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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 [...]
I never thought I’d be writing any posts about Twitter on this blog. However, there’s no doubt that Twitter is not only a business, at least will be considered one once someone figures out how to monetize it, but is used for business purposes in more than one way. Let’s start with a brief explanation [...]
It was reported that, on Monday, there were more than 75,000 jobs cut on that day alone. Some of those figures came in like this: Caterpillar, 20,000 jobs; Home Depot, 7,000 jobs; Pfizer, 8,000 jobs now, eventually another 19,000 jobs; Sprint Nextel, 8,000 jobs (not unexpected since they declared bankruptcy); Texas Instruments, 3,400 jobs; General [...]
Trust me, I’m not hating on anyone, especially after how good I feel about yesterday and the inauguration of Barack Obama. However, this question has to be asked, and I guess it comes down to me to ask it. On the heels of the turmoil at Citigroup, of whom I’ve never been a big fan [...]