Last week, the New York Times published a searing piece revealing that Con Edison, which is currently undergoing an investigation for its handling of superstorm Sandy, was paying its top executives more than $600,000 in extra bonuses for 2012. "In our judgment, the company performed in exemplary f ... More >>
Over the summer, when we first began our recurring 'Mitt Loves N.Y.' series, it became increasingly evident that Mr. Romney's campaign for the White House had gained its largest financial support from a familiar network of friends. Most of our profiles spotlighted those in the leveraged buyouts busi ... More >>
Christine Quinn, faced with the challenging task of simultaneously negotiating the interests of labor groups and business groups in a new living wage bill, has lost the support of the city's major business organization -- a disappointment for the City Council Speaker, who is expected to run for mayo ... More >>
In a case that should resonate with the protesters down in Zuccotti Park, three San Francisco bank officials have been charged with fraud after receiving nearly $300 million in federal bail out money during the Bush era financial crisis. United Commercial Bank CEO Thomas Wu, along with vice ... More >>
Don't tell Michele Bachmann about this
Sports Guy SimmonsThe warring of rich white men behind the scenes at magazine companies can be as dull as it sounds or, as in the case of Jack Griffin's firing from Time Inc. at the hands of Time Warner CEO Jeff Bewkes, it can be amusing, provided the powerful people are pissy and willing to ... More >>
By Nicole Maffeo and Gavin Aronsen Just how far has Republican Rick Lazio strayed from 270 Park Avenue in his campaign for governor? That's the address of JPMorgan Chase, where Lazio actively served as managing director until announcing his gubernatorial bid last year. (For details on his performa ... More >>
What do you get when you fall in love with Sean Hayes?
News item: "U.S. Government Unveils New Design for the $100 Note." The U.S. Treasury announced today a redesigned $100 bill, aimed at stopping counterfeiters. We have our own suggested redesign, replacing Ben Franklin with Goldman Sachs CEO Lloyd Blankfein.
According to Bloomberg News, Citigroup Inc., which got $45 billion dollars in bailout money from the federal government, will be raising the base salaries of their investment bankers and traders as much as 50%. Citigroup's market value dropped 84% in the past year.
State attorney general Andrew Cuomo this morning reached to take the first post-TARP scalp, accusing former Bank of America CEO Ken Lewis of pulling a massive fraud on both taxpayers and shareholders. "Egregious and reprehensible" were two of the kinder words Cuomo used in unveiling a civil lawsuit ... More >>
Mayor Mogul stepped on his own tongue yesterday while explaining away the Grand Poobah confab he attended with buddies Bill Gates, Warren Buffett, Ted Turner, the Rockefellers and Oprah, revealed in the Times today. "All my friends are philanthropic, or they probably wouldn't be my friends," he said ... More >>
A resignation letter from an AIG executive, Jake DeSantis, to boss Ed Liddy, long and full of hurt feelings ("you failed to stand up for us in the face of untrue and unfair accusations from certain members of Congress last Wednesday... you didn't defend us against the baseless and reckless comments ... More >>
Suits on Wall Street can use a little pillow love
The financial crisis has nearly exhausted our sense of outrage. When we first heard about the ridiculous bonuses Merrill Lynch paid out just before it collapsed into the arms of Bank of America -- which, as BoA is TARP-funded, amounted to a bailout -- we were shocked and angry, but now we just go ar ... More >>
The saga of the $4 billion in bonuses paid to collapsed Merrill Lynch just got funnier for everyone except the people who received the money. Having subpoenaed ousted Merrill Lynch CEO John Thain (and the head of Bank of America, which took the firm over) about the bonuses, AG Andrew Cuomo is said t ... More >>
Former Merrill Lynch CEO John Thain is having a bad week. Having just been thrown off the board of Bank of America, which took Merrill Lynch over, he has received a subpoena from New York Attorney General Andrew Cuomo, who is looking into the billions of dollars in bonuses Merrill paid out as it was ... More >>
The FDIC's work on IndyMac, which it seized in July, has not been in vain! Today it announced that it will sell the troubled lender to IMB HoldCo LLC, a consortium including honchos of Paulson & Co, Dune Capital, and other financial companies, and buyout specialist J. Christopher Flowers. Former Mer ... More >>
Andrew Cuomo's threats against major financial institutions are paying off. According to the International Herald Tribune, Merrill Lynch, Goldman Sachs, and Deutsche Bank have settled with state negotiators and will buy back at least $12.5 billion in auction-rate securities and pay $162.5 million in ... More >>
This video of protesters greeting Goldman Sachs investment bankers outside of their holiday party may be a week or so old, but the sentiments are timeless. And hearing the lyrics to "Frosty the Goldman" would melt even the coldest heart (unless of course that heart belongs to the bankers who profit ... More >>
Grace Perez built an influential domestic-violence program. Then she was fired.
It's fair to say the Bloomberg administration is not a fan of using the normal channels to do the people's business. To someparticularly fans of the mayor's successful bid to wrest control of the schools from the board of educationthat's a plus. Opponents of the failed West Side Stadium ... More >>
CBS parent's stock fell while duo raked in dough for on-the-job training
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Dictators Don't Belong in the Newsroom
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The Widening Wage Gap Between Male and Female Managers Is a Corporate Equivalent of the Cultural Backlash
Pacifica Falls Into Corporate Hands
Partial Victory for Dissident NYC Sierra Club Group
What's the Real Agenda Behind the City's Official Millennium Committee?