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Featured Articles: GEMS of the Week
Category: Corporate News
The news items published under this category are as follows.
Monday, November 17, 2008
Citigroups Survival in Doubt as 50,000 Jobs Cut / Companies / Corporate News
By: Captain_Hook
In yet another round of massive financial layoffs, Citigroup plans to cut about 50,000 jobs .
Citigroup's layoffs are the latest in a brutal round of job cuts across the financial industry. The cuts have been sparked by unprecedented losses due to bad credit investments, as well as the subsequent precipitous drop in banking and other financial-services business amid the worst economic conditions in 70 years.
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Wednesday, September 24, 2008
Hedge Funds Drive Britain's Biggest Mortgage Bank Towards the Edge of Collapse / News_Letter / Corporate News
By: NewsLetter
September 17th , 2008 Issue #26 Vol. 2Dear Reader,
Hedge funds over the last 3 days have been in relentless pursuit of Britain's biggest mortgage bank, Halifax Bank of Scotland (HBOS) as the next bank to be pushed over the credit crisis and housing bear market cliff, amidst an atmosphere of global defaults in the wake of Lehman's collapse on Sunday. In emergency action both sanctioned and sponsored by the Bank of England saw Lloyds TSB step in to buy the Bank before the Government was forced to step in and rescue the bank much as happened following the Northern Rock bust in September 2007. Only at that time the Bank of England in a huge unforgivable blunder that destroyed much of the central banks credibility, PREVENTED Lloyds TSB from taking over Northern Rock.
Saturday, September 13, 2008
Boeing Under Pressure From Union Strike Action as Recession Looms / Companies / Corporate News
By: Mike_Shedlock
Going on strike just as the global economy is headed into a recession is simply not a good idea. But that is exactly what happened to Boeing. On September 6th Boeing Machinists Start Strike, Jeopardizing 787 Plan .Sept. 6 (Bloomberg) -- Boeing Co.'s machinists went on strike today, seeking improved pay and job security as the planemaker benefits from record orders and tries to keep its 787 Dreamliner schedule from slipping further.
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Wednesday, August 06, 2008
S&P500 Corporations Board and Executive Compensation Payments / Companies / Corporate News
By: Richard_Shaw
Executive compensation and board largess with high paid executives is a hot topic recently. That spurred us to look comprehensively at some factual comparative data on the total cost of boards of directors and top executive teams among the S&P 500 companies (proxy SPY or IVV).
For that purpose, we utilized the corporate governance database provided by The Corporate Library ( www.TheCorporateLibrary.com ) which tracks corporate actions, including executive compensation, and ranks public companies on several dimensions of corporate governance.
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Tuesday, July 29, 2008
Bennigan's Restaurant Chain Is Bankrupt, Faces Chapter7 Liquidation / Companies / Corporate News
By: Mike_Shedlock
The Wall Street Journal is reporting Bennigan's, Steak & Ale Close, File for Bankruptcy Protection .National restaurant chains Bennigan's and Steak & Ale have closed their doors and filed for Chapter 7 bankruptcy protection, shuttering more than 300 locations and letting go of thousands of employees.
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Saturday, October 13, 2007
Deal to End UK Royal Mail Postal Strike / Companies / Corporate News
By: Sarah_Jones
Union and Royal Mail Management announced a deal on Friday that looks set to bring the highly damaging postal strike to an end that has seen chaos in the UK's postal system for near 2 weeks. However details of the deal have yet to be presented to the Unions Executive on Monday.
Monday, October 08, 2007
Asda Supermarket Milk Going Bad Early / ConsumerWatch / Corporate News
By: N_Walayat
In my experience over several weeks, the Milk being sold by Asda at its Sheffield store is consistently going off before the sell by date.Read full article... Read full article...
Sunday, October 07, 2007
Citibank £10billion Loan Facility and Potential Take Over of Northern Rock Bank / Companies / Corporate News
By: Phillipa_Green
Citibank in prelude to a potential take over bid for Northern Rock bank agreed to provide the troubled bank with a £10 billion loan facility.Read full article... Read full article...
Wednesday, March 28, 2007
Whistleblower reveals car giant Renault's cover-up to Watchdog / ConsumerWatch / Corporate News
By: Sarah_Jones
Car manufacturer Renault is tonight, accused by one of its own staff of deliberately downplaying a serious design fault that causes the bonnet of some cars to open while they're on the road.
In an interview for BBC One 's Watchdog – to be broadcast tonight at 7.30pm – the company's former PR manager Graeme Holt reveals he left Renault because of their handling of the issue.
"I think it's been disgraceful quite frankly," he told the programme. "It doesn't get more serious than putting your customers' lives in danger."
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Thursday, January 25, 2007
Ford car giant announces record loss of $12.7 billion / Companies / Corporate News
By: Phillipa_Green
Ford Motor Company, the once mighty car giant announced a slump in sales in the fourth quarter of 2006, resulting an a record loss of $5.8 billion, raising the year to date loss to $12,7 billion, by the far the largest in the companies 100 year history. Nearly doubling the previous record reported during the depths of the 1992 recession of $7 billion. The loss amounts to an estimated $2000 for every vehicle sold.
Monday, September 25, 2006
Class Action suit hits Tobacco Companies / Companies / Corporate News
By: Shahla_Walayat
In a big blow to Tobacco companies, a federal judge on Monday granted class action status to tens of millions of "light cigarette" smokers for a potential $200 billion lawsuit against cigarette makers.
U.S. District Judge Jack Weinstein in Brooklyn made the ruling on a 2004 lawsuit that alleges Philip Morris, R.J. Reynolds Tobacco, Lorillard Tobacco Co. and other defendants duped smokers, and responded to consumers' mounting health concerns with a campaign of deception designed to preserve revenue.
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