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I had to think about where to put this one, and decided to post it here because I think this is the way many companies of this type are going to go. It’s finance related and credit card related, and that’s what this blog is all about. There’s also customer service issues, which will destroy [...]
Once again, CNN Money & Fortune Magazine has come up with the Top 100 Companies to work for list. This year, an entrant that’s been on every list since they began charting this has moved into the #1 spot for the first time. I can’t lie, I never heard of SAS before I checked this [...]
The Treasury Department today gave GMAC Financial Services another $3.79 billion dollars, bringing the total amount they’ve been given to more than $16 billion and, in effect, giving the government 56% ownership in the company. Who needs a quick loan? Supposedly, this new money is to help shore GMAC up to make sure they don’t [...]
On Thursday, the “Pay czar” of the United States (I didn’t even know we had such a thing) decided to slash the salaries of those bank executives from banks that the administration gave bailouts to. These slashes were drastic, and were in response to bonuses that had to be paid out to brokers who, somehow, [...]
Something I always find funny is how both hospitals and companies get charged with something, agree to pay a fine or a settlement, then officially state that they didn’t do it. In this case, General Electric was charged by the SEC for improper accounting practices that made their company look more successful to investors than [...]
No, not Bud Abbott, but Abbott Laboratories, who just lost a $1.67 billion dollar jury-awarded judgment against Johnson & Johnson for patent infringement. Humira, Abbott’s pharmaceutical that blocks tumor necrosis factor, related to arthritis, is the culprit, as the jury found that Abbott had stolen part of a study J&J did in 1994 to apply [...]
Time Magazine’s online magazine has a new story titled Top Ten Crooked CEOs. It actually comes out being 11, since the very first one they show is actually two people, Kenneth Lay and Jeffrey Skilling of Enron. Just to throw this in, I always had a feeling that Kenneth Lay was actually railroaded into a [...]
