Citi Boosts Base Salaries Of Some Senior Employees (Reuters)
CFO John Gerspach's annual base salary will increase to $500,000 effective November 1 from $400,000 prior to November, while James Forese is receiving $475,000, compared with $225,000. Gerspach is also receiving $2.92 million of stock salary for 2009, while Forese will get $5.4 million. And a sad trombone for Vikram, who will make $1 for the year, with no stock salary.
Blankfein Apologizes for Goldman Sachs Role in Crisis (Bloomberg)
In case you missed it, Blankfein and Co. are kinda sorry about some stuff they got peer-pressured into going along with. Also, fuck the haters: The firm is "very concerned" about the criticism because "our reputation is very important to us," said Blankfein. "I don't love it, we kind of sigh," he said of the criticism. Instead of responding directly to critics, the company instead had tried provide "the kind of constructive suggestions that people would think a Goldman Sachs would be able to come up with."
Fearing IRS, 14,700 Disclose Disclosed Offshore Accounts (NYT)
Great news for Tim Geithner: "We are talking about billions of dollars coming into the U.S. Treasury," Douglas H. Shulman, the I.R.S. commissioner, said Tuesday.
GMAC's Michael Carpenter To Executives: Stay! (WSJ)
Don't ever leave him ('cause he'll find you): " Michael A. Carpenter, the new chief executive of GMAC Financial Services, launched a charm offensive to hold onto executives lured to the giant auto lender by ousted predecessor Alvaro de Molina. The 62-year-old Mr. Carpenter spent part of Tuesday in one-on-one conversations with Mr. de Molina's former lieutenants, said a person familiar with his thinking. Mr. Carpenter is concerned about potential defections from the top ranks, remade by Mr. de Molina during his 19 months as chief executive."
Trump Settles For 10% Of Casino Company (AP)
Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino and Trump Marina Hotel Casino will retain the Don's name though, which is what's important.
At Hearing, Questions About BofA C.E.O. Candidate (NYT)
Rep. Elijah Cummings would appreciate it if the BAC board would let him know who he should be calling a chump, ASAP: Mr. Cummings pushed Bank of America director Charles Gifford on whether Brian Moynihan is a serious candidate for Bank of America's top job. "Is this the guy we have got to face when we are dealing with Bank of America?" Mr. Cummings asked. "I am not asking you for your decision. I am just asking if he is one of your top candidates."