The resignation of Mike Hervey, the embattled chief executive of the Long Island Power Authority, ended for the moment the brutal headlines and fierce attacks on the utility from New York’s elected officials. At first glance, Hervey’s exit seems to follow a familiar narrative: a company stumbles badly in a crisis and the CEO is […]
A few months before the election, a senior Republican warned the GOP could lose the presidential race by a wide margin unless it moderated its stand on issues like climate change and immigration to appeal to independent voters. In the aftermath of Mitt Romney’s defeat, it looks like a prescient call. Except the official wasn’t […]
It’s easy to dismiss the carbon market as a passing fad or an artifact of a more optimistic, pre-recession world. Yet carbon trading continues to grow, following a trail blazed by another asset class that once seemed obscure and risky but is now a cornerstone of the investing world: emerging market bonds.
If ever there was a guy who might want to disappear after a disaster, it’s Joe Girardi, manager of the New York Yankees. His team lost the American League Championship in a humiliating four-game sweep – the team’s first in thirty-six years. But instead of hiding away until spring training, Girardi went public. It’s a […]
It’s embarrassing anytime a company’s earnings are released accidentally. But when the company is a giant known for its savvy technology skills, well, it’s a calamity. Amid the morning-after explanations, several questions remain unanswered.
Here are four quick observations following Vikram Pandit’s surprise resignation as Citigroup CEO: 1. The bank deserves high marks for projecting a positive and consistent message from what was surely a contentious and tense situation. Abrupt CEO resignations come amid difficult board meetings, harsh words and hard negotiations. But this morning’s news release was solid […]
Investors are growing impatient with the slow pace of the turnaround at State Street Bank. The bank’s stock price has barely budged in three years, but its senior executives have reaped princely sums – just the sort of thing to set investors’ teeth grinding. The bank’s poor performance is compounded by poor communication.
I participated in a conference this week on the outlook for the carbon market. Yes, there really is a carbon market, and it has made big strides this year, though you wouldn’t have known it from the press. Most of the media – and our elected officials – ignore the issue. They’re blinded by outdated […]
Martin Wheatley of the UK’s Financial Services Authority on Friday announced plans to overhaul Libor, which has been at the center of a rate-fixing scandal involving Barclays and other major banks. Wheatley called for significant changes in the way Libor is set, and encouraged reform of other commonly used benchmarks with similar weaknesses – something […]
A piece by New York Times media columnist David Carr has started a lively discussion on the practice of allowing quotes to be approved before they’re published.