Word: banke
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...year ban on new-drug marketing could hurt the bottom line of drug companies. But it wouldn't be devastating. "I don't think it will have a particularly big impact," says Eric Schmidt, equity analyst at Cowen and Co., an investment bank. "The companies have already started scaling back their marketing budgets, and they've tended to direct advertising into more established brands." According to Jon Swallen, a research analyst at TNS Media Intelligence, pharmaceutical companies spent about $4.7 billion in magazine and television advertising in 2008, a 10.7% drop from 2007. And only about...
...tiered program, with extra restrictions applied to basket cases like AIG, Citigroup and Bank of America, all of which tapped the federal till for hundreds of billions of dollars to recapitalize their broken balance sheets. In addition to the cash limit, the "maximum wage" plan allows companies to reward "senior management" - a complement of no fixed definition - with restricted stock, but it can only be cashed in after the government is paid back. There are also prohibitions against golden parachutes as well as a clawback provision - the company may reclaim that stock if its results subsequently tank - that can extend...
...that want government money, there's a golden-parachute limit of a year's compensation. The $500,000 pay and restricted-stock limits still apply, but shareholders (not a friendly constituency these days) can waive them in a nonbinding advisory vote, and management can act accordingly. (Read "Why Your Bank Is Broke...
...maximum-wage plan is not retroactive, applying only to companies that tap TARP in the future. The restrictions will apply until a bank pays off its TARP tab and starts behaving. According to an Administration source, "If a bank has restored viability, has paid back the United States government with interest, and is now a completely private-sector bank ... then we can return to a time when this is between them and their shareholders...
...Though Israel’s settlement policy was wrong and short-sighted, it was nothing like the rapacious image Kennedy projects. Israel did not “take over” Palestinian water; in fact, it pumps water from Israel into Palestinian homes in both Gaza and the West Bank. And Israel did not “exploit” and “starve” the Palestinian economy. In fact, the Palestinian economy boomed under occupation for 20 years until the first intifada...