Juror Flirting With John Edwards
Obama's Pot-Smoking Detailed
Embittered Facebook investors ponder next move
To say that Facebook's debut as a public company was bungled is something like saying Facebook is a website you might have heard of. Either way, a colossal understatement.
Spain's lender Bankia says it won't need more aid
MADRID (AP) — The president of troubled Bankia tried Saturday to calm fears about the future of the bank, saying Spain's second largest mortgage lender will emerge as a solid financial entity after it receives (EURO)19 billion ($23.8 billion) in state aid in the country's biggest ever bank bailout. Bankia and its parent group BFA are prepared to sell a large portfolio of real estate and a "significant package" of companies as part of its efforts to turn itself around, Jose Ignacio Goirigolzarri told reporters.
IMF chief Lagarde: Little sympathy for Greece
LONDON (AP) — International Monetary Fund chief Christine Lagarde says she has more sympathy for poor African children than Greeks suffering under the country's economic problems and austerity measures. Making clear that the IMF has no plans to relent on its austerity requirements for the country, Lagarde said she was aware that many Greeks were struggling to access services like healthcare because of the country's economic crisis, but believed people in other countries deserved more sympathy.
For something so simple, pasta is serious business
ROME (AP) — They twirled, they sniffed, they slurped, they chewed. The dozen housewives who gathered in a Rome hotel on a recent afternoon took their work terribly seriously, rating plates of pasta for chewiness, saltiness, gumminess or done-ness — that perfect balance known as "al dente," or firm to the bite.
Why that flat Facebook IPO isn't so bad after all
NEW YORK (AP) — The botched offering of Facebook stock has raised several troubling questions, but at least we don't have to worry about the one that plagues many IPOs: How are a few select investors able to buy in early at lower prices and then pocket huge profits when the trading frenzy begins? Among the many apparent missteps in its public debut, Facebook is accused of setting an opening price that was too high. Instead of spiking on the first day, shares inched up just 23 cents, to $38.23. The stock has mostly fallen since.
Cheaper gas spurs more travelers this Memorial Day
NEW YORK (AP) — More Americans will hit the road this holiday weekend than a year ago. And they'll have a bit more money to spend thanks to lower gas prices. Memorial Day kicks off the summer travel season, and since pump prices never reached $4 or $5 a gallon, as feared, economists says travelers are likely to dine out or shop more once they pull off the road.
Typical CEO made $9.6M last year, AP study finds
NEW YORK (AP) — Profits at big U.S. companies broke records last year, and so did pay for CEOs. The head of a typical public company made $9.6 million in 2011, according to an analysis by The Associated Press using data from Equilar, an executive pay research firm.
Austrian finance minister: No to eurobonds
VIENNA (AP) — Austria's finance minister is rejecting the idea of introducing jointly issued eurobonds any time soon and says that running up new debts to finance growth is "nonsense." New French President Francois Hollande has revived talk of eurobonds, which could reduce troubled countries' borrowing costs. But Germany and others whose borrowing costs could increase are opposed.
On top of big salaries, companies pile on perks
In the small world of big CEOs, the perks can be spectacular. Drivers, country club memberships, use of company aircraft — those splashy extras are fairly routine. And so are less-splashy extras, with companies often shouldering the cost for the boss' personal financial planning or annual physical.
Top CEO pay equals 3,489 years for typical worker
WASHINGTON (AP) — David Simon of Simon Property received a pay package worth more than $137 million for last year, and the typical CEO took home $9.6 million, according to an analysis by The Associated Press. Here are some ways to think about just how much money those salaries represent.
