04/18/12
Marketplace Morning Report for Wednesday, April 18, 2012
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Citigroup's shareholders have said 'no way' to a hefty pay package for senior executives, including a $15 million dollar salary for bank's CEO. The White House is threatening to veto a transportation bill in the House after legislators tacked on an approval for the controversial Kestone XL oil pipeline -- even though the company building the pipeline says it's secured almost all the land it needs to begin construction of a shortened line from Oklahoma to the Gulf Coast. And Hulu joins online rival Netflix in producing original web-only content, and looking for new advertising revenue.
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Citigroup investors push back on exec pay packages
Fifty-five percent of the bank's shareholders voted against pay packages for top execs, including $15 million in compensation for CEO Vikram Pandit. The vote is advisory only, though, and thus doesn't actually force a change in Citi's pay practices.
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Are Citigroup's shareholders starting a trend?
Citigroup stock is down 0.1 percent , that after shareholders in an advisory vote said no dice to a hefty pay package for executives, including a $15 million salary for Citigroup's CEO.
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PODCAST: Warren Buffett stays in the game, Citigroup shareholders speak their mind
Citigroup's shareholders have said 'no way' to a hefty pay package for senior executives, including a $15 million dollar salary for Citigroup's CEO. The White House is threatening to veto a transportation bill in House after legislators tacked on an approval for the controversial Kestone XL oil pipeline, even though the company building the pipeline says it's secured almost all the land it needs to begin construction of a shortened line from Oklahoma to the Gulf Coast. And Hulu joins online rival Netflix in producing original web-only content, and looking for new advertising revenue.
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LVMH sales bump up 25 percent
The luxury brand responsible for Louis Vuitton and Dom Perignon saw its sales grow 25 percent in the first quarter of the year. But it turns out, it isn't all because of those upscale products.
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Nestle in talks to buy Pfizer's baby food business
Reuters reports Nestle is closing in on a deal to buy Pfizer's infant nutrition business for up to $10 billion. That's a lot of baby formula.
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Hulu to pitch original programming at upfronts
Usually, it's network broadcasters and cable channels that pitch advertisers at the upfronts. Now, there are new kids on the block.
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Corruption still endemic in Russia
Just because Vladimir Putin was re-elected to the presidency doesn't mean he can relax. Many former protesters were entrepreneurs who are still battling corruption and red tape.
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Fracking linked to more Midwest earthquakes
The U.S. Geological Survey says a "remarkable" increase of earthquakes in the U.S. mid-continent since 2001 is "almost certainly" the result of oil and gas production. How will these findings impact the fracking industry?
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Chicago's speed cameras: Safety tool or cash cow?
The Chicago City Council may allow allow speed cameras around the city, with fines as much as $100. Mayor Rahm Emanuel says it'll improve safety for kids. Others call it a cash grab.
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Keystone XL pipeline runs into landowner scrutiny
TransCanada has secured almost all the land it needs to begin construction of the XL Pipeline. But a few landowners are holding out.
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Citigroup shareholders: 'No' on proposed executive pay
Citigroup shareholders said no dice to a hefty pay package for senior executives, including a $15 million salary for Citigroup's CEO.
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Warren Buffett battling cancer, holding on to company
Billionaire investing legend Warren Buffett has been diagnosed with early-stage prostate cancer. The CEO and chairman of Berkshire Hathaway is assuring shareholders his disease is not life threatening.
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Amazon acquires rights to James Bond novels
Amazon is stepping up its publishing push, with help from none other than Agent 007. The online bookseller has just acquired the rights to the James Bond novels behind the movies.
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Shareholders react to Warren Buffett's illness
Billionaire investor Warren Buffett has announced he has prostate cancer. The 81-year-old told shareholders in a letter that the cancer is in its early stages, and he'll continue to head up Berkshire Hathaway.
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