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Buffett: US 'Doing the Right Things'

(Newser) - Warren Buffett said today the US government is taking the correct actions to help the economy recover. "The government is doing the right things," Buffett said before the opening of Berkshire Hathaway's annual shareholder meeting. "They're acting in a countercyclical manner." But he said he can't...

Financial 'Pearl Harbor' Is Past, Says Buffett

Oracle confident as he prepares to be buffeted by shareholders

(Newser) - The Oracle of Omaha still sees tough times ahead for the US economy, but he says he thinks the worst is in the past, CNCBC reports. “We’re at a war now to some degree, but Pearl Harbor was September,” Warren Buffett says. “There was a strike...

Angry Shareholders Pelt Bank Chairman With Shoes

Fortis meeting turns ugly as investors start singing 'La Marseillaise'

(Newser) - An emergency meeting of troubled Belgian bank Fortis had to be suspended today after raucous shareholders raided the stage and pelted the bank's chairman with shoes. The bank is attempting to broker a sale to BNP Paribas, the French giant, but angry small shareholders booed, shouted down speakers and demanded...

Times Co. Won't Go Private, Sulzberger Says

'We unequivocally believe in our future' despite revenue falloff

(Newser) - The New York Times Company does not intend to take itself or its flagship newspaper private, the Wall Street Journal reports. Chairman Arthur Sulzberger Jr. also told a shareholder meeting today that Carlos Slim, the Mexican billionaire who recently bought a large stake in the company, had no interest in...

Firms Reprice Employees' Worthless Stock Options

Repricing plans toss lifeline to 'underwater' stock option holders

(Newser) - Major firms are trying to boost morale by giving workers another chance to profit on stock options made worthless by the stock market dive, the Washington Post reports. Many employees—especially execs—are currently stuck with "underwater" options with a strike price above the trading price. Close to...

Buffett Has Worst Year Ever
 Buffett Has Worst Year Ever 
Feb 28, 2009 10:11 AM CST

Buffett Has Worst Year Ever

(Newser) - Not even legendary investors can escape this mess. Warren Buffett’s Berkshire Hathaway posted its worst year ever in 2008, the Wall Street Journal reports. A key indicator, book value per share, fell 9.6%, only the second loss since Buffett took control of the company in 1965. Berkshire reported...

Shareholders Rage at Apple Board's Silence on Jobs

Apple board rebuffs requests for updates on CEO's health

(Newser) - Apple shareholders left an annual meeting today upset at the company’s board for staying mum about CEO Steve Jobs’ health, the Wall Street Journal reports. Considered the company’s chief innovator, Jobs rattled Apple’s stock price last month with news that treatment for a hormone imbalance would sideline...

Apple Needs to Tell the Truth About Jobs' Health

Firm's secrecy is a disservice to its investors

(Newser) - It’s possible, but not likely, that something truly changed in the days between Steve Jobs discounting his health issues as a “hormone imbalance” and deciding he needed to take a medical leave from Apple. That means, writes Joe Nocera in the New York Times, that America’s “...

PR Blitz Aside, Big Oil Drilled Consumers for Stockholders

As demand drops, companies shelve plans to explore—among moves that benefit shareholders, not consumers

(Newser) - Despite public-relations campaigns designed to make consumers think otherwise, big oil companies remain firmly tied to doing what’s best for their stockholders and bottom line, the Los Angeles Times reports. Though demand has outstripped production, companies spend more on stock buybacks than supply-boosting exploration. But, one analyst notes, “...

Apple Bats Down Latest Jobs Death Rumor

Report that CEO had heart attack is false, company says

(Newser) - Apple again today was forced to quash rumors about the health of CEO Steve Jobs, refuting a report that the CEO had suffered a “major heart attack,” Bloomberg reports. Shares fell as much as 5.4% following a post on CNN’s citizen-journalist iReport site, but have since...

Cheney Hits Hill to Rally GOP Support for Bailout

VP 'walking into a firing squad' says one House aide

(Newser) - Dick Cheney met with House Republicans today to try to shore up support for the administration’s financial bailout plan, Fox News reports. The plan faces considerable opposition from conservatives who are wary of what they see as a “socialist” solution and its huge price tag. "Cheney is...

BofA Could Partner With China Fund on Lehman Bid

Bankruptcy remains possibility for firm

(Newser) - Bank of America could partner with financial investor JC Flowers and a Chinese sovereign wealth fund on a bid to rescue Lehman Brothers, the Financial Times reports. The hobbled investment bank had resisted selling itself, but is now eagerly seeking suitors before the last of its goodwill on Wall Street...

Jobs, Execs Settle Suit on Backdated Apple Options

Tentative $14M deal will put an array of state and federal lawsuits to rest

(Newser) - Apple CEO Steve Jobs and several current and former execs have reached a tentative settlement on a shareholder lawsuit alleging they backdated stock options to boost their pay, the Wall Street Journal reports. Apple will receive $14 million in the deal, which would end a series of state and federal...

Mexican Media Tycoon Buys 6.4% of New York Times

Experts speculate Carlos Slim may be looking to buy or control media company

(Newser) - The world’s second-richest man, Mexican media tycoon Carlos Slim, has purchased a 6.4% stake in the New York Times Company. He says the buy was a purely financial—not strategic—move, but analysts say he may be positioning himself to make a play for the Gray Lady, reports...

Rumors About Jobs' Health Hit Ghoulish Point
Rumors About Jobs' Health Hit Ghoulish Point
OPINION
Jul 23, 2008 8:21 AM CDT

Rumors About Jobs' Health Hit Ghoulish Point

Speculation about Apple boss has crossed the line

(Newser) - Speculation about the state of Steve Jobs' health is reaching fever pitch, and the scramble to know more is over the top, Tom Krazit writes in CNET. Shareholders, concerned by the Apple CEO's recent weight loss and the fact that he once had pancreatic cancer, are calling for full disclosure....

Yahoo Takes Icahn Fight to Homepage
Yahoo Takes Icahn Fight  to Homepage
Jul 19, 2008 12:22 PM CDT

Yahoo Takes Icahn Fight to Homepage

Link shows decline in businesses he's worked with

(Newser) - A new button on Yahoo's homepage links users to the company's case against activist investor Carl Icahn, PC World reports. Icahn is seeking to unseat Yahoo's board at its Aug. 1 general meeting. The page links to voting forms and leaves shareholders in no doubt how the company thinks they...

Feds Approve Icahn's Yahoo Stock Buys

Activist investor plans additional $2.5B outlay to boost proxy bid

(Newser) - The Federal Trade Commission gave Carl Icahn approval to purchase additional chunks of Yahoo stock, part of the activist investor's plan to gain control of the company's board and perhaps force a sale, MarketWatch reports. Icahn already owns 59 million Yahoo shares and options and is reportedly seeking 93 million...

Shareholders Rubber-Stamp Bear Selloff

84% OK JPMorgan buyout; chairman 'sad' over firm's demise

(Newser) - The buyout of Bear Stearns neared finality today with 84% of shareholders voting in favor of acquisition by JPMorgan Chase, the Wall Street Journal reports. Chairman James Cayne shared his feelings publicly with shareholders about the bank’s demise for the first time: "I personally apologize,” he stated,...

Rockefellers Pump Exxon Execs for Changes

Family wants independent chairman, climate change initiatives

(Newser) - Executives at Exxon are bracing for an onslaught from the Rockefeller family, whose patriarch founded the oil firm’s predecessor a century ago, the Wall Street Journal reports. Led by John D. Rockefeller’s great-granddaughter, the family wants Exxon to pursue renewable forms of energy and appoint an independent chairman.

Yahoo Postpones Boardroom Showdown

Company buys more time to prepare for proxy battle

(Newser) - Yahoo has pushed back its annual shareholder meeting for a second time, reports Forbes, delaying a showdown for control of its board. One of Yahoo's 10 directors resigned yesterday, leaving nine up for re-election at the meeting. Carl Icahn has nominated an alternate slate of directors, including himself, and will...

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