Word: firms
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...Lewis got a slap on the hand. Shareholders of Bank of America (BAC) voted to separate the chairman's role from the CEO's and the bank's board was forced to elect a new chairman, Walter E. Massey, a college president who has been on the firm's board for so long that he is as responsible for the bank's trouble as anyone else involved in the company's governance...
...difficult set of circumstances that face most large banks. The second is that no one else would take the job. Lewis can fairly make the claim that B of A shareholders have not done too badly since the Merrill troubles were disclosed. Since the first of the year, the firm's stock has done nearly as well as Wells Fargo's (WFC) and much better than Citigroup's (C). (See 25 people to blame for the financial crisis...
Starbucks started to get in trouble three years ago when its now-departed CEO said that the chain would eventually have 40,000 locations worldwide. It was an arrogant prediction given that Starbucks was not even half way there. Investors and customers saw that the firm's plans were grandiose once the leading edge of the recession hit Starbuck's business. The stock was punished and so were the company's employees. Last July Starbucks fired 12,000 people. That action broke an important bond with the employees who worked at the company, at fairly low pay, and the company...
Microsoft (MSFT) has never had much success in the businesses of creating and marketing hardware. Why should it? Microsoft is the world's largest software company. The firm has tried to become the GE of technology for over a decade; a conglomerate in several loosely related businesses that support one another even if that support is only tangential...
...Mexico-City based analyst for Banco Santander of Spain, is convinced that government's strong-arm tactics will prove that Mexican authorities, criticized for ineffectiveness on other issues, can make the tough decisions - even if the virus threat proves to be exaggerated. "The authorities are being decisive and firm. This will help the economic damage be a short term thing and build up confidence in Mexico," Camarena says. However, for many in the service sector, the mayor's crackdown is seen as the equivalent of a nuclear attack on their already struggling businesses. Daniel Loeza, vice-president of the restaurant...