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Dow Chemical shareholders OK say on executive pay

May 14, 2009 8:32 am | by ERNEST SCHEYDER - AP Energy Writer - Associated Press | News | Comments

NEW YORK (AP) — Dow Chemical shareholders narrowly approved a proposal Thursday to have nonbinding say on executive compensation.The vote at the annual meeting in Midland, Mich., comes after a very tough year for the nation's largest chemicals maker and its chief executive, Andrew Liveris.Dow...

Judge denies Chrysler retirees' motion

May 14, 2009 8:21 am | by BREE FOWLER - AP Auto Writer - Associated Press | News | Comments

NEW YORK (AP) — A bankruptcy judge on Thursday denied a request from a group representing Chrysler LLC's retired white collar workers to appoint an official retiree committee to take part in the automaker's bankruptcy proceedings.U.S. Judge Arthur Gonzales said that any decisions regarding the...

Civil trial under way in Michigan for ex-Kmart CEO

May 14, 2009 8:16 am | by ED WHITE - Associated Press Writer - Associated Press | News | Comments

ANN ARBOR, Mich. (AP) — A civil trial is under way in a federal court in Michigan where former Kmart Chief Executive Charles Conaway could be barred from serving as an officer or director of a public company.Conaway was Kmart's chairman and CEO in 2001. The Securities and Exchange Commission...

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Trustee: Nearly 9,000 claims in Madoff scam

May 14, 2009 8:06 am | by TOM HAYS - Associated Press Writer - Associated Press | News | Comments

NEW YORK (AP) — A court-appointed trustee unraveling Bernard Madoff's massive fraud signaled Thursday that he may go after the disgraced financier's family to pay victim claims, which have grown to almost 9,000.Legal action against the family "is a matter that's being looked into," trustee Irving...

Madoff sentencing postponed

May 14, 2009 7:41 am | by The Associated Press | News | Comments

NEW YORK (AP) — The sentencing of disgraced financier Bernard Madoff has been postponed until June 29.U.S. District Judge Denny Chin had originally set the date for June 16. He changed it on Thursday without explanation.The 70-year-old Madoff pleaded guilty March 12 to running a massive Ponzi...

4 ways to spring clean your house for less

May 14, 2009 7:36 am | by ASHLEY M. HEHER - AP Retail Writer - Associated Press | News | Comments

CHICAGO (AP) — Flowers are blooming and the sun's rays are streaming through your windows — making clear by the streaks on the glass and dust in the air just how dirty the house really is.But before you break out the mop, the wipes and the high-powered cleansers for a big spring clean, remember...

Exec in Stanford fraud case pleads not guilty

May 14, 2009 7:30 am | by JUAN A. LOZANO - Associated Press Writer - Associated Press | News | Comments

HOUSTON (AP) — The chief investment officer of Texas billionaire R. Allen Stanford's companies pleaded not guilty Thursday to charges stemming from the first indictment in the federal government's investigation of the troubled financial firm.Laura Pendergest-Holt will remain free on bond after...

SEC mulling new rules for investment funds

May 14, 2009 7:20 am | by MARCY GORDON - AP Business Writer - Associated Press | News | Comments

WASHINGTON (AP) — Federal regulators on Thursday proposed requiring most investment advisers to submit to surprise exams by outside auditors, a move aimed at patching gaps that allowed Bernard Madoff to deceive investors about their funds' health.The Securities and Exchange Commission voted 5-0 at...

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Carlisle temporarily closing truck trailer plants

May 14, 2009 6:45 am | by The Associated Press | News | Comments

SIOUX FALLS, S.D. (AP) — Carlisle Cos. Inc. said Thursday it will temporarily close heavy truck trailer production operations in North Dakota and Pennsylvania.Production at Carlisle's Trail King Industries in those two states will be consolidated with its Mitcehll, S.D. operations during the...

Canadian flight training firm cuts 10 percent

May 14, 2009 6:45 am | by The Associated Press | News | Comments

MONTREAL (AP) — The Canadian flight training company CAE Inc. is slashing 700 jobs, or 10 percent of its work force, in anticipation of a drop-off in orders from the civil aviation sector.CAE says Thursday the cuts will include 600 positions at its Montreal operations. It hopes the moves will save...

Rambus says FTC has dropped antitrust claims

May 14, 2009 6:34 am | by ANDREW VANACORE - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — Rambus Inc. said Thursday that the Federal Trade Commission has dropped its claim that the memory chip company violated antitrust laws in patenting technologies that were eventually incorporated into industry standards.The company's shares jumped 14 percent in trading...

Ford shareholders approve stock offering

May 14, 2009 6:29 am | by RANDALL CHASE - AP Business Writer - Associated Press | News | Comments

WILMINGTON, Del. (AP) — Ford Motor Co. shareholders on Thursday approved the company's request to issue shares of common stock to help pay some of its health care obligations to retired autoworkers.At the automaker's annual meeting in Delaware, more than 95 percent of shareholders voted to...

Berkshire sells 2.4M more Constellation shares

May 14, 2009 6:29 am | by The Associated Press | News | Comments

OMAHA, Neb. (AP) — Billionaire Warren Buffett's company sold more of the 20 million shares of Constellation Energy Group Inc. it received when Constellation rejected a takeover bid.Berkshire Hathaway Inc.'s Iowa-based utility company, MidAmerican Energy Holdings Co., recently sold 2.35 million...

Chrysler moves to eliminate 789 of 3,200 dealers

May 14, 2009 6:14 am | by DAN STRUMPF - AP Auto Writers - Associated Press | News | Comments

NEW YORK (AP) — Chrysler LLC wants to eliminate roughly a quarter of its 3,200 U.S. dealerships by early next month, saying in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other.The company, in a motion filed with the U.S. Bankruptcy...

Brazil stocks up after falling in previous session

May 14, 2009 5:54 am | by The Associated Press | News | Comments

SAO PAULO (AP) — Brazil stocks are edging higher after shares of the nation's big companies were battered during the previous session.Sao Paulo's Ibovespa index was up 0.3 percent to 48,812 during the first 30 minutes of trading. Brazil's currency slipped to 2.11 per dollar.Thursday's advances in...

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