Good, Bad, and Ugly
The new AIG CEO is being paid more than his predecessor, Ed Liddy, who made just $1 a year. AIG said it will pay Benmosche $3 million in cash and $4 million in fully-vested stock. He also could receive a bonus valued as high as $3.5 million.
Democrats expand Senate control, yet splits remain
WASHINGTON (Reuters) – Democrats achieved their biggest majority in the U.S. Senate in decades on Tuesday as Al Franken of Minnesota finally took his seat — but President Barak Obama will still have to fight hard to muster the votes to pass healthcare reform and other major initiatives.
UBS to restrict U.S. offshore account access-source******But the Swiss giant is still embroiled in a civil lawsuit in which the U.S. Internal Revenue Service is trying to get information about 52,000 U.S. accounts and it faces a first court hearing on July 13.******This article while well written contains a large error, the IRS the United States Federal Government’s Tax Agency is known colloquially and officially as the Internal Revenue Service, not Inland. ******This error makes your article look sloppy, and as if no one has proof-read it. The time it takes to do proofreading and fact-checking is a few seconds by typing IRS into Google.******Steven B.******We corrected. Inland Revenue is the name of the tax collection authority in a number of countries, but not, as you point out, in the U.S. GBU Editor******
Holding a tax rebate letter from the Internal Revenue Service, U.S. President George W. Bush speaks about the economy during a visit to a small business in Sterling, Virginia March 26, 2006. REUTERS/Kevin Lamarque
Pirate Bay founders get rich in jail
STOCKHOLM (Reuters) – Swedish software company Global Gaming Factory X AB said on Tuesday it had agreed to buy free file-sharing website The Pirate Bay, and that it would find ways to compensate copyright owners for downloaded material.
NEW YORK, June 29 (Reuters) – Admitted thief Bernard Madoff will leave his jail cell and be taken under guard to court on Monday morning to hear his punishment for running Wall Street’s biggest and most brazen investment scheme.
Guests at National Summit sound downbeat theme
Ford, the grandson of the company founder, industry giant Henry Ford, said he expected the U.S. government’s ownership of General Motors Corp would continue for “some time” — suggesting the quick but controversial trip through bankruptcy that Chrysler LLC enjoyed would not be repeated.