By Les Leopold “Hillary is veering from the truth when she suggests her $225,000 per speech fee, paid three times by Goldman Sachs, was “what they offered.” It was not what they offered — it was what Team Hillary demanded.”……
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Goldman Sachs: Stock buybacks to rescue the stock market
By Elizabeth MacDonald “Fears are growing that the U.S. is on the cusp of a recession, with possibly three straight quarters of S&P 500 corporate profit declines, four straight quarters of revenue declines, another bad print for the ISM manufacturing…
Four of the largest Wall Street banks hit twelve-month lows last week
By Pam Martens and Russ Martens “Last Wednesday something noteworthy happened on Wall Street. Four of the largest Wall Street banks, each holding trillions of dollars in derivatives, hit new 12-month lows in intraday trading. The banks are Bank of…
Share buyback machine remains in overdrive and experts warn it will end badly
By Ciara Linnane and Tomi Kilgore “In the midst of a gloomy earnings season, the share buyback machine has remained in overdrive, and some experts are cautioning it will all end badly. Companies, even those that are missing profit and…
E.T., My Little Pony, and stock buybacks
By Margaret Michaels “What were you doing in 1982? E.T. was the #1 movie at the box office, Olivia Newton-John had the #1 billboard song, “Physical,” and My Little Pony was the #1 Christmas gift. Looking back, we were all…
Larry Fink, other Wall Street heavies, complain about short-termism. Can they turn the tide?”International Business Times, February 3, 2016.
By Owen Davis “A new strain of Wall Street criticism has cropped up in an unlikely place: the C-suite of JPMorgan Chase. There, Chief Executive Jamie Dimon has joined with Laurence Fink, co-founder and head of asset manager BlackRock, to lead regular confabs of…
Larry Fink, other Wall Street heavies, complain about short-termism. Can they turn the tide?
By Owen Davis, International Business Times, February 3, 2016 – But does focusing on “short-termism” allow executives to avoid discussing vital reforms that would change their practices – and likely cut their pay? [Click HERE to read the full article]
Blackrock’s Fink calls on CEOs to focus on long-term goals (interview with William Lazonick)
By Sue Herera and Tyler Mathisen [Click HERE to watch the interview] (segment at 19:34-23:02)
Blackrock’s Fink calls on CEOs to focus on long-term goals
By Sue Herera and Tyler Mathisen, Nightly Business Report, February 2, 2016 – William Lazonick, interviewed on TV’s Nightly Business News (segment at 19:34-23:02), outlines role of incentives in undermining executives’ concern for corporate strategy. [Click HERE to watch the…
What CEOs do for a living
By Harold Meyerson “What do CEOs do to earn their pay? Presumably, something very valuable, since the average CEO pay at Fortune 500 companies in 2014 was a cool $13.8 million. Yet even as CEO paychecks have ballooned to roughly 300…
