SEC Floats Proxy-Access Proposal
May 21, 2009
The Securities and Exchange Commission voted yesterday to seek public comment on a proposal that would allow investors owning 1 percent of the biggest companies to nominate directors on proxy statements.
May 21, 2009
The Securities and Exchange Commission voted yesterday to seek public comment on a proposal that would allow investors owning 1 percent of the biggest companies to nominate directors on proxy statements.
Lehman Criminal Investigation Continues
May 21, 2009 by Joseph McCafferty
Several former Lehman Brothers executives are being questioned by the Justice Department as part of its criminal investigation into whether Lehman employees defrauded customers when they sold liquid securities to clients.
May 21, 2009 by Joseph McCafferty
Several former Lehman Brothers executives are being questioned by the Justice Department as part of its criminal investigation into whether Lehman employees defrauded customers when they sold liquid securities to clients.
Schumer Introduces Governance Legislation
May 21, 2009
Senator Charles Schumer has introduced sweeping legislation that, if enacted, would significantly change how corporate boards are elected and operated.
May 21, 2009
Senator Charles Schumer has introduced sweeping legislation that, if enacted, would significantly change how corporate boards are elected and operated.
GMAC May Receive $7 Billion from Treasury
May 21, 2009 by Joseph McCafferty
The Treasury Department is prepared to use $7 billion in bailout funds for GMAC, the General Motors Finance arm, in the first installment of a new government aid package that could total up to $14 billion.
May 21, 2009 by Joseph McCafferty
The Treasury Department is prepared to use $7 billion in bailout funds for GMAC, the General Motors Finance arm, in the first installment of a new government aid package that could total up to $14 billion.
U.S. May Add New Financial Watchdog
May 21, 2009 by Joseph McCafferty
The Obama administration continues to discuss the creation of a new federal watchdog agency to oversee various financial products that could include mortgages, credit cards, and mutual funds.
May 21, 2009 by Joseph McCafferty
The Obama administration continues to discuss the creation of a new federal watchdog agency to oversee various financial products that could include mortgages, credit cards, and mutual funds.
Geithner Says No to Limits on Pay
May 19, 2009
Treasury Secretary Timothy F. Geithner said yesterday that the federal government should not set a ceiling on executive pay and instead should seek to ensure that compensation packages do not encourage excessive risk taking.
May 19, 2009
Treasury Secretary Timothy F. Geithner said yesterday that the federal government should not set a ceiling on executive pay and instead should seek to ensure that compensation packages do not encourage excessive risk taking.
CEOs Shocked at Borrowing Costs
May 15, 2009
Stunned by the exorbitant inflation-adjusted borrowing costs not seen since the 1980s, customers of Airgas are reducing purchases of industrial gases such as nitrogen and acetylene because of rising real interest rates.
May 15, 2009
Stunned by the exorbitant inflation-adjusted borrowing costs not seen since the 1980s, customers of Airgas are reducing purchases of industrial gases such as nitrogen and acetylene because of rising real interest rates.
Carlyle Reaches Pension Fund Deal
May 15, 2009 by Joseph McCafferty
Private equity firm Carlyle has reached a deal with the New York attorney general to change how the firm conducts its business with public pension funds, in a decision that will likely change the industry as a whole.
May 15, 2009 by Joseph McCafferty
Private equity firm Carlyle has reached a deal with the New York attorney general to change how the firm conducts its business with public pension funds, in a decision that will likely change the industry as a whole.
Starr Calls PCAOB An ‘Obstacle’ for Obama
May 14, 2009 by Joseph McCafferty
Lawyer and former federal appeals court Judge Kenneth Starr, counsel to a group seeking the Supreme Court's review of a case that challenges the constitutionality of the the Public Company Accounting Oversight Board (PCAOB), is now calling the agency an “obstacle to President Obama’s success.”
May 14, 2009 by Joseph McCafferty
Lawyer and former federal appeals court Judge Kenneth Starr, counsel to a group seeking the Supreme Court's review of a case that challenges the constitutionality of the the Public Company Accounting Oversight Board (PCAOB), is now calling the agency an “obstacle to President Obama’s success.”
Levitt: U.S. Regulation of Bank Pay ‘Overkill’
May 14, 2009
Former Securities and Exchange Commission Chairman Arthur Levitt warned the Obama administration against attempting to overhaul the way executives at financial firms are compensated.
May 14, 2009
Former Securities and Exchange Commission Chairman Arthur Levitt warned the Obama administration against attempting to overhaul the way executives at financial firms are compensated.
Congress Takes AIG’s Liddy to Task
May 14, 2009 by Joseph McCafferty
U.S. lawmakers yesterday reprimanded AIG CEO Edward Liddy for not being more forthcoming about the insurance company's long-term plans to pay back American taxpayer funds.
May 14, 2009 by Joseph McCafferty
U.S. lawmakers yesterday reprimanded AIG CEO Edward Liddy for not being more forthcoming about the insurance company's long-term plans to pay back American taxpayer funds.
Greenspan: Housing on Verge of Recovery
May 13, 2009
U.S. stocks undid an earlier drop as former Federal Reserve Chairman Alan Greenspan said the housing market may be on the verge of recovery and financial markets should continue improving.
May 13, 2009
U.S. stocks undid an earlier drop as former Federal Reserve Chairman Alan Greenspan said the housing market may be on the verge of recovery and financial markets should continue improving.
Lipton Fights Schumer Shareholder Bill
May 13, 2009 by Joseph McCafferty
A trio of legal experts has come out against a to-be-introduced shareholder rights bill authored by Senator Charles Schumer (D-NY).
May 13, 2009 by Joseph McCafferty
A trio of legal experts has come out against a to-be-introduced shareholder rights bill authored by Senator Charles Schumer (D-NY).
Liddy to Testify to Oversight Committee
May 12, 2009
AIG CEO Edward Liddy plans to testify to a U.S. House oversight committee Wednesday to discuss the future of the insurance company and defend it and its employees from recent criticism.
May 12, 2009
AIG CEO Edward Liddy plans to testify to a U.S. House oversight committee Wednesday to discuss the future of the insurance company and defend it and its employees from recent criticism.
Bernanke Defends Stress Tests, Dollar
May 12, 2009
Federal Reserve Chairman Ben Bernanke said the stress tests performed on 19 major banks already appear to be helping banks gain access to private capital, at the Federal Reserve Bank of Atlanta 2009 Financial Markets Conference in Jekyll Island, Georgia.
May 12, 2009
Federal Reserve Chairman Ben Bernanke said the stress tests performed on 19 major banks already appear to be helping banks gain access to private capital, at the Federal Reserve Bank of Atlanta 2009 Financial Markets Conference in Jekyll Island, Georgia.
Antitrust Rules Will Strengthen
May 11, 2009 by Joseph McCafferty
President Obama’s top antitrust official this week plans to restore an aggressive enforcement policy against corporations that use their market dominance to force out the competition.
May 11, 2009 by Joseph McCafferty
President Obama’s top antitrust official this week plans to restore an aggressive enforcement policy against corporations that use their market dominance to force out the competition.
N.Y. Federal Reserve Bank Chair Resigns
May 8, 2009
The chairman of the New York branch of the Federal Reserve Bank handed in his resignation yesterday, citing media scrutiny over his dual roles as chairman and director for Goldman Sachs.
May 8, 2009
The chairman of the New York branch of the Federal Reserve Bank handed in his resignation yesterday, citing media scrutiny over his dual roles as chairman and director for Goldman Sachs.
FDIC Chairman Questions ‘Too Big to Fail’
May 7, 2009 by Joseph McCafferty
The chairman of the Federal Deposit Insurance Corporation questioned yesterday the assumptions of several of the major financial pillars on which the current U.S. economy is poised, including the potential receivership status of large financial companies.
May 7, 2009 by Joseph McCafferty
The chairman of the Federal Deposit Insurance Corporation questioned yesterday the assumptions of several of the major financial pillars on which the current U.S. economy is poised, including the potential receivership status of large financial companies.
JPMorgan CEO Predicts More Consolidation
May 5, 2009 by Joseph McCafferty
Though the big mergers may have already come and gone, the CEO of JPMorgan Chase foresees one or two more big bank consolidations before the recession is through.
May 5, 2009 by Joseph McCafferty
Though the big mergers may have already come and gone, the CEO of JPMorgan Chase foresees one or two more big bank consolidations before the recession is through.
Boards at Apple, Google Under Scrutiny
May 5, 2009 by Joseph McCafferty
The Federal Trade Commission has begun an inquiry into whether the close ties between the boards of Apple and Google violate antitrust laws.
May 5, 2009 by Joseph McCafferty
The Federal Trade Commission has begun an inquiry into whether the close ties between the boards of Apple and Google violate antitrust laws.