Nadia's Feed
Nov 21, 2013

JPMorgan’s legal troubles weigh on employee pay -sources

Nov 21 (Reuters) – JPMorgan Chase & Co plans to keep
overall compensation per employee roughly flat this year from
last year, lagging gains at rivals, as the bank’s massive legal
settlements weigh on its results, two sources familiar with the
matter said.

Bonuses were largely set early this week, though payouts
could change in unusual situations or if there is an unexpected
change in the company’s results during the last six weeks of the
year, said the sources, who spoke on the condition of anonymity.
It is not yet clear what Chief Executive Jamie Dimon’s bonus for
2013 will be.

Nov 21, 2013

Exclusive: JPMorgan plans to keep pay roughly flat from last year – sources

By Nadia Damouni and David Henry

(Reuters) – JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) plans to keep overall compensation roughly flat this year from last year, in a sign that employees will feel at least some pain from the bank’s recent legal settlements, according to two sources familiar with the matter.

Pay increases have been muted across much of the banking sector in the aftermath of the financial crisis, but JPMorgan’s decision would put the bank on the lower end of expectations for the rest of the industry.

Nov 21, 2013

JPMorgan plans to keep pay roughly flat from last year -sources

Nov 21 (Reuters) – JPMorgan Chase & Co plans to keep
overall compensation roughly flat this year from last year, in a
sign that employees will feel at least some pain from the bank’s
recent legal settlements, according to two sources familiar with
the matter.

Pay increases have been muted across much of the banking
sector in the aftermath of the financial crisis, but JPMorgan’s
decision would put the bank on the lower end of expectations for
the rest of the industry.

Nov 15, 2013

Analysis: Investors take aim at ‘male, pale and stale’ U.S. boards

NEW YORK/BOSTON (Reuters) – American boardrooms are looking grayer than ever. More retired executives are being offered directorships, mandatory retirement ages are rising, and directors are staying on longer.

It is a trend that has some investors, particularly state pension funds, increasingly concerned. They say directors who stay on a board a long time can get too cozy with management and lose their independence. It also means that the clubby domination of boardrooms by older, mainly white, men can continue, with fewer opportunities for women and minorities to get directorships.

Nov 14, 2013

Exclusive: GM CEO could exit in 2014; no formal search yet – sources

By Nadia Damouni, Ben Klayman and Sophie Sassard

(Reuters) – General Motors Co (GM.N: Quote, Profile, Research) Chief Executive Dan Akerson could step down as early as next year though he has not formally notified the board of his plans and an official search for his successor has not yet begun, according to people close to the matter.

GM’s board is not in any rush to see Akerson, 65, leave and has not set a timeframe for hiring an executive search firm to weigh potential internal or external candidates, said one of the sources, who is familiar with the board’s thinking.

Nov 14, 2013

GM CEO could exit in 2014; no formal search yet -sources

Nov 14 (Reuters) – General Motors Co Chief Executive
Dan Akerson could step down as early as next year though he has
not formally notified the board of his plans and an official
search for his successor has not yet begun, according to people
close to the matter.

GM’s board is not in any rush to see Akerson, 65, leave and
has not set a timeframe for hiring an executive search firm to
weigh potential internal or external candidates, said one of the
sources, who is familiar with the board’s thinking.

Nov 14, 2013

Investors take aim at ‘male, pale and stale’ U.S. boards

NEW YORK/BOSTON, Nov 14 (Reuters) – American boardrooms are
looking grayer than ever. More retired executives are being
offered directorships, mandatory retirement ages are rising, and
directors are staying on longer.

It is a trend that has some investors, particularly state
pension funds, increasingly concerned. They say directors who
stay on a board a long time can get too cozy with management and
lose their independence. It also means that the clubby
domination of boardrooms by older, mainly white, men can
continue, with fewer opportunities for women and minorities to
get directorships.

Nov 12, 2013

Men’s Wearhouse will review merger offer, investor says

NEW YORK, Nov 12 (Reuters) – Men’s Wearhouse Inc said
it would review a previously rejected merger with Jos. A. Bank
Clothiers Inc and a return of capital to shareholders,
major investor Eminence Capital LLC said on Tuesday.

The New York-based hedge fund, which is Men’s Wearhouse
largest single shareholder with almost 10 percent of stock,
urged the company to quickly engage with smaller rival Jos. A.
Bank over a merger offer Men’s Wearhouse turned down in October.

Nov 8, 2013

Exclusive: Alcatel-Lucent enterprise unit on the block again – sources

NEW YORK (Reuters) – Alcatel-Lucent is exploring the sale of a division that sells switches and communications gear to corporate clients, part of the French company’s efforts to shed 1 billion euros worth of assets by 2015, according to people familiar with the matter.

Alcatel-Lucent SA, which is in the midst of a turnaround and debt-reduction plan under Chief Executive Michel Combes, has brought in Lazard Ltd to help find a buyer for its enterprise business, the sources said this week.

Nov 8, 2013

Alcatel-Lucent enterprise unit on the block again-sources

NEW YORK, Nov 8 (Reuters) – Alcatel-Lucent is exploring the
sale of a division that sells switches and communications gear
to corporate clients, part of the French company’s efforts to
shed 1 billion euros worth of assets by 2015, according to
people familiar with the matter.

Alcatel-Lucent SA, which is in the midst of a
turnaround and debt-reduction plan under Chief Executive Michel
Combes, has brought in Lazard Ltd to help find a buyer
for its enterprise business, the sources said this week.