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CEOs who cut the most jobs during the recession earned an average of 42% more than their S&P 500 peers, according to a study by the Institute for Policy Studies. Top execs at the 50 firms that laid off the most workers since the economic crisis began averaged nearly $12 million in 2009.

Continue reading Paid Off for Layoffs: CEOs at Pink Slip Leaders Earned 42% More in 2009

Paid Off for Layoffs: CEOs at Pink Slip Leaders Earned 42% More in 2009 originally appeared on DailyFinance on Wed, 01 Sep 2010 09:50:00.

Filed Under: Company News, Economy, People, Hewlett-Packard, IBM, Ford Motor Co, Johnson & Johnson, American Express, AT&T, Bank of America, Wal-Mart Stores, Verizon, Citigroup, Merck, General Motors, Walt Disney

Defense is the best offense, according to some savvy strategists, as intense volatility continues to rock the market. Here are some solid defensive stocks -- and some offensive stocks to avoid.

Continue reading Inside Wall Street: Playing Smart Defense in a Volatile Market

Inside Wall Street: Playing Smart Defense in a Volatile Market originally appeared on DailyFinance on Mon, 30 Aug 2010 11:30:00.

Filed Under: Investing, JP Morgan Chase, IBM, Coca-Cola Company, Bank of America, Citigroup

Bank of America Corp (BAC) will offer free services and reimbursement for losses to as many as 17 million consumers to settle allegations of data theft related to its Countrywide Financial mortgage unit.

The accord settles more than 30 lawsuits filed since Aug. 2008, The Los Angeles Times reported. Federal authorities accused Rene L. Rebollo, who worked for the Countrywide subprime division, of...

Continue reading Bank of America Settles Data Theft Claims

Bank of America Settles Data Theft Claims originally appeared on DailyFinance on Tue, 24 Aug 2010 06:57:00.

Filed Under: Company News, People, Bank of America, Credit, Stocks in the News

Brian Moynihan, CEO of Bank of America Corp. (BAC), bought 30,000 shares in the company on Monday.

Moynihan paid $391,000, or $13.03 a share, for the stock, Dow Jones Newswires reported. The purchase could be seen as a sign of confidence in the bank as its shares hover near a 52-week low.

Bank of America's shares have lagged broader stock-market indexes since the bank reported earnings last month....

Continue reading Bank of America CEO Moynihan Buys $391,000 of Stock

Bank of America CEO Moynihan Buys $391,000 of Stock originally appeared on DailyFinance on Tue, 24 Aug 2010 06:42:00.

Filed Under: Company News, People, Investing, Bank of America, Credit, Stocks in the News

New York Attorney General Andrew Cuomo has sued Bank of America over its Merrill Lynch takeover, claiming it failed to disclose what bad shape Merrill was in before shareholders voted on the deal. Responses to the charges have been filed, with ex-CEO Ken Lewis' the most aggressive.

Continue reading Legal Briefing: BofA's Ex-CEO Comes Out Swinging at NY AG's Charges

Legal Briefing: BofA's Ex-CEO Comes Out Swinging at NY AG's Charges originally appeared on DailyFinance on Sat, 21 Aug 2010 11:25:00.

Filed Under: Company News, Columns, Bank of America