Word: turning
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...December, when Brian Moynihan was tapped to be the chief executive of Bank of America, many said he got the job because no one else would take it. Just days before, Robert Kelly, the CEO of Bank of New York Mellon, had become the latest high-profile executive to turn down the post. But in the three months since Moynihan, 50, has taken over the reins at the nation's largest bank, he has used a mix of consumer-friendly initiatives, Washington face time and attention to detail to win over critics. Consumer advocates have applauded the bank's moves...
Moynihan, of course, still has a lot of work to do. He still has to turn around Bank of America's large credit-card business, which has consistently had higher loss rates than competitors. The bank has also been without a chief financial officer since mid-January, though people close to the search say Moynihan recently narrowed his choices down to three people. And Moynihan may have to answer recent claims that the bank used Lehman-like accounting maneuvers to hide assets. Bank of America has denied the allegations. (See the best business deals...
...mass destruction. The government believes the group - which apparently espouses an extreme form of fundamentalist Christianity - may have been plotting to kill law-enforcement officers to help spark a broader armed conflict. According to court documents, the Hutaree deemed police "foot soldiers" of the federal government - which in turn was part of the new world order, a perpetual bogeyman of militia groups. (See pictures of a jihadist's journey...
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...bombers struck just beneath the headquarters of the FSB, Russia's secret police. Known as the KGB before the fall of the Soviet Union, the agency's harsh security tactics in the isolated Caucasus Mountains have incensed the local separatists who have been fighting for years to turn parts of the country into an Islamic caliphate governed by strict Shari'a law. (See pictures of the suicide bombings in Moscow...