Archive for April 5th, 2009

Recession Jobs Losses Top 5 Million

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Published in the Wall Street Journal April 5, 2009 by Brian Blackstone

The U.S. continued to shed jobs at an unrelenting clip in March, pushing total losses since the recession started 16 months ago past five million.

The figures, which included another sharp rise in the unemployment rate to a 25-year high, are a sober reality check on the economy after some mildly encouraging news on housing, automobiles and manufacturing.

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Who Moved My Bonus? Executive Pay Makes a U-Turn

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Published in the New York Times April 5, 2009 by Kathryn Jones

Big corporations, buffeted by widespread economic pain and heightened scrutiny of lush compensation packages, appear to be paying attention to a longstanding complaint from shareholders: When it comes to executive pay, greed — even the appearance of it — is not good.

Executive compensation for the highest-paid chief executives at public companies fell in 2008, the first such downturn in five years.

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Executives Took, but the Directors Gave

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Published in The New York Times April 5, 2009 by Heather Landy

Little of the ire against outsize C.E.O. paychecks has been aimed at the people who signed off on them: corporate directors.

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London Bank Bonuses Drop 62%, More Than New York, Survey Shows

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Published in Bloomberg April 5, 2009 by Tom Cahill

Financial firms worldwide have posted more than $1 trillion of writedowns and credit losses since the subprime-mortgage market collapsed in 2007, triggering a squeeze on lending that’s driven the global economy into a recession.

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