- Jamie Dimon seen as good fit for Treasury
- BofA May Name Stopgap Chief If Board Needs More Time for Search
- Goldman’s Response to Questions About A.I.G.
- UK: Top bank traders face pay disclosure
- Investment Firm Splits in Two Over Internal Rifts
- Microsoft, News Corp. In Early Talks On Web Deal
- Would Bing switch really dent Google?
- G.E. and Vivendi Halt Talks Over Stake in NBC
- EBay Search Glitch Damps Sales
- ‘Twilight’ Sequel Has 3rd Best-Opening Ever With $140.7 Million
Jamie Dimon seen as good fit for Treasury – NY Post
As support for Treasury Secretary Timothy Geithner wanes on Capitol Hill amid frustration with the Obama administration’s handling of the economy, JPMorgan Chase CEO Jamie Dimon is emerging as a potential replacement.
Sources tell The Post that a number of policy makers have begun mentioning Dimon as a successor to Geithner, whose standing in Washington has suffered because of the country’s high unemployment rate, the weakness of the dollar, the slow pace of the recovery and the government’s mounting deficit…..
BofA May Name Stopgap Chief If Board Needs More Time for Search – Bloomberg
Bank of America Corp.’s board may extend its search for a permanent new chief executive officer into 2010 if directors can’t settle on a candidate in the next three days, according to people familiar with the matter.
The directors, who met Nov. 20, may be willing to go past their Nov. 26 target and the Dec. 31 retirement of CEO Kenneth D. Lewis if it means getting a better choice, according to a person familiar with the deliberations. At least four external candidates, including Citigroup Inc. director Michael O’Neill, rebuffed approaches. Options include an interim chief or a delay in Lewis’s retirement…..
Goldman’s Response to Questions About A.I.G. – NY Times
This memo from a Goldman Sachs spokesman, Lucas van Praag, was sent to Gretchen Morgenson, a business columnist for The New York Times, in response to questions she asked about the report issued Nov. 17 by the special inspector general for the Troubled Asset Relief Program (referred to in the memo as SIGTARP) on the government’s September 2008 rescue of the American International Group, the giant insurance company. (The memo cites Ms. Morgenson’s questions in boldface.) To read Ms. Morgenson’s take on the report, see her latest Fair Game column…..
Dear Gretchen:
Here are the answers to your questions. First, we would like to make some preliminary comments:
The SIGTARP report runs to 43 pages including appendices, but focuses on Goldman Sachs in just three paragraphs. The Conclusions and Lessons Learned sections of the report on pages 28 to 31, do not mention Goldman Sachs once……
UK: Top bank traders face pay disclosure - Financial Times
Britain’s banks will be forced to disclose the pay and bonuses of their star traders under plans to improve the way the City of London’s biggest financial institutions are run.
However, the Treasury has gone cold on the idea that the identities of the traders be made public, fearing the move might be seen as vindictive or that it could leave them open to personal attack.
Instead, Sir David Walker’s government-commissioned report into bank governance is expected to propose that all bank staff earning above a certain figure be listed anonymously in different salary bands…
Investment Firm Splits in Two Over Internal Rifts – Wall Street Journal
Chieftain Capital Management Inc., an iconoclastic investment firm with a strong two-decade track record, is splitting up following personality conflicts among its leaders, according to people familiar with the matter.
Co-founder Glenn Greenberg, who came into the headlines nearly two years ago for his campaign against management at cable company Comcast Corp., plans to stay at the firm, according to a letter that he, co-founder John Shapiro and two partners sent to investors. Mr. Greenberg’s firm will be renamed Brave Warrior Advisors, according to a person familiar with the matter…..
Microsoft, News Corp. In Early Talks On Web Deal – Wall Street Journal
News Corp. has held discussions with Microsoft Corp. about a partnership that could result in News Corp. removing its newspaper content from Google Inc.’s search engine while continuing to feature it on Microsoft’s online properties, according to people familiar with the matter.
The talks are still at a very early stage and may not result in a deal, according to these people. Among the most thorny issues, one of these people said, are the terms under which Microsoft would compensate News Corp., if at all, to feature its news content, which ranges from The Wall Street Journal to the Sun of the U.K…..
Would Bing switch really dent Google? – Guardian
The war of the search engines enters a new phase as Microsoft considers paying publishers to put their content on its search enging Bing – presumably in the hope they will do as Ruper Murdoch has suggested and remove it from Google. But how much would this actually hurt Google?
A recent German survey tried to determine what the effect on Google would be if most of the country’s publishers – with their nearly 1,000 domains – removed their content from the search engine. The 148 publishers signed a declaration in Hamburg as a protest against what they saw as being financially exploited. But would the first 10 search results on the German Google site look different? Would German Google be empty?…..
G.E. and Vivendi Halt Talks Over Stake in NBC – NY Times
Talks between General Electric and Vivendi over the future of NBC Universal have stalled, according to people involved in the discussions who spoke on condition of anonymity because they were part of confidential negotiations.
The sides, which jointly own NBC Universal, appear to be at least $500 million apart on how to value the network, which G.E. is hoping to sell to Comcast, the big cable television company…
EBay Search Glitch Damps Sales – Wall Street Journal
A search glitch at eBay Inc.’s main e-commerce sites over the weekend damped sales in the run-up to the crucial holiday shopping season.
Although auctions continued to function, sellers began noticing problems with eBay’s search system Saturday morning that prevented users from finding products on the U.S. and some international eBay sites. EBay said search functions were fully restored Sunday morning…..
‘Twilight’ Sequel Has 3rd Best-Opening Ever With $140.7 Million – Bloomberg
“The Twilight Saga: New Moon,” the second film in the hit vampire series, recorded the third- biggest opening weekend in box office history with $140.7 million in ticket sales for Summit Entertainment LLC.
“New Moon” set a second record for a single-day performance with $72.7 million in receipts on Nov. 20, the day it debuted, researcher Hollywood.com Box-Office said in an e- mailed statement. Last year’s “Twilight” movie made $69.6 million in its opening weekend, according to Box Office Mojo, a California-based researcher…..
Tags: Bank of America, Bonuses, Compensation, Goldman Sachs, Google, Hedge funds, Jamie Dimon, JP Morgan, Ken Lewis, Microsoft, Tim Geithner, U.S. Treasury
