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Mary Schapiro did not bring good things to life as head of the Securities and Exchange Commission. Now she's off to General Electric.Last week, GE said it nominated the career regulator to its board of directors. At the SEC, Ms. Schapiro made $165,000 a year for ceaseless work. At GE, she'll make $250,000 for part-time work."Her understanding of corporate governance and financial regulation will be of great benefit to GE," CEO Jeffrey Immelt said.If the SEC were an airline, GE would be one of its frequent fliers. In 2009, GE paid $50 million to settle accounting-fraud charges. "GE bent the accounting rules beyond the breaking point," said Ms. Schapiro's then-director of enforcement, Robert Khuzami, in an official news release. Typical of SEC settlements, GE neither admitted nor denied guilt.In 2010, GE paid $23.4 million to settle charges stemming from a kickback scheme with Iraqi government agencies. "Offshore does not mean off-limits," Mr. Khuzami said. "Bribes and kickbacks are bad ...
Talking Points 7/16
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Name: Jeffrey R. "Jeff" Immelt Age: 56 Company: General Electric Co. Position: CEO and chairman Education: MBA '82 from Harvard Business School, bachelor of arts in ...
General Electric (NYSE:GE) and JPMorgan Chase (NYSE:JPM) both unveiled plans on Monday to hire thousands of U.S. veterans as part of efforts to expand domestically a...
Rate Coalition Co-Chair James Pinkerton argues that high corporate tax rates make America uncompetitive.
President Barack Obama's jobs council called on Tuesday for a corporate tax overhaul, expanded domestic drilling and new regulatory reforms, a set of proposals unlik...
President Obama on Tuesday met with members of the President’s Council on Jobs and Competitiveness.The White House said in a statement that the president discussed w...
GOP presidential debate Monday
GOP Presidential debate Thursday in Iowa
UBS Americas Chairman Robert Wolf on MF Global’s bankruptcy and his firm’s efforts to create contingent plans in case of another financial crisis.
UBS Americas Chairman Robert Wolf argues a focus on infrastructure through a public-private partnership would be the best way to boost U.S. GDP growth and create jobs.
FBN’s Robert Gray on reports Eastman Kodak has hired lawyers for advice on restructuring the company.
President Barack Obama's jobs council is disbanding Thursday, two years after the president tapped executives from General Electric Co. (GE), American Express Co. (A...
The President's jobs council, comprised of high-profile CEOs but often a source of criticism and derision during Barack Obama's first term, is shutting down this wee...
A look at Jeffrey Immelt's recent comments
There is a nearly endless number of criteria that measure how well CEOs perform, whether they are paid fairly, and what metrics should be used for determining chief ...
Motorola Solutions CEO Greg Brown on urging Congress to reduce the deficit.
Former UBS Americas Chairman Robert Wolf weighs in on the Democratic National Convention, economy and President Obama.
Permac Industries CEO Darlene Miller on the Jobs Council’s efforts to boost job growth and help train people for unfilled skilled jobs.
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