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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: CEO

CEO stories: 106 news summaries

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analysis

Bailout CEOs: Make Them Share Taxpayer Risk

When taxpayers have to take a stake, CEOs should have to do the same

Dec 2, 08 12:36 PM CST
(Newser) - As taxpayers become stakeholders in the very firms that made this economic mess, it’s become easy to say that losing CEOs should be stripped of their salaries, writes Andrew Ross Sorkin in the New York Times. But driving out good CEOs is no way to rebuild the banking sector.... More »

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executive compensation • CEO • salary • bonuses • financial crisis • Andrew Ross Sorkin

CEOs Took Billions
Off the Table Before Bust

15 financial, home building bosses made over $100M

Nov 20, 08 8:55 AM CST
(Newser) - Investors have lost some $9 trillion since last year’s stock market peak, but at the center of the maelstrom, CEOs of some of the worst-performing companies are sitting pretty. Fifteen financial services and homebuilding CEOs have accumulated more than $100 million each in the past 5 years in cash... More »

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executive compensation • Goldman Sachs • CEO • Bear Stearns • Lehman Brothers • financial services • Toll Brothers • financial sector • Richard Fuld

MGM Mirage Chief Quits
Amid Fake MBA Flap

Lanni denies sudden resignation related to degree fib

Nov 14, 08 2:04 AM CST
(Newser) - The CEO of MGM Mirage has announced his resignation, but denied it had anything to do with lying about having an MBA, reports the Wall Street Journal. J. Terence Lanni, one of the most powerful figures in the gambling world, has long claimed to have an MBA from the University... More »

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Kirk Kerkorian • gambling • Las Vegas • CEO • MGM Mirage • resignation • casino • University of Southern California • MBA

Gender Pay Gap Persists
at CEO Level, Too

Women CEOs still earn up to two-thirds less than male chief execs

Nov 9, 08 2:32 PM CST
(Newser) - When it comes to equal pay for equal work, female CEOs have yet to level the playing field, either, blogs Jena McGregor in BusinessWeek. Women at the top today earn 85% of what their male counterparts make—$1.75 million compared with $2.1 million at the median—even though... More »

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CEO • salary gap • gender gap • equal pay

Boeing CEO Hopeful as Strike Talks Set to Resume

Firm may find compromise on crucial outsourcing issue

Oct 22, 08 3:16 PM CDT
(Newser) - Boeing’s CEO is confident that the next round of talks could resolve a costly strike by its machinists union, the Seattle Times reports. With formal negotiations set to resume tomorrow, Jim McNerney thinks headway can be made on the pivotal issue of outsourcing the production of parts traditionally fashioned... More »

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Boeing • airline industry • CEO • outsourcing • strike • machinists union • Jim McNerney • International Association of Machinists and Aerospace Workers

A $250B Offer They Couldn't Refuse

In brief meeting, Paulson gave banks a 'take it or take it' deal

Oct 15, 08 7:47 AM CDT
(Newser) - When the CEOs of America's 9 largest banks arrived at the Treasury at 3pm Monday afternoon, they each received a draft one-page statement promising to sell shares to the government. By 6:30 they'd all signed them. The New York Times reconstructs the meeting, during which Henry Paulson wore down... More »

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Bank of America • CEO • Henry Paulson • Wells Fargo • Treasury Department • financial crisis • recapitalization

OPINION

Hey, You Turkeys: Quit
Gobbling CEO Pay

Costly salaries make sense if they save billions

Oct 1, 08 1:11 PM CDT
(Newser) - Politically imposed CEO pay limits are “one of the most penny-wise and pound-foolish things” the “turkeys in Congress” are looking to impose in the bailout package, Thomas Sowell writes in the National Review. It’s a bargain to get a CEO “out the door immediately for millions”... More »

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Congress • executive compensation • CEO • bailout • financial crisis

ANALYSIS

Execs Were Paid $3B to Lay Credit Crisis Foundation

Wall Street chieftains were well rewarded for risks they took in 2003-07

Sep 26, 08 5:45 PM CDT
(Newser) - More than $3 billion was paid to the chief executives of the five biggest financial firms on Wall Street in the run-up to the credit crisis, Bloomberg reports. While supervising bad mortgage-related credit bets that eventually brought the financial system to its knees, Merrill Lynch’s Stanley O’Neal took... More »

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executive compensation • Goldman Sachs • CEO • Henry Paulson • Bear Stearns • Merrill Lynch • James Cayne • credit crisis • Stanley O'Neal • compensation • investment banks • JPMorgan Chase • financial crisis

ANALYSIS

Her Golden Parachute Fine With McCain

'No analogy' between Fiorina's $45M from HP, subprime payouts

Sep 16, 08 2:10 PM CDT
(Newser) - John McCain and Sarah Palin made a point yesterday of blasting CEOs who left their companies with multimillion-dollar golden parachutes while workers and shareholders suffered. But McCain’s top economic adviser deployed just such a shiny parachute when Hewlett-Packard ousted her, ABC News reports. Carly Fiorina pocketed $45 million, even... More »

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John McCain • CEO • Bear Stearns • Freddie Mac • Fannie Mae • Countrywide • Carly Fiorina • golden parachutes • Hewlett-Packard

Fannie, Freddie CEOs in Line for Millions in Severance

Mudd, Syron each stand to net at least $6M; critics rip 'pay for failure'

Sep 9, 08 11:12 AM CDT
(Newser) - The CEOs of Freddie Mac and Fannie Mae will receive millions in severance pay, pension payouts, and other benefits after the government’s takeover of the mortgage giants, the Los Angeles Times reports. Fannie’s Daniel Mudd stands to take away $7.3 million, and Freddie’s Richard Syron will... More »

MORE ABOUT:
Barack Obama • CEO • Freddie Mac • Fannie Mae • Richard Syron • bailout • Daniel Mudd • golden parachutes • financial crisis

Obama, McCain Woo CEOs
to Shore Up Economic Cred

Candidates try to make up for their lacking economic records

Aug 14, 08 2:16 PM CDT
(Newser) - John McCain and Barack Obama are doggedly courting CEOs of leading businesses in an effort to win voters' economic confidence, the Wall Street Journal reports. Each candidate has already lined up a corps of "poster CEOs," including the FedEx chairman, who is supporting McCain, and Warren Buffet, who... More »

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Barack Obama • John McCain • Warren Buffett • CEO • business • corporations • Election 2008 • economy • Fred Smith

EARNINGS

Alcatel-Lucent CEO, Chair to Quit After 6th Straight Loss

6th straight quarterly loss for troubled telecom giant

Jul 29, 08 6:46 AM CDT
(Newser) - Patricia Russo, the CEO who led the merger of Alcatel-Lucent, will step down by the end of the year after the troubled telecom giant released yet another grim quarterly report, posting a net loss of $1.73 billion. That figure was much larger than analysts had predicted, and almost double... More »

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France • CEO • earnings reports • telecom • Patricia Russo • telecommunications • Alcatel Lucent

OPINION

Rumors About Jobs' Health Hit Ghoulish Point

Speculation about Apple boss has crossed the line

Jul 23, 08 8:21 AM CDT
(Newser) - Speculation about the state of Steve Jobs' health is reaching fever pitch, and the scramble to know more is over the top, Tom Krazit writes in CNET. Shareholders, concerned by the Apple CEO's recent weight loss and the fact that he once had pancreatic cancer, are calling for full disclosure.... More »

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Steve Jobs • CEO • shareholders • Apple • weight loss • pancreatic cancer

In Good Times and Bad,
Looks Matter

Execs' trustworthy appearance can mislead consumers

Jul 21, 08 1:07 PM CDT
(Newser) - Did so many people believe IndyMac CEO Michael Perry's assurances that his company was doing fine because of his baby face? A forthcoming study suggests that soft features like "large eyes, small nose, high forehead and small chin," engender more favorable bias in viewers, the Washington Post reports.... More »

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CEO • IndyMac • appearances • subprime crisis • consumer psychology • corporate execs

 Embattled AIG CEO Steps Down 

Board replaces Sullivan with Citi exec Willumstad

Jun 15, 08 3:43 PM CDT
(Newser) - Martin Sullivan has stepped down as AIG's CEO, and the company's board named chairman Maurice Willumstad his successor, insiders tell the Wall Street Journal. The insurance giant's stock has plummeted more than 50% since October due to subprime writedowns, and Sullivan is still embroiled in legal battles with his former... More »

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insurance companies • subprime mortgages • CEO • AIG • subprime crisis • American International Group • Martin Sullivan • insurance industry • financial crisis

 CEOs Live the
 Good Afterlife 

Lavish 'severance' payments go to heirs if bosses die at the helm

Jun 10, 08 9:23 AM CDT
(Newser) - Corporate critics who say there is not enough connection between performance and executive pay may be gravely concerned to learn that many execs will keep getting sky-high bonuses when they're 6 feet under. A Wall Street Journal review finds dozens of CEOs will receive "golden coffin" payments if they... More »

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executive compensation • CEO • death • corporations • corporate earnings • payoffs • executives

Ex-Broadcom Boss Charged With Drugging Exec Drinks

Dozens of drug, fraud charges for billionaire

Jun 6, 08 5:27 AM CDT
(Newser) - Broadcom's co-founder has been indicted on an astounding spate of federal fraud and narcotics charges, the Wall Street Journal reports. Henry Nicholas III is accused of using and distributing drugs over a seven-year period while directing a criminal stock options-backdating conspiracy that cost the firm billions. Prosecutors claim he secretly... More »

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CEO • drugging • drug abuse • stock option backdating • stock options • federal indictment • Broadcom • backdating scandal

 Rockefellers' Green Revolt
 Fails at Exxon

Bid to open leadership to global warming debate fails

May 29, 08 2:47 AM CDT
(Newser) - A shareholder revolt at Exxon Mobil by descendants of company founder John D. Rockefeller has failed to force management to split up the dual chairmanship and CEO roles of Rex Tillerson. The proposal to appoint an independent chairman in part to stimulate board debate about global warming garnered 40% of... More »

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CEO • John D. Rockefeller • Rockefeller family • Exxon Mobil • Standard Oil • shareholder revolt • independent chairman

Obama Says McCain
All Talk on CEO Pay

He also calls for overhaul of public financing system for campaigns

Apr 11, 08 4:28 PM CDT
(Newser) - Barack Obama grilled John McCain on CEO compensation today and continued laying into the public financing system for campaigns. He railed against execs who “make more in one day than their workers make in one year” and called for legislation requiring corporations to let shareholders set pay. He said... More »

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Barack Obama • John McCain • executive compensation • campaign finance • CEO • public financing

Norway
Shatters Its
Glass Ceiling

Nation requires 40%
of big companies' boards to be female

Mar 6, 08 5:44 PM CST
(Newser) - A state-mandated shattering of Norway's glass ceiling is drastically changing gender balance in boardrooms there—and not without some resistance, the Guardian reports. A law that 40% of non-executive board directorships at larger firms must go to women went into effect Feb. 22—and though a dozen Norwegian companies failed... More »

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CEO • business • Norway • gender discrimination • gender gap • board of directors • sex ratio • glass ceiling • gender in business

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