Each day, the sub-prime lending miscalculation is looking more and more like a repeat of the dot.com meltdown. First, the fringe companies fall. Then a few name brand companies are claimed. Finally, the blue chips take their hit. I’ve updated the Citigroup contracts to include the Charles Prince’s Severance Agreement.
New York Times DealBook: Sovereign Ex-Chief Says His Exit Was ‘Misinterpreted’. When Jay Sidhu resigned as chief executive of Sovereign Bancorp last October amid pressure from investors over his deal-making, the Philadelphia-based bank said he was leaving for “family health reasons.” Later, though, Sovereign disclosed in regulatory filings that Mr. Sidhu had faced “threatened [...]
DealBook: Thomas Weisel C.F.O. to Resign. Thomas Weisel Partners, the technology-oriented investment bank that went public a year ago, said that its chief financial officer, Robert K. West, would leave the firm April 6 to “pursue other interests.”
I’ve added Robert West’s Separation Agreement with Thomas Weisel to the website. I’m puzzled though. Why [...]
Gap Inc. announced that CEO Paul Pressler will step down from his position as president and chief executive officer of the company, as well as resign his seat on the company’s board, effective immediately.
Pursuant to the Employment Agreement between Gap Inc. and Paul Pressler, Pressler is eligible for up to approximately $14 million associated with [...]
Marketplace:: Sloan Sessions: Goodbye Bob Nardelli. When Home Depot CEO Bob Nardelli resigned last week, a lot of people were outraged at his severance package: $210 million. That’s a lot of money for a CEO whose company struggled badly while he was on the job.
When Carly Fiorina walked away from HP with [...]
New York Times: KB Home Ousts Its Chief and 2 Others. The longtime chief executive of KB Home, one of the nation’s largest home builders, resigned under pressure on Sunday night and agreed to return $13 million in profit from backdated stock options, the company said.
At first, I thought the stock options backdating problem was [...]
