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...probably not entirely of their own volition. The board at B of A has been savagely attacked over the last several weeks because it did not insist on better due diligence in the buyout of Merrill Lynch and for allowing large bonuses to be paid to employees after the firm had taken TARP money...
Motorola (MOT) is another American business iconic brand which is close to the point of extinction. The company's core handset business has been flailing for close to two years. One CEO was fired over a year ago, but now the firm has two CEOs. One of them was to run the handset businesses after it was spun-off from the main company. That process has been delayed and may never happen. Motorola lost $3.6 billion in the fourth quarter of last year. For that quarter, revenue from the company's handset unit dropped by over half Several members...
Reports from overseas claim as many as 3 million direct and indirect Madoff victims worldwide, according to Spanish law firm Cremades & Calvo-Sotelo, which has filed a U.S. lawsuit in the name of some victims. The firm's estimate is based on information collected from 30 law firms around the world representing close to 3,000 people or institutions in 25 nations that have so far taken legal action over the scheme...
...rule guided Holder after he left Queens to become a corruption prosecutor, municipal judge and U.S. Attorney. And it will probably guide him as the nation's 82nd Attorney General. Holder takes over a sprawling, 110,000-person Justice Department that was treated at times like a private law firm by the Bush Administration, both in its novel interpretation of the law and in the way it purged employees who did not share its political views. Returning to the department he helped run in the late 1990s, Holder invited all employees to his grand fifth-floor office to introduce themselves...
...ways, it will determine its economic future as well. The key, Hedegaard insists, will be the world's two biggest carbon emitters, the U.S. and China, each of which essentially sidestepped Kyoto. (Though China ratified the Kyoto Protocol, it wasn't required to do anything.) Hedegaard sees hope for firm carbon targets. In the U.S., Obama has talked green early in his term, added incentives for energy efficiency and renewables to his stimulus plan and supports a domestic carbon cap-and-trade program that experts believe needs to be in place if the U.S. is to take the lead...