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John Thain
John Alexander Thain (born May 26, 1955) is an American businessman, investment banker, and former chair and CEO of the CIT Group. Thain was the last chairman and chief executive officer of Merrill Lynch before its merger with Bank of America. He was designated to become president of global banking, securities, and wealth management at the newly combined company, but resigned on January 22, 2009. Ken Lewis, CEO of Bank of America, reportedly forced Thain to step down after several controversies, such as the losses at Merrill Lynch which proved to be far larger than previously estimated, and the award of huge executive bonuses. He is currently a board member of Uber appointed by former Uber chief executive officer Travis Kalanick on September 29, 2017. Background Thain was born in Antioch, Illinois. His father, Alan, was a doctor on the town's redbrick Main Street who has since handed his practice on to Thain's two brothers, Dennis and Robert, both general practitioners. He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antioch, Illinois
Antioch is a village in the U.S. state of Illinois. Antioch is part of the larger Antioch Township within Lake County. As of the 2020 census, the population was 14,622. The village is nestled into the Chain O'Lakes waterway system and borders the state of Wisconsin. Part of the Chicago metropolitan area, Antioch is located approximately halfway between the major cities of Chicago (60 miles south) and Milwaukee (50 miles north). History Native American history The Pottawatomi Tribe historically inhabited in the area of present-day Antioch prior to European settlement.Village of Antioch - History The tribe was pushed to the west by European/American encroachment in the 1830s although remnants can still be found today. European settlement The first permanent European settlements in the region were a ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New York Stock Exchange
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was approximately 169 billion in 2013. The NYSE trading floor is at the New York Stock Exchange Building on 11 Wall Street and 18 Broad Street and is a National Historic Landmark. An additional trading room, at 30 Broad Street, was closed in February 2007. The NYSE is owned by Intercontinental Exchange, an American holding company that it also lists (). Previously, it was part of NYSE Euronext (NYX), which was formed by the NYSE's 2007 merger with Euronext. History The earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement. Previously, securiti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Daily Beast
''The Daily Beast'' is an American news website focused on politics, media, and pop culture. It was founded in 2008. It has been characterized as a "high-end tabloid" by Noah Shachtman, the site's editor-in-chief from 2018 to 2021. In a 2015 interview, former editor-in-chief John Avlon described the ''Beast''s editorial approach: "We seek out scoops, scandals, and stories about secret worlds; we love confronting bullies, bigots, and hypocrites." In 2018, Avlon described the ''Beast''s "strike zone" as "politics, pop culture, and power". History ''The Daily Beast'' began publishing on October 6, 2008. Its founding editor was Tina Brown, a former editor of ''Vanity Fair'' and ''The New Yorker'' as well as the short-lived ''Talk'' magazine. The name of the site was taken from a fictional newspaper in Evelyn Waugh's novel ''Scoop''. In 2010, ''The Daily Beast'' merged with the magazine ''Newsweek'' creating a combined company, The Newsweek Daily Beast Company. The merger en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Troubled Assets Relief Program
The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President George Bush. It was a component of the government's measures in 2009 to address the subprime mortgage crisis. The TARP originally authorized expenditures of $700 billion. The Emergency Economic Stabilization Act of 2008 created the TARP. The Dodd–Frank Wall Street Reform and Consumer Protection Act, signed into law in 2010, reduced the amount authorized to $475 billion. By October 11, 2012, the Congressional Budget Office (CBO) stated that total disbursements would be $431 billion, and estimated the total cost, including grants for mortgage programs that have not yet been made, would be $24 billion. On December 19, 2014, the U.S. Treasury sold its remaining holdings of Ally Financial, essentially ending the program. Purpose TARP allowed ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commode
A commode is any of many pieces of furniture. The ''Oxford English Dictionary'' has multiple meanings of "commode". The first relevant definition reads: "A piece of furniture with drawers and shelves; in the bedroom, a sort of elaborate chest of drawers (so in French); in the drawing room, a large (and generally old-fashioned) kind of chiffonier." The drawing room is itself a term for a formal reception room, and a chiffonier is, in this sense, a small sideboard dating from the early 19th century. Another meaning attested is a washstand, a piece of furniture equipped with basin, jug, and towel rail, and often with space to store the chamber pot behind closed doors. A washstand in the bedroom pre-dates indoor bathrooms and running water. In British English, "commode" is the standard term for a commode chair, often on wheels, enclosing a chamber pot—as used in hospitals and assisted living homes. In the United States, a "commode" is now a colloquial synonym for a flush toile ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credenza
A credenza is a dining room sideboard, particularly one where a central cupboard is flanked by glass display cabinets, and usually made of burnished and polished wood and decorated with marquetry. The top would often be made of marble, or another decorative liquid- and heat-resistant stone. The credenza started as a rough table with a cloth draped over it. In early 14th-century Italy, it took on an architectural form with column and pilaster decorations. In modern times, a credenza is more often a type of sideboard used in the home or restaurant. In dining rooms, it is typically made from wood and used as a platform to serve buffet meals. In restaurant kitchens, made from stainless steel, it provides a side surface and storage cupboards. Etymology Originally in Italian the name meant ''belief'' or ''trust'' (etymologically connected to the English word "credence"). In the 16th century the act of ''credenza'' was the tasting of food and drinks by a servant for a lord or other ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of S&P 500 Companies
The S&P 500 stock market index is maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30 companies that compose the Dow Jones Industrial Average). The index includes about 80 percent of the American equity market by capitalization. It is weighted by free-float market capitalization, so more valuable companies account for relatively more weight in the index. The index constituents and the constituent weights are updated regularly using rules published by S&P Dow Jones Indices. Although called the S&P 500, the index contains 503 stocks because it includes two share classes of stock from 3 of its component companies. S&P 500 component stocks Selected changes to the list of S&P 500 components S&P Dow Jones Indices updates the components of the S&P 500 periodically, typically in response to acquisitions, or to keep the index up to date as various companies grow or shrink i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Associated Press
The Associated Press (AP) is an American non-profit news agency headquartered in New York City. Founded in 1846, it operates as a cooperative, unincorporated association. It produces news reports that are distributed to its members, U.S. newspapers and broadcasters. The AP has earned 56 Pulitzer Prizes, including 34 for photography, since the award was established in 1917. It is also known for publishing the widely used '' AP Stylebook''. By 2016, news collected by the AP was published and republished by more than 1,300 newspapers and broadcasters, English, Spanish, and Arabic. The AP operates 248 news bureaus in 99 countries. It also operates the AP Radio Network, which provides newscasts twice hourly for broadcast and satellite radio and television stations. Many newspapers and broadcasters outside the United States are AP subscribers, paying a fee to use AP material without being contributing members of the cooperative. As part of their cooperative agreement with the AP, most ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Grasso
Richard A. "Dick" Grasso (born July 26, 1946 in Jackson Heights, Queens, New York) was chairman and chief executive of the New York Stock Exchange from 1995 to 2003. He started in 1968 when he was hired by the Exchange as a floor clerk. He later became embroiled in controversies and lawsuits about his allegedly excessive pay package and $188.5 million golden parachute. The New York Attorney General filed a lawsuit which challenged the compensation as excessive for the NYSE, which at the time was a nonprofit. However, on July 1, 2008, the New York State Court of Appeals dismissed all claims against Grasso because the NYSE had changed its status from a nonprofit to a for-profit organization, which meant that the attorney general had lost standing to sue Grasso. Early life and education Grasso was raised by his mother and two aunts in Jackson Heights in New York City. His father left the family when Richard was an infant. He graduated from Newtown High School in Queens and attend ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Wall Street Journal
''The Wall Street Journal'' is an American business-focused, international daily newspaper based in New York City, with international editions also available in Chinese and Japanese. The ''Journal'', along with its Asian editions, is published six days a week by Dow Jones & Company, a division of News Corp. The newspaper is published in the broadsheet format and online. The ''Journal'' has been printed continuously since its inception on July 8, 1889, by Charles Dow, Edward Jones, and Charles Bergstresser. The ''Journal'' is regarded as a newspaper of record, particularly in terms of business and financial news. The newspaper has won 38 Pulitzer Prizes, the most recent in 2019. ''The Wall Street Journal'' is one of the largest newspapers in the United States by circulation, with a circulation of about 2.834million copies (including nearly 1,829,000 digital sales) compared with ''USA Today''s 1.7million. The ''Journal'' publishes the luxury news and lifestyle magazine ' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John S
John is a common English name and surname: * John (given name) * John (surname) John may also refer to: New Testament Works * Gospel of John, a title often shortened to John * First Epistle of John, often shortened to 1 John * Second Epistle of John, often shortened to 2 John * Third Epistle of John, often shortened to 3 John People * John the Baptist (died c. AD 30), regarded as a prophet and the forerunner of Jesus Christ * John the Apostle (lived c. AD 30), one of the twelve apostles of Jesus * John the Evangelist, assigned author of the Fourth Gospel, once identified with the Apostle * John of Patmos, also known as John the Divine or John the Revelator, the author of the Book of Revelation, once identified with the Apostle * John the Presbyter, a figure either identified with or distinguished from the Apostle, the Evangelist and John of Patmos Other people with the given name Religious figures * John, father of Andrew the Apostle and Saint Peter * Pope J ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subprime Mortgage Crisis
The United States subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the Financial crisis of 2007–2008, 2007–2008 global financial crisis. It was triggered by a large decline in US home prices after the collapse of a 2000s United States housing bubble, housing bubble, leading to Mortgage loan, mortgage delinquencies, foreclosures, and the devaluation of Mortgage-backed security, housing-related securities. Declines in residential investment preceded the Great Recession and were followed by reductions in household spending and then business investment. Spending reductions were more significant in areas with a combination of high household debt and larger housing price declines. The housing bubble preceding the crisis was financed with Mortgage-backed security, mortgage-backed securities (MBSes) and collateralized debt obligations (CDOs), which initially offered higher interest rates (i.e. better returns) than go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
