July 29, 2010

Finance bill brings vast changes

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Now that financial regulatory reform has been signed into law, business lobbyists have turned their attention to the regulators who will implement the 2,300-page bill.

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Citibank issues Zale third termination notice

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Zale Corp. must cough up yet a little more money if it wants to avoid seeing its private-label credit card program end early next year, Zale\’s latest Securities and Exchange Commission filing shows.

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Winnebago Adopts Exec Incentive Plans

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The board of Winnebago Industries Inc., Forest City, Iowa, on June 22 approved certain short-term and long-term incentive plans for its top managers.

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Ford to sell $1.08 billion of loan bonds

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Ford plans to sell $1.08 billion of bonds tied to auto loans after the U.S. Securities and Exchange Commission created a six-month window for companies to offer asset-backed debt without including ratings in marketing documents.

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GE to pay $23 million to settle SEC charges over oil-for-food kickbacks in Iraq

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General Electric Co. will pay $23.4 million to settle federal charges that some of its subsidiaries paid illegal kickbacks to the government of Saddam Hussein in order to win contracts under a U.N. program.

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SEC charges GE in Iraq kickback scheme

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The Securities and Exchange Commission today charged General Electric Company with violations of the Foreign Corrupt Practices Act for its involvement in a $3.6 million kickback scheme with Iraqi government agencies to win contracts to supply medical equipment and water purification equipment.

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BlueLinx largest shareholder to attempt takeover

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Cerberus ABP Investors, an affiliate of Cerberus Capital Management, has announced in a July 22 filing with the Securities and Exchange Commission that it intends to make a tender offer for all of the outstanding publicly held shares of BlueLinx Holdings Inc.

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SEC calls The Hartford on the carpet

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Hartford Financial Services Group Inc., whose investment losses in 2008 led to a U.S. bailout, is being asked by regulators to explain why the Connecticut insurer expects its worst-performing holdings to rebound, Bloomberg News reports.

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The Consumer Memo | General Motors\’ electric Volt: a $41K jolt

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General Motors Co. says its Chevrolet Volt electric car will cost $41,000 when it goes on sale in November.

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SEC head: Agency will seek public input before writing new financial regulatory rules

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The head of the Securities and Exchange Commission said Tuesday that the agency will seek input from businesses and the public before proposing new rules to oversee Wall Street and financial companies.

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