Health Insurer Aetna Raises Wages for 5700 Workers To $16 an Hour
Aetna became the latest corporation to announce a voluntary minimum wage hike. 5700 workers received checks last week reflecting the new salary of $16/hour.
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Facebook Riches for Artist Who Painted Headquarters
The graffiti artist who took Facebook stock instead of cash for painting the walls of the social network's first headquarters made a smart bet. The shares owned by the artist, David Choe, are expected to be worth upward of $200 million when Facebook stock trades publicly later this year.
Eight Reasons for Financial Optimism in 2012
Throughout all the turmoil for the US economy in 2011, U.S. stocks have been surprisingly resilient. "We believe this is a testament to a combination of U.S. economic resilience, U.S. corporate financial strength and pricing power, and severe relative undervaluation of equities," said Thomas Lee, chief U.S. equity strategist with JPMorgan. Lee has compiled eight reasons why he will remain optimistic in 2012
Bank of America Drops Plan for Debit Card Fee, Other Big Banks Say No
In the biggest victory for consumers since Netflix's recent mea culpa, Bank of America said today that it was abandoning its plan to charge customers a $5 fee every time they use their debit cards. The bank relented, but only after other large banks had indicated that they would not impose similar fees.
US 'Green Economy' Now in Forefront
Saving energy has evolved from a moral calling to a financial imperative for businesses that have broadened the concept of energy efficiency to one of sustainability.
Stock Buying by Corporate Insiders Almost Tripled in Feb
Two good news stories in the financial sector caught our eye this week: Hefty stock purchases by company officers and directors is growing evidence that insiders believe their companies have the worst of the recession behind them and their stocks should rise this year, analysts said last week.
Apple CEO Turns Down Pay
Apple CEO Tim Cook is turning down a payout worth approximately $75 million. Cook is requesting that he not receive new stock dividends, after receiving just shy of $400 million in compensation last year. One writer chalks it up to classiness.
Dow Hits Five-year High on Jobs Report
The Dow Jones industrials index climbed to its highest level in nearly 5 years on Friday, after a surprise drop in the unemployment rate pointed to continued improvement in the labor market. The S&P 500 rose for a fifth straight day and was also on course to close near a 5-year high.
Billions Earned for US Treasury From AIG TARP Repayment
The controversial government bailout of the huge global insurer, AIG, during the worst days of the financial crisis in 2008, will yield billions of profit for the US treasury and taxpayer. The treasury department announced Tuesday that it will sell 234 million shares in American International Group (AIG), bringing the estimated profit on the original AIG TARP assistance to $22.7 billion.
Barclays Boss: Sign on to New Ethics or Leave
Barclays boss Antony Jenkins has notified the bank's 140,000 employees of a new code of conduct. Even bonuses for 2012 will be assessed against the new Purpose and Values criteria.
Great Jobs: One-man Bank Keeps German Village Humming
By big city standards, Peter Breiter, 41, is an unusual banker. He left a bigger bank, where it was all sell, sell, sell, to settle in the tiny southern German village of Gammesfeld and write transaction slips by hand for its 500 inhabitants.
GM Announces Investment of $67 Million in US Car Plants in Ohio, Kansas
General Motors says it will spend $47 million at a factory in Defiance, Ohio, so it can build more parts that go into the company's small four-cylinder engine and its Chevrolet Volt electric car. Additionally, GM will invest $20 million in machinery and equipment at its assembly plant in Kansas City, Kansas, part of a plan to invest $2 billion in 17 U.S. plants.
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