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...world's second biggest foodmaker unleashed a hostile bid for the British confectioner on Monday, offering $16.3 billion in cash and shares under the same terms as a friendly approach that was rejected by Cadbury in September. Absent any sweetener, Cadbury's board "emphatically rejected this derisory offer," chairman Roger Carr fired back in a statement. The bid, he said, "does not come remotely close to reflecting the true value of our company." (See nine kid foods to avoid...
...good for all of us. "We contribute to growth," CEO Lloyd Blankfein said at a breakfast put on by FORTUNE. "Once the economy starts to turn, we get very involved." In a discussion about morality and markets at St. Paul's Cathedral in London, Goldman Sachs International vice chairman Brian Griffiths, a former adviser to Margaret Thatcher, described giant paychecks for bankers as an economic necessity. "We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all," he said...
...That doesn't mean the process is any less messy. There are three versions of financial reform in play. The Administration unveiled its plan in mid-June. Barney Frank, chairman of the House Financial Services Committee, will bring his recently unveiled version to markup in committee as early as this week. Frank and the Administration, represented by Treasury Secretary Timothy Geithner, spent weeks in negotiation, and Frank's bill closely tracks the Administration proposal...
...Chris Dodd, chairman of the Senate Banking Committee, will unveil the third version of financial reform as early as Tuesday. Dodd, who faces a tough re-election battle in Connecticut in 2010, told his staff that the proposal put forward by the Administration didn't take into account the possibilities opened up by the enormous financial crisis of the past year. For political or policy reasons - or both - his bill is more aggressive on federal-oversight authority on a number of potentially controversial issues. "We should push for the biggest changes we can get," says Dodd spokeswoman Kirstin Brost...
Former CIA station chiefs say that's as it should be. "Directors of the CIA may come and go, DNIs may come and go, but the continuity of relationships with foreign partners is critical," says Robert Grenier, who was station chief in Islamabad in 2001 and is now chairman of the advisory firm ERG Partners. "The CIA has managed these relationships for decades...