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PUBLIC MARKS from bacon with tag group

April 2009

American International Group plans sale of U.S. auto business, 21st Century Insurance, to Zurich Financial Services

US taxpayer-bailed out insurance giant American International Group Inc. (AIG) is in advanced talks to sell its US personal lines insurance business, 21st Century Insurance, to Zurich Financial Services for about $2bn. Selling the unit, which includes ...

Who is Danny Pang, a mystery man? Ponzi scheme

Move over, Marc Dreier, Bernie Madoff, and Sir Allen Stanford. There’s a new financial villain on the scene, Danny Pang a native of Taiwan and the chairman and CEO of Private Equity Management Group Inc. in Irvine, has been a business partner wit...

Royal Bank of Scotland shortlists three bidders for Asia business

Royal Bank of Scotland Group PLC (RBS) has a shortlist of three bidders for its Asian retail and commercial banking assets in a sale that could fetch up to $1.8 billion, according to a report on The Wall Street Journal’s Web site. The shortlisted...

UBS axed 240 Jobs in Asia-Pacific Wealth Mgmt group

Swiss bank UBS AG (UBS) is laying off 100 staff in Singapore, which together with Hong Kong as part of efforts to cut costs. The bank is shedding 240 jobs, or about 8% of the work force altogether in Asia Pacific, all from its wealth management group. ...

Chrysler LLC Lenders Plan Debt Offer

Chrysler LLC’s lenders are planning to make a counteroffer this week to the U.S. Treasury, which originally asked creditors owed about $6.9 billion to accept $1 billion to keep the auto maker from liquidating. Late Sunday night, the lenders recei...

Thomas O. Hicks’ Sports Group defaults on $525 million in loans

Hicks Sports Group, co-owner of the Texas Rangers, the Dallas Stars and Cedar Park Center partner Hicks Sports Marketing, recently entered negotiations with its creditors after defaulting on more than $500 million in loans. The company’s chief operat...

Citigroup likely to sell Nikko Citigroup with Nikko Cordial Securities and Nikko Asset Management Co.

Citigroup Inc. of the United States intends to add Nikko Citigroup Ltd. to its plan to sell Nikko Cordial Securities Inc., Japan’s third-largest brokerage and Nikko Asset Management Co. in Japan. Citigroup has proposed selling the three Nikko fir...

What is Goldman Sachs GS Vintage Fund V?

US investment giant Goldman Sachs Group Inc has raised $5.5bn (£3.72bn) of investor commitments for a new fund that will buy private equity investments on the secondary market, wsj reported. The Journal said the new fund, called GS Vintage Fund V, wou...

ING Plans to Sell $10.6 Billion of non-core assets: ING Investor Day

ING Group, the biggest Dutch financial services firm, plans to sell up to €8 billion (£7.2 billion) selling of non-core assets after tapping a government rescue fund last year. ING expected to sell between 10 and 15 businesses “over time and a...

Georgia-Based Attorney Robert P. Copeland charged in $28 million fraud: Ponzi Scheme

The Securities and Exchange Commission charged, Georgia-based Marietta real estate attorney Thursday for operating a Ponzi scheme that sold promissory notes to raise funds that were purportedly invested in real estate transactions, including private mo...

Goldman Sachs Group plans stock offering

Wall Street investment bank Goldman Sachs Group Inc. is considering making a multibillion dollar offering of its shares to investors. The company is planning this offering as part of an effort to repay a $10 billion government loan. Though the final si...

March 2009

AIG CEO Edward Liddy says employees starting to return bonuses: Congressional Questioning

AMERICAN International Group has asked staff to return at least half of the controversial bonuses handed out recently. The head of financially strapped AIG Edward Liddy is telling Congress he’s heard the rage over executive bonuses and has called...

Meredith Whitney Scares Us All again says credit cards are the next credit crunch.

Does it need any kind of expert to predict the downfall of economies that doesn’t depend on hard work any longer, but depend on lazy numbers only, while only the Chinese are dedicating to hard work and exporting from nails to super heavy weight p...

February 2009

Stanford fraud case: FBI Arrests Stanford Executive Laura Pendergest-Holt

The FBI made the first arrest in the Stanford Financial Group fraud investigation, detaining Chief Investment Officer Laura Pendergest-Holt on federal obstruction charges. The criminal complaint against Pendergest-Holt said she failed to tell investiga...

Rio Tinto and Chinalco; $19.5bn injection: China’s biggest foreign deal

Rio Tinto, the third-biggest diversified mining group by market value, announced last week it had held talks with Chinalco about selling it convertible notes and stakes in some assets. A deal with Chinalco may help dampen investor concerns over Rio&#82...

Tata's Jim Leng resigns as chairman-elect, Mining giant Rio Tinto

Rio Tinto announces that Jim Leng, a non-executive Director, has resigned from the Boards with immediate effect and will therefore not take up the post of Chairman of the Boards in April as previously planned. At the request of the Boards, Rio Tinto&#8...

December 2008

What is Ex-Willbros James K. Tillery U.S. Bribery Conspiracy?

I am curious as to how the Feds plan to prove this case James K. Tillery, 49, the former President of Willbros International, Inc., a unit of Willbros Group Inc., the Panama-based provider of oil and natural-gas services, based in Houston, Texas, was c...

Reason why Russia should not join OPEC Oil cartel?

As OPEC is getting ready for a huge decrease in production and they realize that they need Russia (the world’s largest oil producer and second largest exporter) to help out.  OPEC has invited Russia to join.  The Kremlin will risk throwing away its...

Joseph J. Rutherford to replace Daniel Lehrfeld at Photonic Products Group, Inc.

Photonic Products Group, Inc. today marked the pending transition to a new Chief Executive Officer. The Board of Directors, following an intensive search for a successor to current President and CEO Daniel Lehrfeld, has announced that Joseph J. Ruther...

November 2008

AIG restricts CEO compensation or its just a publicity stunt!

Give me a break! It’s a publicity stunt. Get people looking at the CEO, or the “top 5″ and ignoring the rest of the company. They probably have hundreds, if not thousands of executives making high 6 figure salaries and huge bonuses. ...

EMCOR Group, Inc. Subsidiary Awarded Contract for Mechanical Systems Installations at EMC Corporation

EMCOR Group, Inc. (NYSE: EME), a Fortune 500® leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses, announced that its EMCOR Services Northeast subsidiar...

Do you think Fortis CEO Karel De Boeck deserve euro 800,000?

Fortis, once the largest bank in Belgium and the Netherlands, said Wednesday it would pay its new chief executive an annual salary of euro800,000 (US$1 million) and possible bonuses — adding fuel to a row over big pay packets at financial groups gett...

Fiat CEO Sergio Marchionne, AID FOR ALL OR FOR NO ONE

Fiat Group CEO Sergio Marchionne on Wednesday warned that a bailout of the big three carmakers in the U.S. would distort competition across the ailing auto industry. Marchionne appealed for a fair playing field for the automaking industry as Detroit&#8...

Eric A. Danziger Appointed President and CEO of Wyndham Hotel Group.

Eric A. Danziger, a hotel industry leader for more than 30 years, has been named president and CEO of Wyndham Hotel Group, the world’s largest hotel franchise company, a part of Wyndham Worldwide, (NYSE:WYN). “Eric is a highly qualified and wel...

What went wrong with The South Financial Group CEO Mack Whittle's $18 million retirement package?

The South Financial Group, largest publicly-traded bank holding company governor Mark Sanford is calling for an investigation into the timing of South Financial Group CEO Mack Whittle’s $18 million retirement package. Sanford contacted Treasury s...

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