The U.S. government had no information about the General Motors Co. ignition-switch defect that’s been linked to 13 deaths, members of the team that oversaw the automaker’s restructuring said yesterday.
Activist investor Daniel Loeb gained an important ally in his fight with Sotheby’s after a shareholder advisory firm backed his proposal for investors to vote for two of his three nominees to the auction house’s board.
The biggest gun-control fight next year is shaping up as dueling ballot initiatives in the state of Washington, a continent away from the Connecticut elementary school where a mass shooting ignited a national push for tougher firearms laws.
Daniel Loeb, whose Third Point LLC is increasing pressure on Sotheby’s by proposing three directors to the board, said he’s willing to work with Chief Executive Officer William Ruprecht and senior management.
Yahoo! Inc. said Chief Executive Officer Scott Thompson stepped down after failing to correct errors in his credentials and the company is revamping its board, handing a victory to activist investor Daniel Loeb, who pushed for the overhaul and said the Web portal is mismanaged.
U.S. taxpayers and auto workers would have fared worse if President Barack Obama’s auto bailout hadn’t improved pensions of some Delphi Automotive Plc union retirees while cutting those of salaried workers, former members of the bailout task force said.