Ex-Wachovia chief executive Ken Thompson (left) and outgoing Washington Mutual Chairman Kerry Killinger. |
Two big institutions shake up leadership
Wachovia CEO pushed to retire after ill-timed acquisition; Washington Mutual's boss stripped of his chairman title
By Ieva M. Augstums
ASSOCIATED PRESS
CHARLOTTE, N.C. – Less than a month after losing his chairman post, and more than two years after an ill-timed acquisition of California mortgage lender Golden West Financial, Wachovia Corp. said yesterday that board members have forced CEO Ken Thompson to retire from the nation's fourth-largest bank.
Futures' volatility sows seed of change
Commodity-trading rules to get tougher
By Diana B. Henriques
NEW YORK TIMES NEWS SERVICE
Regulators of the nation's commodity markets will demand more information about investors to determine whether they are evading market limits on speculation and artificially driving up world food prices.
Airlines expecting huge loss of profits
High oil prices, economy blamed
By Caroline Brothers
NEW YORK TIMES NEWS SERVICE
ISTANBUL, Turkey – Citing high oil prices and the slowing economy, the International Air Transport Association yesterday sharply lowered its industry forecast for 2008, saying it now expected a collective loss of at least $2.3 billion.
Class-action attorney gets 30 months in kickback case
By Greg Risling
ASSOCIATED PRESS
LOS ANGELES – Prominent attorney Melvyn Weiss was sentenced yesterday to 30 months in prison after authorities accused him of helping orchestrate a lucrative lawsuit kickback scheme targeting some of the largest corporations in the nation.
Kindle seems to spark e-book growth
Publishers adding more titles for Amazon device
By Eric Benderoff and Wailin Wong
CHICAGO TRIBUNE
About six months after its introduction, Amazon's Kindle electronic reading device is entering its first beach season amid increasing discussion that the gadget may have a future.
