The bosses at VMS, a credit card processing company in Illinois hand over control of the business to their employees who must address the office dysfunction.» Read More
Bank of America CEO Ken Lewis won't resign if he is slapped with civil charges from New York Attorney General Andrew Cuomo, but he's likely to leave if he is charged by the Securities and Exchange Commission, sources inside the Bank have told CNBC.
Northrop Grumman Chairman and CEO Ronald Sugar is retiring at the end of the year.
The New York Attorney General's office has subpoenaed five members of Bank of America's directors as part of an investigation into the bank's acquisition of Merrill Lynch, according to a person familiar with the investigation.
A federal judge on Monday rejected a $33 million settlement between the Securities and Exchange Commission and Bank of America, saying the SEC's accusations of inadequate disclosure by the bank over bonuses paid at Merrill Lynch must now go to trial.
The government has lost momentum on financial reforms and needs to figure out how to prevent a potential collapse of the financial system, Morgan Stanley CEO John Mack told CNBC Friday.
A Wells Fargo executive who oversees foreclosed properties hosted parties and spent long summer weekends in a $12 million Malibu beach house, moving into the home just after it had been surrendered to Wells Fargo to satisfy debts, neighbors said.
The change in the Morgan Stanley management will benefit the bank, but CEO John Mack should leave for good, Rochdale Securities Banking analyst Richard Bove told CNBC Friday.
Morgan Stanley Chief Executive John Mack is stepping down and will be replaced by James Gorman, one of the investment bank's co-presidents, CNBC learned. Mack will remain chairman, however.
Anne Mulcahy, chairman and former CEO of Xerox, said the uncertain economy has forced the company to remain cautious about spending and instead focus on making sure costs remain under control and that its balance sheet remains strong.
Redbox’s growth — it started with 12 kiosks in 2004 and now processes about 80 transactions a second on Friday nights — has Hollywood’s blood boiling, the New York Times reports.
They were left out of the latest unemployment rate, as they are every month: millions of hidden casualties of the Great Recession who have stopped looking for work, the New York Times reports.
For decades, companies have worked to incorporate the Six Sigma analytical business approach. Now, some say, it's time for the next challenge: "design thinking."
Phrases like “game changer,” “value add” and “it is what it is” are among the most overused phrases in business today, according to a survey of top executives that was released Thursday.
The rich have been getting richer for so long that the trend has come to seem almost permanent, the New York Times reported.
Chemical maker DuPont said Thursday its chief financial officer will move to a new role as the company consolidates 23 businesses into 14, as part of an effort to capitalize on global growth opportunities to drive profitability and sales.
Byron Wien will join The Blackstone Group as vice chairman of Blackstone Advisory Services, the investment firm announced Wednesday.
The federal agency that regulates Fannie Mae and Freddie Mac named Thursday an interim replacement for its director, who is stepping down at the end of the month.
Carol A. Bartz, chief executive of Yahoo, has been hobbled, the New York Times reported.
Former Merrill Lynch brokerage chief Bob McCann has the inside track to head up the brokerage division of UBS, sources told CNBC.
While workers in the rest of Europe are accepting to work four day weeks or part-time, or take periods of semi-paid leave, employees in Britain have been working six-day weeks to keep their jobs, according to a survey out Tuesday.
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