Berkshire Hathaway Inc . Chairman Warren Buffett dismissed the importance of government stress tests in helping him assess banks, and said Wells Fargo & Co.
Markets opened mixed Friday as Chrysler prepared to suspend production at most of its factories after filing for Chapter 11 bankruptcy protection in the U.S. Thursday.
Six of the 10 best-paid CEOs in 2007 in The Associated Press survey of Standard & Poor's 500 companies made less money last year. Two left their posts altogether. One saw their compensation rise. Here's a rundown of how they fared. CEOs are listed with the companies they headed in 2007.
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1. Larry Ellison, Oracle Corp.
_ 2008 (fiscal year) pay: $84.6 million.
_ Status: Still CEO.
The software magnate's fiscal 2008 pay included $71 million in stock and options, a $10.7 million cash performance bonus and $1.4 million worth of personal security. Oracle hasn't yet reported his pay for its latest 2009 fiscal year, which ends in May.
U.S. stocks keep proving the naysayers wrong, as major averages continue to gain despite expectations for the recent rally's demise.
CATSKILL A man convicted of murder Friday wrestled with court officers after the guilty verdict was read.
Billionaire Warren Buffett said Saturday the U.S. government is generally taking the right actions to help the economy recover, and it should be given some benefit of the doubt because officials have been reacting in the middle of a crisis.
Sovereign Bank officials say they will cut 950 jobs, or almost 9 percent of its work force, as part of cost-saving measures in response to the economic downturn.
U.S. manufacturing activity in April posted its best showing since September, when the financial crisis erupted.
FOLLOW THE MONEY: » Web site promises to keep track of how stimulus is being spent » Chevron 1Q profit plunges 64% » MasterCard 1Q profit falls 18%, beats estimate » Fusion helps Ford grab bigger part of market » Factory orders drop 0.9% in March » Transportation secretary hints at airline aid » Investors see bright ...
With stocks basking in the aftermath of the best two-month blue-chip run in seven years, investors cheered by corporate results looked ahead Friday to bank-stress-test results next week and economic data.
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