Boeing boss Jim McNerney has been the recipient of much good news lately: The latest was that he had been tapped to lead the President’s Export Council, an advisory committee meant to help America increase its international trade. Ironic, perhaps, since McNerney allegedly wants to export Boeing’s jobs. Continue reading Will Boeing’s CEO Repay America by Hiring in China? Will Boeing’s CEO Repay America by Hiring in China? originally appeared on DailyFinance on Thu, 11 Mar 2010 16:06:00. Filed Under: Company News , Economy , People , Boeing Permalink | Tweet this! | Comments

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Will Boeing’s CEO Repay America by Hiring in China?

Chile’s 8.8-scale earthquake on Saturday came at the end of the summer harvest for Latin America’s largest economy and a major supplier of fruit, wine and fish to the U.S. Some analysts say higher prices for Chilean food exports are likely, although the full extent of the damage has yet to be determined. Continue reading Chilean Earthquake’s Tremors May Be Felt in American Consumers’ Stomachs Chilean Earthquake’s Tremors May Be Felt in American Consumers’ Stomachs originally appeared on DailyFinance on Wed, 03 Mar 2010 13:35:00. Filed Under: Economy Permalink | Tweet this! | Comments

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Chilean Earthquake’s Tremors May Be Felt in American Consumers’ Stomachs

Wells Fargo CEO John Stumpf made $21.3 million last year, up from a mere $8.8 million in 2008. Continue reading Wells Fargo Chief Makes $21.3 Million Wells Fargo Chief Makes $21.3 Million originally appeared on DailyFinance on Thu, 04 Mar 2010 05:00:00. Filed Under: Company News , Bank of America , Citigroup , Wells Fargo & Co. Permalink | Tweet this! | Comments

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Wells Fargo Chief Makes $21.3 Million

After the U.S.’s $6.4 billion arms sale to Taiwan in January, some Chinese military members have advocated retaliating by dumping China’s U.S. bond holdings. With $755 billion in U.S. bonds, China has the power to severely disrupt America’s economy. But such a move would hurt China big time, too. Continue reading Will China Weaponize U.S. Debt After Arms Sale to Taiwan? Will China Weaponize U.S. Debt After Arms Sale to Taiwan? originally appeared on DailyFinance on Sun, 28 Feb 2010 10:00:00. Filed Under: Economy Permalink | Tweet this! | Comments

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Will China Weaponize U.S. Debt After Arms Sale to Taiwan?

Evidence provided by New York Attorney General Andrew Cuomo did not directly contradict the SEC’s version of events regarding its settlement with Bank of America, compelling Judge Jed Rakoff to approve the deal between the bank and the regulator. Continue reading Latest Legal News: Judge Unconvinced by Cuomo’s Evidence in BofA-SEC Case Latest Legal News: Judge Unconvinced by Cuomo’s Evidence in BofA-SEC Case originally appeared on DailyFinance on Mon, 22 Feb 2010 14:30:00. Filed Under: Company News , Bank of America Permalink | Tweet this! | Comments

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Latest Legal News: Judge Unconvinced by Cuomo’s Evidence in BofA-SEC Case

This Monday, A judge will decide whether NY AG Andrew Cuomo’s case concerning Bank of America’s failure to disclose Merrill Lynch’s losses should be settled or go to trial in March. Continue reading Latest Legal News: Decision on Cuomo’s Case Against BofA Due Monday Latest Legal News: Decision on Cuomo’s Case Against BofA Due Monday originally appeared on DailyFinance on Sat, 20 Feb 2010 14:10:00. Filed Under: Columns , Bank of America Permalink | Tweet this! | Comments

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Latest Legal News: Decision on Cuomo’s Case Against BofA Due Monday

The attorney who oversaw Toyota’s defense efforts against rollover lawsuits in the U.S. claims the automaker concealed key evidence from the plaintiffs. If it’s true, we’ll find out soon: Congress has subpoenaed the documents that he says prove it. Continue reading Latest Legal News: Toyota Whistle-Blower to Give Documents to Congress Latest Legal News: Toyota Whistle-Blower to Give Documents to Congress originally appeared on DailyFinance on Fri, 19 Feb 2010 10:52:00. Filed Under: Company News , Columns , Bank of America , Toyota , Autos Permalink | Tweet this! | Comments

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Latest Legal News: Toyota Whistle-Blower to Give Documents to Congress

The bank has gone after a Massachusetts couple’s future retirement home in Florida, for which they had paid cash. Despite protests from the couple, the bank came in, removed the couple’s belongings, changed the locks and turned off the utilities. Continue reading Latest Legal News: BofA ‘Forecloses’ on a House Bought With Cash Latest Legal News: BofA ‘Forecloses’ on a House Bought With Cash originally appeared on DailyFinance on Mon, 15 Feb 2010 15:00:00. Filed Under: Company News , Columns , Bank of America Permalink | Tweet this! | Comments

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Latest Legal News: BofA ‘Forecloses’ on a House Bought With Cash

The Washington Post reports that American International Group ( AIG ) is poised to pay workers in its Financial Products Group (FPG) a $100 million bonus today. FPG sold credit default swaps (CDSs), a form of bond insurance, without reserving against the possibility that it would have to pay claims on them. And that group is primarily responsible for America’s $182.3 billion AIG bailout in September 2008. In a normal business, you pay bonuses to top-performing employees if the business earns a hefty profit. So, of course, AIG must have earned a profit, right? Not exactly. It lost $99 billion in 2008 and $5 billion in the first three quarters of 2009. So why do these people now deserve a bonus? Continue reading Here’s a Suggestion for AIG and Its $100 Million Bonus Plan Here’s a Suggestion for AIG and Its $100 Million Bonus Plan originally appeared on DailyFinance on Wed, 03 Feb 2010 12:10:00. Filed Under: Goldman Sachs , American International Group , INC. Permalink | Tweet this! | Comments

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Here’s a Suggestion for AIG and Its $100 Million Bonus Plan

Bank earnings season is under way, and with the financial results will come disclosures about average per-employee compensation that politicians seeking support for additional regulations or taxes on big banks will pounce on. Some of the proposals may make their way in some form into President Obama’s financial reform plan. Continue reading Why Politics Makes It Hard to Fix the Banks Why Politics Makes It Hard to Fix the Banks originally appeared on DailyFinance on Sun, 31 Jan 2010 09:00:00. Filed Under: Economy , Bank of America Permalink | Tweet this! | Comments

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Why Politics Makes It Hard to Fix the Banks