Questions Are Raised in Trader’s Massive Fraud - NYTimes.com: “For years, investors, rivals and regulators all wondered how Bernard L. Madoff worked his magic.
But on Friday, less than 24 hours after this prominent Wall Street figure was arrested on charges connected with what authorities portrayed as the biggest Ponzi scheme in financial history, hard questions began to be raised about whether Mr. Madoff acted alone and why his suspected con game was not uncovered sooner.
As investors from Palm Beach to New York to London counted their losses on Friday in what Mr. Madoff himself described as a $50 billion fraud, federal authorities took control of what remained of his firm and began to pore over its books.”
Friday, December 12, 2008
BANK OF AMERICA PLANS TO CUT 30,000+ JOBS OVER NEXT 3 YEARS AFTER MERRILL LYNCH PURCHASE - New York Post
BANK OF AMERICA PLANS TO CUT 30,000+ JOBS OVER NEXT 3 YEARS AFTER MERRILL LYNCH PURCHASE - New York Post: “Bank of America said yesterday it plans to eliminate 30,000 to 35,000 jobs over three years after it completes its purchase of Merrill Lynch.
The cuts could affect about 11 percent of the combined companies' roughly 308,000-person work force. BofA employs about 247,000 people and Merrill about 61,000.
BofA said the expected cuts reflect the pending merger, as well as "the weak economic environment, which is affecting the level of business activity."”
The cuts could affect about 11 percent of the combined companies' roughly 308,000-person work force. BofA employs about 247,000 people and Merrill about 61,000.
BofA said the expected cuts reflect the pending merger, as well as "the weak economic environment, which is affecting the level of business activity."”
AIG MAY NOT PAY BACK $60 BILLION TO GOVERNMENT AS PROMISED IN BAILOUT PLAN - New York Post
AIG MAY NOT PAY BACK $60B TO GOV'T AS PROMISED IN BAILOUT PLAN - New York Post: “Uncle Sam may not get paid back as promised in its $150 billion bailout of American International Group, the giant insurer conceded.
AIG had agreed as a condition of its recent government lifeline to escape bankruptcy that it would repay at least $60 billion by selling valuable assets.
However, CEO Ed Liddy admitted yesterday that it may not be that easy to raise the cash.”
AIG had agreed as a condition of its recent government lifeline to escape bankruptcy that it would repay at least $60 billion by selling valuable assets.
However, CEO Ed Liddy admitted yesterday that it may not be that easy to raise the cash.”
NBC UNIVERSAL BOSS JEFF ZUCKER LOOKS TO EXTEND BEN SILVERMAN'S CONTRACT - New York Post
NBC UNIVERSAL BOSS JEFF ZUCKER LOOKS TO EXTEND BEN SILVERMAN'S CONTRACT - New York Post: “NBC Universal is in talks to extend chief programmer Ben Silverman's contract for at least another year, The Post has learned.
Silverman has told friends that he is keen to stay at the network, and now that he's improved the entertainment unit's earnings, NBCU boss Jeff Zucker is said to be leaning toward giving him another 12 months to work with the programming slate, said sources close to both men.”
Silverman has told friends that he is keen to stay at the network, and now that he's improved the entertainment unit's earnings, NBCU boss Jeff Zucker is said to be leaning toward giving him another 12 months to work with the programming slate, said sources close to both men.”
DALLAS COWBOYS TERRELL OWENS, JASON WITTEN, TONY ROMO PREPARE TO PLAY NREW YORK GIANTS - New York Post
DALLAS COWBOYS TERRELL OWENS, JASON WITTEN, TONY ROMO PREPARE TO PLAY NREW YORK GIANTS - New York Post: “It looks like the Giantsare catching the Cowboys at just the right time, with America's Team about to implode.
One day after Terrell Owens spoiled the holiday mood by saying quarterback Tony Romo was playing favorites with tight end Jason Witten, another starting player told ESPN's Ed Werder, "We are not together as a team, and that includes the coaches."
Owens claims Romo and Witten, who are friends and road roommates, conspire to draw up passing plays that exclude the wide receiver. The perception was denied throughout the organization, but it was revealed other wide receivers had spoken to offensive coordinator Jason Garrett about their roles in the offense.”
One day after Terrell Owens spoiled the holiday mood by saying quarterback Tony Romo was playing favorites with tight end Jason Witten, another starting player told ESPN's Ed Werder, "We are not together as a team, and that includes the coaches."
Owens claims Romo and Witten, who are friends and road roommates, conspire to draw up passing plays that exclude the wide receiver. The perception was denied throughout the organization, but it was revealed other wide receivers had spoken to offensive coordinator Jason Garrett about their roles in the offense.”
Detroit Free Press To End Home Delivery - WSJ.com
Detroit Dailies to Curtail Home Delivery - WSJ.com: “The publisher of the Detroit Free Press, the country's 20th largest paper by weekday circulation, is expected to announce next week that it will cease home delivery of the print edition of the newspaper on most days of the week, according to a person familiar with the company's thinking.”
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