Posted by Dale Buss on February 12, 2013 09:07 PM
As news broke on Tuesday afternoon that the authorities had begun closing in on suspected gunman Christopher Dorner, who has for days been the subject of an intense manhunt, the Los Angeles Times found itself hosting a collision of art and reality on the front page of its website.
For a time, the newspaper's coverage was wrapped inside a dominant ad for the TNT police drama "Southland," with images (above) of actor-officers with their guns drawn. Several minutes after the news began unfolding, The Times took the ad down (below).
The Times explained to brandchannel through a spokesman: "Given the heightened interest and anxiety around this breaking news, The Times and TNT determined that it would be in the best interest of our readers and Southland viewers to temporarily take the ad off the latimes.com homepage."Continue reading...
Posted by Shirley Brady on November 15, 2012 10:07 AM
The Associated Press is reporting that "BP has agreed to pay the largest criminal penalty in U.S. history, totaling billions of dollars, for the April 2010 oil spill in the Gulf of Mexico" that killed 11 workers in 2010. Bloomberg also reports: "The company will plead guilty to obstruction of justice for lying to Congress. Two of the company’s employees face manslaughter charges over deaths in the explosion of the oil well, said the person, who requested anonymity to discuss the deal which has not been made public. The amount wasn’t disclosed." The BBC is putting the figure at between $3 billion and $5 billion, and hears that up to four BP staff may be arrested.
Update: The settlement for the DOJ's Deepwater Horizon oil spill fraud case levies $4.5 billion in penalties against the company, including $1.26 billion for 14 criminal charges, and eliminates any further criminal and Securities and Exchange Commission (but not civil) charges against the company. As part of the deal, BP "has agreed to plead guilty to 11 felony counts of Misconduct or Neglect of Ships Officers relating to the loss of 11 lives; one misdemeanor count under the Clean Water Act; one misdemeanor count under the Migratory Bird Treaty Act; and one felony count of obstruction of Congress." It's also agreeing to pay $525 million in civil penalties through 2015 to settle claims by the SEC over the company's reporting on the oil flow rate into the Gulf of Mexico in the days following the accident. The deal is still subject to US federal court approval.
The Justice Department press release confirms that BP's two highest-ranking supervisors are being charged with manslaughter while a former senior executive is being charged with obstruction of Congress:Continue reading...
Posted by Shirley Brady on January 22, 2012 10:22 PM
Canada's Research in Motion has ousted its troublesome co-CEO arrangement by promoting Thorstein Heins — the former Siemens executive who joined RIM in 2007 as COO — to president and CEO.
The company released a video, above, to introduce the new CEO, and announced the news on Twitter with a hashtag: #bebold. He replaces co-CEOs Mike Lacaridis and Jim Basile, who will remain on the board.
Bloomberg sees it as RIM's answer to Apple and Google's inroads in mobile; the Wall Street Journal refers to Heins as a "little-known company insider."Continue reading...
Posted by Shirley Brady on January 18, 2012 11:55 PM
The CES announcements, the patent lawsuits against Apple, HTC, Samsung and Fujifilm, the restructuring of its business operations, have all been a precursor to this: as expected, Eastman Kodak and its U.S. subsidiaries have filed for Chapter 11 bankruptcy protection.
"After considering the advantages of chapter 11 at this time, the Board of Directors and the entire senior management team unanimously believe that this is a necessary step and the right thing to do for the future of Kodak," Kodak chairman and CEO Antonio Perez stated. "Our goal is to maximize value for stakeholders, including our employees, retirees, creditors, and pension trustees. We are also committed to working with our valued customers.
"Chapter 11 gives us the best opportunities to maximize the value in two critical parts of our technology portfolio: our digital capture patents, which are essential for a wide range of mobile and other consumer electronic devices that capture digital images and have generated over $3 billion of licensing revenues since 2003; and our breakthrough printing and deposition technologies, which give Kodak a competitive advantage in our growing digital businesses."
Kodak's restructuring website reassures consumers that it will be business as usual during the reorganization process, for which it has secured $950 million from Citigroup to maintain operations. The 131-year-old film pioneer, founded in 1880 by George Eastman, expects to complete its U.S. restructuring in 2013, while legal challenges loom over pensions in the U.K. Read the full press release below.Continue reading...
Posted by Shirley Brady on January 9, 2011 10:00 PM
The two-hour season finale of Sarah Palin's Alaska on Discovery-owned TLC — the reality series' final bow, as it's apparently not being renewed — unfolded on-air tonight as the former governor of Alaska and US vice-presidential candidate refudiated charges that her rhetoric was in any way responsible for the shooting of Arizona congresswoman Gabrielle Giffords and 17 others on Saturday morning at a Safeway store in Tucson. Palin expressed her condolences to Giffords and the other victims of the shooting on her Facebook page. Walmart was also caught in the tragedy, as one of its stores reportedly sold gunman Jared Lee Loughner the ammunition for the massacre.
Posted by Shirley Brady on August 8, 2010 10:00 AM
AP picks up on WSJ's report that ousted HP CEO Mark Hurd has (personally) settled with the marketing contractor who accused him of sexual harassment for an undisclosed sum. The sudden removal of Hurd as head of the world's largest technology company sent HP's stock plummeting a stunning $10 billion on Friday. He walks away with millions in severance as HP's board scrambles to fill his role.
Posted by Shirley Brady on August 6, 2010 04:31 PM
HP stunned Wall Street today with the announcement that CEO Mark Hurd is resigning in the wake of a sexual harassment investigation.
In a call with reporters, HP executives said Hurd, BusinessWeek's Businessperson of the Year in 2007, falsified expense reports to cover up meetings with an unidentified woman, a former contractor in HP's marketing department.
CFO Cathie Lesjak is taking over Hurd's role on an interim basis but has told the board she has no interest in the job on a permanent basis.
Last month, Hurd received Phi Delta Theta's Nance-Millett Award, an honor bestowed on fraternity alumni "who have contributed greatly to the free enterprise system."
Hurd, who served as president of the fraternity while attending Baylor, a Christian university in Waco, Texas, said in his acceptance speech (above) that the fraternity taught him "the power of loyalty and integrity."Continue reading...
Posted by Shirley Brady on July 15, 2010 04:00 PM
The Associated Press reports that BP officials are saying that oil from its damaged well in the Gulf of Mexico has stopped gushing for the first time since April.
"It is good to see no oil going into the Gulf of Mexico," BP SVP Kent Wells also tells AFP, but adds: "We are just starting the test." BP began testing the "integrity" of the cap on its blown-out well following two days of delays.
Ken Feinberg, the manager of a $20 billion fund that BP created to pay for losses caused by the spill, said today to officials in Louisiana that payments will start in early August.
The oil giant also announced it's acquiring Verenium's biofuels business, a move that will give Verenium the "rights to access select biofuels technology developed by BP using the technology."