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...Bank of America employees say Moynihan has been been able to lift morale at the bank, which was battered by the financial crisis. After Bank of America struck a deal to buy Merrill Lynch in late 2008, many of Merrill's employees fled. Now some are coming back. Recently, two top Merrill veterans Todd Kaplan and Sam Chapin rejoined the firm. "When I left it was chaotic around here," says Kaplan, an executive vice chairman at Merrill. "Now the place feels like Merrill did in the 1990s. There's none of the infighting. It's terrific...
When it comes to employees, Wall Street is saying, "Buy, Buy, Buy," again...
...civic order. Unlike many other American citizens who identify themselves as "patriots" -- an amorphous, far-right populist movement of both armed militias and unarmed groups that harbor a deep distrust of government -- Miller does not spend her weekends running around in camouflage, shooting at imagined enemies. Nor does she buy into every conspiracy theory that crackles along the patriot grapevine, like last week's alert that the Oklahoma catastrophe-which "patriots" suspect involved three bombs, not one-was a government plot to enable President Clinton to proclaim martial law and divert attention from forthcoming hearings on the Whitewater financial scandal...
When Alexander Lebedev, the new Russian owner of Britain's Independent newspaper, visited the offices of the rival Guardian last year, he was asked why he wanted to buy a struggling paper. The Independent sells only around 100,000 copies in the U.K. on a typical weekday, trailing London's four other quality dailies - the Daily Telegraph, Rupert Murdoch's Times of London, the Financial Times and the Guardian - and consistently loses about $15 million a year. Lebedev, whose first experience in London was as a KGB agent in the 1980s, offered a characteristically enigmatic response: "Well, either...
Curran also worries about how this round of loan-principal reductions will play out among investors who buy mortgage securities and whether they may be reluctant to buy new mortgage loans if there's a chance the principal will wind up being reduced down the line. "The returns would have to rise to incorporate this risk," says Curran. "Either they'll have to be compensated or they won't participate." (See the best business deals...