That had not happened since 1939-41, according to Lehman Brothers.

Lehman Brothers now contends the land is worth $23 million.

Lehman Brothers said it earned $481 million, or $1.71 a share, up 157 percent from the period a year earlier.

Lehman Brothers won the remaining $225 million of bonds due in 2024.

Lehman Brothers is also said to be in talks to acquire a piece of a major fund.

Lehman Brothers, which eventually signed off on the deal, did not return phone calls seeking comment.

"Lehman Brothers is asking somewhere in the neighborhood of $25 million," he said.

Lehman Brothers provided a $136.8 million to finance the purchase of the property.

Lehman Brothers acted as lead manager for the negotiated issue.

Lehman Brothers now estimates car production at 15.8 million units this year, down 4 percent from 2002.