RJR Nabisco News
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As Wal-Mart Stores Inc. prepares to anoint the fifth chief executive in its history, the world’s largest retailer is grappling with challenges founder Sam Walton never faced.
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Wal-Mart Stores Inc.’s board, as it prepares for new leadership at the company, has identified two internal candidates to succeed Chief Executive Officer Mike Duke, according to a person familiar with the situation.
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Citigroup Inc. shareholders, who rejected the bank’s 2011 compensation plan, voted in favor of the latest round of payouts after the lender said it overhauled rewards for top executives.
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Calvert Crary, a Wall Street lawyer who crafted a business out of providing investors an edge by predicting the outcome of corporate court battles, has died. He was 69.
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Sterne Agee Group Inc. is in talks to combine with Gleacher & Co., the investment bank that’s lost $180.4 million since 2009, people familiar with the matter said.
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Robert Schaeberle, who led Nabisco Inc., one of America’s leading snack makers, into the 1981 merger with Standard Brands Inc. that set the stage for the defining battle of the leveraged-buyout era, has died. He was 88.
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As Thomas Hughes prepared to run Gleacher & Co. in 2011, he vowed to cut costs and transform the brokerage into a “substantial force.” Now the stock is down 66 percent as he grapples with losses and worker defections.
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Ten thousand bucks.
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Ted Forstmann, the Wall Street dealmaker who sounded the alarm in the 1980s when junk bonds reshaped the leveraged-buyout industry he had helped create, has died. He was 71.
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Banks including Citigroup Inc., JPMorgan Chase & Co. and Bank of America Corp. have grown too large, according to Peter Cohen, chief executive officer of Cowen Group Inc.
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