Word: boarding
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...conversation that Ken Lewis, CEO of Bank of America (BAC), says that he had with former Treasury Secretary Henry Paulson. According to information released by NY State Attorney General and governor-in-waiting Andrew Cuomo, Lewis was threatened by Paulson who told him that the entire B of A board would be dumped if the bank backed out of a deal to buy Merrill Lynch. Passing the blame, Paulson claimed he was merely doing the dirty work of Fed chief Ben Bernanke. Bernanke has tried to distance himself from the event. The press has used the story to paint...
...reports about the strong-arming of Lewis is whether it was ethical. It may have been the only approach to take in Paulson and Bernanke's views. The SEC may claim that the action was not legal because Lewis had an obligation to disclose the conversation to both his board and to his shareholders. He was being asked to act against the interests of the bank he runs in the name of the national interest...
...been looking for places to cut. And they have found them. Departments have slashed around 15 percent of costs, Allston development has been significantly delayed, and undergraduate Houses have had to tweak refurbishment plans. Furthermore, the university went ahead with a voluntary early retirement program and an across-the-board hiring and wage freeze...
Shortly after his resignation, Rose said he became increasingly concerned that Harvard may have had ethically questionable ties to Enron, which went bankrupt in late 2001. Herbert S. Winokur ’65 served both on the secretive Harvard Corporation and on Enron’s board of directors, a dual commitment that Rose said he found disconcerting. He also found ethically troubling Harvard’s 49 percent ownership interest in former Enron affiliate Cook Inlet Energy Supply—which he said made substantial profits from the debilitating California energy crisis...
...Newsom's wine shop eventually sprouted 15 separate businesses and made him a millionaire. In 1996, then Mayor Willie Brown appointed Newsom to the city's parking and traffic commission and later the board of supervisors. Newsom ran for mayor in 2003, narrowly beating out a Green Party candidate in a runoff. (Newsom was re-elected in 2007 with 73% of the vote...