Mike Nierenberg started out his career at Lehman brothers for quite a few reasons. Mike Nierenberg probably saw the way that Lehman Brothers had progressed over the course of the many years it has stayed in business and realized that there was much that he, Mike Nierenberg would be able to learn from a firm with such significant past history.
He was right, Mike Nierenberg, was able to learn a lot from starting his career at Lehman Brothers. Mike Nierenberg chose wisely because of the fact that Lehman brothers had been around since 1850, was a well organized institution, and certainly lasted through many different trials.
Let us learn a little bit more about the firm that Mike Nierenberg started his career with in a little more detail.
The Story of Mike Nierenberg’s First Place of Financial Field Employment
Started by immigrants, Lehman Brothers started out in a singular fashion. It was first a dry-goods store, it then became something much more. Helmed by three brothers with the last name of Lehman, the store became successful because of some significant insight by the brothers.
The store was started in the 1840’s and by the time the 1850’s rolled around cotton proved itself to be a significant cash crop. The brothers went ahead and saw an opportunity, instead of accepting currency for the goods they provided, they would accept cotton as a form a payment.
Their financial aptitude was already starting to show and they would now be able to branch out and diversify their business, their staple and foundation would be their store but now they would be able to have a trading component. Yes, that’s right, they would start to trade, in the high value product that was cotton.
It is no wonder why Mike Nierenberg was attracted to this firm, it had a compelling past.