The New York Times explores the environment at Bank of America that led to Thompson's departure and what lies ahead.» Read More
In a memo to Dell employees days after returning as chief executive officer, Michael Dell said the beleaguered computer maker is quashing bonuses for 2006 and reducing managers to help cut costs and steer the company back toward dominance.
On Wall Street, there’s a guilty pleasure in watching the rich and powerful stumble. After the resignation Dell Chief Executive Kevin Rollins, many investors began quietly asking where the axe might fall next. Jon Ogg, the editor of 24/7 Wall Street.com, has accurately predicted changes at the helm of Home Depot, Gap and, as we mentioned, Dell. Today on CNBC’s “Street Signs,” we asked the question that everyone is wondering.
We've mentioned today's report on global warming in an earlier post--so let's get right to one of the major questions: is corporate America taking global warming as a serious issue or not? Some are it seems as reported earlier this month when 10 companies and their CEOs joined activist groups in calling for caps on carbon emissions.
Former Home Depot CEO Robert Nardelli could have stayed as chief executive of the home-products giant if he had agreed to take a $20 million cut in his contract that entitled him to around $200 million, CNBC'S Charlie Gasparino has learned.
Dell, who takes over as CEO for ousted Kevin Rollins, ends a four-year hiatus during which the company issued the largest consumer electronics recall ever, found itself the subject of a formal investigation by the U.S. Securities and Exchange Commission and lost its position as the world's largest PC maker to a rejuvenated Hewlett-Packard
A controversial U.S. Senate bill on minimum wage is set to be voted on later today – it includes a provision that is designed to reign in executive pay by capping tax-deferred compensation at $1 million or a 5 year average of taxable salary, whichever is less.
Dell announced that Michael Dell will assume the duties of chief executive officer, replacing Kevin Rollins, who resigned. Dell will remain chairman of the troubled computer maker.
Rumors about merger talks between pharmaceutical giants Sanofi-Aventis and Bristol-Myers have picked up speed after French financial newsletter La Lettre de I Expansion reported a deal was in the works. Thomas Burnett, director of research at Wall Street Access, was on “Morning Call” to give his take on the possible friendly takeover.
The days of Enron and WorldCom-sized corporate malfeasance scandals may seem like they just ended, but another debate regarding corporate ethics is reaching critical mass in boardrooms across the country – the issue of executive compensation. Adding fuel to the fire were the recent lucrative severance packages for Home Depot CEO Bob Nardelli ($210 million) and Pfizer CEO Hank McKinnell...
What many see as outrageous or obscene compensation for chief executive officers is back in the limelight after some high profile pay packages lately. The WEF meeting is tackling the issue by asking basic questions: What’s an appropriate level for top managers? Who defines “appropriate” and how? Should a CEO’s pay be linked to the company’s performance? The contrarian view is that there is little or no direct link between pay and performance and coupling the two might be detrimental because CEOs would cut corners to boost their pay, eroding the company’s long-term prospects. (More)
Generics hurt sales of Bristol-Myers Squibb's top-selling and most profitable drug Plavix, and Bristol-ImClone cancer drug Erbitux. Also: This afternoon, ICOS shareholders vote on the Eli Lilly buyout offer -- see the results ASAP on CNBC.com.
Dow Chemical is looking to make acquisitions, but the amount of private-equity money floating around has made lots of businesses in chemical sector expensive, the company's chief executive told CNBC.
Chief executives worldwide expect growth in markets such as Brazil, China, India and Russia to keep increasing and are optimistic about higher revenues at their companies, but they are concerned about over-regulation and finding enough skilled workers.
The news from Renault Nissan CEO Carlos Ghosn out of eastern Europe today -- that his company is no longer seeking a third auto company for an alliance -- should send a clear message: automakers are not yet ready to consolidate.
Citigroup said Sallie Krawcheck, its chief financial officer, is being reassigned to become chairman and chief executive of its global wealth management division.
It takes self-confidence to be the chief executive. Faith in the business environment is another matter. Edward Kopko, CEO of Chief Executive magazine, told "Morning Call" that the C-level executives his publication surveyed fear the U.S. economy may be faltering.
Citigroup posted record revenues of $89.6 billion in 2006 – and even beat analyst estimates by 3 cents per share – but profits at the country's largest bank are still down from a year ago. CEO Chuck Prince has been under pressure to boost the bank’s bottom line and while he has made progress – the stock is up significantly in the last two months...
The New York Mercantile Exchange went public on Nov. 17. But NYMEX President and CEO James Newsome stayed private – until today, when he granted his first interview exclusively to "Morning Call." Newsome told CNBC’s Melissa Francis that NYMEX Holdings enjoys "numerous opportunities" to leverage its rich treasury...
Over the past couple days, there has been much ado about Creative Artists Agency buying Leon Rose, agent of LeBron James, among others. If CAA thinks LeBron is coming along for the ride, I’d be very surprised ... I never thought I’d write this, but over the past year, the U.S. government has really managed to cripple the online gambling business. First, BetOnSports.com goes, after its CEO David Carruthers was arrested at an airport. Last week, PinnacleSports.com, the site known for the biggest limits and the quickest payouts, voluntarily closed up shop in the U.S. And now ... The Dodgers are opening up some bleacher seats and charging $35 instead of the usual $10, but they’re making them all-you-can-eat. About 3,000 fans will have the opportunity to shove their faces with as many hot dogs, peanuts, popcorn, nachos and sodas as they want ...
Shares of BP surged more than 4% after the oil giant said Chief Executive John Browne had decided to step down at the end of July, much earlier than planned.