Executives | featured news

Bailed-out banks take notice after Obama adopts hard line with Detroit, forces GM CEO to resign.

Fred Goodwin, the former chief executive of ailing Royal Bank of Scotland, was criticized for keeping his $1 million pension despite a string of ill-timed acquisitions under his reign.

A top executive at troubled insurer AIG publicly resigns and says he will donate his entire bonus to charity.

Executives say legislation to severely tax bonuses may imperil the housing recovery program.

The House of Representatives is expected to vote Thursday on legislation to try to recoup bonuses paid to Wall Street executives with taxpayer money.

It is a rather curious spectacle to see congressional Republicans express outrage at the exorbitant bonuses being handed out by bailed-out companies and blame the Obama administration for failing to curb the practice with AIG.

The chief executive officer of failed insurance conglomerate AIG acknowledged Wednesday that the company's multimillion-dollar bonuses were "distasteful" to many and had provoked a firestorm of wrath.

Police have located three missing executives from a car dealership where 81 new vehicles worth roughly $2.5 million vanished, and at least one of the three has been arrested.

Scores of new cars vanished from a western Nebraska car dealership and a prosecutor said Wednesday that some had turned up in other states and warrants had been issued for three missing executives. The 81 Fords and Toyotas taken from Legacy Auto Sales in Scottsbluff were valued at about $2.5 million.

The New York attorney general's office on Wednesday subpoenaed seven former Merrill Lynch & Co. executives as part of its ongoing investigation into the timing of year-end payments made to executives at the investment bank.