A court-appointed examiner of the publisher’s 2007 buy-out found evidence of ‘dishonesty and lack of candour’ in the deal that led to the group’s insolvency
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Tribune deal marred by ‘dishonesty’
The world’s largest real estate consultancy reports the strongest growth in revenue and earnings since 2007 as it benefits from the global recovery in commercial property activity
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CBRE upbeat on global recovery
Carmakers unveil initiatives leading up to the roll-out of competing models this year, with range anxiety high on the list of hurdles to acceptance
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GM and Nissan sound the charge for electric cars
A call from Ontario Teachers Pension Plan to vote against Sir John Bond’s re-election to the board fails to win widespread backing from other investors
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Vodafone sees off threat by rebel investor
RushLimbaugh.com (subscription) Liberal Policies, Not Capitalism, Caused This Economic Condition RushLimbaugh.com (subscription) These people who are creative on Wall Street had to come up with ways to make these worthless mortgages worth something, so they created all this stuff. …
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Liberal Policies, Not Capitalism, Caused This Economic Condition – RushLimbaugh.com (subscription)
Scam Alert: Cheap off-campus student housing 13abc.com University of Toledo students Na'Tasha Nunn and Arielle Weaver thought an ad on the popular website Craigslist.com for a 3-bedroom home not far from campus … and more
A leading Tomkins shareholder has expressed anger at the price and management incentive package in an agreed takeover bid from a Canadian consortium
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Tomkins investor angry at bid deal
Commercial lender reports second quarterly profit since emerging from bankruptcy protection and says it plans to restructure some high-cost debt
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CIT Group reports profit
Workplace morale has hit an all-time low, with record falls in job satisfaction and two out of five personnel saying they would leave their current employer if they could find a better job. According to a survey among 2,000 staff undertaken by the Chartered Institute of Personnel and Development (CIPD), job satisfaction has dropped to its lowest ever level of +35 compared with +36 last quarter and a high of +46 in the summer of 2009.
(From Gradkin Blog) — With the current view that the generational gap in the workforce is as wide as ever, it’s spurred a recent push by companies to better understand the Gen-Y recruitment landscape. Many companies that had previously been satisfied with their talent management strategies, now realise that methods of old aren’t as applicable anymore. Graduate recruitment like other functions of a business needs to evolve with time. Human Resource professionals globally are in a constant state of incertitude as they try to figure out the answer to “How do we attract Gen-Y talent?”. The reason for the uncertainty really lies in a lack of understanding of today’s millennials. When you can get inside their head though and understand exactly what motivates them, tailoring your recruitment processes around it leads to a winning attraction strategy. The issue is complicated further with a War for Talent reemerging as the global economy recovers. Not only are employers desperate to attract the right talent, they do so in an increasingly competitive job market – start-ups, SMEs and MNCs are all fighting over the best talent and the companies with the most persuasive stories win. So, how exactly do companies ensure they stand out when attracting Gen-Y talent? Read more.
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4 Steps to Attracting Gen-Y Talent
(From Harvard Business Review) — Tony Hayward’s expected departure as CEO of BP today won’t be the biggest surprise; the surprise is that it’s taken so long. (I called publicly for his resignation some time ago.) The Case of Tony Hayward and the Gulf Oil Spill will be fodder for business school discussions for years to come, as a how-not-to-do-it guide for leadership when disaster strikes. Mr. Hayward must have studied management in a parallel universe, where a set of anti-rules for bad leadership are taught. Here’s what I imagine are those anti-rules. Deny and minimize problems. Drop any mention of the high-minded principles you announced at the beginning of your term, such as safety and a culture that puts people first. Sweep them under the rug as you play down the significance of the crisis. Or better yet, find someone else to blame—a supplier, a business partner, a lowly employee or two. Emphasize your own power and importance. Keep yourself front and center all the time. Rarely bring forward the rest of the team, nor even indicate that it’s a team effort. Make the story all about you. Talk about your heavy burdens and the costs to your life. When forced to acknowledge the true victims, pay lip service. Never apologize, and don’t even pretend to learn from your mistakes. Brush off public disapproval, and persist in the same mindless behavior that provoked criticism in the first place. Hang onto your job even when it’s clear you should go, in order to negotiate the highest severance package, whether you deserve it or not. Don’t even consider a deferred resignation to allow for smooth suggestion. Cling to power, and keep everyone guessing to the very end. Just reverse these rules, and the outcome could have been different. Good leaders must face facts, prepare for the worst case scenario, draw on the whole team, show constant concern for stakeholders, acknowledge mistakes and not make the same ones twice, and do the honorable thing if getting in the way of company progress. BP, in fact, mobilized thousands of employees and former employees from around the world to work on the Gulf Oil spill; the saga of Mr. Hayward now seems peripheral to the main action. Read more.
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Leadership Tips from Tony Hayward (or Not)
New wave of whistle-blowers could become millionaires USA Today By Paul Burns, Lifesize/Getty Images By Eamon Javers, CNBC Under little-noticed new provisions of the Dodd-Frank Wall Street reform law, whistle-blowers … and more
The Big Four accountants dominance of auditing is facing mounting international scrutiny after the UK’s House of Lords launched a review into the firms’ role in the financial crisis
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UK Lords take long hard look at Big Four
Congressman Boehner answers a question from John in Liberty Township, who asks, “When are we going to really focus on financial reform and go after Fannie Mae and Freddie Mac? … and what your saying may not be totally correct and if some of it is, then blame the politicians there who control the flow of funds or who gets what contracts.. look at the BIG DIG in Massachusetts.. what a scam that is.. how do you go over budget by a few billion dollars and get away with it ? …
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Constituent Mailbag: Your Questions Answered On Financial …
General Electric has agreed to pay $23.5m to settle allegations from US regulators that its subsidiaries bribed Iraqi officials to win contracts under the UN Oil for Food Programme between 2000 and 2003
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GE pays $23m after Iraq probe
Consumer confidence has plunged to 50.4. To put the number in perspective, it was averaging 98 in the last expansion. Bloomberg reports U.S. Economy: Consumer Confidence Slips to Five-Month LowThe Conference Board’s sentiment index fell to 50.4, below the median forecast of economists surveyed by Bloomberg News and the lowest level in five months, figures from the New York-based private research group showed today. Another report showed home prices rose more than forecast in May as a …
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Consumer Confidence Sinks to 50.4, a 5-Month Low; Home Prices Rise; Case-Shiller a Very Lagging Price Indicator
Fannie shares jumped 18% to 32 cents, while Freddie gained 16% to 36 cents. The companies have lost almost all their market value after slumping house prices and surging mortgage defaults forced the U.S. government to take them over in 2008 . … This scam began not long before the peak of the housing market.. Now, there are many people who have lost jobs which affects credit ratings which allows the insurance companies to raise rates. It seems as though what is happening …
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VACANCIES 'R' US – The Burning Platform, financial collapse …
Lockheed Martin, the world’s largest defence contractor by revenues, reports second-quarter results that beat analysts’ earnings estimates but fall slightly short of forecasts for revenues
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Lockheed reports rise in profits
Categorized | Trusts, assignment of mortgage, chain in title, fannie mae, foreclosure, foreclosures, mortgage, non disclosure, servicers, trustee, truth in lending act …. S.E.C., saxon mortgage, scam , securitization, servicers, settlement , sewer service, shadow foreclosures, shapiro & fishman pa, short sale, siva, spear & hoffman, Steven J Baum, steven mnuchin, stock, STOP FORECLOSURE FRAUD, stop foreclosure fraud, stopforeclosurefraud.com, sub-prime, Supreme Court …
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Fannie Mae Requirements for Document Custodians |
While a bold attempt at preventing unnecessary foreclosures, the analysts at Moody’s Investors Service argue that the GSE may encounter snags ahead since figuring out who to penalize for strategically walking away will be a significant …
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Moody's Questions Feasibility of Fannie Mae's Strategic Default …
Anyway You Cut It – Sales Just Aren't Cutting It Forex Hound (blog) As a long-time market-watcher, I get a kick out of those countless Wall Street “experts” who focus so slavishly on “the number. … and more
The deal extends Google’s dominance of the global search market and cuts off another avenue for Microsoft’s Bing to make substantial gains, as Yahoo struggles to increase revenues
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Google to power Yahoo Japan web search
Ross Mandell, ex-trader in fraud case, peddles his reality TV show Washington Post NEW YORK — A former Wall Street trader accused with associates of swindling more than $140 million from investors is angling for his own reality television … and more
New York Daily News Lawyer targets Madoff victims' profits Boston Herald “The people who made money (did so) at the expense of the people who didn't,” trustee Irving Picard told The Wall Street Journal, disclosing that he expects … Water Cooler Finance: The Unrelenting Claw Of Bernie Madoff San Francisco Chronicle India's poor infrastructure needs more than money Equitymaster.com Bernie Madoff trustee to file suits against victims, newspaper report states Bobsguide (press release) CBS MoneyWatch.com (blog)
The US technology group is the latest company to come under attack from Europe’s top antitrust watchdog, which is opening two separate cases against it
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Brussels to probe IBM mainframe market role