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Legislation aimed at preventing retailers and other nonfinancial companies like automakers from operating a bank was approved by the U.S. House Financial Services Committee.
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 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.
The AFL-CIO, the largest U.S. union federation, is targeting Verizon Communications in a campaign against high executive pay, and will vote against the company's compensation committee at the company's May 3 annual meeting.
A new report predicts a 75% chance of a major hurricane hitting the U.S. coast this year. What's your hurricane trade as Mother Nature roars this summer?
Stocks closed higher across the board Tuesday as investors were encouraged by better-than-expected housing data and a steep pullback in crude oil prices. "The market was pleasantly surprised by the housing numbers," John Massey, portfolio manager at AIG SunAmerica, told CNBC.com. "That took out a significant amount of resistance and hesitation in the market, and tensions cooling in Iran led to a pullback in energy. It was a confluence of those two events."
Home Depot slowed its store growth in 2006, according to a federal filing on Thursday. The filing also gave details of the $210 million severance package for former CEO Robert Nardelli, who left in January.
Former Home Depot CEO Bob Nardelli has been offered a position at the private-equity fund Cerberus Capital, but Nardelli's former employer is balking at letting him accept the job, CNBC's Charlie Gasparino has learned.
Companies are loading up on debt, a tactic out of the playbook of private equity. But it's not just a leveraged recapitalization, as the Wall Street Journal writes today. A couple of months back, I wrote about Home Depot. An analyst who covers Home Depot said the DIY retailer was vulnerable to a buyout. Slowing sales and low debt levels put a bullseye on the company.
"Wal-Mart made a wise choice," FDIC Chairman Sheila Bair said in a statement. "This decision will remove the controversy surrounding their intentions."
World stock markets are bouncing back after Wall Street's higher close Wednesday. Of course, those gains came after a somersault session that saw the Dow take a 200-plus-point round trip, after dipping below 12,000. Volatility is likely to stay as we head toward the expiration of options Friday. For now, futures point to a higher opening.
Frank Blake, the chief executive of The Home Depot, defended predecessor Bob Nardelli on Wednesday against criticism he received over the company's lagging stock price and even referred to him as a mentor, but was quick to point out the two have differences.
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 House Financial Services Committee Thursday holds a public hearing on the issue and the hue and cry about greed and abuse is bound to bounce off the walls of Congress. 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.
The news: Concerns that big brokerages such as Lehman Brothers and Goldman Sachs will be left behind as this market recovers? Tim Strazzini said...
Stocks finished the day higher after the Fed chairman reassured investors that the economic outlook is not changed. "The (markets) valuation, if anything, has gotten a little bit better," Goldman, Sachs chief U.S. investment strategist Abby Joseph Cohen said. "Going forward, what matters is that the global economy still looks good."
Dow component Home Depot announced Wednesday that it expects only small growth in sales this year, with earnings per share falling. But investors shouldn’t be too concerned about this year’s numbers, David Schick, retail analyst at Stifel Nicolaus, told “Squawk Box.”
Home Depot, the world's largest home improvement store chain, said Wednesday it will pump $2.2 billion into improving its business this year amid internal projections that show overall sales will grow only slightly and earnings per share will fall.
The housing slump may be having a bigger impact on the economy--and corporate profits--than many people realize. “People don’t realize the impact housing has,” Richard Manoogian, chairman and chief executive officer of home improvement product giant Masco, said.
The home improvement retailer reported quarterly profit fell 12%, hurt by weakness in the U.S. housing market and comparisons with last year, when sales were boosted by rebuilding following a series of hurricanes.
Inflation data and the Fed's meeting minutes could be two big drivers for the markets today. So far, stocks look weak-to-flat ahead of the opening after yesterday's late-day rise to yet another record level. Hewlett-Packard is trading lower in Europe after reporting earnings after the bell yesterday. Wall Street is apparently unhappy with its outlook, after its report of a 26% rise in profits on strong printer and PC sales.
Stocks closed higher as comments from a Fed governor added to positive sentiment, building on gains from merger activity and Wal-Mart's better than expected profits. A drop in oil prices sent buyers into consumer stocks and other sectors that benefit from falling energy prices.