Ray Irani bids adieu to Occidental. Occidental Petroleum Corporation's Chairman Ray Irani was ousted from his position as Chairman last Saturday by the shareholders of the firm.
North America
Facebook overvalued according to Barron's
Facebook should just be pegged at US$25.00, according to Barron's. In a review by financial newspaper Barron's, it said that Facebook shares may be overvalued despite getting a boost from first quarter reports that met industry analysts' expectations.
Neiman Marcus to be either sold or undergo IPO
The private equity owners of Neiman Marcus are either selling off the asset or would list an IPO to raise capital funds.
JP Morgan CEO to have more oversight
The proposal to either split the CEO and Chairman position or impose more oversight of the CEO-Chairman subject to approval by JP Morgan shareholders.
BMC Software to be bought out
A consortium of private equity firms are in the process of buying out BMC Software. A consortium consisting of Bain Capital and Golden Gate Capital Corp are near to finalizing a deal that would lead to the acquisition of BMC Software.
Latest News
ISS advises shareholders in JP Morgan to elect independent chairman. Proxy advisory firm Institutional Shareholder Services advised JPMorgan Chase & Co to disassociate the duties of a Chairman from the Chief Executive Officer.
The Special Committee of Bioniche Life Sciences responded to the request for a special meeting with a letter saying no.
Wall Street is expecting the Federal Reserve to continue implementing its stimulus program. Wall Street is urging the Federal Reserve to purchase a total of US$1.
Vinik Asset Management is set to wind up its business, according to a report from the Wall Street Journal.
LTC Properties to undertake IPO to increase its capital funds. LTC Properties is now in the midst of capital building through an underwritten public stock issue.
Dish Network bid cut up by Softbank CEO. Softbank's list of achievements in order to acquire Sprint Nextel just got shorter when it was allowed by the Securities and Exchange Commission to send out proxy materials to its shareholders regarding the upcoming vote for the said buyout transaction.
The new board elected for Stillwater Mining comprise nominees from the Clinton Group, an activist investor in the company.
Credit Suisse files suit against former employee that jumped ship to rival Goldman Sachs. Credit Suisse Group AG has filed suit against its former vice president for emerging markets group on the grounds she stole confidential documents and trade secrets prior to her transfer to Goldman Sachs.
Berkshire Hathaway reports record earnings for its shareholders in meeting with Warren Buffett. In the announcement during its shareholders meeting held at Omaha, Nebraska last Friday, Warren Buffett said that quarterly profit rose nearly 51% on solid performance of its investments in insurance and other businesses, together with revenues from derivatives.
