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...latest move to rebuild its reputation, Goldman will reportedly require its executives and top managers to donate a portion of their bonuses to charity. Goldman already has a program to promote voluntary giving by the firm's partners, which was started two years ago. The new program would expand the program to more of the firm's employees, and set a mandatory floor for charitable giving. While it's rare for a company to force its employees to donate, lawyers say it is perfectly legal. Bear Stearns, which was swallowed by JPMorgan Chase at the beginning of the financial crisis...
What's more, Goldman executives are already big donors, and that hasn't done anything to stop its slide in public opinion. Under the firm's voluntary-giving plan, which was started just before the firm handed out bonuses two years ago, Goldman's top executives gave about $130 million to charity in 2008. Goldman's own foundation, which it funds with corporate profits, has about $200 million in it, making it one of the largest charity trusts in corporate America. Indeed, a plan announced a few months ago by Goldman to give away $500 million to promote loans...
...interview lasted 48 minutes, and throughout, Lewis dodged questions from callers and Nicholson about his connection to the seven murders nearly 30 years ago...
...India is a country just entering the age of motorization, where still only 1% of the 1 billion-plus population owns a car. Although India trails the world's largest emerging car market - China - its sheer size gives it untapped potential that carmakers can't ignore. A decade ago, Mercedes-Benz was the only luxury-car brand in India. In 2006, BMW opened up shop, and it was soon joined by Audi. Though high-end business still only constitutes 0.5% of the overall Indian car market, the brands are already selling more cars than in smaller countries like Malaysia...
...Tapping into India's car market has always been a challenge for foreign automakers. Despite India's blistering economy, manufacturers have discovered a historic preference for cars that are small, fuel-efficient and cheap. The sensation that is the Nano is well-known; its unveiling two years ago at the New Delhi Auto Expo by Indian automaker Tata captured the world's imagination and further focused attention on India's growing role in the global car market. To be successful in India, small-car manufacturers have had to tailor their product to Indian tastes and conditions. When General Motors launched...