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Before Travelers, Weill had built a small New York brokerage firm into the second biggest in the land, Shearson Loeb Rhoades, which he sold to American Express in 1981. Boxed in at Amex, he quit and later started over with Commercial Credit, a Baltimore consumer-finance company. To that he added Smith Barney, his old firm Shearson, Salomon Brothers and Travelers insurance...
...holding almost $135 billion in securities for which there are no observable market prices--meaning that their valuation is determined by guesstimation--and is involved with another $167 billion in off-the-books CDOs and special investment vehicles. The normally mild-mannered stock and credit analysts who follow the firm reacted with downgrades and criticism--their main complaint being that Citi had been so slow in fessing up to problems that they fear more to come...
...biggest obstacle remains Mbeki. When Zuma's financial adviser was convicted of corruption related to defense contracts in 2005, Mbeki sacked Zuma as Deputy President. And this year Mbeki has actively campaigned against Zuma. When a top party leader behaves like a "rascal," he told Parliament, "I can stand firm ... and say, 'This one cannot lead.'" But Mbeki's own leadership has been called into question in recent months. In August he was widely condemned for dismissing the highly regarded Deputy Health Minister Nozizwe Madlala-Routledge after she disagreed with her boss, Health Minister Manto Tshabalala-Msimang--an Mbeki ally...
...filed the suit last week in Suffolk Superior Court, also naming Los Angeles-based architecture firm Gehry Partners and the construction company that built the complex in the lawsuit...
...news article "Patrick Signs Divestment Bill" incorrectly implied that Harvard maintains direct holdings in oil company Petronas. In fact, the University's holdings in Petronas are indirect. In addition, the story misrepresented Petronas and oil firm Schlumberger's ties to Sudan. The companies are accused of financing the genocide by continuing to conduct business with the Sudanese government...