BNAT102007
On the homepage
Sunday's paper
Out There
9/11 trial
Outreach
Nation+world briefs
Print this story
E-mail this story
Save to del.icio.us
Share on Facebook
Share on Digg
Minnesota business by the numbers
See Minnesota's top earning companies, CEOs and non-profits
More from Business
Yahoo losing its chief marketing officer
Yahoo Incorporated's chief marketing officer is leaving the company in two weeks, joining a management exodus that has unfolded as the Internet icon struggles to snap out of a financial funk. The company didn't give a reason for Cammie Dunaway's departure. Dunaway, who joined Yahoo in 2003, had been the Internet search engine company's head of customer experience, as well as chief marketing officer. Her last day on the job will be Nov. 2. Allen Olivo, Yahoo's vice president of global brand marketing, will take over Dunaway's duties until a permanent replacement is found.
Chairman leaving lender Northern Rock
Northern Rock PLC said that it was replacing its chairman, after two months of troubles during which the mortgage lender took emergency funding from the Bank of England and saw the first run on a British bank in nearly a century. Chairman Matt Ridley, who has carried much of the blame for Northern Rock's troubles, is resigning and will be succeeded by former Standard Chartered PLC Chairman Bryan Sanderson, the bank said in a prepared statement to the London Stock Exchange.
Trifecta: Vonage sued again over patents
Internet telephone company Vonage Holdings Corp. disclosed that it's the target of yet another patent lawsuit from a telephone company, in this case AT&T Inc. That makes AT&T the third major phone company to sue Vonage, which until recently was a leader in selling phone service that rides the customers' broadband connections. In a filing with the Securities and Exchange Commission, Vonage said that AT&T filed the lawsuit Wednesday in U.S. District Court in Madison, Wis. It said it has been in discussions with AT&T to resolve the dispute but can't guarantee that the case won't go to trial.
Citigroup raises enough cash to cover its SIVs
Citigroup Inc. confirmed that it has secured enough funding to cover the $80 billion in assets held in its structured investment vehicles -- at least until the end of the year. This means Citigroup won't have to sell the debt underlying the seven SIVs it manages at bargain-basement prices, which would translate to losses for the bank. SIVs are sponsored by banks that sell short-term debt -- such as unsecured commercial paper -- to investors such as hedge funds.
Recent Business stories
Federal judge rejects mistrial motion in former NY Senate leader's political corruption case - October 19, 2007
Federal judge rejects mistrial motion in former NY Senate leader's political corruption case - A federal judge denied a motion for a mistrial Friday in the corruption case of former New York Senate leader Joseph Bruno, rejecting the defense argument that he was favoring the prosecutors. More
- Moguls tell how they were fooled
- New website is a one-stop job shop
- Faith-based investors lobby against Chamber's stand
- GM: 37 pct of US Saab dealerships to close
- Opry, MySpace team up for Underwood performance
- Red Wing Shoe to trim workforce, consolidate operations
- ADC buyout speculation appears to be just that
Blog: Patent Pending
Meanwhile, in Wisconsin....
As you read this blog entry, angel investors and start-ups are flocking to Madison, Wisconsin for the annual Wisconsin Early Stage Symposium and the Mid West Health Care Venture forum.
Comment on this story | Be the first to comment | Hide reader comments