March 13, 2013 |
WASHINGTON - Senators questioned two of President Obama's nominees for key financial regulatory positions, and Democrats and Republicans appeared to like both of them. But only one of those candidates is expected to be confirmed. Mary Jo White, a former federal prosecutor, was on track to be confirmed as chairwoman of the Securities and Exchange Commission after Tuesday's hearing by the Senate Banking committee. However, the path for Richard Cordray, the director of the Consumer Financial Protection Bureau who has been renominated by Obama, was still blocked by Republicans who want changes to the agency.
February 18, 2013 |
NEW YORK - As a lawyer in private practice, Mary Jo White worked for Wall Street all-stars: banking giant JPMorgan Chase & Co., auditor Deloitte & Touche, former Bank of America Corp. chief Ken Lewis. White, President Obama's pick to lead the U.S. Securities and Exchange Commission, even did legal work for former Goldman Sachs Group Inc. director Rajat Gupta, the highest-profile catch in the federal government's crackdown on insider trading, according to disclosures White filed ahead of her U.S. Senate confirmation hearing.
January 24, 2013 |
After investigating a fire that broke out on Boeing Co.'s 787 Dreamliner passenger jet, the National Transportation Safety Board said that backup protections in the aircraft's lithium-ion batteries and electronics systems failed. But the safety agency hasn't reached a conclusion on the cause of the fire that occurred in Boston on Jan. 7 and partly led to last week's grounding of Dreamliners worldwide that remains in effect. Speaking to reporters Thursday from Washington, NTSB Chairwoman Deborah Hersman said the agency hadn't determined what happened, but she added that the redundant safety systems installed by Boeing did not work.
CALIFORNIA | LOCAL
January 15, 2013 |
The chief of the U.S. Nuclear Regulatory Commission made her first visit Monday to the troubled San Onofre nuclear plant, offering assurance that the facility will remain closed until its safety is certain but giving few hints about its ultimate fate. NRC Chairwoman Allison Macfarlane traveled to California for the first time since taking office in July to visit the closed plant and meet with elected officials, environmentalists and plant workers' union representatives. The plant has been shut for nearly a year because of unexpected deterioration of tubes in its four giant steam generators, replaced less than two years earlier.
November 26, 2012 |
WASHINGTON - Mary L. Schapiro's departure as head of the Securities and Exchange Commission will leave the agency - at least temporarily - deadlocked as it continues to try to enact tough reforms on Wall Street. Schapiro, 57, said Monday that she will resign effective Dec. 14. President Obama quickly designated SEC Commissioner Elisse B. Walter as the agency's new chairwoman. Walter is not expected to radically change the regulator's agenda. But her move will leave the five-member SEC commission one person short - and effectively deadlocked on controversial issues such as Dodd-Frank financial reform, new regulations for money market mutual funds and a push to rein in high-speed trading.
October 5, 2012 |
Avon Products Inc.'s Andrea Jung, the face of the door-to-door cosmetics seller for 13 years, will step down as executive chairwoman after a tenure that encompassed slumping earnings, a foreign-bribery investigation and a takeover attempt. Jung, 54, who was chief executive from 1999 until April, will leave at the end of the year and continue as a senior advisor to the board beginning Jan. 1, New York-based Avon said Friday in a statement. Fred Hassan, a lead independent director, will succeed her and become non-executive chairman.