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Richard Breeden, a restructuring expert who led the turnaround of WorldCom, is also probably on a number of board-recruitment wish lists. In addition to his Wall Street experience, Breeden knows Washington. From 1989 to 1993, he was chairman of the Securities and Exchange Commission. William Donaldson, another former chairman of the SEC, also has the Washington and Wall Street experience that would make him a good get in today's bank-board race. "The problem these boards have had is that the people who know the most are the insiders," says top financial-services recruiter Gary Goldstein...
...This last trait has, it seems, even infiltrated student groups with a supposed commitment to charity. Thanks to the lofty claims these organizations parade on posters, purchasers are led to believe that all proceeds from the highly priced tickets are donated. However, with an interpretation of honesty that Bill Clinton would be proud of, there are often no actual profits—and consequently, no donations. To market an event based on the assumption of charity and then fail to give away a cent is the peak of hypocrisy. Equally reprehensible is the tacit acceptance suggested by the administration?...
Financial stocks - banks, brokers, asset managers - led the stock market down earlier this year, and almost left the stage as many shares sank into single digits. In recent weeks, however, the group has reversed course, rallying strongly, and even led the market to a robust gain on Monday, with the Dow rising 235 points. So is this the sign of a true financial-stock recovery, or a seductive bear trap? TIME contributing editor John Curran caught up with Oppenheimer & Co. chief investment strategist Brian Belski, who was in Tel Aviv on Monday, to get his view on banks...
Salute. To commemorate the 65th anniversary of D-Day, the National World War II Museum in New Orleans is sponsoring a Victory in Europe tour to Normandy, led by the museum curators and veterans, who share first-hand stories and serve as guides. On the tour, you'll visit London, Normandy and Paris, and highlights include dinner with Viscount Montgomery of Alamein, the son of Field Marshal Bernard Montgomery. The package is priced per person at $5,550 double-occupancy; the single supplement is $1,150. If you can't get to Normandy, the Nola museum is also running...
...went after the LTTE leadership," Lakshman Hulugalle, director-general of the Defense Ministry's Media Centre for National Security told TIME. "With the leadership wiped out, this organization cannot re-emerge." Army Commander Lieutenant Sareth Fonseka also said that Prabhakaran's death marked the end of the LTTE-led separatist war. "We have rid the country of terrorism," he told national television soon after the official announcement of Prabhakaran's death aired. (Read "The Tigers' Last Days...