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Fox News CEO Rules Out Presidential Bid in 2012

'I can't take the pay cut,' Roger Ailes jokes

(Newser) - Roger Ailes won’t run for president in 2012, despite appeals from friends and associates. The Fox News CEO says he thinks he’ll serve the nation better in his current role: “This country needs fair and balanced news more now than ever before, so I’m going to...

Bailed-Out Banks Boost CEO Perks

From private jets to bodyguards, they just keep taking

(Newser) - The CEOs of bailed-out banks and financial companies saw their perks and benefits—ranging from private jet use and country club membership to free parking and bodyguards—rise even at the height of the crisis last year. On average, the CEOs of the 29 biggest companies that received federal money...

Pay Czar Blocks Salary for Ken Lewis

BofA CEO will return $1M and forgo any pay this year

(Newser) - President Obama's pay czar has landed his biggest punch yet: Bank of America CEO Ken Lewis will forgo any pay this year and return $1 million he's already accepted. But don't start up a collection just yet: The reason Kenneth Feinberg made the request is because Lewis will receive about...

US Olympics Chief Will Step Down
US Olympics Chief Will
Step Down
Oct 7, 2009 12:15 PM CDT

US Olympics Chief Will Step Down

Streeter's decision follows Chicago bid, no-confidence vote

(Newser) - With the sting of Chicago's loss still fresh, the acting chief of the US Olympic Committee has decided to step down before being pushed out. Stephanie Streeter said today she will not seek the job on a permanent basis and will leave by March. The decision comes five days after...

Bank of America's Lewis to Resign at End of Year

(Newser) - Ken Lewis, the embattled CEO of Bank of America, is leaving the company, succumbing to nearly a year of strife that followed his company's acquisition of Merrill Lynch. The bank said in a statement that Lewis, 62, would retire as CEO and also leave the company's board by the end...

Meg Whitman Tests Media's Celeb-CEO Myth
Meg Whitman Tests Media's
Celeb-CEO Myth
Analysis
Sep 28, 2009 3:09 PM CDT

Meg Whitman Tests Media's Celeb-CEO Myth

Calif. voters to decide if ex-eBay honcho was really a rock star

(Newser) - For years Meg Whitman has benefited from the sycophantic business media’s lionization of the CEO. Throughout the boom years, “CEOs were pretty much automatically rock stars,” writes Simon Dumenco for Advertising Age. “If they banked a billion or more, the thinking went, they must have been...

US Bankers' Pay Is World's Highest—by Far

(Newser) - US bank CEOs are paid drastically more than their counterparts around the world. The CEO of Commercial Bank of China, the largest bank in the world, brings home just $234,700 a year—or roughly 2% of JP Morgan boss Jamie Dimon’s $19.6 million haul. The US has...

Drug Dealers: Experts in Recessionary Business
Drug Dealers: Experts in Recessionary Business
book review
Sep 21, 2009 5:26 PM CDT

Drug Dealers: Experts in Recessionary Business

CEOs could learn a lot from hustlers

(Newser) - 50 Cent is the first rapper to pen a book of management advice. It’s a shame, then, that The 50th Law, co-written by Robert Greene, boils down to the worst kind of “be authentic” self-help boilerplate, writes Lucy Lucy Kellaway for the Financial Times. As a former drug...

Cost-Cutting Companies Target No. 2 Execs

Corporations eliminate second-in-command roles to save on costs

(Newser) - Cost-cutting at American's largest corporations is hitting the executive suite, with CEOs rolling up their sleeves to take on more day-to-day responsibilities and laying off their No. 2s. In the 18 months leading up to June 2009, 40 major companies eliminated COOs or presidents, the Wall Street Journal notes, while...

Mack Steps Down as Morgan Stanley CEO

Ends tumultuous 4 years, including bank's near collapse

(Newser) - John Mack is stepping down after 4 years as CEO of Morgan Stanley, the bank that nearly succumbed at the height of the financial crisis. Morgan Stanley has seen its reputation suffer in recent years after ill-advised moves into real-estate-backed assets that cost the bank billions, raising questions about Mack's...

Fuld: 'I Was Whipping Boy' for Lehman Failure

Lehman's last CEO steels himself for anniversary of firm's collapse

(Newser) - Former Lehman CEO Richard Fuld is ready to get dumped on again as the anniversary of the company's collapse nears, he told a Reuters reporter. Fuld was widely blamed for leading Lehman into the biggest bankruptcy in US history, although former execs are still bitter that rivals Bear Stearns, Merrill...

Back at Work, Jobs Zeroes In on New Apple 'Tablet'

Liver transplant has not diminished CEO's attention to detail

(Newser) - Just months after a liver transplant, Steve Jobs is back at Apple focusing his powerful micro-managerial style on development of a new tablet computer, the Wall Street Journal reports. Jobs’ close involvement with the tablet device signals that it will likely be a major product for Apple. During the development...

New AIG CEO's Salary: $7M
 New AIG CEO's Salary: $7M 
Aug 18, 2009 10:05 AM CDT

New AIG CEO's Salary: $7M

Figure makes a mockery of government's 'populist image': blogger

(Newser) - The new CEO of AIG is bringing home $7 million a year to restore the bailed-out firm to health, Bloomberg reports. Robert Benmosche will receive $3 million in cash and $4 million in common stock, a regulatory filing notes. “The cash component had to be enough to attract a...

White House Invites CEOs for Lunch—Then Bills Them

(Newser) - Four top CEOs who sat down to lunch with President Obama at the White House have an unusual memento: the bill for their meals. White House staffers collected the credit card numbers of the executives from Coke, Xerox, AT&T, and Honeywell so they could pay up afterward, Politico reports....

Dimon: DC's New Favorite Banker

JPMorgan CEO ingratiates himself with Washington

(Newser) - As the nation's financial center shifted from Wall Street to Pennsylvania Avenue, one man managed both to keep his bank afloat and emerge from a toppled industry with credibility in the White House. In a lengthy profile of Jamie Dimon, the New York Times takes a look at the JPMorgan...

GM's Wagoner to Get $8.2M, Plus $75K Annual Pension

(Newser) - Now he can fly on all the private planes he wants: Former General Motors CEO Rick Wagoner will collect an $8.2 million payout package, plus a $74,000 annual pension, reports the Detroit Free Press. If he chooses, the 56-year-old Wagoner also can cash out a company life insurance...

Apple: Jobs Is Back, Part-Time

(Newser) - Apple co-founder and CEO Steve Jobs is back at work after a five-and-a-half-month medical leave, during which he received a liver transplant. Jobs, 54, is working from Apple's Cupertino, Calif., headquarters "a few days a week" and working from home the remaining days, an Apple spokesman said today.

Jobs' Stand-In Is Apple's New Star
Jobs' Stand-In
Is Apple's
New Star
Jun 23, 2009 9:12 AM CDT

Jobs' Stand-In Is Apple's New Star

Tim Cook may now be a more important player than his returning boss

(Newser) - Steve Jobs is slated to return to Apple this month—he’s already been sighted at the office—but in his absence Tim Cook has made a name for himself, becoming a vital commodity Apple needs to keep, the Wall Street Journal reports. “At this point, losing Tim Cook...

Bailed-Out Bank Execs Fly Corporate Jets to Resorts

Citi, BoA, Morgan Stanley CEOs jetted off after cash infusions

(Newser) - Executives at bailed-out banks are still using company jets to fly to vacation homes and resorts, the Wall Street Journal reports. The newspaper reviewed FAA records to find that banks receiving federal aid have flown top execs to locales such as the Caribbean, Aspen, and Europe. Case in point: Less...

Ex-Apple Exec Takes Over at Palm
Ex-Apple Exec Takes Over
at Palm
Jun 10, 2009 6:30 PM CDT

Ex-Apple Exec Takes Over at Palm

Rubinstein will be new CEO as company goes after iPhone

(Newser) - Palm shuffled its top leadership today as it continues to zero in on Apple and the iPhone. Jon Rubinstein, who led Apple's iPod division before jumping to Palm in 2007, will take over as CEO and chairman from Ed Colligan, who is resigning after 16 years. "Colligan's departure means...

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