Motorola Chief Walks On Razr’s Edge

Zander exhales as company reports third-quarter profit

(NEWSER) - Motorola CEO Ed Zander may have won at least a temporary reprieve from some of the harsh criticism he's endured in recent months, as the largest US maker of mobile phones reported a third-quarter profit today. Evading a straight-up loss through aggressive cost-cutting, Motorola earnings were down 94%, but it still raked in a net income of $60 million, or 3 cents a share, BusinessWeek reports. More»

Slumping cellphone maker learns a lesson about putting all its eggs in one basket

(NEWSER) - Riding high on the success of its sleek Razr cellphone, Motorola got cocky and didn't come up with a suitable successor, the Wall Street Journal reports, and the misstep cost the company big bucks. While Motorola struggled to keep up with emerging technology and wrestled with management upheaval, competitors moved in and the company's stock slumped. More»

CEO is 'committed' to firm's employees

(NEWSER) - AIG CEO Robert Benmosche isn’t fed up with running a government-controlled insurance giant after all: Backing away from his threat to quit, Benmosche said today that he remains "totally committed” to the company. The CEO conceded, however, that he and the board “are indeed frustrated” with the government’s restrictions on compensation, which he called a barrier to “restoring AIG’s value,” the Wall Street Journal reports. More»

(NEWSER) - AIG chief Edward Liddy is stepping down after eight months on the job, the Wall Street Journal reports. The government appointed Liddy chairman and CEO last fall after the feds bailed out the insurance giant. Liddy recommended splitting the job into two roles and will remain until his replacements are chosen. AIG's problems occurred well before Liddy's watch, but he took plenty of heat over AIG bonuses this year. More»

President says he, Geithner will press executives on issue

(NEWSER) - President Obama denounced huge bonuses to Wall Street executives as “the height of irresponsibility” given the country’s economic hardship, the AP reports. Responding to news that financial firms paid out $18 billion in bonuses last year, Obama described the firms’ actions as “shameful” and vowed that he and Treasury Secretary Timothy Geithner will meet with Wall Street CEOs to make the point in person. More»