Verizon’s Strigl promoted to president, COO
Published 9:00 pm Tuesday, December 19, 2006
Telecommunications company Verizon Communications Inc. on Tuesday named Verizon Wireless executive Denny Strigl as president and chief operating officer of the parent company. Effective Jan. 1, he succeeds Lawrence T. Babbio, who is retiring as president.
Former airline chief named Dell CFO
Former American Airlines chief Don Carty was named Tuesday as Dell Inc.’s vice chairman and chief financial officer. Carty has been a member of Dell’s board of directors since 1992. He will assume his new duties Jan. 1.
Cascade Natural renews dividend
The board of directors of Cascade Natural Gas Corp. declared a 24-cent-per-share quarterly stock dividend, payable in cash on Feb. 15 to stockholders of record on Jan. 31.
Bigger bonuses hit Wall Street
Bonuses on Wall Street should amount to $23.9 billion this year, shattering last year’s record by 17 percent. The most jaw-dropping bonuses are being doled out by Goldman Sachs Group Inc., the world’s largest investment bank. The upper echelon of Goldman Sachs – called the “golden 25” – could get at least $25 million each.
U.S. wants shift in China’s money rules
The Bush administration said Tuesday that China does not meet the technical requirements of a country that is manipulating its currency to gain unfair trade advantages. The administration did say Tuesday that “more flexibility in China’s exchange rate will help it achieve more balanced growth” and promote a number of other outcomes that would be economically beneficial.
Competition saps Palm profits
Faced with tough new competition, Palm Inc. reported Tuesday a sharp drop in its fiscal second-quarter profits and revenues but exceeded Wall Street’s lowered expectations. The maker of Treo smartphones said it earned $12.8 million, or 12 cents per share, in the quarter ended Dec. 1. That compared with $260.9 million, or $2.51 per share, in the year-ago period, which included a tax-related gain of $226.3 million. Excluding stock-based compensation and one-time items, Palm said it would have earned $17.6 million, or 17 cents per share.
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