Word: firmness
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...think the judge decided to allow Madoff to remain out on bail? Because the conditions already imposed on Madoff are quite stringent. He is on a 24-hour house arrest with an electronic bracelet and round-the-clock monitoring of his building by a security firm. That's as strict as you can get without detention. Also, the terms of the bail in the civil case, not the criminal case, prohibited Madoff from moving assets. Monday's bail hearing pertained to the criminal case...
...Wall Street Journal reports that the Citi board has given CEO Vikram Pandit a vote of confidence. Even if the firm loses tens of billions of dollars this year, Pandit is getting that public support just the way his predecessor Chuck Prince did, right up until...
Last year, pension plans of America's 1,500 largest companies lost more than $400 billion, mainly because of the collapse of the equities market in which the bulk of those plans are invested, according to a new report from Mercer, a financial-consulting firm. Pension plans are also being hit on the other side of the balance sheet, as shrinking yields on Treasury bonds expand the scope of their pension fund liabilities. Taken together, the double dose of bad news means companies will have to pony up as much as $70 billion in pension contributions in 2009 - up from...
Washington is about to get its first official waste watchdog. President-elect Barack Obama recently tapped Nancy Killefer to fill the newly created role of chief performance officer. Killefer, a senior director at management-consulting firm McKinsey & Co., will be in charge of combing through the federal budget to weed out unnecessary programs and streamline government efficiency...
...joined McKinsey & Co. in 1979 and currently heads the firm's public-sector practice, where she develops strategies for improving organizational effectiveness for government clients...