Word: ceos
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Joseph served as CEO of Drexel Burnham Lambert Inc. from 1985 until the firm’s collapse in 1990. Before scandal struck, Drexel profited in the 1980s from selling junk bonds, but then Michael R. Milken, a trader under Joseph’s supervision, was imprisoned for 22 months and fined $600 million for violating U.S. securities law, according to Bloomberg News. While Joseph faced no criminal charges, he was banned for a time from assuming another position as a Wall Street CEO, according to Portfolio.com’s “Worst American CEOs of All Time?...
LLOYD BLANKFEIN, Goldman Sachs' chief executive, speaking during a conference at which he was named CEO of the Year...
...CEO Neil Munn says the denizens of Madison Avenue and Soho aren't competing with clients, they're creating products that their market research indicated consumers wanted but couldn't buy. For example, Zag started Dogside, a line of high-fashion dog accessories (with Bella, the labradoodle of supermodel Elle MacPherson, enlisted as its face), because it determined there were no dominant brands in that sector. Some agencies began creating brands before the recession, but the trend has picked up steam as a severe ad slump has forced them to explore alternatives to the traditional fee-based business model...
...which are outsourced, but neither did it have a handle on them. "We have always policed offers for content," says Pincus. "But there's thousands of offers and hundreds of new ones every week." Facebook and MySpace tightened their guidelines after getting complaints. Then a tech blogger confronted the CEO of a company that creates offers. She answered his accusations unwisely ("S___, double s___ and bulls___"), and it blew up online. Also on the Internet: footage of Pincus speaking at a University of California, Berkeley, event about how he funded his start-up. "I did every horrible thing...
...mend. Last holiday season, retailers cut prices so deeply that profits disappeared. Then, for much of the year, shoppers cut back too. "I don't think anyone had ever lived through that big a swing in consumption in such a rapid period of time," says Stephen Sadove, CEO of Saks Inc. This year, savings are up and credit-card use is down, which is good--sort of. Yet keep in mind that the Pilgrims were barely eking out a living, surviving in squalor. They had no access to credit. Thrift is a great virtue, but a little mindless spending this...