Charles and David Koch, the billionaire brothers who run Wichita, Kansas-based Koch Industries Inc., added $1.3 billion to their collective fortune yesterday on reports that U.S. industrial production gained more than forecast. The surge elevated their net worth to more than $100 billion, according to the Bloomberg Billionaires Index.
Brian T. Moynihan, who has compared cleaning up Bank of America Corp.’s mortgage mess to lugging a backpack up a mountain, today posted his fourth quarterly loss since he became chief executive officer.
For about two years, General Motors Co. engineer Brian Stouffer tried to figure out why faulty ignition switches now linked to at least 13 deaths were causing cars to stall. His quest was thwarted by uncooperative colleagues, inaccurate data and a rotating cast of managers.
President Barack Obama thanked Kathleen Sebelius for helping pass the 2010 health-care law and named Sylvia Mathews Burwell his new health secretary, calling her “a proven manager” who knows how “to deliver results.”
Bloomberg BNA — Senior Environmental Protection Agency officials consulted with at least 210 separate groups representing a broad range of interests in the Washington, D.C., area and held more than 100 meetings and events with additional organizations across regional offices as the agency prepared its carbon pollution regulation for existing power plants.