Word: ceos
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...past week has been an incredibly difficult time for Bear Stearns. This transaction represents the best outcome for all of our constituencies.' ALAN SCHWARTZ, president and ceo of Bear Stearns, which, as part of a federal bailout, was acquired by rival JPMorgan Chase for $236.2 million - a meager $2 per share...
James Cayne Traders like Bear Stearns, led by ex-CEO Cayne, loaded their balance sheets with assets of untested value. When forced to calculate true worth, writedowns followed. Wary firms stopped lending to each other, causing a liquidity crunch...
Angelo Mozilo Enabling home ownership seems so noble--until lending standards surrender to greed. Under CEO Mozilo, marquee mortgage shop Countrywide helped legitimize the flood of subprime, teaser-rate and no-income-verification loans...
...August. The new owner has been quick to make its mark: earlier this year EMI announced it was axing as many as 2,000 jobs in a bid to pare costs by $400 million a year. But the overhaul is not just a matter of numbers, says Guy Hands, ceo of Terra Firma and chairman of EMI: "What we are saying to artists is: The current model is broken. Unless we find a new model, new music is dead...
...this week or early next week. But some worry that Japan has already lost a lot of international credibility by leaving the position vacant. "The key take-away from all this is that Japan does not deserve to be part of the G7 anymore," says Jesper Koll, president and CEO of Tantallon Research Japan, which is part of a Singapore-based hedge fund. "As the world of global finance faces its biggest challenge in over a generation, the world needs leadership. Instead, Japan is offering nothing but petty politics...