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Thyssen chairman admits to mistakes but won't quit

ThyssenKrupp AG Chairman Gerhard Cromme admitted on Friday to making mistakes that contributed to massive losses at the German steelmaker, but didn't bow to pressure from some shareholders to step down."If you ask me whether we as a supervisory board could have done things better in the past, then my honest answer is 'yes, we trusted too long, we could have acted sooner'," he told the company's annual shareholders' meeting on Friday.Cromme has come under fire for not stopping a botched multi-billion euro project in the Americas, lavish junkets for journalists and a cartel fixing the price of rail tracks.His comments were greeted by a mix of cheers and boos from a lively audience of several thousand, aware that problems had mounted under Cromme and former Chief Executive Ekkehard Schulz.Last month the company posted a 4.7 billion euro ($6.1 billion) net loss for the year after taking a writedown on its Americas project and said it would pay no dividend for the 2011/12 fiscal year.Thysse...

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  1. The New World Trade Center

    Inside look at the rebuilding of the Ground Zero site

  2. Official Unveiling of National 9/11 Memorial and Museum

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  3. Financial District Prepares for 9/11 Anniversary

    FBN's Adam Shapiro on how the financial district is reflecting on the 10-year anniversary of 9/11 and heightened security measures being taken.

  4. Feds Warn Officials of Potential Terror Attack

    FBN’s Diane Macedo discusses the possibility of a terrorist attack in New York or Washington D.C.

  5. Obama Urges Push of $447B Jobs Bill

    FBN’s Diane Macedo breaks down the stories moving the markets ahead of the trading day.

  6. 'A Decade of Hope'

    Author Dennis Smith on sharing stories of 9/11 families

  7. 9/11: A Brand New Lower Manhattan Rises From the Rubble

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  8. Rise of Freedom: Time Lapse Photos

    Camilo Jose Vergera has been taking pictures of the World Trade Center from the same location for 40 years

  9. 'Engineering Ground Zero'

    Lead architect of 1 World Trade Center on new documentary

  10. Ground Zero Workers Threaten to Strike

    Vincent Vernuccio of the Competitive Enterprise Institute sounds off on the workers’ union threatening the completion of the Freedom Tower .

  11. A California Job Exodus?

    California State Senator Sam Aanestad on concerns over the number of jobs leaving the state.

  12. Silverstein on Plans for Ground Zero

    Silverstein Properties CEO Larry Silverstein on the state of interest and his plans for the World Trade Center .

  1. One World Trade Center ’s Price Tag Rises to $3.9B

    Manhattan Institute Scholar Nicole Gelinas and NY Post Columnist Michael Goodwin on the rising costs to rebuild One World Trade Center and to run the Port Authority.

  2. With Gratitude to Our Protectors

    Dear Military Personnel Patrolling the Skies above Manhattan and the Hudson River on this Evening of September 11, 2012 –Thank you.Sitting on a bench on Pier C in Ho...

  3. WTC is Sprouting, But Who's Moving In?

    A mini-metropolis is once again scraping the lower-Manhattan sky -- showing American patriotism and resilience -- and filling the void created by the worst terrorist...

  4. Resurgence, resilience 11 years after 9/11 attacks

    Peter Johnson, Jr. reports from New York

  5. New spending scandal for the GSA

    Inspector general for General Services Administration begins probe on one-day $270,000 gala awards ceremony

  6. NYC skyline reclaimed: Freedom Tower reaches 100 floors

    Peter Johnson, Jr. weighs in

  7. Wall Street Now Home to Protest Campground

    A standoff near Wall Street between protesters opposed to what they say is corporate greed and police may drag on into winter, with a march on police headquarters th...

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