Opening today’s House Financial Services Committee hearing on AIG, Chairman Barney Frank (D-Mass) makes a strong case for suing all those executives who got their multi-million dollar bonuses despite their high-risk incompetence that ultimately led the company down the toilet.
Reading from the contracts — which still appear not to More…
The federal government’s answer to the furor over AIG’s payments of ridiculous multi-million dollar bonuses to the same executives who helped drive the company into the ground seems to be “we can’t break a contract.”
But what about what the executives promised to do under those employment contracts? Surely those More…
Since President Bush wants to go out on a “so what” note — he’s really making me regret panning that Oliver Stone movie — let’s make today an official Shoe Throwing Day here at The Streak. On Saturday, ProPublica and The New York Times previewed a forthcoming More…
Budget cuts in the 1990s forced the Pentagon’s skilled contracting workforce to shrink by more than half. When defense budgets doubled in the wake of the Sept. 11 attacks, this workforce was overwhelmed. So the Pentagon handed the responsibility for overseeing lucrative weapons programs to industry teams called “Lead Systems More…
At 12:01 a.m. Pacific time Saturday, 27,000 Boeing Co. machinists, protesting a lack of job security, went on strike. A lengthy walkout would halt the assembly of several pricey Boeing planes, including its 777.
The aeronautic giant’s 777 is supposed to have enough fuel capacity to win the Air Force’s More…
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