Category Archives: Wrongdoing

Google the Underdog?

By doris | Published: August 29, 2009

Full Story atstanleybing.blogs.fortune.cnn.com The massive machinery of the tech business is mobilizing against a common adversary. That’s right, in spite of all it’s done to transform our world and define free, open digital space, nobody in the business seems to like the Goog (GOOG). In fact, the operators of the Death Star in Redmond (MSFT) [...]

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‘Chrysler made a big mistake’ – one dealer’s story

By doris | Published: July 21, 2009

Full Story at money.cnn.com CNNMoney.com) — After filing for bankruptcy, Chrysler in May notified almost 800 dealers around the U.S. that they would lose their franchise licenses and be kicked out of the restructured automaker’s dealer network. Steve Biegler, who runs the dealership his grandfather started, was one of those targeted. Last week, Chrysler sent [...]

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Pennsylvania withholds July pay

By doris | Published: July 19, 2009

Full Story atmoney.cnn.com NEW YORK (CNNMoney.com) — Pennsylvania state workers’ paychecks are a little light these days. Struggling to resolve a 17-day-old budget impasse, Pennsylvania is withholding pay for 69,000 state employees for time worked after July 1. Workers Friday received only 70% of their salary, covering days worked in June. Starting two weeks from [...]

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U.S. Auto Task Force Chief Quits

By doris | Published: July 13, 2009

Full Story NPR.org AP, July 13, 2009 · Steven Rattner, head of the Obama administration’s auto task force, is leaving that post and will be replaced by former steelworkers official Ron Bloom. The administration said Monday that Rattner decided to return to private life and his family in New York City. Rattner won praise for [...]

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Electric Utilities Fail to Promote Their Energy-Efficiency Initiatives

By doris | Published: June 11, 2009

Full Story At money.cnn.com gigaom.com) — Electric utilities are increasingly offering energy-efficiency programs, but there’s a good chance their customers don’t know about them. That’s according to a survey by market research firm Gartner that found that while the vast majority of respondents said they were willing to participate in programs that could help them [...]

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Recession hits Social Security hard

By doris | Published: May 13, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — The recession has taken its toll on Social Security. The officials who oversee the program forecast Tuesday that the Social Security trust fund will be exhausted by 2037 — four years earlier than estimated last year. The trust fund reflects a $2.4 trillion surplus paid into Social [...]

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AIG: Doomed to fail?

By doris | Published: April 29, 2009

Full Story At money.cnn.com NEW YORK (CNNMoney.com) — Once a titan in the insurance world, AIG is a shadow of its former self, and experts say the company is likely doomed for failure. That’s partly because AIG (AIG, Fortune 500) is slowly getting rid of its strong, moneymaking businesses as it attempts to pay back [...]

Also posted in Banking, Bankruptcy, Business, Economy, Failing, Financial, Government, Insurance, Money, Pay Back, Security | Leave a comment

Fannie, Freddie To Pay $210M In Bonuses

By doris | Published: April 5, 2009

Full Story At  CBS News (AP) Mortgage finance giants Fannie Mae and Freddie Mac plan to pay more than $210 million in bonuses through next year to give workers the incentive to stay in their jobs at the government-controlled companies. The bonuses for more than 7,600 employees were disclosed in a letter from the companies’ [...]

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AIG Credit Swapper Under Investigation

By doris | Published: March 20, 2009

Full Story At  CBS News (CBS) As recently as 2007, a discreet office in the heart of London made a vast fortune for insurance giant AIG. The man who ran it, 54-year-old American Joseph Cassano, and his team at AIG Financial Products were selling a financial instrument called credit default swaps. In simplest terms, reports [...]

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Geithner: AIG must pay back bonus money

By doris | Published: March 19, 2009

Full Story At  CNN.com “We will impose on AIG a contractual commitment to pay the treasury from the operations of the company the amount of the retention awards just paid,” Geithner wrote. “In addition, we will deduct from the $30 billion in assistance an amount equal to the amount of those payments.” That would be [...]

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SEC Speeds Way To Fight Corporate Bad Guys

By doris | Published: February 8, 2009

Full Story At CBS News (AP) The new head of the Securities and Exchange Commission is ending a practice that she said had slowed the agency’s enforcement efforts against corporate wrongdoing. In her first public address as SEC chairman, Mary Schapiro said Friday that she was ending a two-year policy requiring agency enforcement attorneys to [...]

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