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Corporate boards weigh CEO pay changes for 2009

May 2, 2009 8:54 am | by RACHEL BECK - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — CEO pay fell in 2008, but will the pullback last?The answer hinges on whether corporate boards make changes now to keep compensation at less stratospheric levels for the long term.For critics of high executive pay, this is the year when public and political anger has lined up firmly...

Where are the CEOs on AP's 2007 top-paid list?

May 2, 2009 8:54 am | by RACHEL BECK - AP Business Writer - Associated Press | News | Comments

Six of the 10 best-paid CEOs in 2007 in The Associated Press survey of Standard & Poor's 500 companies made less money last year. Two left their posts altogether. One saw their compensation rise. Here's a rundown of how they fared. CEOs are listed with the companies they headed in 2007.___1. Larry...

Old Japanese maps on Google Earth unveil secrets

May 2, 2009 7:43 am | by JAY ALABASTER - Associated Press Writer - Associated Press | News | Comments

TOKYO (AP) — When Google Earth added historical maps of Japan to its online collection last year, the search giant didn't expect a backlash. The finely detailed woodblock prints have been around for centuries, they were already posted on another Web site, and a historical map of Tokyo put up in...

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Columbian seeks Chapter 11 bankruptcy protection

May 2, 2009 7:28 am | by The Associated Press | News | Comments

VANCOUVER, Wash. (AP) — The company that publishes The Columbian newspaper in Vancouver, Wash., has filed for Chapter 11 bankruptcy protection in an effort to resolve credit issues involving a building project.The Columbian Publishing Co. made the filing Friday in U.S. Bankruptcy Court in...

Some see early signs of rising tide for boats

May 2, 2009 7:27 am | by STEVE KARNOWSKI - Associated Press Writer - Associated Press | News | Comments

HAM LAKE, Minn. (AP) — The economy was a big part of why Soua Xiong held off buying a new fishing boat for the past couple years. Hoping the worst was over, he was ready to do more than look when he walked into the Rapid Sport Marine showroom."It's a good time to buy. It's time for a change and I...

Magna Entertainment pulls Pimlico from sale plan

May 2, 2009 7:07 am | by RANDALL CHASE - AP Business Writer - Associated Press | News | Comments

DOVER, Del. (AP) — Pimlico Race Course in Baltimore and Magna Entertainment Corp.'s other horse racing assets in Maryland are off the auction block, at least for now.In a filing submitted late Friday in its bankruptcy case, the company said it has dropped Pimlico, home of the second jewel of the...

Buffett says government is doing the right things

May 2, 2009 5:46 am | by JOSH FUNK - AP Business Writer - Associated Press | News | Comments

OMAHA, Neb. (AP) — Billionaire Warren Buffett spent Saturday praising the decisions U.S. officials made to right the economy in the midst of a "financial hurricane" and defending the ones he made to help his company navigate the storm.The state of the economy and Berkshire Hathaway Inc.'s recent...

Chrysler expected to sell assets to Fiat

May 2, 2009 2:50 am | by BREE FOWLER - AP Business Writers - Associated Press | News | Comments

NEW YORK (AP) — Chrysler LLC is expected to file a motion Saturday to sell substantially all of its assets to Italian automaker Fiat Group SpA, but the ailing automaker must still deal with creditors who refused to come to a deal to erase the company's debt.Attorneys for Chrysler say eight plants...

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Ex-NYC stock trader pleads guilty to stealing $16M

May 2, 2009 2:04 am | by The Associated Press | News | Comments

NEW YORK (AP) — A former New York City stock trader has pleaded guilty to stealing $16 million he had promised to invest for friends and clients.David Holzer pleaded guilty Thursday in state Supreme Court in Manhattan. He faces five to 15 years in prison when sentenced Sept. 22.Holzer was arrested...

Flu fighters warn against complacency, seek clues

May 2, 2009 2:04 am | by PAUL HAVEN - Associated Press Writers - Associated Press | News | Comments

MEXICO CITY (AP) — The leader of an international team helping Mexico face down the swine flu outbreak said it should soon learn whether the epidemic is really stabilizing in Mexico, but that many key questions about how the disease kills still need to be answered.Dr. Steve Waterman, the head of a...

Reports: Fiat head to discuss Opel takeover

May 2, 2009 12:48 am | by The Associated Press | News | Comments

BERLIN (AP) — The head of Italian carmaker Fiat SpA, which is in the process of acquiring U.S. automaker Chrysler, is continuing talks with German officials about a possible takeover of General Motor's Opel unit, according to media reports Saturday.Both the Sueddeutsche Zeitung newspaper and Focus...

ADB to boost lending by $10B as crisis hits poor

May 2, 2009 12:48 am | by The Associated Press | News | Comments

NUSA DUA, Indonesia (AP) — The Asian Development Bank will boost lending to the region's poorest nations by more than $10 billion over two years, warning Saturday that the global economic crisis is jeopardizing the U.N.'s goal to halve poverty by 2020.The announcement comes just days after the...

Some Little League teams feeling recession's pinch

May 2, 2009 12:48 am | by GENARO C. ARMAS - AP Sports Writer - Associated Press | News | Comments

Little League baseball has always been as much about fundraisers and concession stands as balls and strikes. This year, teams expect a scramble to get a sponsor's name on the back of their jerseys.Registration is down in some areas around the country, a trend local administrators attribute in large...

Report: Citigroup may need $10B in extra capital

May 2, 2009 12:48 am | by The Associated Press | News | Comments

NEW YORK (AP) — Citigroup Inc. may need to raise as much as $10 billion to meet the government's increased capital standards for banks outlined in its stress tests, according to a report.The New York-based bank is negotiating with the Federal Reserve and may need less capital if it is able to...

Money manager at top of Madoff speed dial is sued

May 1, 2009 6:20 pm | by TOM HAYS - Associated Press Writer - Associated Press | News | Comments

NEW YORK (AP) — As the first speed dial entry at Bernard Madoff's investment firm, longtime money manager and close friend Stanley Chais must have known about the disgraced financier's multibillion-dollar Ponzi scheme, a complaint filed in Bankruptcy Court claims.But Chais has insisted he was a...

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