July 29, 2002 |
Treasury Secretary Paul H. O'Neill said Sunday the economy is fundamentally sound despite the stock market's troubles and the business scandals that have shaken consumer confidence. "I'm a deep believer in the potential and the reality of the greatest economy ever conceived," said O'Neill, making high-profile appearances on the talk shows following criticism of his travels abroad during the recent economic volatility.
March 10, 2004 |
After being threatened with possible sanctions, Los Angeles investment bank Wedbush Morgan Securities said Tuesday that it was moving quickly to clear up a miscommunication with Treasurer Phil Angelides over a new state code of financial conduct. Wedbush Morgan and two other firms, Edward Jones of St. Louis and CIBC World Markets of Toronto, have been sent sanction letters.
June 16, 2009 |
The Obama administration this week will propose the most significant new regulation of the financial industry since the Great Depression, including a new watchdog agency to look out for consumers' interests. Under the plan, expected to be released Wednesday, the government would have new powers to seize key companies -- such as insurance giant American International Group Inc. -- whose failure jeopardizes the financial system.
September 6, 2002 |
Three officers and a director of NewCom Inc., a defunct Westlake Village tech firm, were charged Thursday with falsifying company financial records in a case federal prosecutors portrayed as an example of the Bush administration's pledge to crack down on corporate greed. The criminal fraud and conspiracy case is the latest development in a long investigation of NewCom and its majority owner, Aura Systems Inc. of El Segundo.
August 23, 2004 |
In an unprecedented overhaul of the nation's overtime pay rules, the Bush administration is delivering to its business allies an election-year plum they've sought for decades. The new rules take effect today after surviving many efforts by Democrats, labor unions and worker advocates to block them in Congress and kill them through public and political pressure.
October 24, 2002 |
One in 10 publicly traded companies made financial restatements because of accounting irregularities in the last five years, the U.S. General Accounting Office said Wednesday. Annual restatements from accounting irregularities will increase 170% to a projected 250 by the end of 2002 from 92 in 1997, the report says.
October 3, 2002 |
Congressional investigators released new information Wednesday on brokerages' allocations of hot new-stock issues to favored clients, including California dot-com executives who in some cases received shares in more than 100 deals in the late 1990s. Meanwhile, state and federal regulators met in New York, seeking to overcome differences and form a united front in talks to reach a broad settlement of conflict-of-interest charges against securities firms, sources said.
December 5, 2001 |
An increasing number of the 500 largest U.S. companies have appointed women as board directors over the last nine years, a report released Tuesday said, but the progress of change has slowed to a near-glacial pace. Fortune 500 companies with female board members have risen 25.8% since Catalyst, a nonprofit research group, ran its first census on the subject in 1993. But from 1997 to the present, companies with female board members rose by only 3.6%, compared with a 21.
August 30, 2005 |
For corporate directors, there's an upside to all their extra headaches in the post-Enron world: more money. The median pay for directors at large U.S. companies jumped 18% in 2004, said a study issued Monday by Mercer Human Resource Consulting. The median compensation rose to about $155,000, from $132,000 in 2003, according to Mercer's review of regulatory filings by 350 companies with annual revenues topping $1 billion.
March 23, 2005 |
French lawmakers voted to essentially dismantle the nation's 35-hour workweek, opening the door for companies to increase employees' working time in exchange for better pay. Nearly a million people joined strikes and demonstrations this month to defend the 35-hour week and protest other perceived threats to their working conditions and pay.