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ANALYSIS
March 2, 2009
Sagging Index no longer reflects what’s going on in the market, some say, Replacements? Google it, to start.
March 2, 2009
Downward price spiral will actually boost the cost of capital for most companies. CFOS, take note.
March 2, 2009
The latest bailout at AIG could be a preview of how the president will deal with Wall Street.
March 2, 2009
No corporate defaults. Big debt offerings. Percolating CP issuance. Things may be looking up in the capital markets.
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January 30, 2009 7:50 AM ET
(Reuters) — New York Attorney General Andrew Cuomo may demand the return of $4 billion in bonuses paid by Merrill Lynch & Co just before it was acquired by Bank of America Corp, Bloomberg said, citing a person familiar with the matter. Mr. Cuomo also wants to know what Bank of America Chief Executive Kenneth Lewis knew about the accelerated bonuses and about Merrill’s surprise $15 billion net loss in the fourth quarter, the person told the agency. The attorney general’s office is looking at whether the companies’ shareholders had all necessary information about Merrill’s finances and whether federal bailout loans to Bank of America were used properly, the Bloomberg report said. Mr. Cuomo is now looking at whether the handling of data on the losses and on Merrill’s bonuses, paid in December instead of their usual date in January, may have violated New York securities laws and warrant the imposition of fines, the person told the agency. Reuters could not immediately reach Bank of America and Mr. Cuomo’s office for comment. Mr. Cuomo is working with Neil Barofsky, the special inspector general of the federal government’s $700 billion Troubled Asset Relief Program, to examine executive pay at lenders that get TARP capital. Bank of America got $25 billion last year and the additional $20 billion this month. John Thain, former chief executive of Merrill, was ousted from Bank of America on January 22 after the bank discovered surprise losses at the brokerage, three weeks after the $19.4 billion merger closed.
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Latest News
• Reversal? Stanford advisers sue the SEC
March 5, 10:52 AM EST
• Third of companies not complying with new tax reporting rule
March 4, 4:25 PM EST
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March 4, 3:31 PM EST
• Influential advisory group to look at fair-value, off-balance sheet accounting
March 4, 4:16 PM EST
• In a first, NY State hopes to sell bankrupt insurer
March 4, 3:59 PM EST
CRAIN'S BENEFITS OUTLOOK 2009
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