Marketplace Live: What a difference four years does not make
Friday, September 28, 2012 - 04:25 Jessica Kourkounis/Getty Images Subprime Meltdown. The Collapse of Lehman Brothers. Too Big To Fail. Those headlines dominated the global news in 2008. But how are they playing out this election year? What a difference four years has not made. That was one of the conclusions from a special live taping of APM's Marketplace and the BBC's Business Daily's World Service at New York Public Radio's Greene Space this week. Marketplace's Kai Ryssdal and the BBC's Justin Rowlatt moderated a panel discussion titled: "Are, we the people, to blame: Do we get the banks we deserve?" THE PANEL: Host Kai Ryssdal (far right) and the BBC's Justin Rowlatt (far left) lead a panel conversation with former New York Governor Eliot Spitzer, author Bethany Mclean, former Bain Capital partner Ed Conard, and RBC Wealth Management CEO John Taft. Subprime Meltdown. The Collapse of Lehman Brothers. Too Big To Fail. Those headlines dominated the global news in 2008. Four years ago, Americans ...
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Avon Eliminating Hundreds of Jobs; Leaves Ireland
NEW YORK — Avon is eliminating more than 400 positions and abandoning or restructuring smaller or underperforming businesses in Africa, the Middle East and Europe, including an exit from Ireland. The company said Monday that the job cuts, which equate to about 1 percent of Avon’s 39,100 employees, will occur across all regions and segments. It is part of a turnaround plan under CEO Sheri McCoy, with the goal of achieving mid-single digit percentage revenue growth and $400 million in cost savings by 2016. Avon expects to complete almost all the cuts before year’s end. The New York company will take charges of around $35 million to $40 million before taxes and expects annualized savings of between $45 million and $50 million. (MORE: Report: Google Fiber Coming to Austin as Cities Race to Increase Web Speeds) The jobs cuts come on top of the 1,500 positions trimmed in December, when the company announced that it was exiting Vietnam and South Korea. The direct seller of beauty products ...
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Too Big To Fail: 3 Lessons of the “London Whale” Debacle
Of the many scandals that have plagued Wall Street of late, the “London Whale” trades, which cost banking giant JPMorgan Chase more than $6 billion, has captured the attention of the financial media more than any other. The biggest reason for journalists’ obsession with this story is that it tarnished the reputation of JPMorgan CEO Jamie Dimon, who is widely thought to be one of the most competent bank CEOs in the business, and one of the few who ably steered his bank through the subprime-mortgage crisis. And as far as the media is concerned, the bigger they come, the more people like to watch ’em fall. But there is more to this story than the comeuppance of the biggest banker on the Street today. The London Whale debacle, and the subsequent Senate investigation, gives us a window into the culture and operations of the biggest bank in America as it adjusts to a postcrisis world in which Dodd-Frank is the law of the land. And the picture painted isn’t exactly comforting. The ...
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What Have We Learned? 3 Lessons from the London Whale Trading Debacle
Of the many scandals that have plagued Wall Street of late, the “London Whale” trades, which cost banking giant JPMorgan Chase more than $6 billion, has captured the attention of the financial media more than any other. The biggest reason for journalists’ obsession with this story is that it tarnished the reputation of JPMorgan CEO Jamie Dimon, who is widely thought to be one of the most competent bank CEOs in the business, and one of the few who ably steered his bank through the subprime mortgage crisis. And as far as the media is concerned, the bigger they come, the more people like to watch ‘em fall. But there is more to this story than the comeuppance of the biggest banker on the Street today. The London Whale debacle, and the subsequent Senate investigation, gives us a window into the culture and operations of the biggest bank in America as it adjusts to a post-crisis world in which Dodd-Frank is the law of the land. And the picture painted isn’t exactly comforting. The ...
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Yahoo in talks to buy stake in video site Dailymotion: report
SAN FRANCISCO - Yahoo Inc is in talks to acquire a controlling stake in Dailymotion, one of the world's most popular online video websites, in what would be Yahoo CEO Marissa Mayer's largest deal since taking the reins in July, the Wall Street Journal reported on Tuesday.
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