sepakat untuk membuat suatu fasilitas utang dengan kolateral atau collateralized borrowing facility senilai US$ 70 miliar. Masing-masing bank menyumbang US$ 7 miliar untuk membantu akses kredit.

"Tindakan ini mencerminkan situasi pasar yang di luar kebiasaan," demikian bunyi pernyataan bersama itu.

Mereka siap bekerja sama dengan Depkeu AS, Bank Sentral AS, Securities and Exchange Commission (Bapepam AS), dan regulator pasar modal dunia untuk memastikan terciptanya kecukupan likuiditas dan memberikan jaminan terhadap sistem pasar modal dan bank.

Ke-10 bank itu juga menyatakan, langkah tersebut akan dikuatkan oleh keputusan The Fed untuk menerima kumpulan kolateral bagi pinjaman darurat tersebut, termasuk saham untuk pertama kalinya.

"Langkah The Fed bersamaan dengan komitmen yang signifikan dari sektor swasta ditujukan untuk memitigasi potensi risiko dan gangguan pasar," kata Gubernur Bank Sentral AS, Ben Bernanke seperti dikutip dari Reuters.

Lehman sebelumnya diprediksi akan segera mendaftarkan kepailitasn setelah rencana untuk mendapatkan pembeli gagal. Setelah kisruh Lehman, Bank of America dikabarkan akan segera mengumumkan rencana pembelian US$ 44 miliar untuk Merrill Lynch. (ddn/qom)

--

2 Bankir Veteran Pimpin Fannie Mae dan Freddie Mac
Nurul Qomariyah - detikFinance



Menkeu AS Saat mengumumkan (Reuters)


Fannie & Freddie Diambil Alih Pemerintah AS
New York - Setelah mengambil alih Fannie Mae dan Freddie Mac, pemerintah AS selanjutnya menempatkan dua bankir veteran untuk memimpin dua perusahaan pembiayaan perumahan itu.

Herb Allison, 65, mantan presiden Merril Lynch akan memimpin Fannie Mae. Sementara David Moffett, 56, mantan eksekutif Bancorp akan menjadi CEO Freddie Mac.

Kedua orang pejabat yang ditunjuk untuk memimpin Fannie Mae dan Freddie Mac itu memiliki keterkaitan dengan partai Republik. Pada tahun 1999 dan 2000, Allison merupakan pimpinan finansial untuk kampanye utama senator John MacCain, yang kini menjadi kandidat presiden AS.

Sementara Moffet sebelumnya berkontribusi untuk kampanye senat tahun 2004 untuk Peter Coors dari partai Republik. Dan kini tugas berat harus dipikul oleh Allison dan Moffet.

"Kedua orang tersebut memiliki kapabilitas yang tinggi, situasi sekarang benar-benar menantang meski untuk orang yang sangat bertalenta," jelas Eugene Ludwig, pendiri lembaga konsultan Promontory Financial seperti dikutip dari Reuters, Senin (11/9/2008).

"Mereka berurusan dengan isu yang sangat besar. Mereka memiliki masalah modal yang harus dihadapi, ada pula isu pendanaan yang sangat serius. Mereka juga memiliki isu personel," tambah Ludwig.

Pemerintah AS secara resmi mengumumkan rencana pengambilalihan dua perusahaan pembiayaan perumahan, Fannie Mae dan Freddie Mac.

Kedua perusahaan itu kini ditempatkan dalam 'conservatorship' milik pemerintah AS, guna memulihkan sisten finansial dari kerugian pembiayaan perumahan secara besar-besaran.

Termasuk dalam rencana tersebut adalah, Depkeu AS akan segera mengambil US$ 1 miliar saham di setiap perusahaan dalam bentuk saham preferen senior jika diperlukan, dan dapat menyuntikkan hingga US$ 100 miliar jika diperlukan untuk masing-masing perusahaan.

Depkeu AS juga mengatur program untuk membeli surat berharga berbasis hipotek atau mortgage backed securities (MBS) yang dimiliki Fannie dan Freddie untuk menyuntikkan modal baru ke pasar hipotek.

Fannie dan Freddie kini menjamin hampir separuh dari utang kredit perumahan AS senilai US$ 12 miliar. Akibat merosotnya sektor perumahan AS, kedua perusahaan itu pada 4 kuartal terakhir telah kehilangan hingga US$ 14 miliar, sementara sahamnya merosot hingga 90%.

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Fannie Mae dan Freddie Mac Diambil Alih Pemerintah AS
Nurul Qomariyah - detikFinance



Foto: Reuters


Fannie & Freddie Diambil Alih Pemerintah AS
New York - Pemerintah Amerika Serikat (AS) secara resmi mengumumkan rencana pengambilalihan dua perusahaan pembiayaan perumahan, Fannie Mae dan Freddie Mac.

Kedua perusahaan itu kini ditempatkan dalam 'conservatorship' milik pemerintah AS, guna memulihkan sistem finansial dari kerugian pembiayaan perumahan secara besar-besaran.

Pengambilalihan Fannie Mae dan Freddie Mac itu diumumkan secara langsung oleh Menteri Keuangan Henry Paulson dan Direktur Badan Keuangan Perumahan Federal AS James Lockhart, Minggu (7/9/2008).

Menurut Paulson, pengambilalihan tersebut merupakan langkah terbaik untuk melindungi pasar AS dan para pembayar pajak dari risiko sistemik yang ditimbulkan oleh kondisi finansial terkini dari dua perusahaan yang disponsori pemerintah atau government-sponsored enterprises (GSE).

"Karena kedua GSE ini kini berada dalam consevatorsip, maka mereka tidak lagi dikelola dengan strategi untuk memaksimalkan tingkat pengembalian kepada pemegang saham, sebuah strategi yang secara historis meningkatkan pengambilan risiko," jelas Paulson dalam pernyataannya seperti dikutip dari AFP, Senin (8/9/2008).

Salah satu keputusan penting dalam rencana penyelamatan Fannie Mae dan Freddie Mac adalah Depkeu dan Badan Keuangan Perumahan Federal AS memungkinkan untuk menerbitkan saham preferen (saham istimewa) yang memungkinkan kedua perusahaan tersebut tetap positif modalnya.

Ini artinya dana tunai akan diinjeksikan jika diperlukan, dan langkah ini lebih efektif ketimbang suntikan modal sekaligus.

"Dengan kesepakatan ini, maka Depkeu akan menerima saham preferen senior dan waran yang melindungi para pembayar pajak," jelas Paulson.

Pengumuman ini sekaligus menjadi akhir dari penyelesaian dua perusahaan pembiayaan yang sangat vital bagi negara adikuasa tersebut. Kedua perusahaan itu kini memiliki atau menjamin hampir setengah dari utang pembiayaan perusahaan di AS senilai US$ 12 triliun.

Sektor perumahan AS memang sedang diterpa krisis yang luar biasa parah, dengan kredit macet sektor perumahan kini sedang menjamur.

Fannie Mae merupakan perusahaan pembiayaan perumahan yang didirikan pada tahun 1938 atas permintaan presiden Franklin D Roosevelt. Sementara Freddie Mac didirikan pada tahun 1970, guna memberikan kompetisi dengan Fannie Mae.

Baik Fannie Mae maupun Freddie Mac didirikan untuk memberikan pembiayaan perumahan murah bagi rakyat AS. Kedua perusahaan tidak mendapatkan pendanaan sama sekali dari pemerintah AS, namun 5 dari 18 direktur Freddie Mac ditunjuk oleh pemerintah AS.

Fannie Mae memiliki 4.700 pegawai dan bermarkas di Washington, sementara Freddie Mac memiliki 5.000 karyawan dan berlokasi di MacLean, Virginia.

Kedua perusahaan ini tidak memberikan pembiayaan langsung kepada para pembeli rumah. Namun keduanya membantu pasar perumahan AS dengan membelinya dari perbankan dan pihak yang menyewakan rumah, 'mengolahnya' menjadi surat berharga untuk kemudian menjualnya kepada investor.

Kreditor selanjutnya dapat menggunakan hasil dari menjual pinjaman yang dijamin oleh Fannie Mae dan Freddie Mac untuk mendanai pinjaman rumah baru.

Kedua perusahaan itu juga meningkatkan likuiditas dan kemampuan pendanaan hipotek dengan menerbitkan surat utang kepada investor internasional.Tak heran, krisis kedua perusahaan ini mampu menyeret-nyeret juga institusi keuangan internasional. Sejumlah bank-bank investasi diluar AS diketahui juga memiliki eksposure di subprime mortgage AS ini.


Dana yang diperoleh dari penerbitan utang itu selanjutnya digelontorkan lagi ke pasar pembiayaan perumahan, sehingga kreditor dapat mendapatkan modal yang lebih banyak.

Freddie Mac memiliki portofolio utang sekitar US$ 1,5 triliun, sementara Fannie Mae sekitar US$ 700 miliar. Keduanya memiliki atau menjamin US$ 5,2 triliun utang atau sekitar 40% dari total nilai kredit rumah di AS.

Masalah muncul ketika sejumlah bank dan para kreditor perumahan mengalami kerugian besar dalam pembukuan hipoteknya sehubungan dengan meningkatnya penyitaan rumah dan anjloknya penjualan rumah akibat melemahnya sektor perumahan AS dalam dua tahun terakhir.

Akibat belitan berbagai masalah tersebut, saham keduanya sudah merosot hingga 90%. Namun keduanya menegaskan masih memiliki modal yang cukup.


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Krisis Global Hantam Investasi Sektor Keuangan ASEAN
Dadan Kuswaraharja - detikFinance



Pertemuan AEM (Foto:Asean)


Jakarta - Krisis keuangan global menghantam sektor keuangan di wilayah ASEAN. Investasi di sektor keuangan pada tahun 2007 mengalami penurunan 43 persen akibat krisis global yang mulai terjadi di awal tahun 2007.

Demikian salah satu pernyataan bersama Menteri Ekonomi ASEAN usai pertemuan Asean Economic Ministers (AEM) di Singapura 25-26 Agustus seperti dikutip situs Depdag, Kamis (28/8/2008).

Padahal sektor ini mencatat pertumbuhan tertinggi kedua di tahun 2006. Namun meski mengalami penurunan yang cukup tajam dari sisi nominal, investasi di sektor intermediasi dan jasa keuangan merupakan penerima dana investasi terbesar setelah manufaktur dan perdagangan.

Aliran modal asing yang masuk ke wilayah ASEAN pada tahun 2007 mencatat rekor dalam 10 tahun terakhir. Aliran modal asing atau foreign direct investment di kawasan ini mencapai US$ 61,5 miliar pada 2007. Ini merupakan angka tertinggi sejak 1998. FDI pada 2006 hanya mencapai US$ 51 miliar.

Pertumbuhan yang signifikan terjadi di sektor pertanian, perikanan dan kehutanan, real estate, pertambangan, manufaktur, konstruksi dan pertambangan.

Masih cukup tingginya investasi ini menunjukkan ASEAN masih menjadi kawasan tujuan investasi. Eropa masih merupakan partner terbaik dengan membukukan nilai investasi sebesar US$ 14,3 miliar disusul Jepang US$ 8,9 miliar, Amerika US$ 5,1 miliar, Republik Korea US$ 2,7 miliar, China US$ 1 miliar dan Australia US$ 1 miliar. (ddn/ir)

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Krisis Global Hantam Investasi Sektor Keuangan ASEAN
Dadan Kuswaraharja - detikFinance



Pertemuan AEM (Foto:Asean)


Jakarta - Krisis keuangan global menghantam sektor keuangan di wilayah ASEAN. Investasi di sektor keuangan pada tahun 2007 mengalami penurunan 43 persen akibat krisis global yang mulai terjadi di awal tahun 2007.

Demikian salah satu pernyataan bersama Menteri Ekonomi ASEAN usai pertemuan Asean Economic Ministers (AEM) di Singapura 25-26 Agustus seperti dikutip situs Depdag, Kamis (28/8/2008).

Padahal sektor ini mencatat pertumbuhan tertinggi kedua di tahun 2006. Namun meski mengalami penurunan yang cukup tajam dari sisi nominal, investasi di sektor intermediasi dan jasa keuangan merupakan penerima dana investasi terbesar setelah manufaktur dan perdagangan.

Aliran modal asing yang masuk ke wilayah ASEAN pada tahun 2007 mencatat rekor dalam 10 tahun terakhir. Aliran modal asing atau foreign direct investment di kawasan ini mencapai US$ 61,5 miliar pada 2007. Ini merupakan angka tertinggi sejak 1998. FDI pada 2006 hanya mencapai US$ 51 miliar.

Pertumbuhan yang signifikan terjadi di sektor pertanian, perikanan dan kehutanan, real estate, pertambangan, manufaktur, konstruksi dan pertambangan.

Masih cukup tingginya investasi ini menunjukkan ASEAN masih menjadi kawasan tujuan investasi. Eropa masih merupakan partner terbaik dengan membukukan nilai investasi sebesar US$ 14,3 miliar disusul Jepang US$ 8,9 miliar, Amerika US$ 5,1 miliar, Republik Korea US$ 2,7 miliar, China US$ 1 miliar dan Australia US$ 1 miliar. (ddn/ir)

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Bank AS Terus Berguguran
Dadan Kuswaraharja - detikFinance



Foto: Reuters


Jakarta - Tidak tahan dengan krisis kredit perumahan, bank-bank di AS terus berguguran. Kali ini bank yang ditutup adalah Silver State Bank. Bank yang bermarkas di Nevada ini merupakan bank ke-11 yang ditutup tahun ini.

Seperti dikutip Reuters, Minggu (7/9/2008), bank yang memiliki aset sekitar US$ 2 miliar ini ditutup oleh otoritas perbankan Nevada Jumat 5 September lalu. Urusan deposit senilai US$ 1,7 miliar kemudian diserahkan kepada Federal Deposit Insurance Corporation.

Meski perbankannya terus didera krisis sejak tahun 2007 lalu, pemerintah AS belum berencana menyiapkan kebijakan baru untuk meningkatkan ekonominya.

Selain masalah di perbankan, masalah pengangguran di AS juga kembali meningkat. Angka terakhir seperti dikutip BBC, angka pengangguran sudah mencapai 6,1 persen, tertinggi sejak Desember 2003.

Juru bicara Gedung Putih menyatakan meski angka pengangguran mengecewakan, stimulus ekonomi yangsudah diluncurkan sudah memiliki efek yang signifikan.

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Bank of America Akuisisi Merrill Lynch
Nurul Qomariyah - detikFinance



Foto: Reuters


New York - Bank of America akan mengakuisisi Merrill Lynch & Co Inc seharga US$ 29 per lembar. Akuisisi itu akan menciptakan sebuah bank terbesar dari sisi brokerage dan investasi.

Kesepakatan itu muncul setelah sejumlah bankir top AS, pemerintah dan Bank Sentral AS bertemu untuk mencari jalan penyelamatan bagi Lehman Brothers. Nilai akuisisinya diperkirakan mencapai US$ 44 miliar.

Demikian dilaporkan Wall Street Journal yang mengutip sumber-sumber terdekat, sebagaimana dilansir Reuters, Senin (15/9/2008). Sayangnya, baik dari pihak Merrill Lynch maupun Bank of America belum bersedia memberikan komentar.

Merrill -- sebagaimana bank-bank investasi raksasa AS -- kini juga menghadapi permasalahan kredit macet yang berhubungan dengan sektor perumahan. Bulan lalu, CEO Merrill Lynch John Thain mengatur penjualan paket surat berharga senilai US$ 30 miliar kepada Lone Star Funds.

"Saya terkejut bahwa Merrill Lynch ingin menjualnya pada titik ini. Mereka sepertinya mengambil langkah untuk memperbaiki bisnisnya. Mereka menjual banyak aset-aset yang 'beracun'. Merrill bagi saya sudah menunjukkan perbaikan," ujar Bill Fitzpatrick, analis dari Optique Capital.

Jika akuisisi ini akhirnya terwujud, maka ini adalah akusisi tercepat Bank of America sejak tahun 2005. Ketika itu, Bank of America mengakuisisi perusahaan kartu kredit MBNA, hanya seminggu setelah melakukan uji tuntas.


--

Lehman Brothers files for bankruptcy as credit crisis bites

Lehman Brothers, one of the world's biggest investment banks, has announced it is filing for bankruptcy, in one of the worst banking collapses in history.
Meltdown Monday: Markets tumble, thousands lose jobs
As the world economy prepared for a round of devastating blows caused by the credit crisis, Bank of America also agreed to buy Merrill Lynch, another giant of investment banking, for $50 billion in a deal creating the world's largest financial services company and saving Merrill from Lehman's fate.
Asian markets tumbled on the news, while European and American markets were expected to follow soon after opening.
Coupled with moves by other Wall Street giants, billions of pounds worth of value from pension funds and other investments could be wiped by the end of the day.
Lehman Brothers had been left on the verge of collapse after a weekend of talks to find a willing buyer ended without success.
Hank Paulson, the US Treasury Secretary, led the efforts to identify a buyer but the British bank Barclays walked away from a deal.
The news of its crumbling came as the global financial system faced its biggest test in at least half a century as several other of the world's leading firms took drastic emergency action.
American International Group, the world's largest insurance company, was planning a radical restructuring of its business, which would see it sell its aircraft leasing arm and raise $20 billion from new investors.
Alan Greenspan, the former chairman of the US Federal Reserve and a leading economic expert, warned: "Let's recognise that this is a once in a half-century, probably once in a century type of event." He added that it was the worst "by far" he has seen in his career.
The former central banker also warned that "we will see other major firms fail".
Democratic presidential nominee Barack Obama said the uncertainty in the financial markets in the wake of Lehman Brothers filing for bankruptcy poses "a major threat" to the US economy.
Blaming the Bush administration's "economic philosophy", he said: "This turmoil is a major threat to our economy and its ability to create good-paying jobs and help working Americans pay their bills, save for the future and make their mortgage payments."
The collapse of Lehman Brothers, which fell into difficulty as a result of its exposure to the troubled American mortgage market, could also threaten the 4,000 jobs at the bank's European headquarters in London.
The accountancy firm PriceWaterhouseCoopers confirmed this morning that the UK operations of Lehman had gone into administration.
Workers have begun to leave the bank's London headquarters, their personal belongings hastily piled into boxes.
"This is it, I think it's going to be all over," said one, who identified himself only as Gordon before he was moved on by security staff.
It had been hoped that a weekend of talks between some of the world's most senior bankers and leading regulators from the Bush administration would produce a deal to save the bank.
A consortium led by Bank of America was believed to have been first to pull out of the negotiations. Barclays, the UK's third largest bank, has been keen to move into the top tier of global financial institutions, but terminated the talks because of the US government's unwillingness to guarantee Lehman's assets.
The US Treasury was unwilling to commit taxpayers' cash to a bailout of Lehman, marking a distinct change in its attitude to coping with the credit crisis.
Mr Paulson went into the weekend discussions insisting that government money should not be used to resolve Lehman's problems, and that the administration had to draw a line in the sand.
The US Treasury and the Federal Reserve had previously committed taxpayers' money to rescuing Bear Stearns, another bank, in March.
Fannie Mae and Freddie Mac, which underwrite most of America's mortgages, were "nationalised" just a week ago after running into serious difficulties.
In the case of Lehman, however, the US government was unwilling to pursue a similar policy. City analysts had called into question the health of Lehman's balance sheet in spite of several rounds of fund-raising.

--

MONDAY, SEPTEMBER 15, 2008

TSUNAMI ke3..Lehman Brothers Bangkrut


SHORT SQUEEZE MENJELANG CRASH
Minggu lalu (minggu ke 3 bulan Juli 2008) kita melihat pengelola nadi (30%) ekonomi dunia mengalami kepanikan. Pada gelombang pertama tsunami finansial pada bulan Januari-Maret 2008 lalu, the Fed memaksa JP Morgan untuk mengambil-alih Bear Stearns yang terjungkal. Pada tsunami kedua the Fed sudah tidak punya pilihan lagi. Bank IndyMac terjungkal tidak bangun lagi. Fannie Mae dan Freddie Mac terjungkal tapi terselamatkan bell. Lehman Brother terhuyung.

The Fed menyalahkan para naked short-seller dan menyuruh SEC (badan pengawas bursa saham US) untuk melarang short-selling 19 saham-saham finansial. Dan mulai ini berlaku pada hari senin tanggal 21 Juli 2008. Saham-saham yang termasuk dalam kategori ini adalah.

BNP Paribas Securities Corp
Bank of America Corp
Barclays PLC
Citigroup Inc
Credit Suisse Group
Daiwa Securities Group Inc
Deutsche Bank Group AG
Allianz SE
Goldman Sachs Group Inc
Royal Bank ADS
HSBC Holdings Plc ADS
JPMorgan Chase & Co
Lehman Brothers Holdings Inc
Merrill Lynch & Co Inc
Mizuho Financial Group Inc
Morgan Stanley
UBS AG
Freddie Mac
Fannie Mae

Dan Inilah kenyataannya......Tsunami Finansial ketiga....

dari Detik.com Bursa-bursa utama dunia mengalami kemerosotan tajam, setelah Lehman Brothers mengumumkan rencananya untuk mendaftarkan kebangkrutan termasuk kabar Bank of America yang akan membeli Merrill Lynch. Bursa Asia pada perdagangan Senin (15/9/2008) berguguran. Taiwan anjlok 4,09%, Filipina anjlok 4,2%, Australia turun 1,8%, Singapura turun 2,26%. India anjlok 5,19% dan Indonesia turun 2,67%. Bursa-bursa Asia lainnya lebih 'beruntung ' karena sedang libur seperti Tokyo, Hong Kong, Shanghai dan Seoul.

Dan kemerosotan menular ke bursa Eropa. Indeks FTSE 100 pada perdagangan awal pekan ini dibuka langsung turun 2,28% saat dibuka, DAX Franfurt turun 1,55% dan CAC Paris turun 2,48%. Sektor finansial menderita aksi jual besar-besaran, setelah Lehman mengumumkan kebangkrutan untuk melindungi asetnya dan memaksimalkan nilai.

Kebangkrutan itu mengakhiri berbagai spekulasi dan pembahasan berlarut-larut dalam upaya mencari solusi bagi Lehman. Perundingan 3 hari yang digelar para bankir utama AS, pemerintah dan Bank Sentral AS tak menghasilkan solusi nyata. Hanya saja, 10 bank investasi besar sepakat untuk menyediakan US$ 70 miliar bagi Lehman, namun tak ada satupun yang bersedia membeli Lehman yang memiliki kredit macet mortgage segunung.

"Jelas sekali dengan kabar Lehman bangkrut, Bank of America membeli Merrill Lynch dan AIG yang sedang mendapat tekanan untuk menjual aset, maka Anda kemungkinan akan melihat lebih banyak lagi satu hari dalam sejarah sektor finansial ketimbang yang kita lihat semenjak crash terbesar pada tahun 1929," jelas Direkrut Macquaire Private Wealth, Marcus Droga seperti dikutip dari AFP.

"Saya tidak memperkirakan pasar saham AS akan crash malam nanti, namun dalam pengertian peristiwa sekarang, maka ini adalah hari yang bersejarah," imbuh Droga. "Semuanya didorong oleh sektor finansial, terutama kabar dari AS," jelas pialang senior CMC, Dominic Vaughan.

Hari ini memang penuh kejutan. Lehman Brother bangkrut, sementara Bank of America membeli Merrill Lynch untuk menyelamatkan bank investasi tersebut dari kejatuhan. Lehman akhirnya mengumumkan rencananya untuk meminta perlindungan kebangkrutan, setelah berupaya untuk mendanai aset yang terlalu besar risikonya dengan modal yang terlalu minim.

Pendaftaran kebangkrutan 'Chapter 11' tidak termasuk operasional broker-dealer dan unit lain seperti aset manajemen Neuberger Berman. Bisnis tersebut akan terus beroperasi kendati Lehman akan melikuidasinya.

Kebangkrutan Lehman ini sekaligus yang terbesar sejak tahun 1990, ketika Drexel Burnham Lambert mendaftarkan proteksi kebangkrutan akibat kolapsnya pasar obligasi. Rencana kebangkrutan ini sekaligus menambah angka pengangguran di AS. Sebanyak 26.000 karyawan Lehman sendiri sebelumnya harap-harap cemas menunggu kabar tentang rencana ke depan. Para karyawan di kantor pusat Lehman, Manhattan sejak Minggu kemarin terlihat keluar masuk membawa barang-barang yang sudah dikemas.

SEMUA AKAN KENA
Andaikata ini terjadi, krisis mendatang akan lebih besar dari Depresi tahun 1930an. Pada tahun 30an, US adalah negara exportir bahan mentah, warganya punya tabungan, negaranya tidak tercekik hutang. Sekarang sebaliknya. US selama bertahun-tahun mengalami defisit berjalan dan perdagangan. Sumber-sumber alamnya sudah habis untuk dimakan sendiri dan hutang baik warganya ataupun negaranya sudah membengkak. Asset warganya sudah negatif. Negara yang ekonominya digerakan oleh konsumsi, dalam kondisi semacam ini dapat dipastikan konsumsi akan menurun dan ekonomi akan mengalami resesi atau lebih parah lagi menjadi depresi.

Banyak orang mengatakan bahwa Asia (India, Cina, Jepang, dll), Russia dan negara-negara lain tidak akan terkena dampaknya. Saya akan tantang opini ini dengan dua pertanyaan:
"Apakah Cina, India, dan emerging market lainnya tidak mengalami surplus perdagangan dengan US?".
"Kalau US berhenti mengkonsumsi, bagaimana nasib ekonomi (buruh dan perusahaan serta penunjangnya) yang membuat barang/jasa yang dieksport ke US?"

--

Lehman Bangkrut, Wall Street "Jeprut"




Kantor pusat Lehman Brothers di Sixth Avenue, New York City, 14 September 2008.


Selasa, 16 September 2008 | 07:15 WIB

NEW YORK, SENIN - Pasar saham Wall Street kembali terpuruk, pada perdagangan Senin (15/9) waktu setempat, setelah kebangkrutan bank investasi Lehman Brothers memicu kekhawatiran berita lebih buruk untuk sektor keuangan dan ekonomi.

Indeks saham blue-chip Dow Jones Industrial Average jatuh di bawah 11.000 dengan merosot 4,42 persen menjadi 10.917,51, penurunan satu hari terbesar sejak pembukaan kembali setekah serangan teroris September 2001.

Indeks komposit Nasdaq menyusut 3,60 persen menjadi 2.179,91 dan indeks Standard & Poor’s 500 jatuh 4,71 persen menjadi 1.192,70.

Para investor panik karena ketidakpastian dampak jatuhnya Lehman, sebuah perusahaan yang mempunyai kekuatan di Wall Street dan berhubungan dengan seluruh perusahaan-perusahaan keuangan lainnya.

Penjualan darurat rivalnya di Wall Street, Merrill Lynch kepada Bank of America dan kekhawatiran kemungkinan jatuhnya raksasa asuransi American International juga menambah kegelisahan.

"Keputusan Lehman Brothers mengajukan kebangkrutan dan kekhawatiran krisis kredit dapat mengklaim American International Group sebagai korban terakhir memicu kecemasan di Wall Street," kata para analis Charles Schwab & Co. dalam sebuah catatan kepada para nasabahnya.

"Pembelian Merrill menunjukkan masalah-masalah yang tersembunyi dan akan lebih banyak perusahaan yang akan menemui nasib serupa dengan Lehman," tambahnya.

Sementara bank-bank sentral, dipimpin oleh Federal Reserve AS, menyuntikan puluhan miliar dollar AS ke dalam sistem keuangan untuk menghadang setiap "rush" (penarikan dana besar-besaran) likuiditas karena para investor menarik uangnya keluar dari saham dan mencari tempat yang aman.


Sumber :
http://www.kompas.com/read/xml/2008/09/ ... jeprutquot



Lehman Ambruk, Wall Street Pun Terpuruk


Sabtu, 13 September 2008 | 06:07 WIB

NEW YORK, SABTU - Menutup transaksi pekan ini, keguncangan pasar yang diantaranya dipicu oleh ketidakjelasan nasib Lehman Brothers Holding Inc mewarnai nilai transaksi saham yang beragam di Wall Street, New York. Permasalahan di sektor keuangan pekan ini didominasi oleh keinginan investor mendapatkan kejelasan tentang pencarian modal segar bagi bank investasi nomor 4 di AS tersebut.

Saham Lehman yang ditutup menurun 42 persen Kamis (11/9) lalu tercatat telah merosot nilainya lebih dari 94 persen selama tahun ini. Saham Lehman terus merosot 57 sen atau 13,5 persen menutup transaksi pekan ini pada 3,65 dollar AS.

Setelah sempat merosot lebih dari 150 poin, indeks Dow Jones yang ditutup pekan ini naik 1,79 persen dan Nasdaq ditutup dengan kenaikan 0,24 persen. Sementara di bursa komoditas New York Mercantile Exchange, kontrak pengiriman minyak mentah light, sweet naik 31 sen serta ditutup pada kisaran 101,8 dollar AS per barrel setelah sempat untuk pertama kalinya dalam 5 bulan terakhir merosot di bawah 100 dollar AS. Kalangan investor mengantisipasi kedatangan Topan Ike di Teluk Meksiko yang dikhawatirkan dapat mengarah dan menerjang operasi pengeboran serta penyulingan minyak di perairan Texas.

Sumber :
http://www.kompas.com/read/xml/2008/09/ ... n.terpuruk




Bermula dari Perusahaan Trading Kapas


Selasa, 16 September 2008

Sebelum pailit, Lehman Brothers merupakan bank investasi terbesar keempat di AS. Perusahaan yang bermarkas di New York itu didirikan pada 1850 di Montgomery, Alabama. Jadi, usianya lebih dari 150 tahun (tepatnya 158 tahun).

Saat itu, imigran Jerman bernama Henry Lehman, pemilik toko serba ada, bekerja sama dengan dua bersaudara, Emanuel dan Mayer Lehman, memulai bisnis trading kapas. Pada 1858 mereka membuka kantor di New York.

Selanjutnya, Lehman berkembang pesat menjadi salah satu bank terkemuka dalam sistem finansial AS maupun global. Mereka menjadi dealer utama dalam transaksi instrumen surat utang pemerintah (Depkeu) AS. Operasinya termasuk pula dalam bank investasi dan manajemen aset.

Lehman ikut membantu pembiayaan perusahaan ritel, seperti Sears, Roebuck, FW Woolworth, dan RH Macy & Company di awal abad 20. Mereka juga membantu permodalan RCA dan Halliburton.

Sejak 1993, Richard Fuld bertindak sebagai chief executive officer (CEO). Setahun kemudian, Fuld menjabat chairman.

Dalam tragedi 11 September 2001, Lehman ikut menjadi ''korban''. Markasnya di Wall Street rusak parah dan hancur. Lantas, mereka membeli markas baru di Seventh Avenue dekat Times Square, New York. Lehman juga punya kantor regional di London dan Tokyo.

Pada akhir 2007, Lehman mempekerjakan 28.500 karyawan. Tapi, karena krisis finansial dan ekonomi, karyawannya dipangkas 1.500 orang. Sebelum pailit, mereka memiliki sekitar 27.000 karyawan.

Perusahaan itu rugi USD 3,9 miliar (sekitar Rp 36,6 triliun dengan kurs Rp 9.400 per USD) akhir Agustus lalu. Itu menyusul kerugian USD 2,8 miliar (sekitar Rp 26,32 triliun) pada triwulan II. Gara-gara krisis subprime mortgage di AS, mereka terpaksa menghapusbukukan kredit macet USD 13,8 miliar (sekitar Rp 129,7 triliun). Lalu, mereka menghimpun dana USD 10 miliar (sekitar Rp 94 triliun) melalui penerbitan saham tahun ini.

Karena krisis, saham Lehman terpuruk dari level tertinggi sebesar USD 66 per lembar pada Februari lalu menjadi tak sampai USD 10. Penurunan saham 85 persen itu menempatkan kapitalisasi pasarnya jadi USD 5,5 miliar (sekitar Rp 51,7 triliun). Itu berarti mendekati kapitalisasi pasar Bear Stearns saat dijual ke JPMorgan Chase baru-baru ini. (AFP/dwi)



Sumber :
http://www.jawapos.co.id/

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Post subject: Re: Kebngkrutan Global : Lehman BrothersPosted: Tue Sep 16, 2008 7:42 am

Merdeka dlm Kristus



Joined: Fri Jun 09, 2006 5:20 pm
Posts: 7146
Bursa Saham Global Terguncang

Selasa, 16 September 2008 | 02:49 WIB

LONDON, SENIN - Hampir semua pasar saham di seluruh dunia rontok, Senin (15/9) karena kejatuhan dramatis penyedia investasi besar dari AS, Lehman Brothers. Kebangkrutan Lehman memicu penurunan tajam seluruh sektor keuangan di tengah kecemasan akan datangnya pengaruh yang lebih buruk.

Bursa saham Eropa turun antara tiga hingga empat persen. Wall Street juga merosot setelah Lehman Brothers menyatakan kebangkrutannya dan penjualan rivalnya yang tengah krisis di Wall Street, Merrill Lynch kepada Bank of America.

Saham-saham di Wall Street turun hingga 2,72 persen. Di Kanada, saham-saham turun sekitar tiga persen, sementara di pasar Brasil, terbesar di Amerika Selatan, turun lima persen pada pembukaan pasar dan kemudian menujukkan penurunan sekitar empat persen.

Di London, indeks FTSE 100 turun 3,92 persen menjadi 5.204,20 poin. Di Paris, indeks CAC 40 jatuh 3,78 persen menjadi 4.168,97 poin dan di Frankfurt, indeks DAX, menyusut 2,74 persen menjadi 6.064,16 poin. Indeks Euro Stoxx 50 dari saham-saham perusahaan terkemuka zona euro turun 3,67 persen.

Di Asia, pasar saham Jepang, China, Hong Kong dan Korea Selatan tutup untuk libur publik. Sementara Sydney turun 1,8 persen dan Singapura turun 3,27 persent. Tempat lainnya di Eropa,, Brussel turun 3,49 persen, Madrid turun 4,50 persen, Italia turun 3,72 persen, Belanda turun 3,64 persen dan Swiss turun 3,83 persen.

Bank-bank sentral, dipimpin oleh Federal Reserve AS, menyuntikan puluhan miliar dolar AS ke dalam sistem keuangan untuk menghadapi rush (penarikan dana besar-besaran) likuiditas. Akibat krisi tersebut, para investor dikhawatirkan menarik uangnya keluar dari saham dan mencari tempat yang aman.

Korban jatuh pertama setelah Lehman Brothers mengajukan pailit guna melindungi aset dan memaksimalkan nilai perusahaan adalah bursa-busa di Asia termasuk Indonesia. Kemudian diikuti Timur Tengah, Rusia, dan Eropa sebelum mengguncang pasar-pasar Amerika Utara dan Selatan.

"Kebangkrutan Lehman Brothers telah mengirimkan sebuah guncangan besar melalui pasar-pasar keuangan karena ini merupakan korban terbesar krisis kredit yang dimulai pada Agustus 2007 dan telah dipertimbangkan juga menjadi kegagalan terbesar," kata ekonom Global Insight, Howard Archer.

Pada waktu yang sama, dolar turun tajam terhadap euro sebelum pulih kembali dari beberapa penurunannya di tengah perdagangan yang terguncang. Euro berada pada 1,4168 dolar AS.

Sementara itu, harga minyak merosot ke posisi terendah dalam tujuh bulan terakhir hingga di bawah 93 dolar AS karena kekhawatiran krisis akan memperlambat pertumbuhan dan menahan permintaan energi.

"Selain itu, segalanya terdorong ke samping karena pasar saham berupaya memperhitungkan apakah yang akan diperbuat pasar saham dan ekonomi menyusul penjualan Merrill dan kebangkrutan Lehman," kata Al Goldman dari Wachovia Securities.

Beberapa analis lainnya mencemaskan efek gelombang dari masalah keuangan karena perusahaan-perusahaan berhubungan dengan Lehman Brothers, untuk menutupi posisi mereka, mungkin lebih mendorong tekanan jual. Untuk mengantisipasi pengaruhnya, Federal Reserve diperkirakan akan menurunkan suku bunganya dalam pertemuan mereka pada Selasa (16/9).

Sumber :
http://www.kompas.com/read/xml/2008/09/ ... terguncang

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Post subject: Re: Kebngkrutan Global : Lehman BrothersPosted: Tue Sep 16, 2008 7:47 am

Merdeka dlm Kristus



Joined: Fri Jun 09, 2006 5:20 pm
Posts: 7146
Rencana Pailit Lehman Diratapi Saham Asia


Senin, 15 September 2008 | 13:48 WIB

HONG KONG, SENIN - Nilai sejumlah saham di Asia merosot tajam di tengah meningkatnya keprihatinan pasar terhadap sistem keuangan dunia. Keprihatinan itu meningkat di saat investor merespon keguncangan nilai saham Wall Street yang diantaranya diakibatkan oleh rencana pengumuman pailit Lehman Brothers dan pengambialihan saham Merryl Lynch.

Transaksi di bursa terkemuka Asia di Jepang, Hong Kong serta Korea Selatan diliburkan Senin (15/9) ini karena berlangsung hari libur nasional di negara-negara tersebut. Namun, nilai saham di hampir setiap bursa Asia yang beroperasi menunjukkan penurunan.

Indeks Sensex di bursa saham India turun 5,4 persen dan indeks benchmark Taiwan merosot 4,1 persen. Indeks utama saham Australia anjlok 2 persen dan indeks Singapura turun 2,9 persen.

Kemerosotan itu berlangsung saat perwakilan eksekutif Wall Street dan pemerintah AS mengambil sejumlah langkah yang ditujukan untuk mengakhiri krisis kredit yang mengguncang sistem keuangan global selama lebih dari setahun. Bank investasi AS yang dililit kredit macet Lehman Brothers Holdings Inc. mengumumkan akan mengajukan pailit setelah peminat saham potensialnya, termasuk Barclays PLC, mengurungkan niat pembelian saham.

Sementara di bursa komoditas Asia, harga minyak dunia berada di bawah 100 dollar AS per barrel setelah terjangan Topan Ike hanya menimbulkan kerusakan materi yang tidak besar pada beberapa instalasi perminyakan di perairan Texas. Kontrak pengiriman minyak mentah light, sweet untuk bulan Oktober mendatang turun 2,10 dollar AS menjadi 99,8 dollar AS per barrel.


Sumber :
http://www.kompas.com/read/xml/2008/09/ ... saham.asia.


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Post subject: Re: Kebangkrutan Global : Lehman Brothers AmbrukPosted: Tue Sep 16, 2008 7:53 am

Merdeka dlm Kristus



Joined: Fri Jun 09, 2006 5:20 pm
Posts: 7146
Lehman Bangkrut, Pasar Uang Guncang

Selasa, 16 September 2008


NEW YORK - Gonjang-ganjing di pasar uang dunia belum reda. Bank investasi terbesar keempat di AS sekaligus salah satu perusahaan finansial ternama di dunia, Lehman Brothers, menyatakan pailit atau bangkrut kemarin (15/9).

Di saat sama, perusahaan finansial global lainnya, Merrill Lynch, juga berpindah kepemilikan. Kabar itu memicu ''gempa'' baru yang mengguncang pasar uang global.

Bangkrutnya Lehman Brothers itu terjadi setelah negosiasi di akhir pekan gagal menghasilkan langkah penyelamatan. Tak ada investor atau perusahaan lain yang bersedia mengambil-alih.

Dalam pernyataannya, Lehman menyatakan dewan direksi mengajukan pailit ke US Bankruptcy Court for the Southern District of New York. Langkah itu diambil dalam rangka melindungi aset-asetnya dan memaksimalisasikan nilai.

''Para konsumen dan nasabah Lehman Brothers, termasuk juga klien anak perusahaannya, Neuberger Berman Holdings LLC, bisa terus bertransaksi atau mengambil tindakan lain sesuai rekening mereka,'' kata pernyataan tersebut. Bank investasi itu ditaksir rugi USD 3,9 miliar (sekitar Rp 36,66 triliun) pada triwulan III tahun fiskal 2008 akibat krisis subprime mortgage.

Manajemen sebetulnya berupaya mencari pembeli. Salah satu yang dikabarkan berminat masuk adalah bank asal Inggris, Barclays. Tapi, sebuah sumber di London menyebut, Barclays mundur dari negosiasi karena khawatir serta ragu mampu menjamin bank investasi berusia 158 tahun tersebut.

Kasus Lehman langsung memukul pasar finansial global. Bursa dunia langsung terjerembab. Investor merespons negatif pailitnya Lehman. Saham-saham di bursa Eropa dan Asia anjlok 3-5 persen. Kurs dolar AS juga jatuh dalam perdagangan valas.

--

Pelajaran dari Bangkrutnya Lehman Brothers

Iklan Sponsor: PlayStockMarket.net - HostAndBuild.com - UserHosting.com
THURSDAY, 18 SEPTEMBER 2008 09:02 KB FINANCE

Jakarta, Siapa bakal meramal Lehman Brothers akan bangkrut? Dengan aset ratusan triliun dan sejarah yang sedemikian panjang, Lehman toh akhirnya berakhir bangkrut. Pemerintah harus belajar banyak dari kebangkrutan Lehman Brothers.

Pelajaran yang bisa dipetik adalah, pemerintah harus mengurangi agresifitasnya dalam menerbitkan surat utang untuk menambal defisit. Utang yang terlalu agresif itulah yang menjadi sumber kehancuran berbagai lembaga keuangan internasional.

Hal ini dikatakan oleh Anggota Komisi XI Dewan Perwakilan Rakyat (DPR) Dradjad Hari Wibowo di Gedung DPR, Senayan, Jakarta, Rabu (17/9/2008) petang.

"Pemerintah saat ini dinilai sudah terlalu agresif dalam menerbitkan obligasi negara. Dalam kurun waktu empat tahun, diperkirakan penerbitan obligasi negara telah mencapai sekitar 350 triliun rupiah. Dengan kondisi terkini, saya khawatir harga obligasi negara akan ambruk," katanya.

"Lehmann Brothers memiliki aset sekitar Rp 5.500 triliun, berkali-kali lipat dari anggaran negara. Namun ambruk juga akibat strategi pembiayaan dengan utang yang terlalu agresif," imbuhnya.

Berbagai bukti tersebut menunjukkan bahwa strategi pembiayaan dengan berutang secara agresif adalah kebijakan yang sangat berbahaya.

Mengenai bangkrutnya Lehman Brothers, Dradjad khawatir obligasi negara akan ikut terseret dampaknya. Lehman Brothers yang memegang obligasi pemerintah nantinya berpotensi untuk menjual obligasi negara dengan harga murah karena membutuhkan dana segar.

"Apabila obligasi negara djual murah, maka akan menimbulkan tekanan. Penjualan obligasi negara dengan harga murah akan membuat harga obligasi negara menjadi ambruk. Pemerintah akan sulit menerbitkan obligasi negara dan membiayai defisit anggaran. Kemudian akan ada banyak pihak yang berasumsi bahwa pemerintah kesulitan likuiditas. Ini berbahaya," urainya.

Ia menambahkan, pengurangan penerbitan obligasi negara sebesar Rp 15 triliun pada tahun 2008 ini tidak menunjukkan bahwa pemerintah meredam agresivitas. Menurut dia, agar harga obligasi negara menjadi kuat, pemerintah harus mengurangi penerbitan dengan lebih banyak lagi.

"Pengurangan 15 triliun rupiah tidak cukup. Seharusnya, pengurangan mencapai 30 triliun

Pada 2008, dijelaskan Dradjad target penerbitan obligasi negara adalah 158 triliun rupiah. "Besar kemungkinan bahwa pada 2009 jumlah penerbitan obligasi negara tidak jauh dari besaran tersebut," ujarnya.

--

Bank Investasi terbesar AS. Lehman Brothers mengajukan permohonan perlindungan kebangkrutan, sesuai dengan perundang-perundangan hukum AS no. 11. Dengan demikian bank tersebut diizinkan untuk melakukan reorganisasi. Demikian menurut juru bicara perusahaan, Senin (15/9).

Kabar kebangkrutan Lehman Brothers datang, menyusul gagalnya pembicaraan yang melibatkan Departeman Keuangan AS, sehingga sejumlah kalangan membatalkan sejumlah kesapakatan dengan Lehman Brothers.

Lehman menderita kerugian miliaran dollar AS di pasar kredit pemilikan rumah Amerika akibat krisis kredit. Bursa saham di Eropa dan Asia merosot tajam dan kurs dollar merosot tajam terhadap euro dan yen, sementara terpuruknya Lehman memicu kekhawatiran soal kekuatan sistem keuangan dunia.

Wall Street juga diharapkan mengawali perdagangan dengan indeks lebih rendah pada hari yang mungkin menjadi hari perdagangan yang tegang. (AFP/A-43).**

--

Jejak Si Bangkrut Lehman di Indonesia
Irna Gustia - detikFinance



(Foto: Reuters)


Lehman Brothers Bangkrut
Lehman Brothers Bangkrut
Jakarta - Lehman Brothers sudah menyatakan diri bangkrut dengan menanggung utang hingga sekitar US$ 600 miliar. Di Indonesia ternyata Lehman banyak melakukan investasi di perusahaan terbuka.

Hasil riset yang dilansir dari YosefArdi.com, (sebelumnya ditulis riset PT Ciptadana Securities), Kamis (25/9/2008) menyebutkan Lehman telah menjadi kreditor asing untuk PT Bakrie & Brothers (BNBR), Gajah Tunggal Group, Davomas, Jakarta Setiabudi, Intikeramik Group dan Global Mediacom/MNC Group.

Jejak Lehman di Indonesia, pertama kali ketika menjadi kreditor asing PT Bakrie & Brothers Tbk (BNBR). Lehman masuk ke BNBR setelah keluarga Bakrie berhasil kembali menjadi pengendali di perusahaan itu. Lehman pernah memiliki 1,74% saham BNBR di tahun 2003.

Setelah itu aktivitas Lehman di Indonesia berkurang, dan baru beberapa tahun belakangan Lehman kembali aktif menjalani aksinya di beberapa perusahaan besar dan menggandeng Bhakti Group sebagai partnernya.

MNC/Global Mediacom

1. Lehman Brothers Commercial Corp Asia Ltd pada 18 Desember 2007 menyediakan fasilitas pinjaman US$ 75 juta ke PT MNC Sky Vision (MNCSV), perusahaan yang 51% sahamnya dimiliki PT Global Mediacom Tbk (BMTR). Fasilitas pinjaman itu berjangka waktu 44 bulan dengan bunga LIBOR + 2%. Dana itu digunakan MNCSV untuk ekspnasi ke bisnis televisi berbayar Indovision.

Jaminan atas pinjaman tersebut adalah:



Saham sebanyak 2,27 miliar unit saham MNCSV dengan nilai Rp 227 miliar.
Saham di PT Media Citra Indostar yang dimiliki PT Datakom Asia senilai Rp 68 miliar.
Saham sebanyak 893 miliar saham BMTR senilai Rp 89 miliar. Namun nilai saham BMTR itu kini menjadi Rp 406 miliar dengan harga saham sekarang Rp 455 per saham.

Namun Ciptadana mengatakan belum jelas siapa yang aka mengambilalih fasilitas pinjaman tersebut dan bagaimana nasib jaminannya.

2. Sementara Bhakti juga memberikan pinjaman ke PT Mobile-8 Telecom (FREN) senilai US$ 45 juta yang di dalamnya ada likuiditas dari Lehman. Namun dalam laporan keuangan FREN semester I-2008 disebutkan fasilitas tersebut sudah dijaminkan.

3. Lehman juga menyediakan fasilitas pinjaman US$ 70 juta untuk FREN di tahun 2006, namun FREN telah melunasi pinjaman tersebut beserta bunganya yang senilai US$ 1,6 juta di bulan Agustus 2007.

4. Pada 25 Januari 2008, FREN dan Lehman Brothers Opportunity Ltd (LBOL) mengubah perjanjian waran dari semula jatuh tempo 29 November 2006 di perpanjang hingga 29 Juli 2008. Pada saat yang sama FREN menerbitkan waran untuk LBOL berupa sertifikat yang bisa ditukar dengan saham sebanyak 111,368 juta atau sekitar 2,227 miliar saham. Nilai saham itu di pasar saat ini mencapai Rp 177 miliar.

5. Pada 8 Agustus 2007, FREN ikut serta dalam perjanjian swap dengan Lehman Brothers Special Financing dengan jangka waktu sampai 1 Maret 2013 yang jumlahnya sekitar US$ 100 juta, dimana FREN setuju untuk membayar bunga tetap 10,45%. Pada Desember 2007, nilai instrumen derivatif itu mencapai sekitar US$ 299,212 juta atau Rp 2,8 triliun.

Bhakti kemungkinan akan mendapatkan diskon yang signifikan atas fasilitas pinjaman itu ketika jatuh tempo karena Lehman sudah dinyatakan bangkrut.

Davomas

Pada Mei 2006, Davomas ikut serta dalam perjanjian kontrak swap dengan Lehman sekitar US$ 50 juta dan Davomas setuju untuk membayar bunga tetap 9,28% hingga 2011.

Per 31 Agustus 2008, Lehman memiliki saham di PT Davomas Abadi Tbk sebanyak 1,377 miliar atau 11,11%. Kepemilikan Lehman di Davomas naik tajam dari posisi Juni 2007 yang sebesar 6,37% atau 789 juta saham. Nilai investasi saham Lehman di Davomas saat ini sekitar Rp 168 miliar.

Intikeramik Alam Asri Industri (IKAI)

Produsen keramik IKAI semula berencana mengambil fasilitas pinjaman dari Lehman senilai US$ 22 juta. Namun IKAI membatalkan itu karena tidak menyepakati soal perjanjian waran. IKAI akhirnya berpaling ke investor lokal PT Al Ijarah Indonesia Finance (ALIF).

Gajah Tunggal

Lehman terlibat dalam penerbitan obligasi PT Gajah Tunggal Tbk (GJTL) senilai US$ 325 juta. Selain itu Lehman dan Citicorp setuju untuk melakukan restrukturisasi dua surat utang yang dikeluarkan Polychem Indonesia, yang merupakan perusahaan afiliasi dengan Gajah Tunggal Group yang nilainya pada tahun lalu sekitar US$ 102 juta.

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Krisis Finansial AS Ingatkan Memori Buruk 'Great Depression'
Nurul Qomariyah - detikFinance



Foto: Reuters


The Fed Selamatkan AIG
Bursa Wall Street Tumbang
New York - Krisis finansial yang menyapu Wall Street atau bahkan keseluruhan perekonomian AS membangkitkan memori buruk tentang peristiwa Great Depression di tahun 1929. Ketika itu, masyarakat AS hidup dalam kesulitan keuangan bahkan sampai harus kelaparan.

Misalnya Helen Haas, yang harus kehilangan uang yang ditabungnya ketika krisis melanda di tahun 1929. Haas ketika itu bersama dengan ibunya ingin menarik US$ 50 di sebuah bank di Chicago, namun ia hanya berhasil mendapatkan US$ 2.

Sementara Emerson Colaw harus kehilangan ladang pertaniannya ketika bank-bank ditutup. Ayah Colaw akhirnya tak punya uang untuk menanam lagi kebunnya.

Dan seiring meledaknya jumlah PHK, jumlah warga AS yang kelaparan pun semakin banyak. Carl Oles bahkan mengingat dirinya harus antre untuk mendapatkan sebuah roti basi di Baltimore.

"Kami tidak bisa mendapatkan roti yang baru dan tidak ada toko kue di sepanjang jalan. Cara terbaik yang bisa kita lakukan adalah mendapatkan roti yang sudah berumur seminggu, membawanya ke rumah dan menghangatkannya," kenang Oles seperti dikutip dari Reuters, Kamis (25/9/2008).

Great Depression tersebut sekaligus mengubah gaya hidup masyarakat 'generasi tua' di AS. Mereka umumnya lebih berhati-hati dalam menggunakan uangnya.

Haas dan suaminya selalu menabung setiap dolar yang mereka bisa. Mereka juga mengatur uang untuk bisa membayar cicilan rumah dan membeli barang lain, termasuk menabung.

"Tidak pernah ada lagi barang seperti kartu kredit kemudian. Suami saya tidak akan membeli sesuatu kecuali membayarnya dengan tunai," ujarnya.

Colaw, yang kini sudah pensiun menyatakan, ia tidak memiliki kartu kredit hingga tahun 1948. Dan setelah itu, ia selalu mengatur untuk mendapatkan keuangan yang berimbang.

"Karena saya enggan untuk berutang. Saya tidak pernah membawa kartu kredit saya, dan selalu membayarnya dengan penuh," katanya.

Great Depression atau Depresi Besar merupakan sebuah peristiwa kehancuran bursa yang paling besar dalam sejarah AS. Kehancuran bursa itulah yang selanjutnya ikut meruntuhkan perekonomian AS.

Pada saat terjadinya kehancuran tersebut, kota New York sedang bertumbuh menjadi ibukota finansial yang utama dan metropolis. New York Stock Exchange (NYSE) ketika itu merupakan bursa efek yang terbesar di dunia. Dan pasar yang sedang sedemikian bullish runtuh seketika pada 24 Oktober 1929 yang dikenal dengan Black Thursday.

Harga-harga saham di NYSE berjatuhan semuanya pada hari itu dan berlangsung terus selama sebulan mencapai nilai terendah yang tidak pernah terjadi sebelumnya. Terjadi kepanikan dimana semua orang menjual saham yang dimilikinya.

Setelah keruntuhan tersebut, Dow Jones Industrial Average (DJIA) pulih lebih awal pada tahun 1930, lalu jatuh kembali mencapai titik terendah pada tahun 1932. Hingga akhir tahun 1954, pasar bursa tidak pernah kembali seperti pada saat sebelum tahun 1929.

Dan pekan lalu, sebuah kejatuhan bursa saham yang paling buruk kembali menerpa Wall Street pada pekan lalu. Indeks Dow Jones pada 15 September terpuruk 4,42% ke bawah level 11.000, atau merupakan kejatuhan terbesar sejak serangan teroris September 2001.

Kejatuhan saham-saham di Wall Street beriringan dengan ambruknya raksasa-raksasa lembaga investasi yang selama ini menjadi maskot Wall Street. Lehman Brothers bangkrut, diikuti dengan Merrill Lynch yang harus diakuisisi Bank of America, sementara American International Group (AIG) harus dinasionalisasi melalui suntikan dana hingga US$ 85 miliar. Terakhir, sang legenda Warren Buffet akhirnya menyuntikkan US$ 5 miliar ke Goldman Sachs untuk membantu meningkatkan modalnya.

Maury Klein, profesor dari University of Rhode Island dan penulis "Rainbow's End: The Crahs of 1929" mengungkapkan, banyak hal yang terjadi saat ini menyerupai dengan peristiwa yang terjadi 79 tahun silam itu.

"Hal yang sama dalam setiap kasus adalah Anda memiliki situasi dimana Anda mulai bermain-main bahkan dengan bagian yang lebih besar pada masalah yang Anda tidak mengerti," katanya.

Pemerintah AS akhirnya mengajukan rencana penyelamatan dari krisis finansial yang nilainya mencapai US$ 700 miliar atau sekitar Rp 6.500 triliun. Jika rencana ini disetujui oleh kongres, maka total biaya yang harus digelontorkan oleh pemerintah AS untuk penanganan krisis ini mencapai US$ 1,8 triliun.

Presiden George Walker Bush telah mendesak kongres untuk menyetujui rencana penyelamatan krisis tersebut, untuk menghindari kejatuhan ekonomi AS. Namun para anggota kongres masih tarik ulur, dengan tetap menekankan agar rencana tersebut tidak sampai merugikan para pembayar pajak di AS.

Hingga kini, belum jelas kapan masalah krisis finansial yang telah menimbulkan keguncangan di seluruh dunia ini akan berakhir. Namun setidaknya, masyarakat AS seperti Colaw ataupun Haas berharap tak mau peristiwa Great Depression itu terulang lagi sekarang ini.

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Dampak Krisis Finansial AS Bisa Semakin Serius
Nurul Qomariyah - detikFinance



Wen Jiabao (foto: China Herald)


Lehman Brothers Bangkrut
Lehman Brothers Bangkrut
Washington - Dampak krisis finansial yang kini sedang melanda Amerika Serikat (AS) bisa semakin serius. China, yang kini merupakan negara dengan cadangan terbesar di dunia sekaligus pemegang surat utang terbesar kedua AS, menyatakan kesiapannya untuk mengatasi krisis.

Perdana Menteri China Wen Jiabao mengingatkan, krisis di AS bisa memberi dampak yang lebih serius kepada masyarakat internasional. Ia juga mengingatkan perlunya kerjasama untuk mengatasi krisis tersebut.

"Gejolak finansial yang masih berlanjut, sesungguhnya telah memberi dampak pada banyak negara dan dampaknya kemungkinan menjadi lebih serius," kata Wen seperti dikutip dari AFP, Kamis (25/9/2008).

"Untuk mengatasi masalah ini, kita semua harus membuat semua usaha secara bersama," kata Wen dalam pidatonya di depan PBB.

Presiden AS, George Walker Bush yang juga menghadiri telah menelepon Presiden China Hu Jintao untuk menjelaskan tentang masalah krisis finansial termasuk rencana penyelamatan bernilai US$ 700 miliar.

Menurut laporan media China, Presiden Hu mengatakan kepada Bush bahwa China menyambut baik rencana Washington untuk menstabilkan pasar finansial AS dan berharap bisa sukses.

PM Wen menambahkan, China juga siap untuk membantu masyarakat internasional yang kemungkinan terkena dampak dari krisis di AS. Ia menekankan, saat ini bukanlah waktu yang tepat untuk 'permusuhan' dan 'penuh prasangka'.

"China sebagai negara berkembang besar yang bertanggung jawab, siap untuk bekerja dengan komunitas internasional lain untuk memperkuat kerjasama, membagi kesempatan, memenuhi tantangan dan berkontribusi secara harmonis untuk mencapai pertumbuhan dunia yang berkesinambungan," katanya lagi.

China kini tercatat sebagai negara paling besar dan paling cepat pertumbuhan ekonominya. China memiliki cadangan devisa hingga US$ 1,8 triliun dan sebagian besar diinvestasikan dalam surat berharga AS.

Congressional Research Service dalam laporannya di bulan Januari mengungkapkan, China kemungkinan memegang sekitar surat berharga AS senilai US$ 700 miliar per Juni 2006. China menjadi pemegang surat berharga terbesar AS setelah Jepang.

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Warren Buffet Suntik Goldman Sachs US$ 5 Miliar
Nurul Qomariyah - detikFinance



Warren Buffet (foto: Reuters)


Washington - Warren Buffet membuat surprise dengan mengumumkan rencananya membeli saham Goldman Sachs senilai US$ 5 Miliar. Pemilik Berkshire Hathaway itu juga berjanji akan menaikkan kepemilikannya di Goldman dalam 5 tahun ke depan.

Buffet yang pernah bertahta sebagai orang terkaya di dunia ini, akan memiliki opsi untuk membeli saham biasa Goldman senilai US$ 5 miliar pada harga 115 dolar kapanpun, dalam jangka waktu 5 tahun ke depan.

Goldman Sachs juga mengumumkan rencananya untuk meningkatkan paling tidak 2,5 miliar dolar saham biasa melalui public offering. Goldman mengaku mencapai kesepakatan dengan Berkshire Hathaway melalui private offering.

"Kami sangat senang dengan adanya hubungan yang berlangsung lama, Warren Buffet, seorang investor sukses dan sangat diidamkan, telah memutuskan untuk memberikan investasi yang signifikan di Goldman Sachs," ujar Lloyd Blankfein, pimpinan Goldman dalam pernyataannya seperti dikutip dari AFP, Rabu (24/9/2008).

"Investasi ini selanjutnya akan membantu kami untuk memperkuat permodalan dan posisi likuiditas," tambahnya.

Pada perdagangan elektronik setelah pasar tutup, saham Goldman langsung naik 8,12% menjadi 135,20 dolar.

"Goldman adalah institusi yang luar biasa. Goldman memiliki franchise global yang tak tertandingi, tim manajemen yang terbukti dan handal serta modal finansial dan intelektual yang akan meneruskan jejak rekam dari kinerjanya," jelas Buffet.

Goldman, bersama dengan Morgan Stanley merupakan dua bank investasi terakhir yang masih bertahan setelah Lehman Brothers bangkrut dan Merrill Lynch diambil alih Bank of America.

Namun kemarin Federal Reserve menyetujui Goldman Sachs dan Morgan Stanley untuk tak lagi menjadi bank investasi.

Pengumuman dari Buffet ini diharapkan bisa memulihkan kondisi pasar, setelah rencana penyelamatan krisis finansial belum mendapatkan persetujuan dari anggota kongres.

Menteri Keuangan AS Henry Paulson dan Gubernur Federal Reserve Ben Bernanke sebelumnya sudah mendesak agar kongres segera memberikan persetujuan atas rencana penyelamatan tersebut, demi memberikan ketenangan di pasar.

Paulson dalam laporannya di depan kongres mengakui bahwa rencana bailout senilai US$ 700 miliar sangat 'menyedihkan' dan 'memalukan', namun diperlukan untuk menghindari terjadinya resesi sekaligus memulihkan kepercayaan pasar. (qom/ir)

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FBI Investigasi Dugaan Kecurangan Lembaga Keuangan AS
Nurul Qomariyah - detikFinance



Foto: Reuters


Lehman Brothers Bangkrut
Lehman Brothers Bangkrut
Washington - Lembaga-lembaga keuangan AS sudah berjatuhan dan harus mendapatkan suntikan dana hingga puluhan miliaran dolar. Federal Beureau of Investigation (FBI) kini tengah menyelidiki dugaan kecurangan.

Penyelidikan atas dugaan kecurangan itu akan dilakukan terhadap Lehman Brothers, Fannie Mae dan Freddie Mac serta raksasa asuransi AIG.

Menurut laporan dari CNN yang dikutip dari AFP, Rabu (24/9/2008) perusahaan pembiayaan besar, bank investasi dan raksasa asuransi itu diduga menjadi bagian dari dugaan kecurangan yang tengah diselidiki FBI.

FBI juga memperluas penyelidikan atas 26 perusahaan di Wall Street, setelah anggota kongres mendapat desakan untuk segera menyetujui rencana penyelamatan massal bernilai US$ 700 miliar untuk manalangi perusahaan-perusahaan finansial AS yang sedang bermasalah.

"Penyelidikan FBI bertujuan untuk mengetahui apakah para eksekutif di perusahaan-perusahaan tersebut bertanggung jawab atas kondisi keuangan perusahaannya melalui 'misinformasi atau misinformasi materi," jelas CNN.

Anggota kongres belum memberikan persetujuan atas rencana massal penyelamatan dari krisis finansial AS itu. Menteri Keuangan AS Henry Paulson dan Gubernur Federal Reserve Ben Bernanke sebelumnya sudah mendesak agar kongres segera memberikan persetujuan atas rencana penyelamatan tersebut, demi memberikan ketenangan di pasar.

Bernanke sebelumnya mengingatkan bahwa meski langkah penyelamatan krisis finansial sudah diumumkan, namun pasar masih mendapat tekanan yang besar.

Sementara Paulson mengingatkan bahwa jika kongres tidak mengambil keputusan dengan cepat, maka krisis kredit dapat mengancam sebagian dari perekonomian AS. (qom/ir)

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Langkah AS Bisa Tenangkan Pasar
Wahyu Daniel - detikFinance



Foto: Depkeu


Ekonomi AS Butuh Dana Rp 6.510 Triliun
Ekonomi AS Butuh Rp 6.510 triliun
Jakarta - Pemerintah Indonesia menyambut baik upaya penyelamatan krisis finansial senilai US$ 700 miliar. Penyelamatan itu akan memberikan ketenangan di pasar.

Hal tersebut disampaikan Menkeu Sri Mulyani usai rapat dengan Komisi II DPR, di Gedung DPR, Senayan, Jakarta, Senin (22/9/2008).

"Pertama mereka masih melihat sama seperti BPPN dulu, mereka melihat coverage-nya seperti apa, mandatnya seperti apa, kemudian seberapa besar diberikan, baik dari sisi kekuasaanya maupun dari segi pendanaannya, jadi paling tidak itu menenangkan. Asal ada mekanisme dalam penanganan krisis di AS sehingga kita berharap suasana was-was yang terjadi di sana akan menjadi berkurang," ujarnya.

Sementara itu mengenai mekanisme penanganan krisis keuangan di dalam negeri, Menkeu mengatakan pemerintah sudah mengajukan UU ke DPR mengenai hal itu.

"Kita tidak akan berharap bahwa situasi akan memaksa untuk melakukan penanganan darurat namun kami dengan Bank Indonesia dalam FSSK (Forum Stabilitas Sektor Keuangan) terus melakukan assessment terhadap potensi dan risiko dan bagaimana mekanisme pengambilan keputusan dan komunikasi antara kita dan BI, jadi bagaimana nanti kalau harus menghadapi situasi yang tidak diinginkan itu yang sedang dimatangkan posisi hukumnya," ujarnya.

Menkeu mengatakan pihaknya tidak ingin landasan hukum penanganan krisis dalam bentuk peraturan pemerintah. Pemerintah tetap berkeinginan landasan hukumnya berupa Undang-undang biasa.

"UU nya sendiri sudah disusun, dan ada beberapa pasal yang terus dimatangkan. Semoga masih tetap memakai undang-undang yang normal sebab kalau Perpu kan berarti dipaksa oleh sesuai yang darurat," ujarnya. (ddn/ir)

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Three Lessons of the Lehman Brothers Collapse
A year ago today, the venerable investment-banking firm Lehman Brothers filed for bankruptcy protection after the Federal Reserve and the Treasury Department pointedly refused to bail the company out, and no other Wall Street outfit was willing to step into the breach. It was the largest bankruptcy ever in the U.S., but the really big news was what happened afterward. First came a financial panic that threatened to shatter the global capitalist order, then came an unprecedented, and unprecedentedly expensive, effort by governments on both sides of the Atlantic to patch things up.
You already knew all this, of course. It happened just last year, and in recent days the news media have engaged in an orgy of commemoration and explanation of the Lehman collapse and its aftermath. So here's the $64 trillion question: What, if anything, have we learned from the experience?
(See the top 10 financial collapses of 2008.)
Three main lessons present themselves. First, our complex financial system is awfully fragile. Second, government action is capable of keeping a financial panic from snowballing into a complete economic disaster along the lines of the Great Depression. Third, the government has — in large part because of its success in averting disaster — found it difficult to take any actions that would make the financial system less fragile in the future. That would, apparently, be too much government intervention.
First, the fragility. Allowing Lehman to fail — cited often as the government's biggest boo-boo — started a chain reaction. There was a run on money-market funds after one big money-market fund revealed that it owned a lot of suddenly worthless Lehman debt. London-based hedge funds that relied on Lehman for day-to-day financing found themselves unable to do business because their accounts with Lehman's U.K. subsidiary were frozen. Similar dislocations played out around the world. Before long, financial institutions were paralyzed by fear. They simply didn't trust each other anymore, and didn't want to lend to each other. The financial system proved too fragile to handle the stress.
(See 25 people to blame for the financial crisis.)
That brings us to lesson No. 2. In the early 1930s, powerful voices at the Treasury and Federal Reserve argued that the deep pain of financial crisis was a necessary economic corrective. "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate," Treasury Secretary Andrew Mellon advised President Herbert Hoover. "It will purge the rottenness out of the system." Late last year, you could hear a few people arguing this case on CNBC and even on the floor of the House of Representatives. But after Lehman's failure, no one at Treasury or the Fed talked that way. Instead, the consensus among the policymakers who mattered, in the U.S. and overseas, was that the panic had to be stopped at any cost.
The cost was a bailout that placed trillions of taxpayer dollars at risk. It was expensive, it was messy, it was unfair. It struck many people as downright un-American. But it worked. "I've abandoned free-market principles to save the free-market system," is how President George W. Bush described it last December.
Mission accomplished — so far, at least. In the face of a financial shock worse than the Crash of 1929, massive government intervention averted a second Great Depression. Yes, we've still ended up in the worst economic downturn the U.S. has seen since. But while there are surely lots of potholes and wrong turns ahead, there's ample evidence that the economy — both in the U.S. and worldwide — is in the early stages of a rebound. And we have decisions made by government officials to thank for that.
Then again, decisions made by Congress, the Bush and Clinton administrations and federal regulators in the years before the crisis also played a key role in allowing things to get so bad. From ill-considered deregulation of banking and derivatives to over-the-top encouragement of home ownership, Washington's fingerprints were all over the crisis. Almost nothing has been done so far to right these wrongs, or otherwise rein in the excesses of the financial system. Which brings us to lesson No. 3: It's really hard for a democracy to make big changes in the absence of crisis.
President Barack Obama did warn in his speech to Wall Street on Monday that "normalcy cannot breed complacency." But normalcy is breeding complacency — perhaps because complacency is normal. Consider the financial reforms that the Obama Administration wants to push through Congress before year-end — creating a Consumer Financial Protection Agency, giving the Federal Reserve the job of systemic risk regulator, and establishing a "resolution regime" to wind down troubled nonbank financial institutions (like Lehman) and complex bank holding companies in an orderly fashion. Steps in the right direction? Probably. Truly major reforms? Not so much.
In the months after Franklin D. Roosevelt took office in 1933, Congress legislated a complete transformation of Wall Street and the banking sector with the creation of the Securities and Exchange Commission and the Federal Deposit Insurance Corp., and the segregation of commercial banks from Wall Street. It's not obvious that we need such a drastic overhaul now, but still, the contrasts with 1930s are stark. Ironic, too. By following their belief that financial markets should work out their own problems, Andrew Mellon and his kindred spirits at the Fed triggered a financial collapse that more or less ensured major, permanent government participation in the financial sector. By intervening aggressively, Hank Paulson and his kindred spirits at the Fed haven't quite ensured a continuation of the status quo — some reforms will come, and banks and their regulators will tread more gingerly for at least a few years — but they do seem to have headed off a re-enactment of the New Deal.


Read more: http://www.time.com/time/business/article/0,8599,1923197,00.html#ixzz1OpkMx900

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Meraup Berkah Bisnis Tanaman Hias Pasca Bencana
Yonda Sisko - detikFinance






Padang - Peristiwa bencana alam selain menyisakan kesedihan dan kerugian materi bagi yang mengalaminya, juga bisa memberikan berkah tersendiri terhadap masyarakat.

Misalnya saja banyaknya proyek renovasi rumah dan perkantoran pasca gempa 7,9 SR yang melanda Sumatera Barat (Sumbar) 29 September 2010 lalu menjadi berkah bagi pelaku bisnis taman dan tanaman hias di kota Padang, Sumatera Barat. Peningkatan omset penggiat bisnis flora itu hingga pertengahan 2011 ini mencapai tiga kali lipat.

"Rasanya, inilah saat paling menguntungkan bagi bisnis taman dan tanaman hias setelah booming tanaman hias aglaonema dan anthurium beberapa tahun lalu," ujar Firman (28) pedagang tanaman hias di kawasan Lubuk Minturun, Padang, kepada detikFinance, Selasa (7/6/2011).

Dikatakan Firman, selain renovasi taman lama, permintaan pembuatan taman di rumah tinggal baru dan perkantoran juga meningkat signifikan. Hal itu didukung semakin banyaknya pengembang di kota Padang yang membangun komplek perumahan baru, terutama di daerah ketinggian kota Padang seperti kawasan Lubuk Minturun, Sei. Lareh, Balai Baru, dan sejumlah kawasan di sepanjang jalan By Pass Padang.

"Rata-rata peningkatan permintaan tanaman hias dan pembuatan taman mencapai tiga kali lipat dibandingkan tahun-tahun sebelumnya. Berbeda dengan 2-3 tahun belakangan yang menempatkan tanaman indoor seperti Aglaonema dan anthurium sebagai tanaman pavorit, permintaan terbesar saat ini justru pada tanaman ruang terbuka seperti bonsai serut, beringin, putri salju, melati mini, pucuk merah, cemara, dan tanaman buah dalam pot," kata Firman.

Hal senada juga diungkapkan oleh pedagang tanaman hias lainnya, Zaitul Ikhlas (35). Menurutnya, tingginya permintaan pembuatan taman akhir-akhir ini membuat sejumlah tanaman pendukung, seperti rumput hias juga ikut laku keras.

"Misalnya, permintaan terhadap rumput gajah mini yang sangat tinggi sehingga sering kehabisan stok sampai di tingkat petani pembudidaya. Boleh dikatakan, untuk saat ini berapa pun petani mampu memproduksi rumput itu akan habis diserap pasar," tukasnya.

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Rabu, 23/03/2011 08:52 WIB
Sukses Mewarisi Bisnis Coklat Keluarga Beromset Miliaran
Suhendra - detikFinance



Farida Ariyani (Foto: Suhendra)


Jakarta - Banyak orang harus bingung memulai usaha apa yang cocok buat dirinya. Padahal seringkali orang tak sadar, justru usaha orang tua semasa kecil bisa menjadi inspirasi bisnis saat ini dan layak diteruskan.

Hal ini lah yang dialami oleh Farida Ariyani. Sang pemilik Vanssa Chocolate (Vanssa) ini memulai bisnis produk olahan coklat karena sudah kenyang menimba pengalaman dari nenek dan ibunya dalam hal membuat produk olahan coklat.

Nama Vanssa kini kian mantap menjadi salah satu produk kemasan coklat lokal yang diperhitungkan di pasar dalam negeri. Padahal awalnya Vanssa harus bersusah payah menembus pasar karena bersaing ketat dengan produk-produk coklat impor.

"Faktor lingkungan dari orang tua, sejak kecil saya sudah tahu soal coklat dan permen. Saya menguasai betul, dari nenek, saya belajar coklat," kata Farida kepada detikFinance, Selasa (22/3/2011).

Farida mengaku meski mendapat warisan pengetahuan membuat coklat dari orang tuanya, ia tak puas begitu saja. Ia memutuskan menggali ilmu cara membuat coklat secara moderen di pusat penelitian kakao dan coklat di Jember, Jawa Timur.

"Saya terus melakukan inovasi produk, sampai tahun 2001 lalu saya perkenalkan merek Vanssa," katanya.

Produk Vanssa yang ia produksi awalnya tak mudah menembus pasar ritel moderen. Ia coba perkenalkan produknya mulai dari teman-temannya hingga ke toko-toko kecil di sekitar rumahnya.

Sebagai generasi terdidik, Farida juga sadar bahwa produk coklatnya memiliki karakter khas, sehingga ia harus bersusah-susah mengurus hak paten, sertfikasi halal dan lain-lain demi kelangsungan bisnis coklatnya.

"Saya punya prinsip terus berjuang mencari dan mencari , tak lelah-lelahnya belajar, bagaimana produk kita percaya diri, bukan saya tapi produknya yang percaya diri," katanya.

Kini Vanssa sudah tersebar ke beberapa pasar lokal seperti Surabaya, Sidoardjo, Gresik, Jakarta, Jogjakarta, Kendari, Batam, Bali, Balikpapan. Bahkan produk Vanssa sudah menembus pasar ekspor di Jeddah sebagai oleh-oleh biro perjalanan haji.

Farida menambahkan membuat produk coklat memerlukan edukasi ke pasar. Selama ini coklat dituding sebagai biangkeladi untuk urusan menambah berat badan dan pembuat lubang di gigi.

"Kalau orang habis makan coklat, tak gosok gigi, yah bisa bikin lubang gigi," katanya.

Untuk urusan ini, Farida sangat konsen dalam menentukan komposisi bahan baku seperti penggunaan lemak sehat yang tidak menimbulkan kolesterol. Selain itu, ia menggunakan gula khusus sehingga aman bagi penderita diabetes dan siapa saja.

Vanssa sendiri, lanjut Farida dikemas dengan satuan kemasan kecil-kecil sehingga produk coklat aman dari kontaminasi udara atau unsur lainnya yang bisa membuat coklat rusak. Ia optimis, mengembangkan bisnis coklat sangat lah menjanjikan, apalagi dengan pendekatan inovasi.

"Coklat itu kompetitornya nggak banyak, saya sudah bergelut coklat sejak dari kebon hingga proses produksi," katanya.

Sebagai produk coklat asli lokal, Farida mengatakan Vanssa sempat dipandang sebelah mata. Banyak masyarakat memandang produk coklat impor lebih bagus dari produk coklat lokal, padahal yang terpenting adalah kualitas dan rasa.

"Orang Indonesia melihat sebelah mata coklat lokal, mereka lebih bangga dengan coklat impor," katanya.

Menurutnya, coklat buatannya mampu bersaing dengan coklat impor yang sudah banyak beredar di pasar. Dalam urusan harga, ia berani jamin produk coklat olahan lokal bisa bersaing, misalnya Vanssa dijual mulai dari Rp 6.500 sampai Rp 40.000.

"Saya patut akui segmen produk coklat memang segmen market moderen, menengah keatas, kalau pasar tradisional nggak laku, dari sisi harga," katanya.

Farida mengatakan, ia membuka kesempatan bermitra dengan siapapun yang ingin sukses menggeluti bisnis coklat, termasuk dalam hal pemasaran dan suplai bahan baku. Kini bisnis coklatnya terus tumbuh hingga 10-20% setiap bulannya.

Produk coklat Vanssa rata-rata terjual 100 kg per hari, atau 2-3 ton per bulan. Bahan baku yang ia pakai semuanya dari lokal, yaitu 40% dari Jawa dan 60% luar Jawa.

"Omset rata-rata Rp 100-150 juta per bulan," katanya.

Vanssa Chocolate
Farida Ariyani
Delta Sari Indah AX 17 Waru, Sidoarjo, Jawa Timur
Email: farida_ariyani12@yahoo.co.id.

--

Lehman Brothers Bangkrut, Investasi Nggak Ikut
Josephus Primus | Rabu, 17 September 2008 | 18:48 WIB
Dibaca: 300Komentar: 3
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Getty Images/MICHAEL NAGLE
Kantor pusat Lehman Brothers di Sixth Avenue, New York City, 14 September 2008.
TERKAIT:
Barclays Beli Divisi Perbankan Lehman
Lehman Menggoyang Dunia
Lagi, Bank Sentral Eropa Gelontorkan Euro
Bursa Regional Kembali Rontok
JAKARTA, RABU - Kebangkrutan bank investasi AS Lehman Brothers diperkirakan tidak akan mempengaruhi investasi asing di Indonesia. "Secara internasional akan mempengaruhi tapi untuk investasi langsung ke Indonesia tidak begitu terpengaruh, karena target kita adalah investasi langsung oleh perusahaan," kata Wakil Kepala Badan Koordinasi Penanaman Modal (BKPM) Yus’an, di Jakarta, Rabu (17/9).

BKPM mengaku, optimistis target pertumbuhan investasi yang dipatok 15 persen tahun ini bisa tercapai dengan strategi promosi baru yang diterapkan. "BKPM sudah ada target investasi dan fokus negara mana saja serta bidang yang dipromosikan. Kita fokus berpromosi ke Jepang, Korea, AS juga terus kita promosikan," ujarnya.

Untuk negara tertentu, lanjut Yus’an, BKPM memfokuskan promosi sektor khusus seperti Australia untuk investasi di sektor pertambangan, negara-negara Timur Tengah untuk bidang pariwisata dan pertanian.

Yus’an menambahkan realisasi investasi masih terus tumbuh positif. Ia menyebutkan realisasi investasi Januari-Juni yang tumbuh sebesar 160 persen dibanding pencapaian periode sama 2007 atau mencapai 6,56 miliar dollar AS.

--

Merrill Lynch[1] is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage.[2] Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York Stock Exchange under the ticker symbol MER. Merrill agreed to a purchase by Bank of America on September 14, 2008, at the height of the 2008 Financial Crisis.[3] It ceased to exist as a separate entity in January 2009.[4]
This article describes both the historical Merrill Lynch and its ongoing operations as a subsidiary of the Bank of America. Merrill Lynch is headquartered in New York City, and occupies the entire 34 stories of the Four World Financial Center building in Manhattan.

Founding and early history
The company was founded on January 6, 1914, when Charles E. Merrill opened his Charles E. Merrill & Co. for business at 7 Wall Street in New York City. A few months later, Merrill's friend, Edmund C. Lynch, joined him, and in 1915 the name was officially changed to Merrill, Lynch & Co. At that time, the firm's name included a comma between Merrill and Lynch.[5] In 1916, Winthrop H. Smith joined the firm.


Merrill Lynch logo c. 1917
In its early history, Merrill, Lynch & Co. made several successful investments. In 1921, the company purchased Pathé Exchange, which later became RKO Pictures. In 1926, the firm made its most significant financial investment at the time, purchasing a controlling interest in Safeway, transforming the small grocery store into the country's third largest grocery store chain by the early 1930s.
In 1930, Charles Merrill led the firm through a major restructuring, spinning-off the company's retail brokerage business to E.A. Pierce & Co. to focus on investment banking.[6][7] Along with the business, Merrill also transferred the bulk of its employees, including Edmund C. Lynch and Winthrop H. Smith. Charles Merrill received a minority interest in E.A. Pierce in the transaction. Throughout the 1930s, E.A. Pierce remained the largest brokerage in the U.S. The firm, led by Edward A. Pierce, Edmund Lynch and Winthrop Smith would also prove one of the most innovative in the industry, introducing IBM machines into the business' record keeping. Additionally, by 1938, E.A. Pierce would control the largest wire network with a private network of over 23,000 miles of telegraph wires. These wires were typically used for trade execution.[8]

E.A. Pierce & Co. (above) merged with Merrill Lynch in 1940. The following year Fenner & Beane (below) was acquired by the firm

Despite its strong position in the market, E.A. Pierce was struggling financially in the 1930s and was thinly capitalized.[9] Following the death of Edmund C. Lynch in 1938, Winthrop Smith began discussions with Charles E. Merrill, who owned a minority interest in E.A. Pierce about a possible merger of the two firms. On April 1, 1940, Merrill Lynch, E.A. Pierce & Cassatt was formed when the two firms merged and also acquired Cassatt & Co., a Philadelphia-based brokerage firm in which both Merrill Lynch and E.A. Pierce held an interest.[9]
In 1940, the firm merged with Edward A. Pierce's E. A. Pierce & Co. and Cassatt & Co. and was briefly known as Merrill Lynch, E. A. Pierce, and Cassatt.[10] The company became the first on Wall Street to publish an annual fiscal report in 1941.


Merrill Lynch, Pierce, Fenner & Smith logo in use prior to the firm's 1974 rebranding that introduced the "bull" logo
The following year, in 1941, Merrill Lynch, E. A. Pierce and Cassatt merged with Fenner & Beane, a New Orleans-based investment bank and commodities company. Throughout the 1930s, Fenner & Beane was consistently the second largest securities firm in the U.S. The combined firm, which became the clear leader in securities brokerage in the U.S., was renamed Merrill Lynch, Pierce, Fenner & Beane.[11]
In 1952, the company changed its name to Merrill Lynch & Co. and was officially incorporated. On December 31, 1957, The New York Times referred to that name as "a sonorous bit of Americana" and said "After sixteen years of popularizing [it], Merrill Lynch, Pierce, Fenner, and Beane is going to change it—and thereby honor the man who has been largely responsible for making the name of a brokerage house part of an American saga," Winthrop H. Smith, who had been running the company since 1940. The merger made the company the largest securities firm in the world, with offices in over 98 cities and membership on 28 exchanges. At the start of the firm's fiscal year on March 1, 1958, the firm's name became 'Merrill Lynch, Pierce, Fenner & Smith' and the company became a Big Board member of the New York Stock Exchange.[12]
In 1964, Merrill Lynch acquired C. J. Devine & Co the leading dealer in U.S. Government Securities. The merger came together due to the death of Christopher J. Devine in May 1963.[13] The C. J. Devine & Co. partners, referred to as "The Devine Boys", formed Merrill Lynch Government Securities Inc., giving the firm a strong presence in the government securities market. The Government Securities business brought Merrill Lynch the needed leverage to establish many of the unique money market products and government bond mutual fund products, responsible for much of the firm's growth in the 1970s and 1980s.[14]
[edit]Rise to prominence
Merrill Lynch rose to prominence on the strength of its brokerage network (15,000+ as of 2006),[15] sometimes referred to as the "thundering herd", that allowed it to place securities it underwrote directly.[16] In contrast, many established Wall Street firms, such as Morgan Stanley, relied on groups of independent brokers for placement of the securities they underwrote.[17] Until as late as 1970, it was known as the "Catholic" firm of Wall Street.[18] The firm went public in 1971 and became a multinational corporation with over US $1.8 trillion in client assets, operating in more than 40 countries around the world. In 1977, the company introduced its Cash Management Account (CMA), which enabled customers to sweep all their cash into a money market mutual fund, and included check-writing capabilities and a credit card. Fortune magazine called it "the most important financial innovation in years."[19] In 1978, it significantly buttressed its securities underwriting business by acquiring White Weld & Co., a small but prestigious old-line investment bank. Merrill Lynch was well known for its Global Private Client services and its strong sales force.
[edit]Orange County settlement
Merrill Lynch settled with Orange County, California, for a massive $400 million to settle accusations that it sold inappropriate and risky investments to former county treasurer Robert Citron. Citron lost $1.69 billion, which forced the county to file for bankruptcy in December 1994. The county sued a dozen or more securities companies, advisors and accountants, but Merrill settled without admitting liability in June 1998. The county was able to recover about $600 million in total, including the $400 million from Merrill.
[edit]Subprime mortgage crisis
Main article: 2007 subprime mortgage financial crisis
In November 2007, Merrill Lynch announced it would write-down $8.4 billion in losses associated with the national housing crisis and remove E. Stanley O'Neal as its chief executive.[20] O'Neal had earlier approached Wachovia bank for a merger, without prior Board approval, but the talks ended after O'Neal's dismissal.[20] In December 2007, the firm announced it would sell its commercial finance business to General Electric and sell off major shares of its stock to Temasek Holdings, a Singapore government investment group, in an effort to raise capital.[21] The deal raised over $6 billion.[21] In July 2008, the new CEO of Merrill Lynch, John Thain, announced $4.9 billion fourth quarter losses for the company from defaults and bad investments in the ongoing mortgage crisis.[22] In one year between July 2007 and July 2008, Merrill Lynch lost $19.2 billion, or $52 million daily.[22] The company's stock price had also declined significantly during that time.[22] Two weeks later, the company announced the sale of select hedge funds and securities in an effort to reduce their exposure to mortgage related investments.[23] Temasek Holdings agreed to purchase the funds and increase its investment in the company by $3.4 billion.[24]
Andrew Cuomo, New York Attorney General, threatened to sue Merrill Lynch in August 2008, over their misrepresentation of the risk on mortgage-backed securities.[25] A week earlier, Merrill Lynch had offered to buy back $12 billion in auction-rate debt and said they were surprised by the lawsuit.[25] Three days later, the company froze hiring and revealed that they had charged almost $30 billion in losses to their subsidiary in the United Kingdom, exempting them from taxes in that country.[26] On August 22, 2008, CEO John Thain announced an agreement with the Massachusetts Secretary of State to buy back all auction-rate securities from customers with less than $100 million in deposit with the firm, beginning in October 2008 and expanding in January 2009.[27] On September 5, 2008 Goldman Sachs downgraded Merrill Lynch's stock to "conviction sell" and warned of further losses from the company.[28] Bloomberg reported in September 2008 that Merrill Lynch had lost $51.8 billion in mortgage-backed securities as part of the subprime mortgage crisis.[28]
[edit]CDO controversies
Merrill Lynch, like many other banks, became heavily involved in the mortgage-based collateralized debt obligation (CDO) market in the early 2000s. According to an article in Credit magazine, Merrill's rise to be the leader of the CDO market began in 2003 when Christopher Ricciardi brought his CDO team from Credit Suisse First Boston to Merill.[29] In 2005 Merrill took out advertisements in the back of Derviatives Week magazine, touting the fact that its Global Markets and Investing Group was the "#1 global underwriter of CDOs in 2004".[30] To provide a ready supply of mortgages for the CDOs, Merrill purchased First Franklin Financial Corp., one of the largest subprime lenders in the country, in December 2006.[31] BusinessWeek would later describe how between 2006 and 2007, Merrill was "lead underwriter" on 136 CDOs worth $93 billion. By the end of 2007, the value of these CDOs was collapsing, but Merill had held onto portions of them, creating billions of dollars in losses for the company.[32] In mid 2008, Merill sold a group of CDOs that had once been valued at $30.6 billion to Lone Star Funds for $1.7 billion in cash and a $5.1 billion loan.[33][34]
In April 2009, bond insurance company MBIA sued Merril Lynch for fraud and five other violations. These were related to the credit default swap "insurance" contracts Merill had bought from MBIA on four of Merrill's mortgage-based collateralized debt obligations. These were the "ML-Series" CDOs, Broderick CDO 2, Highridge ABS CDO I, Broderick CDO 3, and Newbury Street CDO. MBIA claimed, among other things, that Merrill defrauded MBIA about the quality of these CDOs, and that it was using the complicated nature of these particular CDOs (CDOs squared and cubed) to hide the problems it knew about in the securities that the CDOs were based on. However, in 2010 Justice Bernard Fried disallowed all but one of the charges: the claim by MBIA that Merril had committed breach of contract by promising the CDOs were worthy of an AAA rating when, it alleges, in reality they weren't. When the CDOs lost value, MBIA wound up owing Merill a large amount of money. Merrill disputed MBIA's claims.[35][36][37]
In 2009 Rabobank sued Merrill over a CDO named Norma. Rabobank later claimed that its case against Merrill was very similar to the SEC's fraud charges against Goldman Sachs and its Abacaus CDOs. Rabobank alleged that a hedge fund named Magnetar Capital had chosen assets to go into Norma, and allegedly bet against them, but that Merrill had not informed Rabobank of this fact. Instead, Rabobank alleges that Merrill told it that NIR Group was selecting the assets. When the CDO value tanked, Rabobank was left owing Merrill a large amount of money. Merrill disputed the arguments of Rabobank, with a spokesman claiming "The two matters are unrelated and the claims today are not only unfounded but weren’t included in the Rabobank lawsuit filed nearly a year ago".[38][39][40][41]
[edit]Sale to Bank of America
Main article: Bank of America
Significant losses were attributed to the drop in value of its large and unhedged mortgage portfolio in the form of Collateralized Debt Obligations. Trading partners' loss of confidence in Merrill Lynch's solvency and ability to refinance short-term debt ultimately led to its sale.[42][43] During the week of September 8, 2008, Lehman Brothers came under severe liquidity pressures, with its survival in question. If Lehman Brothers failed, investors were afraid that the contagion could spread to the other surviving investment banks. [Lehman Brothers filed bankruptcy on September 15, 2008, after government officials could not find a merger partner for it.] On Sunday, September 14, 2008, Bank of America announced it was in talks to purchase Merrill Lynch for $38.25 billion in stock.[44] The Wall Street Journal reported later that day that Merrill Lynch was sold to Bank of America for 0.8595 shares of Bank of America common stock for each Merrill Lynch common share, or about US$50 billion or $29 per share.[45] This price represented a 70.1% premium over the September 12 closing price or a 38% premium over Merrill's book value of $21 a share,[46] but that also meant a discount of 61% from its September 2007 price.[47] Congressional testimony by Bank of America CEO Kenneth Lewis, as well as internal emails released by the House Oversight Committee, indicate that Bank of America was threatened with the firings of the management and board of Bank of America as well as damaging the relationship between the bank and federal regulators, if Bank of America did not go through with the acquisition of Merrill Lynch.[48][49][50]
In March 2009 it was reported that in 2008, Merrill Lynch received billions of dollars from its insurance arrangements with AIG, including $6.8bn from funds provided by the United States taxpayers to bail out AIG.[51][52]
[edit]Global Reach
Bank of America Merrill Lynch spans the Globe with divisions in United States, South America, Europe, and Asia. The U.S. headquarters are located in New York, South American Headquarters are at Brazil and Uruguay, European headquarters are based in London, and Asia headquarters are based in Hong Kong.[53][54]
[edit]Regulatory actions

[edit]Analyst Research settlement
In 2002, Merrill Lynch settled for a fine of $100 million for publishing misleading research. As part of the agreement with the New York attorney general and other state securities regulators, Merrill Lynch agreed to increase research disclosure and work to decouple research from investment banking.[55]
A well known analyst at Merrill Lynch named Henry Blodget wrote in company e-mails in which Blodget gave assessments about stocks which conflicted with what was publicly published by Merrill. In 2003, he was charged with civil securities fraud by the U.S. Securities and Exchange Commission. He settled without admitting or denying the allegations and was subsequently barred from the securities industry for life. He paid a $2 million fine and $2 million disgorgement.
The CEO at that time, David Komansky, said, "I want...to publicly apologize to our clients, our shareholders, and our employees," for the company falling short of its professional standards in research.
[edit]Enron/Merrill Lynch Nigerian barge
In 2004 convictions of Merrill executives marked the only instance in the Enron investigation where the government criminally charged any officials from the banks and securities firms that allegedly helped the energy giant execute its accounting fraud. The case revolved around a 1999 transaction involving Merrill, Enron and the sale of some electricity-producing barges off the coast of Nigeria. The charges surrounded the 1999 sale of an interest in Nigerian energy barges by an Enron entity to Merrill Lynch was a sham that allowed Enron to illegally book about $12 million in pretax profit, when in fact there was no real sale and no real profit.
Four former Merrill top executives and two former midlevel Enron officials faced conspiracy and fraud charges. Merrill cut its own deal, firing bankers and agreeing to the outside oversight of its structured-finance transactions. It also settled civil fraud charges brought by the U.S. Securities and Exchange Commission, without admitting or denying fault.[56]
[edit]Discrimination charges
On June 26, 2007, the U.S. Equal Employment Opportunity Commission (EEOC) brought suit against Merrill Lynch,[57] alleging the firm discriminated against Dr. Majid Borumand because of his Iranian nationality and Islamic religion, with "reckless disregard" for his protected civil rights.[58] The EEOC law suit maintains that violations by members of the firm were intentional and committed with malice. In another case concerning mistreatment of another Iranian employee by Merrill Lynch on July 20, 2007, a NASD arbitration panel ordered Merrill Lynch to pay its former Iranian employee, Fariborz Zojaji, $1.6 million for firing him due to his Persian ethnicity.[59][60][61] Merrill Lynch's actions prompted reactions from both the National Iranian-American council, and the American-Arab Anti-Discrimination Committee.[62]
In its June 2008 issue, Diversity Inc. named Merrill Lynch one of the top 10 companies for lesbian, gay, bisexual, and transgendered employees, and the #7 top company in the US for diversity overall. In 2007, Merrill Lynch was named the #2 best company in the US for people with disabilities by Diversity Magazine.[63] As of June 5, 2008, Merrill Lynch has created the West Asian, Middle Eastern and North African (WAMENA) Professional Network to help support and provide additional resources for employees of diverse backgrounds. In May 2008, Merrill Lynch was named the #1 US company for "Diverse College Graduates" by Diversity Edge magazine, edging out Microsoft for the top spot on the rankings.[64]
New Jersey appeals court on August 13, 2008 rendered a ruling against Merrill Lynch in a discrimination law suit filed by a gay employee.[65]
[edit]Market timing settlement
In 2002 Merrill Lynch settled for 10 million civil penalty as a result of improper activities that took place out of the firm's Fort Lee New Jersey office. Three financial advisors, and a fourth who was involved to a lesser degree, placed 12,457 trades for a client Millennium Partners in at least 521 mutual funds and 63 mutual fund sub-accounts of at least 40 variable annuities. Millennium made profits in over half of the funds and fund sub-accounts. In those funds where Millennium made profits, its gains totaled about $60 million. Merrill Lynch failed to reasonably supervise these financial advisers, whose market timing siphoned short-term profits out of mutual funds and harmed long-term investors.[66]
[edit]2008 bonus payments
Merrill Lynch arranged for payment of billions in bonuses in what appeared to be "special timing". These bonuses totaling $3.6 billion were one-third of the money they received from the feds' TARP bailout. In addition, the timing of these bonuses angered many American people because they were authorized before the bank was to be acquired by Bank of America. It is now a foregone conclusion that without the rescue by BOA, Merrill would have collapsed.[citation needed] In 2008, Merrill lost billions yet still paid out 3.6 billion in bonuses.
The Merrill bonuses were determined by Merrill's Compensation Committee at its meeting of December 8, 2008, shortly after BOA shareholders approved the merger but before financial results for the fourth quarter had been determined. This appeared to be a departure from normal company practice, since the type of bonus Merrill awarded was a performance bonus that, according to company policy, was supposed to reflect all four quarters of performance and was paid in January or later. In this case, however, the bonuses were awarded in December before fourth-quarter performance had been determined.
They were also very large relative to the TARP monies allocated to Merrill. The Merrill bonuses were the equivalent of 36.2% of TARP monies Treasury allocated to Merrill. Merrill employees had to have a salary of at least $300,000 and have attained the title of Vice President or higher to be eligible.[67][68]
[edit]Industry awards

Ranked #1 in Barron's 2010 Top 1000 Advisors[69]
Ranked #1 in Barron's 2010 list for most advisors with No. 1 ranking in their state[70]
Ranked #1 in Barron's 2009 Top 1000 Advisors
Ranked #1 in Barron's 2009 list for most advisors with No. 1 ranking in their state
Institutional Investor
Ranked #3 in 2009 All-America Fixed-Income Research Team Survey
Ranked #1 for Pan European coverage in the 2009 All-Europe Research team survey
Ranked #3 in 2009 for Emerging EMEA coverage
Ranked #3 in the 2009 All-Latin America survey and #2 in the All-Brazil survey
Ranked #5 in the 2009 All-Asia Research team survey
Ranked #3 in 2009 All-America Equity Research Team Survey
Alpha Magazine – Ranked #3 by hedge funds in survey for All-Asia research teams
Forbes/Zacks – Best Brokerage for stock picking and estimate accuracy; captured more than twice the awards of the runner-up. Seven out of 12 analysts named to “Dazzling Dozen”
Wall Street Journal “ Best on the Street Stock Picking” Award - #3 in the U.S.; 17 ranked analysts
Thomson Reuters Extel - #1 for Pan-European Equity Sectors Rsch; #2 for Pan-European Equity & Equity Linked Rsch; #2 for Continental European Small & Mid Caps Rsch
Financial Times/StarMine
Ranked #1 Global Broker, #1 US Broker; #2 Europe Broker and #5 Pan-Asia Broker; received 42 individual analyst awards (May 2009)
Ranked #1 in the U.S., #2 in Latin America, #2 in Asia Pacific ex-Japan, #3 in Developed Europe in the 2009 for earnings forecasts; Ranked #4 in Asia Pacific ex-Japan, and #5 in Latin America in the 2009 for Stock Recommendations[71]

--

Lehman Brothers, bank investasi keempat terbesar di AS tidak mampu bertahan oleh hantaman krisis finansial yang sedang melanda dunia. Dalam waktu 24 jam ke depan, perusahaan Lehman Brothers akan mengajukan permohononan perlindungan dari kebangkrutan.

Berdasarkan peraturan Chapter 11 yang berlaku di AS, sebuah perusahaan yang terancam bangkrut boleh minta tenggang waktu untuk melakukan pengorganisasian kembali dan mengatur rencana untuk membayar pinjaman-pinjaman perusahaan. Saat ini, aparat kepolisian melakukan penjagaan ketat di kantor pusat Lehman Brothers di New York.

Pekan lalu, perusahaan itu mengumumkan kerugian perushaan sebesar 3, 9 milyar dollar di pasar uang AS yang menimbulkan keguncangan sistem keuangan global karena bank-bank rekanan Lehman menyatakan membatalkan kesepakatannya. Kebangkrutan Lehman tinggal menunggu waktu, setelah para pembeli saham potensialnya satu persatu mundur sepanjang pekan kemarin.

Pembahasan antara Barclays dan Bank of America akhirnya menyatakan bahwa mereka tidak yakin Lehman Brothers mampu melanjutkan usahanya dan memberikan keuntungan pada para pemegang sahamnya.

Saat ini, aparat kepolisian melakukan penjagaan ketat di kantor pusat Lehman Brothers di New York, sementara para pegawainya dengan membawa kotak-kotak terbuat dari kardus, meninggalkan kantor Lehman Brothers. Bank ini mempekerjakan sekitar 25.000 karyawan di seluruh dunia. Di Inggris saja, jumlah pegawai Lehman Brothers mencapai 5.000 orang.

Selain Lehman Borthers, bank Merril Lynch juga sedang terlilit masalah kredit dan sudah diambil alih oleh Bank of Amerika. Situasi ini makin memperjelas krisis keuangan yang dialami AS saat ini, dibarengi dengan makin melemahnya dollar AS terhadap mata uang Euro dan Yen serta lesunya bursa saham di Asia, Eropa dan Wall Street sendiri.

Mantan Kepala Federal Reserve AS, Alan Greenspan menyebut krisis keuangan yang melanda AS saay ini merupakan krisis berulang, sekali dalam pertengahan atau dalam satu abad. Dalam wawancara dengan ABC News, Greenspan mengatakan, krisis ini adalah krisis terburuk yang pernah ia lihat dan akan berlangsung lama. (ln/prtv/bbc/aljz)

--

INILAH.COM, Jakarta - Bangkrutnya Lehman Brother Inc telah menyeret sejumlah bank dan perusahaan asuransi di berbagai negara dalam masalah besar. Di Jepang, misalnya, 50 bank dan 7 perusahaan asuransi mengumumkan potensi kerugian US$ 2,4 miliar akibat bangkrutnya Lehman Brother.
Kerugian yang tidak sedikit juga dialami bank-bank dan perusahaan asuransi di China, Thailand, Singapura, Rusia, Eropa, sejumlah negara lainnya. Di Indonesia, memang baru Manulife Indonesia yang terang-terangan mengumumkan terkena dampak penutupan Lehman Brother.
David Beynon, Presiden Direktur Manulife Indonesia, mengakui bahwa perusahaan sempat membeli surat utang Lehman senilai US$ 3,5 juta. Namun, menurut Beynon, hal itu tak akan sampai membahayakan Manulife Indonesia mengingat aset perusahaan ini mencapai US$ 650 juta.
Banyak kalangan yakin, jumlah perusahaan di Indonesia yang terkena dampak penutupan Lehman Brother sebenarnya cukup banyak. Bahkan disebut-sebut pula bahwa saat ini sejumlah perusahaan sedang berupaya mencari uang tunai karena mereka harus mengembalikan pinjaman yang diterima dari Lehman Brothers.
Jika BI tak segera turun tangan, gejala ini berpotensi mendorong kenaikan tingkat suku bunga dan dolar. Di sejumlah negara, bank sentral mereka terpaksa turun tangan untuk menyelamatkan bank atau perusahaan asuransinya dari kebangkrutan.
Hal ini mengingatkan kepada kejadian di 1998 saat krisis keuangan melanda Indonesia. Ketika itu BI terpaksa mengucurkan dana talangan (BLBI) sekitar Rp 146 triliun untuk membantu bank-bank yang kesulitan likuiditas. Dan, hingga kini, penyelesaian BLBI belum juga tuntas.
Akankah krisis moneter 1998 kembali menimpa Indonesia? Banyak yang yakin, dampak yang ditimbulkan oleh kebangkrutan Lehman Brother tak akan separah ketika krisis keuangan sepuluh tahun silam.
Namun harus diakui, bangkrutnya Lehman dan sejumlah lembaga keuangan telah merontokan perekonomian Amerika. Jelas, hal ini mau tak mau akan berdampak kepada penurunan ekspor barang-barang dari Indonesia. [E1]

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INILAH.COM, Washington - Neraca keuangan Federal Reserve mencapai level rekor US$ 2,81 triliun pada pekan yang berakhir 8 Juni, dari US$ 2,79 triliun pada pekan sebelumnya.

Demikian ujar bank sentral AS pada Kamis (9/6). Neraca The Fed terus mencetak rekor mingguan karena bank sentral menyelesaikan rencananya untuk membeli US$ 600 miliar Treasurys pada akhir Juni.

The Fed membeli obligasi untuk mencoba meredakan kondisi keuangan dan menurunkan suku bunga jangka panjang di bawah rencana, dijuluki pelonggaran kuantitatif atau QE2.

Pejabat Fed mulai membahas bagaimana mengecilkan neraca, sesuai risalah rapat April mereka. Pejabat Fed akhirnya ingin kembali hanya memegang Treasurys dan mendapatkan neraca kembali ke tingkat sebelum krisis. Namun, beberapa pejabat Fed percaya bahwa proses ini bisa memakan waktu lima tahun.

Aktiva dan kewajiban The Fed hanya US$ 870 miliar pada Desember 2007. Laporan ini menunjukkan bahwa kepemilikan Fed atas Treasurys naik menjadi US$ 1,55 triliun dari US$ 1,53 triliun pekan sebelumnya.

Sementara kepemilikan The Fed atas efek berbasis mortgage tetap stabil pada US$ 917,9 miliar. Cadangan Bank naik sedikit ke US$ 1,66 triliun dari US$1,59 triliun pada pekan sebelumnya. [ast]

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INILAH.COM, Los Angeles - Paris Hilton gagal mendorong para pemirsa menonton acara reality show terbarunya.

Padahal dalam acara itu ia melepas seluruh pakaian serta beradegan mandi dan menyabuni tubuhnya di dalam sebuah bak mandi.

Acara reality show Paris yang berjudul The World According To Paris hanya berhasil menyedot 409.000 penonton.

Hal itu tidak sebanding dengan jumlah penonton pemutaran perdana acara Aubrey O'Day di saluran yang sama yaitu sebanyak 724.000 dan 1,7 juta untuk serial terbaru dari The Bad Girls Club.

Sebelumnya Paris berjanji akan tampil di acara ini secara penuh, dan kamera akan menyorot aktifitasnya mulai dari tidur di bawah selimut merah mudanya, hingga saat Paris berbicara dengan ibunya, Kathy.


-

Banyak yang beranggapan semakin besar ukuran payudara seorang wanita, akan terlihat semakin seksi.

Berdasarkan hasil penelitian sebuah lembaga konsultasi seks, menyebut bahwa idealnya tinggi payudara sampai puting cukup 15 cm, berat sekitar 750 gram, dengan volume 350-500 cc, dan pilihan bra full B (34-36).

Seperti yang dilansir dari Askedmen, beberapa wanita di Amerika Serikat, merasa payudaranya terlalu kerdil, dan hampir semua ingin memperbesarnya.

Tetapi sebaliknya 15% wanita AS merasa payudaranya kelewat besar dan berupaya memperkecilnya (breast-reduction). Ukuran, bentuk, tekstur, serta warna puting payudara itu lebih pada soal selera siapa pria yang memandangnya.

Oleh karenanya, psikolog dan konsultan seks, JS Wiggins membagi lelaki menjadi tiga tipe. Selain tipe breast-men, yang bernafsu kalau melihat payudara, ada lelaki jenis yang suka bokong wanita (buttock-men), dan ada pula jenis yang gandrung pada tungkai wanita (leg-men).

Kecenderungan lelaki lebih tertarik pada bagian tubuh wanita ditentukan oleh kepribadian, bidang pekerjaan, dan bisa jadi pengalaman masa kecilnya.

Dari studi itu terungkap kalau lelaki yang hobinya membaca Playboy, introvert, fundamentalis, dan submisif cenderung lebih tertarik pada payudara yang tidak besar.

Sementara itu, lelaki yang ekstrovert, selain lebih menyukai wanita berbokong besar, juga gampang kepincut oleh wanita berpayudara big size. Begitu juga lelaki yang bidang pekerjaannya porter dan serdadu lebih tertarik pada payudara montok ketimbang yang kecil rupawan.

Lebih dari itu, di dalam naluri kelelakian, bukan cuma ukuran, bentuk, dan tekstur payudara benar yang membuatnya jadi mabuk kepayang melihat payudara, melainkan juga aroma kulitnya, cita rasa batin, serta kehangatan visualnya.

Struktur payudara yang tegak menantang, kendati tidak terlalu besar, bagi sebagian lelaki jauh lebih memikat rasa seksnya dibandingkan payudara besar namun bergelambir. [mor]

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Lehman Brothers, which filed for bankruptcy Sunday to became the largest casualty of the global credit crisis, is in advanced talks to sell its investment management business, including the crown jewel, Neuberger Berman.



Lehman [LEH Loading... () ] is the biggest investment bank to collapse since 1990, when Drexel Burnham Lambert filed for bankruptcy amid a collapse in the junk bond market. Based on assets, Lehman also far surpasses WorldCom as the largest U.S. bankruptcy ever.

Lehman had assets of $639 billion at the end of May, while WorldCom had $107 billion when it filed for bankruptcy protection in 2002.

The Chapter 11 filing did not include Lehman's broker-dealer operations and other units, such as asset management firm Neuberger Berman.

Those businesses will continue to operate, although Lehman is expected to liquidate them.

Time is of the essence as Lehman sells assets.

Customers are often reluctant to trade with dealers whose parent companies are in bankruptcy, so the longer Lehman waits to sell its broker-dealer unit, for example, the less that unit will be worth.

Much of (Lehman's) asset value at the end of the day is tied up in its credibility, and that takes a significant hit early in a bankruptcy case," said Jack Williams, resident scholar at the American Bankruptcy Institute and a professor at Georgia State College of Law.

The bankruptcy filing represents the end of a 158-year-old company that survived world wars, the Asian financial crisis and the collapse of hedge fund Long-Term Capital Management, but not the global credit crunch.

Financial institutions globally have recorded more than $500 billion of write-downs and credit losses as the U.S. subprime mortgage crisis has spread to other markets.

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At the end of August, Lehman had $600 billion of assets financed with just $30 billion of equity.

Having so little capital meant that a 5 percent decline in assets would wipe out the value of the company, which investors saw as a real risk due to the company's billions of dollars of mortgage securities.

"Lehman decided to play chicken with the market and they lost," James Ellman, portfolio manager at hedge fund Seacliff Capital, said late on Sunday.

In its Chapter 11 filing, Lehman named Citibank and Bank of New York Mellon as trustees for about $138 billion of senior Lehman bonds. It said Citi's Hong Kong affiliate had made a $275 million bank loan to Lehman.

Among Lehman's other unsecured creditors are Japanese banks Aozora Bank, Mizuho Financial Group Inc, Shinsei Bank and UFJ Bank.


FROM 'FAST MONEY':
Sea Change in American Banking System
France's BNP Paribas is also on Lehman's list of its 30 largest unsecured creditors.

The firm said that as of May 31, it owed about $110.5 billion on account of senior unsecured notes, $12.6 billion on account of subordinated unsecured notes, and $5 billion on account of junior subordinated notes.

Lehman also disclosed that it owned stakes of 10 percent or more in a number of companies, including Imperial Sugar Co , Lpath Inc, Derma Services, Flagstone Reinsurance, GLG Partners, Ronco Corp , Pacific Energy Partners, Blount International , Pemstar Inc and Transmontaigne Inc.

The investment bank, once the fourth-largest in the United States, had hoped to raise capital by selling off a stake in its investment unit, and use that capital as well as other funds to spin off some of its toxic assets to shareholders.

But that plan did not satisfy investors, who punished Lehman's share price, or rating agencies, who pressed the company to find a stronger partner.

Lehman said the uncertainty, particularly among banks through which it clears securities trades, ultimately made it impossible for it to continue to operate its business.

Federal Reserve Statement on Lehman Brothers
Bank Deposits: What's Insured, What's Not
Slideshow: Bank Failures of 2008
The bankruptcy filing comes after a weekend of heated negotiations among regulators and Wall Street firms about Lehman's fate.

The U.S. government refused to backstop Lehman's worst assets the way it backstopped Bear Stearns Cos Inc's sale to JPMorgan Chase.

Government officials told banks to support Lehman or else be prepared for more investment banks to lose investor confidence and fail.

But prospective bidders refused to buy Lehman without government support, people briefed on the matter said.

In the end, Lehman was allowed to fail, and Bank of America Corp agreed to buy what was seen as the next weakest U.S. investment bank, Merrill Lynch & Co Inc.

For many of Lehman's 26,000 employees the outlook is likely to be gloomy, with job losses expected to be substantial even if significant parts of the business can be sold.


The Fall of Lehman Brothers
Fed Braces Markets for Financial StormPOLL: What Should the Fed Do?Lehman's Asia Staff Sit and WaitLehman CEO's Star FadesFed's Statement on LehmanBofA Buys Merrill for $29 a Share AIG Reaches Out to Fed Farrell: Parsing the Faltering FinancialsPaulson's Statement on Markets
At Lehman's headquarters in midtown Manhattan on Sunday afternoon, men dressed in suits came and went, while some employees entered the building with what appeared to be empty duffel bags, then left with them full.

Others emerged with accordion files, binders stuffed with papers and full valises.

On Sunday night, hundreds of Lehman employees were still in the office to clear their desks and pack personal belongings, according to an employee.

Many opted to say their farewells with one last office soiree. "We are having pizza and beer," the employee said.

"I guess times are tough and we've got to face the music," said a Lehman banker in London. "Everyone is worried about their job -- it's inevitable."

Markets are likely to be wary of what is ahead. Bankruptcy is a long, complex process where almost everything is done out in the open, as opposed to the veil of secrecy Wall Street uses to conduct deals.

"This isn't a manufacturer or retailer...so we don't have a very rich track record about how the issues will be addressed, and the classic signposts just aren't there," the American Bankruptcy Institute's Williams said. "Once the company goes into bankruptcy, this is going to be an opportunity to look under the hood, and we might not like what we see."

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Goldman Sachs Group, Inc. (NYSE: GS) merupakan sebuah bank di Amerika Serikat. Pendiri bank ini ialah Marcus Goldman. Bank ini didirikan pada tahun 1869. Bermarkas di New York City, New York, Amerika Serikat. Perusahaan ini mempekerjakan 30.067 pekerjanya pada tahun 2008.

Goldman Sachs Group, Inc. is an American investment banking and securities firm that engages in global investment banking, securities, investment management, and other financial services primarily with institutional clients. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in major international financial centers. The firm provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market.
Former employees include Robert Rubin and Henry Paulson who served as United States Secretary of the Treasury under Presidents Bill Clinton and George W. Bush, respectively, as well as Mark Carney, the governor of the Bank of Canada since 2008.

1869–1930
Goldman Sachs was founded in New York in 1869 by the German-born Marcus Goldman.[1][2] In 1882, Goldman's son-in-law Samuel Sachs joined the firm.[3] In 1885, Goldman took his son Henry and his son-in-law Ludwig Dreyfuss into the business and the firm adopted its present name, Goldman Sachs & Co.[4] The company made a name for itself pioneering the use of commercial paper for entrepreneurs and was invited to join the New York Stock Exchange (NYSE) in 1896.
In the early 20th century, Goldman was a player in establishing the initial public offering (IPO) market. It managed one of the largest IPOs to date, that of Sears, Roebuck and Company in 1906. It also became one of the first companies to heavily recruit those with MBA degrees from leading business schools, a practice that still continues today.[citation needed]
On December 4, 1928, it launched the Goldman Sachs Trading Corp. a closed-end fund with characteristics similar to that of a Ponzi scheme. The fund failed as a result of the Stock Market Crash of 1929, hurting the firm's reputation for several years afterward.[5] Of this case and others like Blue Ridge Corporation[6] and Shenandoah Corporation[7] John Kenneth Galbraith wrote: The Autumn of 1929 was, perhaps, the first occasion when men succeeded on a large scale in swindling themselves.[8]
[edit]1930–1980
In 1930, Sidney Weinberg assumed the role of senior partner and shifted Goldman's focus away from trading and towards investment banking. It was Weinberg's actions that helped to restore some of Goldman's tarnished reputation. On the back of Weinberg, Goldman was lead advisor on the Ford Motor Company's IPO in 1956, which at the time was a major coup on Wall Street. Under Weinberg's reign the firm also started an investment research division and a municipal bond department. It also was at this time that the firm became an early innovator in risk arbitrage.
Gus Levy joined the firm in the 1950s as a securities trader, which started a trend at Goldman where there would be two powers generally vying for supremacy, one from investment banking and one from securities trading. For most of the 1950s and 1960s, this would be Weinberg and Levy. Levy was a pioneer in block trading and the firm established this trend under his guidance. Due to Weinberg's heavy influence at the firm, it formed an investment banking division in 1956 in an attempt to spread around influence and not focus it all on Weinberg.
In 1969, Levy took over as Senior Partner from Weinberg, and built Goldman's trading franchise once again. It is Levy who is credited with Goldman's famous philosophy of being "long-term greedy", which implied that as long as money is made over the long term, trading losses in the short term were not to be worried about. At the same time, partners reinvested almost all of their earnings in the firm, so the focus was always on the future.[9] That same year, Weinberg retired from the firm.
Another financial crisis for the firm occurred in 1970, when the Penn Central Transportation Company went bankrupt with over $80 million in commercial paper outstanding, most of it issued by Goldman Sachs. The bankruptcy was large, and the resulting lawsuits threatened the partnership capital and life of the firm. It was this bankruptcy that resulted in credit ratings being created for every issuer of commercial paper today by several credit rating services.[10]
During the 1970s, the firm also expanded in several ways. Under the direction of Senior Partner Stanley R. Miller, it opened its first international office in London in 1970, and created a private wealth division along with a fixed income division in 1972. It also pioneered the "white knight" strategy in 1974 during its attempts to defend Electric Storage Battery against a hostile takeover bid from International Nickel and Goldman's rival Morgan Stanley.[11] This action would boost the firm's reputation as an investment advisor because it pledged to no longer participate in hostile takeovers.
John L. Weinberg (the son of Sidney Weinberg), and John C. Whitehead assumed roles of co-senior partners in 1976, once again emphasizing the co-leadership at the firm. One of their initiatives was the establishment of the 14 business principles[12] that are still used to this day.
[edit]1980–1999
On November 16, 1981, the firm made a move by acquiring J. Aron & Company, a commodities trading firm which merged with the Fixed Income division to become known as Fixed Income, Currencies, and Commodities. J. Aron was a player in the coffee and gold markets, and the current CEO of Goldman, Lloyd Blankfein, joined the firm as a result of this merger. In 1985 it underwrote the public offering of the Real Estate Investment Trust that owned Rockefeller Center, then the largest REIT offering in history. In accordance with the beginning of the dissolution of the Soviet Union, the firm also became involved in facilitating the global privatization movement by advising companies that were spinning off from their parent governments.
In 1986, the firm formed Goldman Sachs Asset Management, which manages the majority of its mutual funds and hedge funds today. In the same year, the firm also underwrote the IPO of Microsoft, advised General Electric on its acquisition of RCA and joined the London and Tokyo stock exchanges. 1986 also was the year when Goldman became the first United States bank to rank in the top 10 of mergers and acquisitions in the United Kingdom. During the 1980s the firm became the first bank to distribute its investment research electronically and created the first public offering of original issue deep-discount bond.
Robert Rubin and Stephen Friedman assumed the Co-Senior Partnership in 1990 and pledged to focus on globalization of the firm and strengthening the Merger & Acquisition and Trading business lines. During their reign, the firm introduced paperless trading to the New York Stock Exchange and lead-managed the first-ever global debt offering by a U.S. corporation. It also launched the Goldman Sachs Commodity Index (GSCI) and opened a Beijing office in 1994. It was this same year that Jon Corzine assumed leadership of the firm following the departure of Rubin and Friedman.
Another momentous event in Goldman's history was the Mexican bailout of 1995. Rubin drew criticism in Congress for using a Treasury Department account under his personal control to distribute $20 billion to bail out Mexican bonds, of which Goldman was a key holder.[13] On November 22, 1994, the Mexican Bolsa stock market had admitted Goldman Sachs and one other firm to operate on that market.[14] The 1994 economic crisis in Mexico threatened to wipe out the value of Mexico's bonds held by Goldman Sachs.
The firm joined David Rockefeller and partners in a 50–50 joint ownership of Rockefeller Center during 1994, but later sold the shares to Tishman Speyer in 2000. In 1996, Goldman was lead underwriter of the Yahoo! IPO and in 1998 it was global coordinator of the NTT DoCoMo IPO. In 1999, Henry Paulson took over as Senior Partner.
[edit]Since 1999
One of the largest events in the firm's history was its own IPO in 1999. The decision to go public was one that the partners debated for decades. In the end, Goldman decided to offer only a small portion of the company to the public, with some 48% still held by the partnership pool.[15] 22% of the company was held by non-partner employees, and 18% was held by retired Goldman partners and two longtime investors, Sumitomo Bank Ltd. and Hawaii's Kamehameha Activities Assn (the investing arm of Kamehameha Schools). This left approximately 12% of the company as being held by the public. With the firm's 1999 IPO, Paulson became Chairman and Chief Executive Officer of the firm. As of 2009, after further stock offerings to the public, Goldman is 67% owned by institutions (such as pension funds and other banks).[16]
In 1999, Goldman acquired Hull Trading Company, one of the world's premier market-making firms, for $531 million. More recently, the firm has been busy both in investment banking and in trading activities. It purchased Spear, Leeds, & Kellogg, one of the largest specialist firms on the New York Stock Exchange, for $6.3 billion in September 2000. It also advised on a debt offering for the Government of China and the first electronic offering for the World Bank. In 2003 it took a 45% stake in a joint venture with JBWere, the Australian investment bank. Goldman opened a full-service broker-dealer in Brazil in 2007, after having set up an investment banking office in 1996. It expanded its investments in companies to include Burger King, McJunkin Corporation, and in January 2007, Alliance Atlantis alongside CanWest Global Communications to own sole broadcast rights to the all three CSI series. The firm is also heavily involved in energy trading, including the oil speculation market, on both a principal and agent basis.[17]
In May 2006, Paulson left the firm to serve as U.S. Treasury Secretary, and Lloyd C. Blankfein was promoted to Chairman and Chief Executive Officer. Former Goldman employees have headed the New York Stock Exchange, the World Bank, the U.S. Treasury Department, the White House staff, and firms such as Citigroup and Merrill Lynch.
[edit]Actions in the 2007–2008 subprime mortgage crisis
During the 2007 subprime mortgage crisis, Goldman was able to profit from the collapse in subprime mortgage bonds in the summer of 2007 by short-selling subprime mortgage-backed securities. Two Goldman traders, Michael Swenson and Josh Birnbaum, are credited with bearing responsibility for the firm's large profits during America's sub-prime mortgage crisis.[18] The pair, members of Goldman's structured products group in New York, made a profit of $4 billion by "betting" on a collapse in the sub-prime market, and shorting mortgage-related securities. By summer of 2007, they persuaded colleagues to see their point of view and talked around skeptical risk management executives.[19] The firm initially avoided large subprime writedowns, and achieved a net profit due to significant losses on non-prime securitized loans being offset by gains on short mortgage positions. Its sizable profits made during the initial subprime mortgage crisis led the New York Times to proclaim that Goldman Sachs is without peer in the world of finance.[20] The firm's viability was later called into question as the crisis intensified in September 2008.
On October 15, 2007, as the crisis had begun to unravel, Allan Sloan, a senior editor for Fortune magazine, said:[21]
So let's reduce this macro story to human scale. Meet GSAMP Trust 2006-S3, a $494 million drop in the junk-mortgage bucket, part of the more than half-a-trillion dollars of mortgage-backed securities issued last year. We found this issue by asking mortgage mavens to pick the worst deal they knew of that had been floated by a top-tier firm – and this one's pretty bad.

It was sold by Goldman Sachs — GSAMP originally stood for Goldman Sachs Alternative Mortgage Products but now has become a name itself, like AT&T and 3M.

This issue, which is backed by ultra-risky second-mortgage loans, contains all the elements that facilitated the housing bubble and bust. It's got speculators searching for quick gains in hot housing markets; it's got loans that seem to have been made with little or no serious analysis by lenders; and finally, it's got Wall Street, which churned out mortgage "product" because buyers wanted it. As they say on the Street, "When the ducks quack, feed them."
On September 21, 2008, Goldman Sachs and Morgan Stanley, the last two major investment banks in the United States, both confirmed that they would become traditional bank holding companies, bringing an end to the era of investment banking on Wall Street.[22][23] The Federal Reserve's approval of their bid to become banks ended the ascendancy of the securities firms, 75 years after Congress separated them from deposit-taking lenders, and capped weeks of chaos that sent Lehman Brothers into bankruptcy and led to the rushed sale of Merrill Lynch & Co. to Bank of America Corp.[24][25]
According to a 2009 BrandAsset Valuator survey taken of 17,000 people nationwide, the firm's reputation suffered in 2008 and 2009, and rival Morgan Stanley was respected more than Goldman Sachs, a reversal of the sentiment in 2006. Goldman refused to comment on the findings.[26]
[edit]TARP and Berkshire Hathaway investment
On September 23, 2008, Berkshire Hathaway agreed to purchase $5 billion in Goldman's preferred stock, and also received warrants to buy another $5 billion in Goldman's common stock, exercisable for a five-year term.[27] Goldman also received a $10 billion preferred stock investment from the U.S. Treasury in October 2008, as part of the Troubled Asset Relief Program (TARP).[28]
Andrew Cuomo, then Attorney General of New York, questioned Goldman's decision to pay 953 employees bonuses of at least $1 million each after it received TARP funds in 2008.[29] That same period, however, CEO Lloyd Blankfein and six other senior executives opted to forgo bonuses, stating they believed it was the right thing to do, in light of "the fact that we are part of an industry that's directly associated with the ongoing economic distress".[30] Cuomo called the move "appropriate and prudent", and urged the executives of other banks to follow the firm's lead and refuse bonus payments.
In June 2009, Goldman Sachs repaid the U.S. Treasury’s TARP investment, with 23% interest (in the form of $318 million in preferred dividend payments and $1.418 billion in warrant redemptions).[31] In December 2009, Goldman announced their top 30 executives will be paid year-end bonuses in restricted stock, with clawback provisions, that must go unsold for five years.[32][33]
[edit]Use of Federal Reserve's Emergency Liquidity Programs
During the 2008 Financial Crisis, the Federal Reserve introduced a number of short-term credit and liquidity facilities to help stabilize markets. Some of the transactions under these facilities provided liquidity to institutions whose disorderly failure could have severely stressed an already fragile financial system.[34]
Goldman Sachs was one of the heaviest users of these loan facilities, taking out numerous loans from March 18, 2008 – April 22, 2009. The Primary Dealer Credit Facility (PDCF), the first Fed facility ever to provide overnight loans to investment banks, loaned Goldman Sachs a total of $589 billion against collateral such as corporate market instruments and mortgage-backed securities.[35] The Term Securities Lending Facility (TSLF), which allows primary dealers to borrow liquid Treasury securities for one month in exchange for less liquid collateral, loaned Goldman Sachs a total of $193 billion.[36]
Goldman Sachs's borrowings totaled $782 billion in hundreds of transactions over these months.[37] This number is a total of all transactions over time and not the outstanding loan balance. The loans have been fully repaid in accordance with the terms of the facilities.[38][39]
[edit]Corporate affairs



Goldman Sachs Tower, at 30 Hudson Street, in Jersey City.
As of 2009, Goldman Sachs employed 31,701 people worldwide.[32] In 2006, the firm reported earnings of US$9.34 billion and record earnings per share of $19.69.[40] It was reported that the average total compensation per employee in 2006 was US$622,000.[41] However, this number represents the arithmetic mean of total compensation and is highly skewed upwards as several hundred of the top recipients command the majority of the Bonus Pools, leaving the median that most employees receive well below this number.[42] In Business Week's recent release of the Best Places to Launch a Career 2008, Goldman Sachs was ranked #4 out of 119 total companies on the list.[43] The current Chief Executive Officer is Lloyd C. Blankfein. The company ranks #1 in Annual Net Income when compared with 86 peers in the Investment Services sector. Blankfein received a $67.9 million bonus in his first year. He chose to receive "some" cash unlike his predecessor, Paulson, who chose to take his bonus entirely in company stock.[44]
Goldman Sachs is divided into three businesses units: Investment Banking, Trading and Principal Investments, and Asset Management and Securities Services.[45]
[edit]Investment banking
Investment banking is divided into two divisions and includes Financial Advisory (mergers and acquisitions, investitures, corporate defense activities, restructuring and spin-offs) and Underwriting (public offerings and private placements of equity, equity-related and debt instruments). Goldman Sachs is one of the leading M&A advisory firms, often topping the league tables in terms of transaction size. The firm gained a reputation as a white knight in the mergers and acquisitions sector by advising clients on how to avoid hostile takeovers, moves generally viewed as unfriendly to shareholders of targeted companies. Goldman Sachs, for a long time during the 1980s, was the only major investment bank with a strict policy against helping to initiate a hostile takeover, which increased the firm's reputation immensely among sitting management teams at the time. The investment banking segment accounts for around 17 percent of Goldman Sachs' revenues.[46]
The firm has also been involved in both advising and brokering deals to privatize major highways by selling them to foreign investors. In addition to advising 4 state and local governments on privatization projects, including Indiana, Texas, and Chicago.[47]
[edit]Trading & principal investments
Trading and Principal Investments is the largest of the three segments, and is the company's profit center.[48] The segment is divided into three divisions and includes Fixed Income, Currency and Commodities (trading in interest rate and credit products, mortgage-backed securities and loans, currencies and commodities, insurance-linked securities, structured and derivative products), Equities (trading in equities, equity-related products, equity derivatives, structured products and executing client trades in equities, options, and futures contracts on world markets), and Principal Investments (merchant banking investments and funds). This segment consists of the revenues and profit gained from the Bank's trading activities, both on behalf of its clients (known as flow trading) and for its own account (known as proprietary trading).
Most trading done by Goldman is not speculative, but rather an attempt to profit from bid-ask spreads in the process of acting as a market maker.[citation needed] On average, around 68 percent of Goldman's revenues and profits are derived from trading.[48] Upon its IPO, Goldman predicted that this segment would not grow as fast as its Investment Banking division and would be responsible for a shrinking proportion of earnings. The opposite has been true however, resulting in now-CEO Blankfein's appointment to President and Chief Operating Officer after John Thain's departure to run the NYSE and John L. Thornton's departure for an academic position in China.
[edit]Asset management and securities services


Goldman Sachs Headquarters, at 200 West Street, in Manhattan.
As the name suggests, the firm's Asset Management and Securities Services segment is divided into two components: Asset Management and Securities Services. The Asset Management division provides investment advisory and financial planning services and offers investment products (primarily through separately managed accounts and commingled vehicles) across all major asset classes to a diverse group of institutions and individuals worldwide.[49] The unit primarily generates revenues in the form of management and incentive fees. The Securities Services division provides clearing, financing, custody, securities lending, and reporting services to institutional clients, including hedge funds, mutual funds, and pension funds. The division generates revenues primarily in the form of interest rate spreads or fees.[49]
In 2006, the Goldman Sachs Asset Management hedge fund was the 9th largest in the United States, with $20.58 billion under management.[50] This was down from $32.5 billion in 2007, after client redemptions and weaker investment performance.[51][52]
[edit]GS Capital Partners
Main article: Goldman Sachs Capital Partners
GS Capital Partners is the private equity arm of Goldman Sachs. It has invested over $17 billion in the 20 years from 1986 to 2006. One of the most prominent funds is the GS Capital Partners V fund, which comprises over $8.5 billion of equity.[53] On April 23, 2007, Goldman closed GS Capital Partners VI with $20 billion in committed capital, $11 billion from qualified institutional and high net worth clients and $9 billion from the firm and its employees. GS Capital Partners VI is the current primary investment vehicle for Goldman Sachs to make large, privately negotiated equity investments.[54]
[edit]Major private equity assets
The Ayco Company, L.P. (Financial Advisory)
Cogentrix Energy (Energy)
American Casino & Entertainment Properties (Casinos)
CH James Restaurant Holdings (Quick Service Restaurant)
Coffeyville Resources LLC (Oil Refinery)
USI Holdings Corporation (Insurance & Finance)
East Coast Power LLC (Energy)
Queens Moat Houses (Hotels)
Sequoia Credit Consolidation (Finance)
Shineway Industrial Group (Meat Processing)
Equity Inns, Inc. (Hotels)
Arcandor (former KarstadtQuelle property group – Retailer)
Medfinders Inc. (formerly Nursefinders Inc. – Healthcare)
Latin Force Group, LLC (Media)
Constellation Energy Group
Archon Hospitality Japan (Hotels)
CMC Markets (Financial trading)[55]
[edit]Predictions
In December 2005, four years after its report on the emerging "BRIC" economies (Brazil, Russia, India, and China), Goldman Sachs named its "Next Eleven"[56] list of countries, using macroeconomic stability, political maturity, openness of trade and investment policies and quality of education as criteria: Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam.[57]
[edit]Corporate citizenship
Goldman Sachs has received favorable press coverage for conducting business and implementing internal policies related to reversing global climate change.[58] According to the company website, the Goldman Sachs Foundation has given $114 million in grants since 1999, with the goal of promoting youth education worldwide.[59]
The company also has been on Fortune Magazine's 100 Best Companies to Work For list since the list was launched in 1998, with emphasis placed on its support for employee philanthropic efforts.[60] In November 2007, Goldman Sachs established a donor advised fund called Goldman Sachs Gives that donates to charitable organizations around the world, while increasing their maximum employee donation match to $20,000.[61] The firm's Community TeamWorks is an annual, global volunteering initiative that in 2007 gave over 20,000 Goldman employees a day off work from May through August to volunteer in a team-based project organized with a local nonprofit organization.[62]
In March 2008, Goldman launched the 10,000 Women initiative to train 10,000 women from predominantly developing countries in business and management.[63]
In November 2009, Goldman pledged $500 million to aid small businesses in their newly-created 10,000 Small Businesses initiative. The initiative aims to provide 10,000 small businesses with assistance — ranging from business and management education and mentoring to lending and philanthropic support. The networking will be offered through partnerships with national and local business organizations, as well as employees of Goldman Sachs.[64] In addition to Goldman CEO Lloyd Blankfein, Berkshire Hathaway's Warren Buffet and Harvard Business School professor Michael Porter will chair the program's advisory council.[63]
Goldman Sachs employees are known to be highly loyal to their organization.[62] [65]
[edit]Tax Rate
Goldman Sachs expected in December 2008 to pay $14 million in taxes worldwide for 2008 compared with $6 billion the previous year, after making $2.3 billion profit and paying $10.9 billion in employee pay and benefits. The company’s effective tax rate dropped to 1% from 34.1% in 2007, due to tax credits and, according to Goldman Sachs, "changes in geographic earnings mix" thus reducing the company's tax obligation.[66][67] Many critics argue that the reduction in Goldman Sach's tax rate was achieved by shifting its earnings to subsidiaries in low- or no-tax nations. Goldman Sachs had 28 such subsidiaries at the time, including 15 in the Cayman Islands.[68] According to Representative Lloyd Doggett (D-TX), "with the right hand out begging for bailout money, the left is hiding it offshore."[66]
[edit]Controversies

[edit]California bonds
On November 11, 2008, the Los Angeles Times reported that Goldman Sachs, which earned $25M from underwriting California bonds, had advised other clients to short those bonds.[69] While some journalists criticized the contradictory actions,[70] others pointed out that the opposite investment decisions undertaken by the underwriting side and the trading side of the bank were normal and in line with regulations regarding Chinese walls.[71]
[edit]Personnel 'revolving-door' with U.S. government
During 2008 Goldman Sachs received criticism for an apparent revolving door relationship, in which its employees and consultants have moved in and out of high level U.S. Government positions, creating the potential for conflicts of interest. Former Treasury Secretary Paulson was a former CEO of Goldman Sachs. Additional controversy attended the selection of former Goldman Sachs lobbyist Mark Patterson as chief of staff to Treasury Secretary Timothy Geithner, despite President Barack Obama's campaign promise that he would limit the influence of lobbyists in his administration.[72] In February 2011, the Washington Examiner reported that Goldman Sachs was "the company from which Obama raised the most money in 2008" and that its "CEO Lloyd Blankfein has visited the White House 10 times."[73]
[edit]Greece and European sovereign debt crisis
Goldman was criticized for its involvement in the 2010 European sovereign debt crisis. Goldman Sachs between the years 1998–2009 has been reported to systematically help the Greek government to mask its national true debt facts.[74] In September 2009, though, Goldman Sachs among others, created a special Credit Default Swap (CDS) index for the cover of high risk national debt of Greece.[75] The interest-rates of Greek national bonds have soared to a very high level, leading the Greek economy very close to bankruptcy in March 2010 and yet again in May 2010.
[edit]Insider trading cases
In 1986, David Brown was convicted of passing inside information to Ivan Boesky on a takeover deal.[76] Robert Freeman, who was a senior Partner, who was the Head of Risk Arbitrage, and who was a protégé of Robert Rubin, was also convicted of insider trading, for his own account and for the firm's account.[77]
In April, 2010, Goldman director Rajat Gupta was named in an insider-trading case. It was said Gupta had "tipped off a hedge-fund billionaire," Raj Rajaratnam of Galleon Group, about the $5 billion Berkshire Hathaway investment in Goldman in September, 2008. According to the report, Gupta had told Goldman the month before his involvement became public that he wouldn't seek re-election as a director.[78] In early 2011, with the delayed Rajaratnam criminal trial about to begin,[79] the United States Securities and Exchange Commission (SEC) announced civil charges against Gupta covering the Berkshire investment as well as confidential quarterly earnings information from Goldman and Procter & Gamble (P&G). Gupta was board member at P&G until voluntarily resigning the day of the SEC announcement, after the charges were announced. "Gupta was an investor in some of the Galleon hedge funds when he passed the information along, and he had other business interests with Rajaratnam that were potentially lucrative.... Rajaratnam used the information from Gupta to illegally profit in hedge fund trades.... The information on Goldman made Rajaratnam's funds $17 million richer.... The Proctor & Gamble data created illegal profits of more than $570,000 for Galleon funds managed by others, the SEC said." Gupta was said to have "vigorously denied the SEC accusations." He is also a board member of AMR Corp..[80]
[edit]First Quarter 2009 and December 2008 financial results
In April 2009, there was controversy that Goldman Sachs had 'puffed up' its Q1 earnings by creating a December 'orphan month' into which it shifted large writedowns.[81] In its first full quarter as a bank holding company, the firm reported a USD 780M net loss for the single month of December alongside Q1 net earnings of USD 1.81B (Jan–Mar)[82][83]
The accounting change to a calendar fiscal year, which created the stub month, was required when the firm converted to a bank holding company and declared in Item 5.03 of its Form 8-K U.S. Securities and Exchange Commission (SEC) filing of December 15, 2008.[84] The December loss also included a USD 850M writedown on loans to bankrupt chemical maker LyondellBasell, as reported in late December (the chemical maker formally declared bankruptcy on January 6 but the loan would have been marked-to-market – it became clear in mid/late-December that Lyondell would not be able to meet its debt obligations).[85][86]
Most financial analysts and the mainstream financial press (Bloomberg L.P., Reuters, etc), aware of the accounting change and deteriorating market conditions into December, were unsurprised by the December loss (Merrill Lynch took at least USD 8.1B of losses in the same period).[87] However, their lack of reaction and reporting of what was a widely expected result may have contributed to the surprise attributing this as a sign that the firm was trying to 'hide' losses in December. On the contrary, the results of December 2008 were discussed up front and in detail by CFO David Viniar in the first few minutes of the firm's Q1 2009 conference call, and were fully declared on page 10 of its earnings release document.[82][88]
On April 22, 2009, Morgan Stanley also reported [89] a USD 1.3B net loss for the single month of December, alongside a USD 177M loss for the first quarter (Jan–Mar).[90] However, whereas Goldman Sachs' first-quarter earnings (Jan–Mar) were well-above forecasts[91] (which led to the speculation that the firm may have 'conveniently' shifted losses into December), Morgan Stanley's results for the same Jan–Mar period were below consensus estimates.[92] This, in addition to Morgan Stanley's losses in December, would appear to support Goldman's rejection of the notion that they deliberately shifted losses into December.[83] Like Goldman Sachs, Morgan Stanley converted to a bank holding company after the bankruptcy of Lehman Brothers in September 2008.
At the end of 2009, the firm was on track to complete its most profitable year since its founding.[33][93]
[edit]Involvement with the bailout of AIG
American International Group (AIG) was bailed out by the US government in September 2008 after suffering a liquidity crisis, whereby the Federal Reserve initially lent $85 billion USD to AIG to allow the firm to meet its collateral and cash obligations.
In March 2009, it was reported that, in 2008, Goldman Sachs, alongside other major US and international financial institutions, had received billions of dollars during the unwind of credit default swap (CDS) contracts purchased from AIG, including $12.9bn from funds provided by the US Federal Reserve to bail out AIG.[94][95][96] (As of April, 2009, US Government loans to AIG totaled over $180 billion.) The money was used to repay customers of its security-lending program and was paid as collateral to counterparties under credit insurance contracts purchased from AIG. However, due to the size and nature of the payouts there was considerable controversy in the media and amongst some politicians as to whether banks, including Goldman Sachs, may have benefited materially from the bailout and if they had been overpaid.,[97][98] The New York State Attorney General Andrew Cuomo announced in March 2009 that he was investigating whether AIG's trading counterparties improperly received government money.[99]
[edit]Firm's response to criticism of AIG payments
Goldman Sachs has maintained that its net exposure to AIG was 'not material', and that the firm was protected by hedges (in the form of CDSs with other counterparties) and USD 7.5B of collateral.[100] The firm stated the cost of these hedges to be over USD 100M.[101] According to Goldman, both the collateral and CDSs would have protected the bank from incurring an economic loss in the event of an AIG bankruptcy (however, because AIG was bailed out and not allowed to fail, these hedges did not pay out.)[102] CFO David Viniar stated that profits related to AIG in Q1 2009 "rounded to zero", and profits in December were not significant. He went on to say that he was "mystified" by the interest the government and investors have shown in the bank's trading relationship with AIG.[103]
Considerable speculation remains that Goldman's hedges against their AIG exposure would not have paid out if AIG was allowed to fail. According to a report by the United States Office of the Inspector General of TARP, if AIG had collapsed, it would have made it difficult for Goldman to liquidate its trading positions with AIG, even at discounts, and it also would have put pressure on other counterparties that "might have made it difficult for Goldman Sachs to collect on the credit protection it had purchased against an AIG default."[104] Finally, the report said, an AIG default would have forced Goldman Sachs to bear the risk of declines in the value of billions of dollars in collateral debt obligations.
Goldman argues that CDSs are marked to market (i.e. valued at their current market price) and their positions netted between counterparties daily. Thus, as the cost of insuring AIG's obligations against default rose substantially in the lead-up to its bailout, the sellers of the CDS contracts had to post more collateral to Goldman Sachs. The firm claims this meant its hedges were effective and the firm would have been protected against an AIG bankruptcy and the risk of knock-on defaults, had AIG been allowed to fail.[101] However, in practice, the collateral would not protect fully against losses both because protection sellers would not be required to post collateral that covered the complete loss during a bankruptcy and because the value of the collateral would be highly uncertain following the repercussions of an AIG bankruptcy.[citation needed] As with the bankruptcy of Lehman Brothers, wider and longer-term systemic and economic turmoil brought on by an AIG default would probably have affected the firm and all other market participants.[citation needed]
[edit]Final AIG meetings on September 15 at the New York Federal Reserve
Some have cited, although incorrectly as others have noted,[105] that Goldman Sachs received preferential treatment from the government by being the only Wall Street firm to have participated in the crucial September meetings at the New York Fed, which decided AIG's fate. Much of this has stemmed from an inaccurate but often quoted New York Times article. The article was later corrected to state that Blankfein, CEO of Goldman Sachs, was "'one of the Wall Street chief executives at the meeting" (emphasis added). Bloomberg has also reported that representatives from other firms were indeed present at the September AIG meetings.[106] Furthermore, Goldman Sachs CFO David Viniar has stated that CEO Blankfein had never "met" with his predecessor and then-US Treasury Secretary Henry Paulson to discuss AIG;[107] However, there were frequent phone calls between the two of them.[108] Paulson was not present at the September meetings at the New York Fed. It is also a lesser known fact that Morgan Stanley was hired by the Federal Reserve to advise them on the AIG bailout.[109]
According to the New York Times, Paulson spoke with the CEO of Goldman Sachs two dozen times during the week of the bailout, though he obtained an ethics waiver before doing so.[110] While it is common for regulators to be in contact with market participants to gather valuable industry intelligence, particularly in a crisis, the Times noted he spoke with Goldman's Blankfein more frequently than with other large banks. Federal officials say that although Paulson was involved in decisions to rescue A.I.G, it was the Federal Reserve that played the lead role in shaping and financing the A.I.G. bailout.[110]
[edit]Former New York Fed Chairman's ties to the firm
Stephen Friedman, a former director of Goldman Sachs, was named Chairman of the Federal Reserve Bank of New York in January 2008. Although he had retired from Goldman in 1994, Friedman continued to own stock in the firm. Goldman's conversion from a securities firm to a bank holding company in September 2008 meant it was now regulated by the Fed and not the SEC. When it became apparent that Timothy Geithner, then president of the New York Fed, would leave his role there to become Treasury Secretary, Friedman was granted a temporary one-year waiver of a rule that forbids "class C" directors of the Fed from direct interest with those it regulates. Friedman agreed to remain on the board until the end of 2009 to provide continuity in the wake of the turmoil caused by Lehman Brothers' bankruptcy. Had the waiver not been granted, the New York Fed would have lost both its president and its chairman (or Friedman would have had to divest his Goldman shares).[111] This would have been highly disruptive for the New York Fed's role in the capital markets, and Friedman later said he agreed to stay on the NY Fed board out of a sense of public duty, but that his decision was "being mischaracterised as improper".[112]
Media reports in May 2009 concerning Friedman's involvement with Goldman, and in particular, his purchase of the firm's stock when it traded at historical lows in the fourth quarter of 2008,[111] fueled controversy and criticism over what was seen as a conflict of interest in Friedman's new role as supervisor and regulator to Goldman Sachs. These events prompted his resignation on May 7, 2009. Although Friedman's purchases of Goldman stock did not violate any Fed rule, statute, or policy, he said that the Fed did not need this distraction. He also stated his purchases, made while approval of a waiver was pending, were motivated by a desire to demonstrate confidence in the company during a time of market distress.[113]
[edit]$60 million settlement for Massachusetts subprime mortgages
On May 10, 2009, the Goldman Sachs Group agreed to pay up to $60 million to end an investigation by the Massachusetts attorney general’s office into whether the firm helped promote unfair home loans in the state. The settlement will be used to reduce the mortgage payments of 714 Massachusetts residents who had secured subprime mortgages funded by Goldman Sachs. Michael DuVally, a spokesman for Goldman, said it was “pleased to have resolved this matter,” and declined to comment further. This settlement may open the door to state government actions against Goldman throughout the United States aimed at securing compensation for predatory mortgage lending practices.[114]
[edit]Abacus mortgage-backed CDOs
According to a 2009 New York Times story by Morgenson and Story, Goldman Sachs created collateralized debt obligations (CDOs), sold them to investors, and then bet short against them. Jonathan M. Egol was named as a 'prime mover' behind the products, called 'Abacus' deals, worth billions. A Goldman worker named Tetsuya Ishikawa was involved in these deals and later wrote a novel called How I Caused the Credit Crunch. Goldman did 25 Abacus deals from 2004–2008. The article claims Goldman tried to pressure Moody's to rate its products higher than they should have been.
The article also claimed that many mortgage backed CDOs (Abacus, and others) sold by Goldman performed very poorly. It uses the example of the Hudson Mezzanine CDO, which Goldman bet against, but also sold to investors. It also claims that various rules regarding CDO-default pay outs were modified to favor short sellers in 2005.
Goldman claimed that it was simply hedging, not expecting the CDOs to fail. It also said that its investors knew it was betting against the products it was selling to them.[115]
Goldman and one of its traders, Fabrice Tourre, were later sued by the SEC over circumstances surrounding one of these CDOs, Abacus 2007-AC1. (See below in this article) In late 2010 Tourre asked for dismissal of the suit against him based on the repercussions of the Morrison v. National Australia Bank Ltd Supreme Court case, claiming his deals were outside the US and thus not subject to certain US laws.[116][117][118]
See also: Merrill Lynch:CDO controversies, Magnetar Capital
[edit]Goldman Sachs Commodity Index and the 2005–2008 Food Bubble
Goldman Sachs' creation of the Goldman Sachs Commodity Index has been implicated by some in the 2007–2008 world food price crisis. In a 2010 article in Harper's magazine, Frederick Kaufman magazine accused Goldman Sachs of profiting while many people went hungry or even starved. He argued that Goldman's creation of the commodity index helped passive investors (pension funds, mutual funds and others) enter the markets, which disturbed the normal relationship between Supply and Demand and price levels. He argues that the result was a 'contango' wheat market on the Chicago Mercantile Exchange, which caused prices of wheat to rise much higher than normal, defeating the purpose of the exchanges (price stabilization) in the first place.[119][120][121]
In a Jun 2010 article in The Economist, the argument is made that Index-tracking funds (of which Goldman Sachs Commodity Index was one) did not cause the bubble. It describes a report by the Organisation for Economic Co-operation and Development that used data from the Commodity Futures Trading Commission to make the case. For example the report points out that even commodities without futures markets also saw price rises during the period.[122]
See also 2000s commodities boom for a discussion on specific causes of the 2000s commodities boom.
[edit]SEC civil fraud lawsuit, filed in April 2010
On April 16, 2010, the Securities and Exchange Commission (SEC) announced that it was suing Goldman Sachs and one of its employees, Fabrice Tourre.[123] The SEC alleged that Goldman materially misstated and omitted facts in disclosure documents for a synthetic CDO product it originated called Abacus 2007-AC1.[123] Goldman was paid a fee of approximately US$15 million for its work in the deal. The allegation is that Goldman misrepresented to investors that an independent selection agent, ACA, had reviewed the mortgage package underlying the credit default obligations, and that Goldman failed to disclose to ACA that a hedge fund, Paulson & Co., that sought to short the package, had helped select underlying mortgages for the package against which it planned to bet.[124] The SEC further alleged that "Tourre also misled ACA into believing that Paulson invested approximately $200 million in the equity of ABACUS 2007-ACI (a long position) and, accordingly, that Paulson's interests in the collateral section [sic] process were aligned with ACA's when in reality Paulson's interests were sharply conflicting."[124] Goldman Sachs stated that the firm never represented to ACA that Paulson was to be a long investor, and that as normal business practice, market makers do not disclose the identities of a buyer to a seller and vice versa.[125]
The complaint states that Paulson made a $1 billion profit from the short investments, while purchasers of the materials lost the same amount. The two main investors who lost money were ABN Amro and IKB Deutsche Industriebank.[124] IKB lost $150,000,000 within months on the purchase.[124] ABN Amro lost $840,909,090.[124] Goldman stated the firm also lost $90 million and did not structure a portfolio that was designed to lose money.[125] After the SEC announced the suit during the April 16, 2010 trading day, Goldman's Sachs's stock fell 13% to close at 160.70 from 184.27 on volume of over 102,000,000 shares (vs. a 52 week average of 13,000,000 shares). The firm's shares lost $10 billion in market value during the trading session.[126] On April 30, 2010, shares tumbled further on news that the Manhattan office of the US Attorney General launched a criminal probe into Goldman Sachs, sending the stock down more than 15 points, or nearly ten percent to $145.[127]
Goldman issued a statement on the same day the suit was filed, saying the SEC's charges were "unfounded in law and fact" and giving specific reasons as to why. The firm stated it had provided extensive disclosure to the long investors in the CDO, that the firm also lost money, that ACA selected the portfolio without the firm suggesting Paulson was to be a long investor, and that ACA was itself the largest purchaser of the Abacus pool, investing $951 million. Goldman also stated that any investor losses resulted from the overall negative performance of the entire sector, rather than from a particular security in the CDO.[125][128][129] Goldman issued an additional public comment in response to the suit on April 19, 2010, raising additional points in their favor.[130] While some have called these statements misleading,[131] others believe Goldman has a strong defense[131][132][133] or that the SEC has a weak case.[134]
Experts on securities law contacted by The Wall Street Journal believe the success or failure of the suit will depend on whether the facts not disclosed by Goldman were material. Some, such as James Cox, a Duke University law professor, believe the suit has merit. Cox opined that Goldman was aware of the relevance of Paulson's involvement and took steps to downplay it. Others, including Wayne State University law professor Peter Henning, note that the major purchasers were sophisticated investors, capable of accurately assessing the risks involved, even without knowledge of the part played by Paulson.[135]
On July 15, 2010, Goldman agreed to pay $550 million – $300 million to the U.S. government and $250 million to investors—in a settlement with the SEC. The company also agreed to change some of its business practices regarding mortgage investments, including the way it designs marketing materials. The SEC called the fine the largest commission penalty for a Wall Street firm. The company did not admit or deny wrongdoing. The settlement does not cover Tourre.[136]
[edit]Levin-Coburn Report
That's when you know you've really made it to the top of the thieving heap: When you've convinced the cops you can't be taken down without the rest of the world collapsing with you.
—Salon.com[137]
On April 14, 2011, the United States Senate’s Permanent Subcommittee on Investigations released a 635-page report entitled, "WALL STREET AND THE FINANCIAL CRISIS: Anatomy of a Financial Collapse" which described some of the causes of the financial crisis. The report alleged that Goldman Sachs may have misled investors and profited from the collapse of the mortgage market at the expense of its clients. [138] Senator Carl Levin (D-Michigan), Chairman of the Subcommittee, said he would refer the report to the Department of Justice for further investigation.[139]
On June 2, 2011, following an "exploratory" meeting with the Manhattan district attorney, Goldman was subpoenaed for relevant information.[140] Goldman is expected to accept a deferred-prosecution agreement if charges are filed.[137]
[edit]List of officers and directors

As of April 23, 2011[141]
Name Nationality Current Position Since Total Annual Compensation Long-Term Incentive Plans All Other Fiscal Year Total Options Value of Options
Lloyd C. Blankfein Chairman of the Board & CEO 2006 $600,000.00 – $235,943.00 $1,113,771.00 837,127 $63,215,422.00
David A. Viniar CFO & Executive Vice President 1999 $600,000.00 – $222,492.00 $1,100,320.00 506,445 $34,942,903.00
Gary D. Cohn President, COO & Director 2006 $600,000.00 – $163,841.00 $3,661,729.00 828,259 $61,033,100.00
John S. Weinberg Vice Chairman 2006 $600,000.00 – $ 79,736.00 $26,002,896.00 430,905 $30,624,806.00
Michael J. Evans Vice Chairman & Chairman of Goldman Sachs, Asia 2008 $600,000.00 – $2,250,850.00 $5,308,735.00 – –
Michael Sherwood Vice Chairman, Co-CEO – International 2008 – – – – – –
Alan Cohen Executive Vice President, Global Head – Compliance 2004 – – – – – –
Gregory Palm Executive Vice President, General Counsel, Co-Head – Legal Department 1999 – – – – – –
Esta Stecher Executive Vice President, General Counsel, Co-Head – Legal Department 2000 – – – – – –
John F.W. Rogers Executive Vice President, Chief of Staff and Secretary to the Board 2001 – – – – – –
Edith W. Cooper Executive Vice President and Global Head of Human Capital Management 2008 – – – – – –
John H. Bryan Director 1999 – – – – – –
Claes Dahlbäck Director 2003 – – – – – –
Stephen Friedman Director 2005 – – – – – –
William W. George Director 2002 – – – – – –
James A. Johnson Director 1999 – – – – – –
Lois D. Juliber Director 2004 – – – – – –
Lakshmi N. Mittal Director 2008 – – – – – –
James J. Schiro Director 2009 – – – – – –
H. Lee Scott,Jr. Director 2010 – – – – – –
[edit]Worldwide Headquarters

Goldman Sachs’ global headquarters is located in New York, its European headquarters in London and its Asian headquarters (ex-Japan) are based in Hong Kong.[142][143] The largest other non-headquarters major offices worldwide are in Tokyo, Bangalore, and Salt Lake City.[144] Salt Lake City is currently Goldman Sachs' fastest growing office worldwide.[145]
[edit]Alumni

Former employees of Goldman Sachs Group, Inc.:
Guy Adami – CNBC's Fast Money
Olusegun Olutoyin Aganga – Nigerian Finance Minister
Sergey Aleynikov – Programmer. Convicted in stealing code and serves 8 years in prison.
Chetan Bhagat – Author
Fischer Black – Co-author of the Black–Scholes equation and the Black–Derman–Toy model
Joshua Bolten – Former White House Chief of Staff
Erin Burnett – CNBC host
Mark Carney – Governor of the Bank of Canada[146][147]
Abby Joseph Cohen – Perma-bull market forecaster formerly of Drexel Burnham Lambert
Michael Cohrs – Head of Global Banking at Deutsche Bank
Jon Corzine – CEO of MF Global, Inc., former Governor of New Jersey (2006–2010)
Jim Cramer – Founder of TheStreet.com, best selling author, and host of Mad Money on CNBC
Emanuel Derman – Co-developer of the Black–Derman–Toy model
Mario Draghi – Governor of the Bank of Italy (2006– )[148]
William C. Dudley – President of the Federal Reserve Bank of New York
Michael D. Fascitelli – President & Trustee of Vornado Realty Trust
Henry H. Fowler – Former United States Secretary of the Treasury (1965–1969)
Charlie Haas – Wrestler, who is working for World Wrestling Entertainment
Guy Hands – CEO of Terra Firma Capital Partners
Reuben Jeffery III – Under Secretary of State for Economic, Business, and Agricultural Affairs (2007– )
Neel Kashkari – Former Assistant Secretary of the Treasury for Financial Stability
Edward Lampert– Hedge Fund Manager of ESL Investments. Brought K-Mart out of Bankruptcy in 2003
R. Scott Morris – Former CEO of Boston Options Exchange
Dambisa Moyo – Zambian economist and author of Dead Aid: Why Aid is Not Working and How There is a Better Way For Africa
Ashwin Navin – President and co-founder of BitTorrent, Inc.
Henry Paulson – Former United States Secretary of the Treasury (2006–2009)
Romano Prodi – Prime Minister of Italy (1996–1998, 2006–2008) and President of the European Commission (1999–2004)[148]
Robert Rubin – Former United States Treasury Secretary, ex-Chairman of Citigroup
Robert Steel – Former Chairman and President, Wachovia
John Thain – Former Chairman and CEO, Merrill Lynch, and former chairman of the NYSE
Massimo Tononi – Italian deputy treasury chief (2006–2008)[148]
Malcolm Turnbull – Australian politician, former federal leader of the Liberal Party of Australia
George Herbert Walker IV – Managing director at Neuberger Berman and member of the Bush family
Robert Zoellick – United States Trade Representative (2001–2005), Deputy Secretary of State (2005–2006), World Bank President

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Raksasa investasi Amerika Serikat Lehman Brothers mengumumkan kebangkrutannya Senin dini hari saat Federal Reserve dan bank global utama melakukan langkah untuk menopang pasar keuangan yang digoncang krisis perumahan dan hipotek.

Dalam sebuah pernyataan yang diumumkan setelah tengah malam, Lehman Brother mengatakan perusahaan itu mengajukan kondisi bangkrut untuk melindungi asetnya dan memaksimalkan nilainya.

Perusahaan keuangan itu menyatakan pengajuan itu telah disahkan oleh dewan direksi dan akan diajukan ke Pengadilan Kebangkrutan AS di New York hari ini.

"Pelanggan Lehman Brothers, termasuk pelanggan anak perusahaannya, Neuberger Berman Holdings LLC, dapat meneruskan perdagangan atau melakukan tindakan lainnya berkenaan dengan akunnya," bunyi pernyataan itu.

Perusahaan yang menguasai Wall Street itu rugi sekitar US$ 3,9 miliar dalam laporan fiskal kuartal ketiganya di tengah pemutihan aset hipotek.

Pengumuman bangkrut itu muncul setelah upaya terakhir untuk mendapatkan pembeli bank investasi bermasalah itu gagal Minggu.

Seorang sumber di bank Inggris Barclays mengatakan bank itu mundur dari negosiasi karena kekhawatiran harus menjamin komitmen perdagangan perusahaan AS berusia 158 tahun itu.

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Ini Dia 10 Skandal Perselingkuhan Selebriti Dunia Terpanas (1)
Nugraha Rodiana - detikhot




Getty Images


Jakarta Hollywood tidak pernah lepas dari skandal perselingkuhan. Mulai dari Brad Pitt hingga Arnold Schwarzenegger pun pernah main serong.

Ini dia 10 skandal terpanas perselingkuhan selebriti dunia versi Zimbio, Kamis (19/5/2011).

1. Arnold Schwarzenegger



Saat ini Arnold Schwarzenegger tengah menjadi pusat perhatian. Setelah memutuskan untuk bercerai dari sang istri, Maria Shriver, Arnold mengakui telah berselingkuh dengan beberapa perempuan. Bahkan, bintang 'Terminator' itu telah memiliki anak dari salah satu pegawainya.

Mantan Gubernur California itu juga sudah mengakui hal tersebut kepada sang istri. Dan, sepertinya hal itu yang menjadi penyebab perceraian Arnold dan Maria.

2. Jesse James



Aktris Sandra Bullock langsung menggugat cerai suaminya, Jesse James ketika mengetahui kalau dirinya diselingkuhi. Bintang 'The Blind Side' itu meninggalkan rumah yang ditempatinya bersama Jesse, di California, Amerika Serikat, 15 Maret 2010.

Ia pergi beberapa hari sebelum In Touch Weekly menerbitkan kabar pengakuan seorang model Michelle McGee. Michelle adalah selingkuhan Jesse.

Sandra dan Jesse berpisah pada Maret 2010 tak lama setelah ia berhasil mengantongi piala Best Actress di Oscar. Jesse ketahuan selingkuh dengan banyak perempuan hanya untuk memenuhi kebutuhan seksnya.

3. Brad Pitt



Brad Pitt pernah mengaku tak pernah berhubungan badan dengan Angelina Jolie sebelum ia bercerai dengan Jennifer Aniston. Namun, hubungan asmara yang berawal dari perselingkuhan itu memang sangat hangat diperbincangkan.

Syuting 'Mr & Mrs Smith' yang dibintangi Angelina Jolie dan Brad Pitt membuat keduanya jatuh cinta. Walau awalnya sempat mengelak, sekarang keduanya sudah bisa dikatakan resmi sebagai pasangan kekasih. Jennifer Aniston hanya bisa gigit jari ketika mengingat kenyataan itu.

4. Hugh Grant



Masih ingat saat Hugh Grant ketangkap basah sedang bercinta dengan seorang pelacur? Itulah yang menjadi salah satu kesalahan Grant sehingga berpisah dari kekasihnya, Elizabeth Hurley.

Padahal, ia dan Hurley sudah hidup bersama selama 13 tahun.

5. Ryan Phillippe



Reese Witherspoon mengajukan gugatan cerai dari Ryan Phillippe, setelah tujuh tahun menikah pada tahun 2006 lalu. Rumor menyebutkan, perceraiannya tersebut karena hubungan gelap Ryan dengan Abbie Cornish.

Meski sudah bercerai sejak 2008 silam, Ryan dan Reese masih menjalin hubungan baik. Mereka sama-sama mengasuh kedua anaknya yaitu Ava (11 tahun) dan Deacon (7 tahun).

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10 Foto Nakal Artis Indonesia yang Menghebohkan (1)
Nugraha Rodiana - detikhot




ist


Jakarta Diabadikan, kata tersebut tampaknya sangat pantas untuk menilai sebuah jepretan foto. Sangat wajar pula jika sebuah pose hanya dijadikan sebagai konsumsi pribadi. Lalu bagaimana jika foto pribadi itu tersebar ke publik?

Dengan teknologi internet tampaknya hal-hal yang bersifat pribadi semakin tergadaikan. Bahkan, hal tersebut menimpa artis-artis Indonesia. Ini dia 10 foto 'nakal' artis yang bikin heboh.

1. Mayangsari


Pada 2009 lalu memang sedang hangat-hangatnya hubungan 'terlarang' antara Mayangsari dan Bambang Trihatmodjo. Sempat tak mengakui terlibat percintaan, namun foto-foto nakal mereka tersebar di internet.

Ada beberapa foto Mayang mengenakan kimono terbuka yang memperlihatkan tubuhnya yang berbalut celana dalam dan bra. Foto tersebut cukup jelas memperlihatkan lekuk tubuh perempuan kelahiran Purwokerto tersebut.

Foto kedua memperlihatkan keakraban pasangan itu. Pria yang mirip Bambang terlihat tersenyum bahagia. Bahkan satu foto lagi dijepret saat keduanya sedang berciuman.

2. Sarah Azhari


Cukup sering Sarah Azhari tertimpa berita tak sedap lewat foto-foto nakalnya. Bahkan kakak kandung Rahma Azhari itu pernah terlibat foto bugil bareng adiknya tersebut ketika mereka mandi.

Sarah merasa terhina. Terlepas dari kesalahan yang pernah dilakukannya, ia pun mempertanyakan mengapa ada orang tega menyebarkan foto-fotonya tersebut.

Bahkan gara-gara foto tersebut, Sarah harus melaporkan pakar telematika, Roy Suryo ke polisi. Roy dilaporkan karena dianggap berbicara soal foto-foto itu tanpa memiliki wewenang hukum yang jelas.

3. Rahma Azhari


Lagi, Rahma Azhari bikin heboh karena foto-foto nakalnya di internet tersebar. Pada 2007 lalu, foto Rahma tampil tanpa sehelai benang pun di dadanya.

Bahkan payudara adik kandung Sarah Azhari tersebut jelas terlihat. Rahma tampak hanya mengenakan celana dalam berwarna hitam saja.

Foto tersebut menjadi salah satu dari sekian foto-foto nakalnya.

4. Bunga Citra Lestari


Pada 2007, foto bugil mirip Bunga Citra Lestari (BCL) sedang di kamar mandi beredar di internet. Dalam foto tersebut BCL tampil tanpa menggunakan sehelai benang pun di tubuhnya. Namun foto tersebut diakuinya hanya editan saja, alias palsu.

Tah hanya itu, pose lainnya pun mulai tersebar ketika dirinya berada di Bali bersama pacar yang kini menjadi suaminya, Ashraf Sinclair. Dalam foto tersebut BCL tampak hanya mengenakan bikini berwarna hijau. BCL dan Ashraf tampak berciuman di pantai.

Foto lainnya memperlihatkan pelantun 'Sunny' itu tanpa menggunakan bra, dan sedang berjemur. Foto tersebut diakuinya sebagai foto-foto milik pribadinya. Namun foto tersebut tersimpan di handphone berkamera miliknya yang hilang.

5. Ratu Felisha


Sepertinya Ratu Felisha senasib dengan Rahma Azhari. Berkali-kali artis yang kini mulai terjun ke dunia tarik suara itu dihebohkan dengan foto-foto nakalnya di internet.

Dalam satu foto yang menghebohkan terlihat bintang 'Buruan Cium Gue' itu sedang dugem. Salah satu temannya tampak menjulurkan lidah di depan payudaranya, juga di pantatnya.

Ia mengakui foto tersebut adalah koleksi pribadinya yang di-upload di situs jejaring Friendster. Foto-foto itu diambil sekitar 2006 di klub Dragon Fly, Jakarta Selatan.

Tak hanya itu, pada 2008 empat pose hot Felli bersama teman perempuannya juga beredar di internet. Felli terlihat mengenakan tank top berwarna kuning dengan rok biru.

Salah satu foto memperlihatkan pose Felli tengah berciuman bibir dengan teman perempuannya yang bertato. Di foto yang lain keduanya berpose menjulurkan lidah masing-masing dalam jarak dekat.

Satu foto lain memperihatkan Felli tengah bermain sedotan dengan teman perempuannya yang berbikini.

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