Word: ceo
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...Political influence is by no means a new story at the housing agencies, but nonetheless one that is currently having a material influence on the people tasked with steering them back to financial health. When Freddie Mac's CEO resigned in March, press reports pegged part of the cause to his frustration over how all major decisions had to be run past regulators and how those decisions were often dictated by policy goals and not what was best for the company. Freddie Mac executives have estimated that this year it will cost the firm $30 billion to carry...
...Silver Spring Networks - the Miami smart-grid program will be by far the largest in the U.S. If it succeeds, FPL plans to invest another $500 million to roll out the service to all of its 4.5 million customers. "This is not a science-fair project," says Jeffrey Immelt, CEO of GE, which will be providing smart meters for the initiative. "This is commercial technology that shows the smart grid is real." (Read "How Vulnerable Is the Power Grid...
...after the fact. An analyst from Goldman Sachs wrote that the big bank's credit losses are growing at a "rapid rate," meaning the shares remain a "sell." When Bank of America (BAC) released quarterly numbers that were so good that many believed they would save the job of CEO Ken Lewis, JP Morgan responded by releasing an analysis that said banks are likely to realize about $400 billion more in losses on soured assets, requiring further injections of government capital, according to Bloomberg. (See pictures of the Top 10 scared traders...
...also expensive, costing more than $20,000 even with the subsidy, a stiff price in a country where the annual average income is less than $10,000. That's part of the reason that BYD, since introducing a hybrid electric in December, has sold just 80 of them. CEO Wang Chuanfu expects that BYD will lower the price to about $16,000 as the company scales up production. BYD also makes small gasoline-powered cars and is having no trouble selling them. In March alone, 20,000 units of the most popular model, the F5, were sold...
...Raymond W. McDaniel, Jr., chairman and CEO of Moody’s Corporation, proclaimed, “I firmly believe that Moody’s business stands on the ‘right side of history’ in terms of the alignment of our role and function with advancements in global capital markets.” Editorialists, pundits, and lawmakers alike have scrutinized this sentiment over the past year, debating the role that credit-rating agencies played in the subprime crisis. Instead of the blame game it used to be, this debate has recently become a more fruitful discussion...