Yahoo Working On Two Deals Worth $150-$200 Million. The 10 Richest People In The World. Partner Day At Goldman. The list of new Goldman Sachs partners is out!
The bank tapped 70 new "partnership managing directors. " That is a much smaller class compared to the 110 tapped in 2010. Phone calls from Lloyd Blankfein and Gary Cohn letting the bankers know they've made partner should have started around 8:30 a.m. The Highest (and Lowest) Paying College Majors. According to a new study conducted by the U.S.
Census Bureau, the average college graduate will earn $2.4 million over his or her lifetime. Engineering majors, the highest-earning major, will earn more than $3.6 million. The study, which is part of the 2011 American Community Survey, showed that the choice of major can make the difference between earning less than a million dollars — as in the case of a childcare worker with an education degree — or more than $6.5 million, as a physician or surgeon who majored in biology.
Read: The Highest (and Lowest) Paying College Majors. IMF warns Lehman Bros meltdown could happen again. Let us not delude ourselves: without growth, the future of the global economy is in jeopardy IMF Managing Director Christine Lagarde issued a blunt warning to the Fund’s 188 member countries today that they were losing momentum in reforming the global financial system.
“Let us not delude ourselves: without growth, the future of the global economy is in jeopardy,” she said. “One lesson is clear from history: reducing public debt is incredibly difficult without growth. High debt, in turn, makes it harder to get growth,” she said. She said the global financial system was not much safer than in 2008, when the collapse of Lehman Brothers triggered a global meltdown. IMF: Greece Will Need A Third Bailout. Ben Bernanke As A Child.
Michael Zacka: Environmental Ethics: Bernie Madoff's Pyramid Scheme Is an Important Lesson. 2008 Richard Webb, used under a Creative Commons Attribution-ShareAlike license Mention "unethical business practices" and no doubt Bernie Madoff comes to mind, who bilked investors of $18 billion in a pyramid scheme prosecutors called the largest fraud in U.S. history.
But perhaps we should also consider the Fukushima Daiichi nuclear crisis from an ethical standpoint. Chasing Bernie Madoff: Film Trailer For New Documentary Starring Harry Markopolos And The Incredibly Inept SEC. This is an outstanding trailer, with several extremely embarrassing clips for the SEC.
Runs 2 minutes. Stories from our Madoff archives: Madoff Trustee Sues JPMorgan For $6.4B: "They Were At The Very Center Of Fraud" BREAKING: Bernard Madoff's Brother Peter To Plead Guilty, Forfeits $143 Billion, Will Serve 10 Years. WSJ, USA Today Bernard Madoff's younger brother, Peter, is expected to plead guilty to criminal charges and has agreed to go to prison for 10 years, in the first admission of wrongdoing by a family member in a multibillion-dollar investment business that turned out to be "just one big lie.
" The collapse 3½ years ago of Bernard Madoff's Ponzi scheme wiped out the life savings of hundreds of investors, caused losses at funds and banks all over the world, and triggered a criminal investigation that has resulted in the guilty pleas of seven people, including Bernard Madoff. Madoff also agreed to the criminal forfeiture of $143 billion, including all of his real estate and personal property. The $143 billion, representing the amount of money believed to have flowed through the business accounts during the multi-decade Ponzi scheme, is included in the criminal forfeiture agreement, though authorities know that Peter Madoff's assets would never approach that figure. JPMorgan Chase CEO Gets Warm Hill Welcome From Senators Flooded With Millions in Wall St. Donations. This is a rush transcript.
Copy may not be in its final form. JUAN GONZÁLEZ: JPMorgan Chase CEO Jamie Dimon testified on Capitol Hill Wednesday for the first time since his bank lost up to $3 billion in a risky speculative bet. Dimon apologized for the loss but failed to explain how the money was actually lost. He also continued his voice his opposition to new banking regulations.
‘The Strauss-Kahns’: a tale of sex, secrets and politics - FRANCE. Lloyd Blankfein Courtroom Sketch. Andrew Ross Sorkin Is Out With His List Of Questions For Jamie Dimon. Obama Empowers Jeffery Immelt as the Ultimate Crony Capitalist. Looking for an internship?
If so, Intellectual Takeout has an opportunity for you. We have plenty of work to do as well as ideas to spread, and we need your help to get it done. If you're interested in an internship with Intellectual Takeout, you likely share our passion and you're excited about the possibility of working for a great cause. That said, you might have a few questions about what "... An American influx at glamour fest. Goldman commodities crown slips as traders exit. Goldman's Passage to India. Nestled in the diplomatic enclave of the capital city here sits the Leela Palace hotel. This week, its ninth floor has been home to the board of Goldman Sachs . This is the first time the firm’s directors have gathered in India and one of only a handful of times they have met outside of the United States. This meeting is viewed as a nod to India’s growing importance, both to Goldman and to the American economy. Goldman and other banks are increasingly looking overseas for business to offset a slowdown at home.
Also this week, leaders from Brazil, Russia, India, China and South Africa are meeting here for their 2012 summit meeting. Goldman board deal: Great for Blankfein, no one else. By Eleanor Bloxham, CEO of The Value Alliance and Corporate Governance Alliance Goldman Sachs CEO Lloyd Blankfein FORTUNE -- Deal making runs deep in the veins of Goldman Sachs -- and they are good at it.
But one recent transaction which will be in play as the board meets in India today isn't a good deal for everyone: governance at Goldman just got worse. For its part, the bank seems to be pleased with its side of the bargain with the American Federation of State, County and Municipal Employees pension fund. Anyone Left To Beat On Goldman Sachs? Stress-tested banks set to hike dividends. By Ronald D.
Orol, MarketWatch WASHINGTON (MarketWatch) — The Federal Reserve is expected to allow a number of the big U.S. banks to hike dividends to as much as 26% of earnings as part of the latest round of stress test results to be released Thursday afternoon, according to analysts and attorneys. Top bank investors earn millions in dividends Top on the list of the highest dividend earners are Sunil Shah, a director at KCB (Sh134.1 million), James Mwangi, the chief executive of Equity Bank (pictured) with a payout of Sh127.6 million, the family of the Nelson Muguku of Equity Bank (Sh75.1 million) and Gideon Muriuki, the CEO Cooperative Bank (Sh20.1 million). They have become the new oligarchs of Kenya’s equity market. . Photo/FILE The super profits announced by Kenya’s banking sector last year have earned individuals with significant shareholding in listed lenders millions of shillings in dividends.
The sector’s profitability touched a new high, buoyed by increased uptake of loans as the gloom that hung over the economy in the preceding years receded, paving way for a 7.7 per cent growth in pretax profits to Sh80 billion in the year to November. Shuttered LPS unit hit with criminal charges. In the great mortgage meltdown that continues to afflict banks, MERS and its bank-owners attracted a massive volume of criticism, which allowed Lender Processing Services to fly under the radar of public criticism. LPS inked a consent decree with federal regulators back in April, forcing it to upgrade its processes. Even then, the news was overshadowed by the consent decrees signed by MERS and bank suit. While LPS never quite emerged as a public villain, it has definitely been in the sights of states and private plaintiffs’ lawyers. Big Bank CEOs Walk Away With Big Bucks in 2011. Banks may have been the hardest hit this year in the stock market, but the CEOs who run them are doing just fine.
According to data from Rochdale Securities analyst Dick Bove, the heads of major banking groups including JPMorgan Chase (JPM), Goldman Sachs (GS) and Bank of America (BAC) are out-earning their employees and shareholders even as shares of bank stocks as a group lost about 26% this year. Bove found that while the 23 financial institutions he follows saw their stock prices and market cap drop by more than 30% and 11%, respectively, bank CEO compensation averaged $7.74 million.
That means the banking heads brought in 50 to 100 times the average worker. Take BofA’s CEO Brian Moynihan who will earn $2.26 million this year while his bank’s market value dropped 60% – the worst in Rochdale’s study. Lloyd Blankfein: From Humble Beginnings to CEO of Goldman Sachs. Born in New York City, the man who would one day lead Goldman Sachs sold concessions at Yankee Stadium as a boy. He grew up in public housing in Brooklyn, his father a postal clerk and his mother a receptionist. Lloyd Blankfein learned from a young age that to succeed in life you had to work hard. He graduated as valedictorian from Thomas Jefferson High School in 1971 and earned his Bachelor of Arts degree from Harvard College in 1975. Continuing his education at Harvard, he earned his J.D. in 1978. Bankers are the victims of their own inflated pay. Children 'dumped in streets by Greek parents who can't afford them' Jamie dimon: Latest News, Videos, Photos.
Retired Banker Takes Big Loss on State Parkway Condo - Deal Estate - December 2011. Finance, not protest is taming the banks - Business Analysis & Features - Business. Analysts predict a volatile market, moderate improvement in stocks for 2012.