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...Further twists and turns could follow. McLaren - which is also subject to a related criminal probe in Italy - is expected to appeal the sanctions. "We have never denied that the information from Ferrari was in the personal possession of one of our employees at his home," McLaren chairman and CEO Ron Dennis said in response to the verdict. "The issue is: was this information used by McLaren? This is not the case and has not been proven today." And sanctioning the team, but not the drivers who represent it, has befuddled some inside the industry. "I'm not promoting...
WHEN CONFRONTED WITH SUCH GLOOMY talk, many in the real estate business offer a classic response. "People don't buy real estate on a national basis," says Tom Kunz, CEO of real estate giant Century 21. "They buy it on a local basis." Sure enough, many parts of the country aren't in trouble. Prices are still rising in Seattle and Portland, Ore. In Atlanta, Dallas and Charlotte, N.C., prices never went up all that much, and they're not falling now. The same appears to be true in many smaller cities and towns...
...believe that these efforts...will serve us well as we embark on the CEO hand-off,” he added...
Before taking the reins of HMC, El-Erian had been a managing director at PIMCO, where he was widely expected to succeed William S. Thompson, Jr. as CEO. His position upon his return will be co-Chief Executive Officer and co-Chief Information Officer, seemingly solidifying his status as heir-apparent. In a statement released yesterday, both Thompson and PIMCO CIO William H. Gross said they have no plans to step down. [SEE CORRECTION BELOW...
CORRECTION: The Sept. 12 news article "HMC Chief Steps Down" gave the wrong name for the executive at Pacific Investment Management Company (PIMCO) that Mohamed A. El-Erian, president and CEO of Harvard Management Company, was expected to succeed if he had not come to Harvard. The executive was Bill Gross, founder of PIMCO and manager of the company's bond fund—not William S. Thompson, the company's CEO...