July 28, 2009 |
One of Hollywood's juiciest television dramas came to a close Monday when NBC Entertainment chief Ben Silverman said he was leaving the network after two tumultuous years. In the end, NBC Universal Chief Executive Jeff Zucker's big gamble to hand over the keys to NBC's storied legacy to an aggressive young television producer who vowed to revolutionize the network backfired.
May 5, 2009 |
Chrysler's woes could turn out to be a blessing for General Motors Corp., paving a clearer path for the troubled company to avoid bankruptcy. With less than a month before its government-imposed deadline to restructure, GM is still attempting to reduce obligations to the United Auto Workers union and to holders of billions of dollars in the automaker's bonds.
March 14, 2009 |
Like him or loathe him, Rupert Murdoch is the last of the great media swashbucklers, a throwback to the pirates, cutthroats and visionaries who used to run the business before it was engulfed and devoured by giant risk-averse corporate behemoths. The earthquake that rocked News Corp. this week was a typical Murdoch seismic event. As one of his top executives once told me: "Rupert is a gambler. He tolerates noble failure more than complacency."
February 27, 2009 |
Beleaguered insurer American International Group Inc. could be split into at least three separate government-controlled divisions in an effort to save the business, according to a report Thursday by the Financial Times. This week, reports surfaced that New York-based AIG might be asking for its fourth loan from the federal government just days before it is expected to report a fourth-quarter loss.
February 25, 2009 |
Media Mogul Rupert Murdoch has a knack for corporate chess. Now he's contemplating how to advance his pieces. Murdoch plans to use the exit of his longtime lieutenant, Peter Chernin, to assume more direct involvement in operations and shuffle management at News Corp., which is expected to trigger the departure of some ranking executives, according to people familiar with the matter who asked not to be identified because of its sensitivity. News Corp.
February 18, 2009 |
Smithfield Foods Inc. said it planned to cut 1,800 jobs and close six factories as part of a restructuring that comes amid an overall slump in the meat industry. The company plans to combine seven of its independent operating companies into three main units and close plants in six cities, including one in its hometown of Smithfield, Va., by December. The meat industry is slumping as companies such as Smithfield recover from volatile energy and commodity costs that reached record highs over the summer.