Wednesday, Dec 31st
Last update10:11:09 AM GMT
Wachovia Corp (NYSE:WB), which lost $33 billion in the last two quarters, said 10 top executives may be entitled to $98.1 million in severance pay after the bank is acquired by Wells Fargo & Co (NYSE:WFC).
Wachovia also said a closing would entitle its 11 executive officers, who include Steel, as well as Chairman Lanty Smith to $2.5 million in equity-based awards under existing stock incentive plans. But the executives' stock options are worthless, the bank said.
The authorities may lawfully conduct searches and electronic surveillance against United States citizens in foreign countries without a warrant, a federal appeals court panel said on Monday, bolstering the government’s power to investigate terrorism by ruling that a key constitutional protection afforded to Americans does not apply overseas.
TVNL Comment: Wow! Once outside the country, the US Constitution no longer protects Americans from their own government. The horror continues....
A report just published in the Journal of the American Medical Association's Archives of Internal Medicine reaches a startling conclusion. Breast cancer rates increased significantly in four Norwegian counties after women there began getting mammograms every two years. In fact, according to background information in the study, the start of screening mammography programs throughout Europe has been associated with increased incidence of breast cancer.
Millionaire farmers continue to pluck crop subsidies they don't deserve, federal investigators say.
At least 2,702 farmers nationwide received subsidies between 2003 and 2006 even through they were making more than the $2.5 million gross income cutoff. The unwarranted payments totaled $49 million and exposed enduring Agriculture Department management problems, investigators concluded.
This report likely won’t be on CNN’s “Headline News,” but after five years, former workers at CNN have finally gained justice. In a decision made public today, an administrative law judge ordered the network to rehire 110 workers who were fired because they were union members. CNN also was ordered to recognize the workers’ unions, National Association of Broadcast Employees and Technicians-CWA (NABET-CWA) locals 31 and 11.
On their second try, federal prosecutors won sweeping convictions Monday against five leaders of a Muslim charity in a retrial of the largest terrorism-financing case in the United States since the attacks of Sept. 11, 2001.
TVNL Comment: If there was an iota of justice in the US, anyone who contributed a single dime to anyone in the Bush killing machine would be convicted of aiding a terrorist group.
AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in sports team sponsorships, even as they take billions in taxpayer support, ABC News has found.
Struggling Citibank just sealed a multi-billion-dollar emergency "backstop" deal with the U.S. government. The financial behemoth, suffering with billions in bad mortgage-related assets on its books, recently shed 53,000 workers and saw its stock price lose over half its value. Yet it's in a 20-year contract to pay the New York Mets $400 million to name the team's new stadium "Citi Field."
TVNL Comment: So in essence you, the tax payer, subsidized the milti-million dollar baseball player, who PLAYS GAMES for a living! Not only that...they have made it so expensive to see games that many people can't afford to even go to a game anymore!
Some wealthy clients of UBS AG are coming forward to make amends with U.S. tax authorities after a former UBS private banker was indicted, a sign that U.S. efforts to battle offshore tax evasion are having the desired effect.
TVNL Comment: Hey, can the rest of get in on this? Can us ordinary folks avoid taxes and than ask for amnesty? Just asking.
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