Word: bancorp
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...after considering and rejecting other black females with stronger ties to the University—including Deborah C. Wright ’79, president of Carver Bancorp, and Ann M. Fudge ’77, chief executive of Young & Rubicam—the committee broadened its search to include King, according to the source...
...leading candidate for the open seat is said to be Deborah C. Wright ’79, president and chief executive officer of Carver Bancorp, the $595 million banking company in New York. She joined the Board of Overseers, Harvard’s larger and far less powerful advisory group, in 2001 and is now one of four African Americans on the 30-member board...
There was less ambiguity in the $2.8 billion merger offer made to limping BankAmerica (assets: $117 billion), headed by President and Chief Executive Officer Samuel Armacost, 47. The proposal from Joseph Pinola, 61, chairman of California's First Interstate Bancorp (No. 9 in the U.S., with assets of $50 billion), was to forge a firm that would rival Citicorp ($176 billion) as the country's No.1 banking institution. Late last week, as BankAmerica board members considered Pinola's offer, Armacost abruptly resigned. The reason, as he put it, was "to help restore confidence in this organization's capabilities and future...
...10year TIPS break even with the standard Treasury. Many money managers doubt that inflation, which currently sits at 2.3%, will get that high in the near term. "I would look for a better entry point," says Wan-Chong Kung, who helps manage $10 billion in bond funds at U.S. Bancorp Asset Management. She recommends that tactical investors wait for prices to come down and for the yield spread between 10-year TIPS and Treasuries to narrow...
This year Google will make an estimated 30% profit on revenue approaching $1 billion, according to Safa Rashtchy, an analyst at U.S. Bancorp Piper Jaffray. Right now 32% of all Web searches go through google.com That number shoots to around 70% when you count searches on sites like AOL.com which licenses Google's technology. Meanwhile, in the real world, Google has just finished moving its 1,300 employees into new headquarters in Mountain View, Calif., previously the offices of former Silicon Valley golden boy (and current Silicon Valley crater) Silicon Graphics. Early next year Google is expected to offer stock...