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Remember last November, when the auto companies’ CEOs flew in their corporate jets to beg the Senate Banking Committee for a taxpayer-funded bailout? After that public relations fiasco, the CEOs assumed contrite tones, assured Americans that they “got it,” and promised to start running their companies in a more frugal manner. As proof, when the [...]
We hate to pick on Bank of America (BAC). Really we do. But we couldn’t help it after noticing something new and interesting buried deep in this amended 8K filed late yesterday. We’ll skip right to the good part: Adjustments to record approximately $1.2 billion related to contractual change in control obligations included in historical [...]
Inspired by yesterday’s marathon hearing that saw 8 of the nation’s top banking titans subjected to hours of Congressional questions, I decided to do a little wandering through some filings from a few years ago, when things were decidedly rosier. It didn’t take that long for me to come across this filing from Golden West, [...]
While most of my attention was focused on the remarkable Harry Markopolos hearing yesterday, which I was live blogging on Twitter, it was hard to ignore the other big story of the day: President Obama’s new rules on executive compensation that put caps on both compensation and many of the perks that have become de [...]
There’s been endless stories written about executive compensation for banks participating in Treasury’s Capital Purchase Program. As the rules clearly spell out, compensation for the five named executives is capped at $500K and there’s additional restrictions on so-called golden parachutes. But I’ve yet to come across anything that looks at some of the perks — [...]
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