Archive for December, 2009

A look back at 2009: The year of the Ponzi

If it felt like you were reading a story about a different Ponzi scheme nearly every day, that’s because you probably were: There were an estimated 150 such investment scams broken up this year, for an average of roughly three Ponzis a week in 2009. ( View the year of the Ponzi, in pictures.

Boralex, partner buy wind farms

E lectricity producer Boralex Inc. BLX-T said Tuesday that it has teamed with new European partner Cube Infrastructure Fund to buy three wind farms in France for $115-million. Boralex, which employs 300 people at 22 power stations in Canada, the United States and France, said the acquisition will increase its installed wind power capacity in Europe to 170 megawatts.

Morgan Stanley looks to overhaul pay plan

M organ Stanley MS-N is considering the way it compensates its top executives, looking to defer more pay and benchmark salaries against rivals, The Wall Street Journal reported Monday, citing people familiar with the matter. The move reflects Wall Street’s effort to minimize criticism of its pay practices and at the same time maintain its executive talent, the Journal reported. Earlier this month, Goldman Sachs Group Inc.

Stocks up again, as Santa Claus rally rolls merrily along

Major stock indexes extended gains into a seventh day following better readings on home prices and consumer confidence. The reports Tuesday came in largely as expected, showing a continuing gradual improvement in the economy. The Conference Board said its index of consumer confidence rose to 52.9 in December from 49.5 in November

Morgan Stanley mulls benchmarking exec pay: report

Morgan Stanley is considering the way it compensates its top executives, looking to defer more pay and benchmark salaries against rivals, The Wall Street Journal reported Monday, citing people familiar with the matter. The move reflects Wall Street’s effort to minimize criticism of its pay practices and at the same time maintain its executive talent, the Journal reported.

Auto sector on road to recovery: report

T he latest auto industry forecast from Scotia Economics predicts a strong recovery in 2010. The bank says a cyclical recovery in global auto sales that began in the spring of 2009 will gain momentum in the new year. It says the emerging markets of China, India and Brazil will lead the way and the U.S

U.S. consumer confidence extends rise

U .S. consumer confidence improved more than expected in December, hitting a three-month high as job market pessimism eased and consumers’ expectations reached a two-year high, according to a private report released on Tuesday. The Conference Board, an industry group, said its index of consumer attitudes rose to 52.9 in December from a revised 50.6 in November

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