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NEWS ABOUT: executives

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Execs Busted for 'Office Babe' Email

PricewaterhouseCoopers men aimed to rank 'top10'

(Newser) - Accounting behemoth PricewaterhouseCoopers is roiling in controversy after a group of executives distributed a photo-heavy email ranking the top babelicious workers in the Dublin office. "We are taking this matter extremely seriously and are launching a full investigation," said a company spokesman of the email, distributed among 17... More »

Monks Seek to Recruit High-Flying Execs

Ad campaign offers stressed bankers a different life

(Newser) - Unlike most ads in Switzerland's leading "executive search" magazine, a prominent one that appeared over the weekend was most notable for what it promised candidates they wouldn't get. Bankers-turned-monks will enjoy a life "free of personal material riches and a couple relationship," read the ad from the... More »

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B

Average payout will be five times median household income in US

(Newser) - Recession? What recession? Some Wall Street firms are not feeling any pain this year as record bonuses at just three of the top firms are likely to hit an eye-popping $30 billion. Goldman Sachs, Morgan Stanley and JPMorgan Chase, the three biggest banks to be bailed out by the feds,... More »

Exec Pensions Soared as Stocks Tanked

Multi-million-dollar payouts escape pay watchdog scrutiny

(Newser) - Steep increases in the pensions of top execs passed largely unnoticed amid the recent uproar about pay and bonuses. The average pension for a top executive rose 19% last year even as share prices fell by an average of 37%. More than 200 execs saw pensions boosted by over 50%... More »

Manage Like a Marine

Officers outline similarities between Iraq and the office

(Newser) - Marine officers Timothy Saint and Nicholas Smith "learned a lot about leadership and management that we wish someone had told us as boot lieutenants" during their service in Iraq, and most of it applies to young managers in the corporate world. They provide some guidance on Business Insider :
  • Listen
... More »

Bailed-Out Banks Boost CEO Perks

From private jets to bodyguards, they just keep taking

(Newser) - The CEOs of bailed-out banks and financial companies saw their perks and benefits—ranging from private jet use and country club membership to free parking and bodyguards—rise even at the height of the crisis last year. On average, the CEOs of the 29 biggest companies that received federal money... More »

Wells Fargo Fires Exec Who Squatted at Malibu Pad

Senior VP Cheronda Guyton used house that belonged to Madoff victims

(Newser) - Wells Fargo said today it has fired the executive who turned a seized California beachfront mansion into a personal playground, the Los Angeles Times reports. Neighbors say they saw Cheronda Guyton staying in the $12 million Malibu Colony property, which had been turned over to the bank by a couple... More »

Social Security Suffers as Execs' Pay Soars

Top-paid workers get a third of total US pay

(Newser) - Executives and other employees earning top dollar pull in more than a third of all US pay, the Wall Street Journal finds—and the ceiling on compensation subject to payroll taxes hasn’t risen enough accordingly, meaning the government isn’t bringing in what’s needed to plug ever-growing holes... More »

Bailed-Out Bank Execs Fly Corporate Jets to Resorts

Citi, BoA, Morgan Stanley CEOs jetted off after cash infusions

(Newser) - Executives at bailed-out banks are still using company jets to fly to vacation homes and resorts, the Wall Street Journal reports. The newspaper reviewed FAA records to find that banks receiving federal aid have flown top execs to locales such as the Caribbean, Aspen, and Europe. Case in point: Less... More »

Some Bank Bosses Face Axe: FDIC Chief

After feds' stress tests comes 'evaluation process,' Bair says

(Newser) - An “evaluation process” following banks’ stress tests will lead to the sacking of some execs, Federal Deposit Insurance Corp. chair Sheila Bair tells Bloomberg. “Management needs to be evaluated,” she noted. “Have they been doing a good job? Are there people who can do a better... More »

Freddie Mac CFO Found Dead in Apparent Suicide

(Newser) - Acting Freddie Mac CFO David Kellerman was found dead this morning in what appears to have been a suicide, the Washington Post reports. Kellerman, 41, joined Freddie Mac as an analyst in 1992. He was promoted to CFO when the government took over Freddie last fall, but the company, which... More »

Taxpayers Must Become Activist Investors: Icahn

What the government did at GM should be a lesson: get rid of bad leadership

(Newser) - Barney Frank was right when he said a retention bonus is “a nice word, it turns out, for extortion,” writes Carl Icahn for the Huffington Post. “Very few managers are irreplaceable, especially in this economy”—so why do they get paid extra to stay with a... More »

AIG Execs Should Quit or Commit Suicide: GOP Senator

Grassley urges bosses to follow 'Japanese model' and fall on their swords

(Newser) - AIG's bigwigs should follow the "Japanese example" for shamed executives and fall on their swords, Iowa Sen. Charles Grassley believes. The Republican lawmaker told a local radio program that  the bosses responsible for running the business into the ground should bow before the American people and apologize, reports ABC.... More »

Paparazzi Switch Focus from Britney to Bankers

Public outrage spurs media to cover corporate excess

(Newser) - Tabloids and TV shows best known for hounding Hollywood stars are turning their cameras to bankers and captains of industry, the New York Times reports. Paparazzi now track corporate jets and snoop on lavish parties held by execs at bailed-out banks, tapping into a deep vein of public anger at... More »

Americans See a Lot of Bull on Wall Street

Most in poll give execs low grades for ethics, honesty

(Newser) - The executives who run Wall Street are bankrupt—at least, morally, say Americans in a new poll. Nearly 60% gave them poor grades for dishonesty and unethical behavior, Reuters reports. Most also blame the executives for Wall Street's mess. “We can’t act like it’s the fault of... More »

Go Ahead, Fly Those Private Jets, Cessna Ads Tell Execs

Bosses challenged to get back on board

(Newser) - Private jets may have become a despised symbol of high-flying corporate access, but that shouldn't make bosses too shy to fly, a new Cessna ad campaign tells execs. The ads, which boldly announce "timidity didn't get you this far," are part of a public relations push to fix... More »

CEO Axings Up

Downturn puts bosses in the firing line as investors lose patience

(Newser) - Americans are losing their jobs at the fastest rate in many years and chief executives are far from immune, reports the Wall Street Journal. Six publicly held firms have chucked their CEOs in the last 8 days alone. Many others—including big names like GM's Rick Wagoner, Vikram Pandit of... More »

As NBC Falters, Real Drama Is Behind the Scenes

Network moves to consolidate amid executive shakeup, poor ratings

(Newser) - When NBC announced a sweeping shakeup last week, it confirmed just how bad things are at the network, the Los Angeles Times reports. Ratings are down 14% this season, just as companies are dramatically slashing advertising budgets in the face of recession. “This is not a good time to... More »

Job-Hunting Execs Find It Tight at the Top

Financial crisis leads to surplus of six-figure jobseekers

(Newser) - Laid-off execs scrambling to find new six-figure salaries are facing fierce competition, Time reports. Thousands of high-end white-collar jobs have vanished recently, and many more are expected to go. Some top-level vacancies are still appearing, as execs retire or change jobs, but companies looking to fill their most powerful positions... More »

Wall Street Execs Ponder Slashing Their Own Pay

Bailed-out finance firms may cut compensation to silence critics

(Newser) - Top Wall Street execs are considering heading off public outrage by cutting their own pay, insiders tell the Wall Street Journal. The big financial firms pay out billions in bonuses to their execs every year. They now fear a public relations disaster is looming as critics charge that the $125... More »

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