July 14, 2012 |
NEW YORK - JPMorgan Chase & Co. revealed that losses from a trading blunder could widen to a whopping $7.5 billion as it reported that profit fell last quarter. Wall Street's reaction? Investors sent the bank's stock surging 6% on Friday. It's been a rough couple of months for JPMorgan and its savvy chairman and chief executive, Jamie Dimon, since the bank disclosed that risky derivatives trades blew a hole - initially pegged at $2 billion - in what he calls the bank's "fortress balance sheet.
May 25, 2013
Re "Dimon retains role as chairman," Business, May 22 So, JPMorgan Chase & Co. lost $6 billion in an embarrassing trading episode on Jamie Dimon's watch as chairman and chief executive officer. JPMorgan shareholders, elect me as your chairman and CEO. Pay me double what you pay Dimon and I guarantee that JP Morgan will lose $12 billion under my watch. Alvin Y. Yoshida Long Beach ALSO: Letters: One 'scandal,' many goals Letters: Sexism and the Plan B debate Letters on letters: No excuse for not voting
November 13, 2013 |
JPMorgan Chase & Co. probably thought things couldn't get any worse than the $13 bilion it is expected to pay in a legal settlement with the government. Then it stumbled into a public-relations debacle on Twitter. The beleaguered banking giant asked Twitter users to submit questions to one of its top deal-makers for a planned Twitter chat Thursday. Using the hashtag #AskJPM, the company said Jimmy Lee would be responding to queries on "leadership and life. " The phrase quickly began trending on Twitter on Wednesday afternoon.
April 5, 2012 |
This is what passes for hard times in the executive suites of Wall Street - the compensation of Morgan Stanley's top executive fell to $13 million. The 2011 pay package of James Gorman, chief executive of the New York investment bank, decreased almost 15% from the $15.2 million he hauled in the previous year, according to a filing with the Securities and Exchange Commission on Thursday. His compensation included $800,000 in salary, a $2.7 million bonus, $5.9 million in stock awards and $3.5 million in stock options.
January 8, 2013 |
Investors sent stocks lower ahead of the release of corporate earnings that Wall Street will digest in coming weeks. The Dow Jones industrial average lost 48 points, or 0.4%, to 13,336 shortly after the opening bell. The broader Standard & Poor's 500 index lost seven points, or 0.5%, to 1,455. The Nasdaq was down nine points, or 0.3%, to 3,090. Earnings season unofficially begins with aluminum giant Alcoa Inc., which is to release earnings after the markets close Tuesday.
November 19, 2013 |
NEW YORK - JPMorgan Chase has agreed to a $13-billion settlement with the government over selling shoddy mortgage investments, ending a legal battle that signals a tougher stance against Wall Street wrongdoing. The nation's largest bank admitted to knowingly peddling the toxic securities that helped lead to the housing bubble and the worst financial meltdown since the Great Depression. The settlement is the largest made by any single American company in history. California, slammed by 1 million foreclosures during the mortgage meltdown, will be a major beneficiary of the deal.
March 30, 2012 |
David Novak calls himself a “pretty informal guy.” He used to hand out employee recognition awards in the form of rubber chickens. He loves to teach. He's also the multimillionaire chief executive of Yum Brands Inc., the fast food company with the most stores in the world. This week, Novak, 59, swung through Los Angeles and briefly talked about leadership lessons, international expansion for brands such as KFC and Pizza Hut and why he thinks struggling Taco Bell will “go down in history” this year. Novak's new book dropped in January, its bright red back cover plastered with praise from the likes of Alan Mulally (chief executive of Ford Motor Co.)
March 26, 2013 |
NEW YORK - Does Jamie Dimon have too much power? JPMorgan Chase & Co.'s board apparently doesn't think so. Last week, its directors decided to keep Dimon as both the bank's chairman and chief executive, even after a Senate panel's scathing report about $6 billion in trading losses incurred by the so-called “London Whale.” Their decision to keep Dimon in both posts could set the stage for a rift with some big JPMorgan shareholders who support...
May 15, 2012 |
TAMPA, Fla. -- JPMorgan Chase & Co.'s shareholders filed into a suburban office building here Tuesday for a potentially dramatic annual meeting. It will be the first time Jamie Dimon, the bank's chairman and chief executive officer, and other senior executives and board members will face shareholders since the bank disclosed a stunning $2-billion loss due to complicated derivatives trades. Since the disclosure, the bank's stock has plunged 12%. PHOTOS: JPMorgan board faces shareholders The attendees for the meeting drove into JPMorgan's heavily guarded east Tampa campus, part of an office park dotted with palm trees.
October 12, 2012 |
JPMorgan Chase & Co.'s profits surged 34% in the third quarter as the country's largest bank by assets saw its mortgage business boom and market share grow. JPMorgan, which also reported strong growth in its units such as credit card and commercial banking, said it earned a record $5.7 billion, or $1.40 a share, in the third quarter, up from $4.3 billion, or $1.02, the same period a year ago. “Importantly, we believe the housing market has turned the corner," Jamie Dimon, chairman and chief executive, said in a statement.