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...Monday, the bank agreed to pay $33 million to settle Securities and Exchange Commission charges that Lewis and other executives misled the bank's investors prior to its $50 billion purchase last year of brokerage firm Merrill Lynch. In a separate development on Monday, the bank also announced that it had hired Sallie Krawcheck, a former top Citigroup executive, to run the Merrill Lynch brokerage division as part of a management shake-up. Observers say the move frees up Brian Moynihan, who had been in charge of Merrill's divisions and has long been thought to be Lewis' successor...
...alone. While regular beer sales are slumping in Western Europe - down almost 2% between 2003 and 2008 - nonalcoholic beer is quickly gaining popularity. According to research firm Euromonitor International, Europeans drank more than 138 million gallons (525 million liters) of the stuff in 2008. That's just a drop in Europe's 15 billion-gallon (56 billion liter) beer market, but it's growing fast. In the five years to 2008, sales in Europe climbed 50%, and are now worth $2.5 billion a year. And it's not just Europeans who are guzzling nonalcoholic beer - defined as containing less than...
...getting critical international assistance in large part because of Johnson Sirleaf's reputation for incorruptibility. "President [Johnson] Sirleaf has worked tirelessly and with integrity to begin the difficult reconstruction of Liberia, which is fortunate to have her strong leadership," says Joseph C. Bell, a partner with the Washington law firm Hogan & Hartson who played a key role in ISLP's assistance to Liberia. ISLP has been involved in a dozen projects there--including drafting palm-oil concessions and upgrading the shipping industry's legal regime--which is making all contracts public, though not all are easily accessible. Imperfect as that...
...states carry out these cutbacks, many park officials have started investigating long-term strategies to find more reliable sources of funding. Margaret Bailey, senior vice president at CHM Government Services, a consulting firm in Beverly, Mass., says parks are trying to move away from operating with money in their states' general-fund accounts. These catchall coffers have historically financed public spaces but in recent years have been decimated by legislatures redirecting much needed cash to fill other lines in their budgets. Of the seven state-park systems that are not tethered to general funds, Oregon finances its parks with money...
...seeking to clarify the law, Michael Smythe, head of public policy at law firm Clifford Chance LLP in London, anticipates that the Director of Public Prosecutions will define what kinds of people - with what kinds of illnesses - others can assist with ending their lives. "You can imagine the public brouhaha if the guidelines permitted those who were temporarily ill or not very ill to be assisted in their premature passing without any sanctions for those assisting them," he says. (Read "True Freedom...