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...think it would be very bad for publishers and authors and the digitization of information going forward if the settlement is not accepted, even if it has to be adjusted in some way, shape or form," says Carolyn Reidy, chief executive of Simon & Schuster, who was a party to the agreement...
...Although the outcome of the case will likely hinge on interpretations of legal agreements signed years ago, Greenberg's credibility was on trial on June 16, when the former AIG chief executive took the stand. AIG's lead attorney, Ted Wells, said that Greenberg and other members of Starr's board of directors had broken an agreement not to sell their AIG shares. (Read "How AIG Became Too Big to Fail...
...most heated part of the testimony came when Wells asked Greenberg whether losing his job justified breaking that oath, implying that he had done so as revenge for his dismissal from AIG after serving as its chief executive for 38 years. "The fact that you lost your job was a big enough act to cause you to breach your fiduciary responsibility?" asked Wells...
...recently asked its 40,000 employees to consider laboring for nothing for up to one month. "Colleagues are being urged to help the airline's cash-saving drive by signing up for unpaid leave or unpaid work," read an article in BA News, the carrier's in-house newspaper. Chief executive Willie Walsh, who has pledged to forgo his $100,000 monthly salary in July, said the airline was caught in a "fight for survival...
...from Australia, Canada, China, Britain and the U.S., which together control 80% of the world's public health-research funding, announced today the formation of the Global Alliance for Chronic Diseases (GACD). "Our focus is on reducing the burden of chronic diseases in developing countries," says Leszek Borysiewicz, the chief executive of the U.K. Medical Research Council. "It's critically important to make these interventions now." (Read how health workers are helping fight killer diseases in the developing world...