Word: ceo
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...promises of an ethical housecleaning," the New York Times editorialized in September. Earlier this week, after the paper published even more serious allegations, Rangel wrote a scathing letter to the editor denying that he had done anything improper with regard to the loophole that rewarded Nabors Industries and its CEO, Eugene Isenberg, who had given the $1 million donation to CCNY. He also contended that New York Times reporter David Kocieniewski had ignored the facts of the matter "to promote his agenda - is irresponsible and should not be tolerated by any paper, especially The New York Times." On its website...
...efforts to attract deposits - is also squeezing banks' profit margins, further straining an already weak industry and stressing smaller banks, many of which didn't go hog wild making risky loans in the first place. "Higher rates are a short-term fix," says Camden Fine, president and CEO of the Independent Community Bankers of America. "Eventually, you feel the aftereffects...
...their net interest margin - a measure of profit - fall in the third quarter compared with a year ago, according to the Federal Deposit Insurance Corporation. "After you pay your stockholders and employees, maintain your capital ratio and fund your growth, it gets pretty tight," says Mike Menzies, president and CEO of Easton Bank & Trust in Easton, Md. (See pictures of the recession...
...rates are finding they have to keep up. "People who bank with us aren't going to bank with us because we're the highest rate on the street, but if we're too much under the market, at some point they'll leave," says Steve Andrews, president and CEO of the Bank of Alameda. The San Francisco Bay Area bank has been forced to keep rates artificially high, Andrews says, as one flailing competitor after another - IndyMac, Washington Mutual, Downey Savings & Loan - has pushed up rates in an attempt to attract deposits and stave off insolvency. "It's frustrating...
...banks' margins are squeezed, there's one other looming consequence: higher fees. "They've got to do something to remain profitable," says Rick Barham, CEO of Market Rates Insight, which tracks pricing trends for financial institutions. His firm is being flooded with requests for fee studies - competitive overviews of how much other banks are getting away with charging customers for things like bounced checks. Many banks are moving to a tiered fee structure. The first time you overdraw your account, you might be charged $28, but do it again and the penalty becomes...