This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
Tag: New York Times
-
Questions about Countrywide-Bank of America deal
Countrywide Financial reported Friday that its mortgage foreclosure rate doubled last month compared to a year ago.
That prompted the Charlotte Business Journal to ask Bank of America if it was going forward with its roughly $4 billion stock deal to acquire Countrywide, the nation’s largest mortgage lender.
Yes, responded a spokesman for Bank of America, which is based in Charlotte. “We conducted extensive due diligence,” he told the Business Journal. (Story continues below interactive map.)
MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.That wasn’t the only question about the deal.
In its story about Countrywide’s increased foreclosure rate, The Wall Street Journal reported that Bank of America’s takeover still has several hurdles. The Journal said SRM Global Master Fund LP plans to vote against the deal because it undervalues Countrywide.
SRM, a hedge fund, holds 5.5 percent of Countrywide, founded by CEO Angelo Mozilo in 1969.
Read related stories: Business · Mortgage · Subprime
-
Songwriter Has More Than a Feeling About Huckabee
This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
-
Blackstone’s Peterson starts doling out a fortune
The Nuclear Threat Initiative may soon receive a big boost from the deep-pocketed Peter Peterson.
Peterson today announced the establishment of a foundation whose aims include stopping the proliferation of nuclear weapons. (Story continues below interactive map.)
MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.
Peterson reaped $1.8 billion through the IPO of Blackstone Group, which he chairs. After a career that included a stint as commerce secretary under Richard Nixon, he is now ready to start giving away the bulk of his fortune.He has committed $1 billion to the foundation, which will be headed David Walker, who is currently U.S. comptroller general.
Peterson is a former chair of the Nuclear Threat Initiative, which was founded by two Georgians – former Sen. Sam Nunn and CNN founder Ted Turner, who is a major contributor to the group.
The organization’s aim is to strengthen global security by preventing the spread of nuclear, biological and chemical weapons. Its board is made up of high-profile figures from the U.S. and abroad, including former defense secretary William Perry, Sen. Richard Lugar and Prince El Hassan bin Talal of Jordan. Warren Buffett is an adviser.
The group has raised awareness about the issue through projects such as a film called Last Best Chance, which described how terrorists might buy or steal the materials to make a nuclear bomb, assemble it and smuggle it into the U.S. The movie featured Fred Thompson playing a sage and somber president, described by the New Yorker in 2005 as “the one jarringly unrealistic note in the picture.”
Last month, the Google Foundation announced a $2.5 million grant to the initiative, for a program addressing infectious disease in southeast Asia.
Prior grants to the organization include $7 million from the Susan Thompson Buffett Foundation, $3.2 million from the Better World Fund and $750,000 from the Bill and Melinda Gates Foundation.
Read related stories: News · Philanthropy
1 Comments
-
#1. Kim 02.15.2008
Prince El Hassan bin Talal is the antichrist and will soon become the ruler of the world.
Leave a Comment
-
-
Jon Stewart’s teleprompter is working again
After 100 days without writers, TV shows began to return to normal yesterday after most of the striking writers voted to return to work.
Writers for Comedy Central’s The Daily Show were back to work on Wednesday morning, making Jon Stewart one of the first late-night hosts to return to his pre-strike glory.
Before cameras rolled in the Manhattan studio, Stewart seemed pretty pumped up. Bruce Springsteen’s “Born to Run” blared, and he mouthed lyrics and drummed along on his desk while looking over his first script in more than three months. (Story continues below interactive map.)
MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.Stewart began his newscast musing, “Words in the prompter, script on my desk, vending machine upstairs out of Funyuns … The writers are back!” After a celebratory dance, and loud cheers from his studio audience, he announced, “It is no longer ‘A Daily Show’ It is once again, The Daily Show! We’re back, baby!”
The Associated Press reports that ratings for The Daily Show and The Colbert Report haven’t actually been hurt by the strike. The Daily Show has had around the same number of viewers this January as in 2007 (1.6 million), and The Colbert Report viewers have gone up 6 percent from last year.
It’s possible that Stewart and Stephen Colbert can pull off their own jokes without relying as heavily on their writers.
At yesterday’s Daily Show, Stewart and Colbert riffed for a while via telecast before settling in to tape the segment the writers had prepared for them, which joked about a coffee-getters union strike. The joke was a little forced in comparison with the hosts’ off-the-cuff banter.
After The Daily Show wrapped for Wednesday, the studio audience got to watch Stewart tape the introduction for The Daily Show: Global Edition, which is filmed once a week. This time, Stewart’s opening joke was improvised, inspired by a question an audience member asked him before the show began.
Is it possible that Stewart’s better without a script?
Read related stories: Entertainment · Television
1 Comments
-
#1. Gunnar Jacobson 02.14.2008
No way! Yesterday’s show was much funnier than non-writers’ shows.
Leave a Comment
-
-
Tisch Group Lobbies Hard for Tax Cuts
This post was archived from createpositivechange.org/. View the original on the Wayback Machine.
-
Kerry Killinger sets the tone at Washington Mutual
Troubled Washington Mutual, the nation’s largest savings and loan, has seen its stock price nearly double from its lows over the past month. Takeover speculation has certainly helped, as have the Federal Reserve’s interest rate cuts.
But don’t discount the importance of the message chairman and CEO Kerry Killinger sent when he decided not to take a 2007 bonus that he had earned. Executives at other companies caught in the real estate mess — Countywide Financial and D.R. Horton, for example — have not set the same tone of accountability. (Story continues below interactive map.)
MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.Killinger, who also sits on the board of Safeco, qualified for a 2007 bonus of $1.2 million, about a third of his target level, based on Washington Mutual’s financial performance for the year. His 2006 bonus was $4 million.
President Stephen Rotella and CFO Thomas Casey will receive bonuses for 2007, but Washington Mutual said its executives would forfeit two-thirds of their restricted stock awards for the year.
This week, Killinger estimated that Washington Mutual’s net interest income increases by $150 million for every quarter-point cut by the Fed. Doing the math, the 1.25 points the Fed shaved in January equals $750 million.
More Fed cuts could follow.
In late December, we wrote about how the directors at Washington Mutual were staying the course in troubled times. Five weeks later, that appears to be a solid approach.
Read related stories: Business · Mortgage · Subprime
1 Comments
-
#1. steven copp 02.02.2008
wm is more soild that you think ,in if fact you will see $25.00 stock within 60 day even before the next fed cut .there were push down hard with cfc news now jump on before you miss out
Leave a Comment
-
-
Microsoft offers $44.6 billion for Yahoo!
Such a deal has long been speculated about because of Yahoo’s sagging prospects. This morning Microsoft made it a reality by offering $44.6 billion ($31 a share) for Yahoo! That’s more than a 60 percent premium over Yahoo’s closing price Thursday.
Henry Blodgett over at Silicon Alley Insider calls it a “brilliant” move by Microsoft. (Story continues below interactive map.)
MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.The two companies currently share a strong direct link. Maggie Wilderotter, a member of the Yahoo! board of directors, is a former senior vice president at Microsoft.
She is chairman and CEO of Citizens Communications and a director for Xerox and Tribune Co.
Read related stories: Business · Internet · Media
1 Comments
-
#1. WeCanChangeTheWorld 02.01.2008
Great, just in time to make my skeletal muckety social network map of the Big Eight media corporations interlinking directorships outdated. http://wecanchangetheworld.wordpress.com/2008/01/31/the-8-mega-media-corporations-sony-added-in-as-a-bonus-makes-9-skeletally-mapped-on-muckety/
Leave a Comment
-
-
Bert Fields, celeb lawyer, terrorizes opponents
You’re in trouble. You want a lawyer. And not just any lawyer. You want a scary lawyer.
Pick up the phone and call Bertram “Bert” Fields, who is known as “L.A.’s scariest lawyer.”
Fields, 78, has been representing entertainment celebs for more than 50 years. (Story continues below interactive map.)
MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.Just the short list of his clients includes Edward G. Robinson, Jack Webb, The Beatles, Dustin Hoffman, Michael Jackson, Elaine May, Michael Ovitz, Tom Cruise, Steven Spielberg and Paramount Pictures.
Fields’s luster has been tarnished lately by his connection to Anthony Pellicano, the private investigator who goes on trial in federal court next month. However, the scary lawyer is still getting lots of work.
Recently, he’s been in the news as attorney for Tamara Mellon, the co-founder of the Jimmy Choo luxury shoe empire who is suing her mother, Ann Yeardye.
Fields also represented publisher Judith Regan, who recently reached and out-of-court settlement of her wrongful termination suit against HarperCollins and its parent company, News Corp.
The Regan suit pitted Fields against a former client, News Corp. head Rupert Murdoch. Typically, that association did not lead Fields to soften his rhetoric.
“They’ve chosen war and they will get exactly that,” he said in December after the suit was announced. “She (Regan) won’t take this lying down.”
This wasn’t the first time Fields compared litigation to war.
“If I were a general, I would attack, and keep pressing the attack — to throw the opponent off balance to change the odds and make a settlement your way much more favorable,” he told The New Yorker’s Ken Auletta in 2006. “…It forces the other side to think. ‘Hey, I may lose this case. Let’s settle it.’”
Fields grew up in Los Angeles, the son of a surgeon who included Mae West and Groucho Marx among his clients. Fields graduated from Harvard Law School in 1952. He taught briefly at Stanford Law School and then served in the Air Force as a lawyer. In 1955, he began practicing law in Los Angeles.
From the beginning, he fashioned a take-no-prisoners style.
“If he’s on the other side, he’s a nightmare,” one Fields client told Auletta. “He’s going to make your life miserable.”
At the same time, Fields told Auletta that he was careful to keep the volume down in the courtroom.
“A jury doesn’t want some guy shouting at them,” he said. “Even when you think the other side is a scumbag – it doesn’t win you points.”
A partner in the Los Angeles firm of Greenberg, Glusker was charging $900 an hour in 2006, according to Auletta.
In addition to his practice of law, Fields is the author of two non-fiction works on history and of two mysteries. Written under the pseudonym of “D. Kincaid,” the novels feature Harry Cain, a lawyer.
Fields and his firm had a long association with Pellicano, the private investigator who was charged in 2006 with wiretapping, racketeering, bribery and other charges.
Fields has said that he had no knowledge of Pellicano using illegal methods to obtain information during the course of his work for the firm.
Pellicano’s trial, in which he will represent himself, begins on Feb. 27.
Read related stories: Celebs · Law · News
0 Comments
-
There are no comments yet, be the first by filling in the form below.
Leave a Comment
-
-
SEC is Democrat-free
Annette Nazareth, the only Democratic commissioner at the Securities and Exchange Commission, leaves office today.
She had announced her departure several months ago.
By law, the commission can have only three members of one party. The other Democratic commissioner, Roel Campos, departed in September to head Cooley Godward’s Washington office. (Story continues below interactive map.)
MAP HINTS: Click expands a name. Control+Click centers map on a name. Solid lines are current relations. Dotted lines are former relations. For advanced tools choose Tools > Options from the menu at top. More help. Not seeing the maps? Please go here to check for the latest version of Java.The commission is headed by Christopher Cox, former Republican congressman from California. The other two commissioners, both Republicans, are Paul Atkins and Kathleen Casey.
Nazareth has been outspoken about the ability of shareholders to elect directors, an issue on which she was outgunned last year. In November, the SEC decided 3-1, with Nazareth casting the dissenting vote, to allow companies to block shareholder election resolutions from their corporate ballots.
“Responsible management need not fear its shareholders,” Nazareth said then. “I am obviously disappointed.”
Nazareth has long-standing connections in the financial and political spheres, having previously served as director of market regulation at the SEC.
Her husband, Roger W. Ferguson Jr., is former vice chairman of the Federal Reserve Board. He left the board in 2006 and now chairs Swiss Re America Holding Corporation.
Nazareth has said she plans to take a few months off before deciding on a new position.
The White House has yet to nominate anyone to fill the Democratic vacancies. Nominees would have to be confirmed by the Senate.
Read related stories: Business · News
0 Comments
-
There are no comments yet, be the first by filling in the form below.
Leave a Comment
-
0 Comments
There are no comments yet, be the first by filling in the form below.
Leave a Comment