Morning Roundup: Return of the Golden Parachute

wallstreet29 42 Morning Roundup: Return of the Golden Parachute

  • According to one powerful shareholder group, Wall Street firms still tie executive pay too closely with the pursuit of short-term profit and fail to penalize executives for thoroughly gumming up their companies. In fact, this situation has only gotten worse since 2007, which wasn’t exactly a banner year for corporate responsibility. [WSJ]
  • The Justice Minister of Ireland is accusing the European Central Bank of trying to force his country to take a bailout. He also believes the ECB is now putting the screws to Portugal. [Bloomberg]
  • In October, increasingly combatitive and off-kilter former car czar Steven Rattner dramatically refused to pay $20 million to Attorney General Andrew Cuomo. The Attorney General’s office has since responded by seeking $26 million against Rattner in a big pension-kickback investigation. [NYT]
  • The trial of Sergey Aleynikov, who stands accused of stealing a high-speed trading program from Goldman Sachs, begins today. [Reuters]
  • General Motors still owes Americans $2.1 billion in preferred shares, plus the common-stock stake it’s been offloading to private investors. [TheStreet]

mtaylor [at] observer.com | @mbrookstaylor