Editorial Results (free)
1. Obama Nominates Pritzker, Froman for Economic Jobs
- Friday, May 03, 2013
WASHINGTON (AP) – President Barack Obama on Thursday chose two old friends with corporate executive experience for top posts on his economic team, naming longtime fundraiser Penny Pritzker as Commerce secretary and adviser Michael Froman as U.S. Trade Representative.
2. Obama Nominates Wal-Mart's Burwell as Budget Chief
- Tuesday, March 05, 2013
WASHINGTON (AP) – President Barack Obama on Monday nominated Wal-Mart's Sylvia Mathews Burwell as his next budget chief, thrusting her into the center of Washington's heated partisan budget battles.
3. 'Right Direction'
- Monday, October 04, 2010
Paul Rubin has a little more company these days when he rides his bicycle with the Memphis Hightailers Bicycle Club. He’s been a member for more than 20 years, but right now about half of the club is just getting started.
4. Rubin is Challenged on Role in Citi's Risk-Taking
- Friday, April 09, 2010
WASHINGTON (AP) - Robert Rubin, the former financial superstar once lionized for his global crisis-fighting prowess, was scolded Thursday over the mortgage-securities disaster at Citigroup Inc. when he was a top executive there. His claim he didn't know of the risks piling up drew a sharp retort.
5. Fmr. Citi Exec Warned Rubin About Mortgage Risk
- Thursday, April 08, 2010
WASHINGTON (AP) - A former executive of Citigroup Inc. is telling a panel investigating the roots of the financial crisis that he warned former chairman Robert Rubin and other bank leaders about the coming mortgage crisis back in 2006.
6. Lowery Transition Team In Place
- Wednesday, July 01, 2009
Incoming Memphis Mayor Myron Lowery has named his transition team.
The five member team will be headed by City Council member Bill Boyd who is a former city division director, heading the Public Services division under Mayor Wyeth Chandler. The district two representative assisted in another city political transition in the 1960s. As a city employee, Boyd was part of the transition of city government to the then new City Hall in 1967.
7. UPDATE: Lowery Transition Team Includes Boyd, Sammons and Rubin
- Tuesday, June 30, 2009
Incoming Memphis Mayor Myron Lowery has named his transition team.
The five member team will be headed by City Council member Bill Boyd who is a former city division director, heading the Public Service division under Mayor Wyeth Chandler. The district two representative assisted in another city political transition in the 1960s. As a city employee, Boyd was part of the transition of city government to the then new City Hall in 1967.
8. At Citi's Annual Meeting, Shareholders Get Angry
- Wednesday, April 22, 2009
NEW YORK (AP) - The anger was evident at Citigroup Inc.'s annual meeting, where all nominated directors were elected but shareholders took turns at the microphone to vociferously object to the bank's performance over the past year.
9. Citigroup Nominates New Independent Directors
- Tuesday, March 17, 2009
Citigroup has nominated four new independent directors – including two former bank chief executives and two other financial experts – to stand for election at its annual meeting in April.
The announcement Monday comes as part of a continuing shuffling of the troubled bank’s board. Its shares climbed more than 30 percent.
Investors have long criticized Citigroup’s board for allowing the bank to make so many investments in the risky housing market – actions that have led to the bank reporting five straight quarterly losses.
Richard Parsons, who took over as chairman last month, has said he planned to look for people with proven business judgment and experience in the financial sector to replace retiring directors overseeing the company.
The board currently has 15 directors, three of whom previously announced they will not stand for re-election and two of whom will be of retirement age by the time of the shareholder meeting.
The candidates are Jerry A. Grundhofer, Michael E. O’Neill, Anthony M. Santomero and William S. Thompson Jr.
Grundhofer, 64, is chairman emeritus and former chairman and CEO of U.S. Bancorp; O’Neill, 62, is former chairman and CEO of Bank of Hawaii; Santomero, 62, most recently served as a senior adviser at McKinsey & Co. and is the former president of the Federal Reserve Bank of Philadelphia; and Thompson, 63, is the former CEO of bond investment manager Pimco.
With the election of the four candidates, Citigroup would have 14 board members. The bank says the board also will consider future additions.
Parsons, the former head of Time Warner Inc., is one of the few Citigroup directors with experience in banking and leading a large company. Before joining Time Warner in 1995, Parsons served as chairman and CEO of Dime Bancorp Inc., one of the largest U.S. thrift institutions. Parsons also was an economic adviser on President Barack Obama’s transition team.
The three directors who have already announced they will depart from the board are Roberto Hernandez Ramirez, the chairman of Citi’s Mexican banking operations; Robert Rubin, a former U.S. Treasury secretary who was a longtime Citigroup board member; and Win Bischoff, most recently chairman at Citigroup. Ramirez said he will not stay on the board beyond his current term, while both Rubin and Bischoff have announced their retirement from the bank.
After suffering a loss of $8.29 billion in the fourth quarter, Citigroup announced it would reorganize into two units, Citicorp and Citi Holdings. The first will focus on traditional banking, while the second will hold the company’s riskier assets and tougher-to-manage ventures. In addition to receiving billions in government support, plus federal guarantees to cover losses on risky investments, the New York-based bank has agreed with the Treasury Department on a deal giving the government up to a 36 percent stake....
10. Report: Citi May Nominate Ex-Bank CEOs to Board
- Monday, March 16, 2009
NEW YORK (AP) - Citigroup Inc. will likely nominate two former bank chief executives and two other financial experts to be directors as part of a shuffling of the embattled bank's board, according to a media report.
11. Citigroup Reaches Aid Deal with Government
- Monday, March 02, 2009
WASHINGTON (AP) - The U.S. government will exchange up to $25 billion in emergency bailout money it provided Citigroup Inc. for as much as a 36 percent equity stake in the struggling bank, greatly increasing the risks to taxpayers as voter unhappiness about the broader bailout program rises.
12. FedEx Continues Weathering Economic Storm
- Wednesday, October 15, 2008
It is arguably the most successful business story to emerge from Memphis, and it is a company whose performance is widely regarded as a ground-level indicator of the country’s economic health.
So it’s probably no surprise last week’s wild stock market swings did not spare
13. New Binghampton Senior Facility Planned
- Friday, August 08, 2008
Two generations ago, Darrell Cobbins’ grandfather developed one of Memphis’ first black middle-income communities called Lakeview Gardens.
Over the next couple of years, Cobbins, a commercial real estate developer and broker, will bring a 133-unit senior housing facility to Binghampton, and he’ll pay homage to his real estate lineage by calling it Lakeview Estates.
14. Mayor to Unveil Minority Developers' Initiative
- Tuesday, February 26, 2008
Memphis Mayor Willie Herenton wants more women and other minority businesspeople to learn the fundamentals about one of the most competitive corners of the city's economy: real estate development.
That's why he's unveiling a new initiative this afternoon to do exactly that, the details of which will be made public at a City Hall press conference in the Hall of Mayors. The city is launching a new program called the Diversity Developer Incubator, though the word "incubator" in the title is not an indication the program will look like similar business incubators such as EmergeMemphis or the Mid-South Minority Business Council.
15. Archived Article: Santi
- Tuesday, May 18, 1999
Market commentary Market commentary Last week, interest rates on 30-year, fixed-rate conventional and government loans increased by about one-half of a discount point, which is 1 percent of the loan amount. The net increase in mortgage rates since t...
16. Archived Article: Memos
- Wednesday, June 24, 1998
Sheila Collins has been promoted to vice president at Arnoult & Associates Sheila Collins has been promoted to vice president at Arnoult & Associates. She formerly was project director and operations manager. Collins has an undergraduate deg...
17. Archived Article: Santi
- Tuesday, January 27, 1998
Last week, interest rates on 30-year fixed-rate conventional and government loans rose by about 3/8 of a discount point Market commentary. Last week, interest rates on 30-year, fixed-rate conventional and government loans rose by about three-eighths...
18. Archived Article: Govt Briefs
- Friday, March 01, 1996
03-01 Govt briefs Susan Estrich, a nationally syndicated columnist for USA Today and the national campaign manager for 1988 presidential candidate Michael Dukakis, will discuss "Politics, Politicians and the People" on Tuesday at 7:30 p.m....