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May 17, 2012
17:44 // 1 year ago
May 15, 2012
reuters:

Shareholders in JPMorgan Chase & Co on Tuesday rejected a proposal calling on the company to split the roles of chairman and chief executive, a victory for incumbent Jamie Dimon.
The proposal received some 40.1 percent of votes cast in favor, the company said at the end of its annual meeting.
DEVELOPING: JPMorgan shareholders reject chairman/CEO split

This guy hasn’t had a good week.

reuters:

Shareholders in JPMorgan Chase & Co on Tuesday rejected a proposal calling on the company to split the roles of chairman and chief executive, a victory for incumbent Jamie Dimon.

The proposal received some 40.1 percent of votes cast in favor, the company said at the end of its annual meeting.

DEVELOPING: JPMorgan shareholders reject chairman/CEO split

This guy hasn’t had a good week.

11:48 // 1 year ago
May 9, 2012

Troubled mortgage firm Freddie Mac ends hunt for new CEO

Freddie Mac’s pick? Former E*Trade head Donald Layton: Layton, a former JPMorgan Chase exec who led a turnaround at E*Trade Financial at the peak of the financial crisis, would become the company’s third CEO in the last four years. Considered the front-runner for over a month, sources close to Layton say he plans to accept the nomination, and sees doing so as a “public service.” He’s got his work cut out for him, as the government-controlled company, along with sister company Fannie Mae, has pulled in over $170 billion in bailout money since 2008. The announcement of Layton’s hiring is expected as early as Thursday. source

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13:33 // 1 year ago
May 7, 2012
If Comcast is violating the administration’s orders, it should face significant penalties so consumers know they can count on the administration to protect it from anticompetitive conduct.
Senator Al Franken • In a statement, after sending a letter to the FCC and Department of Justice, requesting an investigation of possible violations of the conditions that Comcast agreed to when the company merged with NBC last year. “When the Obama administration signed off on Comcast’s merger with NBC Universal, it laid out a set of rules to prevent Comcast from squashing its competitors,” added Franken. Comcast has denied allegations of wrongdoing, saying that its On Demand service is subject to cable rules, but not internet regulations. source (viafollow)
17:03 // 1 year ago

Oprah’s slow-growing cable network losing boatloads of money

  • $330 million lost since OWN launched in 2008 source

» Things are looking up though, according to a new report from the Wall Street Journal. Analysts point to a recent uptick in ratings, now that Oprah is appearing on the network more frequently, as a sign that the network may not be dead in the water. The network is also set to receive millions of dollars in new revenue from cable operators. So, do you think it’ll last?

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16:38 // 1 year ago

producermatthew:

Flip Socialism: Even before the allegations of rape against former IMF boss Dominique Strauss-Kahn, Francois Hollande was moving himself in to become the next Socialist presidential candidate, according to one French commentator. “Some say that he knew, like actually many others in the part, that DSK was doomed: His colorful private life was always bound to prevent his running for president,” journalist Agnes Poirier said. [Photos: Reuters]

CNN: How Dominique Strauss-Kahn’s fall led to Hollande’s rise

In which a tabloid-headline-generating scandal in a hotel room an ocean away from France sealed the fate of an election.

11:42 // 1 year ago
May 3, 2012
19:18 // 1 year ago
May 2, 2012

Wal-Mart hit with almost $500,000 in fines after losing overtime suit

  • $4.8 million in unpaid overtime to be paid by Wal-Mart source

» The ruling follows a probe by the U.S. Department of Labor, during which investigators determined that Wal-Mart unfairly exempted approximately 3,700 employees from receiving overtime. All of the employees come from two departments, with 1,700 set to receive an average of $290 a piece, and the remaining 2,000 or so receiving approximately $2,300 a piece.

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15:41 // 1 year ago
Former Secretary of Defense Robert Gates is Starbucks’ newest barista!
We jest. Today, Starbucks announced that Gates joined the company’s board, and will serve on its nominating and corporate governance committee. Gates was appointed Secretary of Defense by George W. Bush in 2006, and retired in 2011 after just under three years with the Obama Administration. Prior to joining the Starbucks board, Gates was acting as chancellor for the College of William & Mary, his alma mater. (SFB illustration) source
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We jest. Today, Starbucks announced that Gates joined the company’s board, and will serve on its nominating and corporate governance committee. Gates was appointed Secretary of Defense by George W. Bush in 2006, and retired in 2011 after just under three years with the Obama Administration. Prior to joining the Starbucks board, Gates was acting as chancellor for the College of William & Mary, his alma mater. (SFB illustration) source

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15:12 // 1 year ago
April 30, 2012

See, thousands of new jobs! Thanks Amazon and Chrysler

  • 2,500 jobs will be created by Amazon, as part of a tax settlement with the state of Texas; Amazon will also invest at least $200 million in the state
  • 1,100 jobs will be created by Chrysler as the company ramps up production of its ultra-popular Jeep Grand Cherokee line of SUVs  source
18:45 // 1 year ago