Bank of America sent CNBC the following statement regarding its decision to combine the role of CEO and chairman.» Read More
A few days ago I blogged about the state of Chrysler and posed a simple question: What do you want to see from Chrysler for you to consider buying a car or truck from the American automaker?
Westpac Banking, Australia's fourth-biggest lender, said on Friday it had appointed Gail Kelly, the head of rival lender St. George Bank, as its new chief executive.
Since I report so much on Rupert Murdoch and News Corp, it seemed only fair to report on his softer side. Despite that fact that Murdoch is known for pushing a conservative agenda in his media outlets, he's promoting what's traditionally been considered a liberal cause -- a campaign against global warming.
Everyone gripes about the fact that there's no privacy online and Web surfers' personal information is exploited. But sometimes our actions online should be transparent -- there needs to be some accountability in this world of Wikis, where users are counted on to police inaccuracies and update news.
Usually when a company announces cost cuts that will help improve cash flow and buoy profits, investors cheer and buy the stock. After the bell yesterday, Amgen revealed it's going to get rid of as many as 2,600 employees, cut its capital expenditures this year and next by nearly $2 billion and close or downsize plants. The measures are being taken to help absorb the blow from plummeting sales of Amgen's anemia drug, Aranesp, which is facing intense safety and reimbursement issues. This morning the stock is trading at a new multi-year low.
If you haven't been to the world's biggest drug company's homepage recently you might want to check it out. It used to be very corporate and stodgy. But earlier this month, the website got a facelift.
The New York Times may be the paper of record, it might have earned the title 'Gray Lady,' but it cannot escape the changing times. I'm not talking about the fact that that print publications across the board are suffering ad revenue declines and subscription dips.
One week after Cerberus Capital announced former Home Depot spacerCEO Bob Nardelli will take over Chrysler, the reality of the job he faces in fixing the automaker is clear. It is gonna take a while.
Sometimes I'm funny, and sometimes I just THINK I'm funny. Here are some of the responses to the blog I posted Friday, while camping outside Countrywide Headquarters.
German pay-TV broadcaster Premiere said Monday that its long-serving chief executive, Georg Kofler, is stepping down.
Qwest Communications said late Sunday it has named former Williams-Sonoma CEO Edward A. Mueller to succeed retiring Chairman and CEO Richard C. Notebaert.
So, I've been spending the entire morning today sitting outside Countrywide's corporate headquarters in Calabasas, California (at least there's a nice breeze). I'm covering the nuggets inside the company's quarterly regulatory filing which doesn't paint a pretty picture. Bottom line, the future of lending looks murky. Countrywide can't sell a lot of its loans to investors, so it's having to hold onto them.
Gannett is not for sale, CEO Craig Dubow said in a memorandum to employees, shooting down rampant speculation that the biggest U.S. newspaper publisher is preparing for a change of control.
Richard Branson's Virgin Media, said it has delayed its sale until the environment improves enough for all interested parties to bid. The British billionaire Branson is the largest shareholder of this cable TV company, which received one bid from the Carlyle group for some $23 billion, and some nibbles from other private equity players.
Late Thursday, ImClone Systems announced it has finally hired a permanent CEO. It'd been without one for about two years. The biotech company which makes the cancer drug Erbitux and became reluctantly famous in the Martha Stewart stock-trading case tapped a guy named John Johnson for the role.
Ford CEO Alan Mulally's suggestion that higher fuel taxes might curb our country's gas consumption is one of those ideas that makes sense on paper, but in reality, likely won't happen. I know, some of you are gonna say, "wait a minute, they pay higher gas taxes in Europe. If it works there, Why can't it work here?"
News Corp earnings come out after the bell, followed by a conference call at 4:30 eastern. Analysts focus on the call (there's always a Q&A period after the presentation) will be much less on the numbers, and much more on CEO Rupert Murdoch's guidance. The hot topic of the day is Dow Jones. Analysts may ask Murdoch to justify the 67% premium he's paying for the company in an industry facing such slow growth.
A day after former Brocade CEO Gregory Reyes was found guilty on all 10 securities fraud charges brought against him, dozens of Silicon Valley executives--and hundreds of executives nationwide--faced with the same allegations, will have to re-think their defense strategies. The sweeping verdict in the first-of-its-kind criminal case for the U.S. Justice Department sent a seismic ripple through this region yesterday.
Who doesn’t want to be Sir Richard Branson? Today, though, he may have bitten of more than his beknighted mouth can chew. I wish him well in starting a new airline based in San Francisco, Virgin America. He will need luck. Folks, if you’ve ever flown in or out of San Francisco, you know what I'm talking about—the bitter resentment growing in your belly as the fog settles in once more and delays your flight for two hours.
DreamWorks SKG couldn't have gotten off the ground more than a decade ago if it weren't for Paul Allen's $500 million investment. Perhaps his work is done--now he's selling $150 million of DreamWorks Animation stock back to the company, and doing a secondary offering to sell an additional 10 million shares to the public.