SEC Staff Said to End Lehman Probe Without Recommending Action By Joshua Gallu - 2012-05-24T19:23:00Z U.S. Securities and Exchange Commission investigators have concluded their probe of possible financial fraud at Lehman Brothers Holdings Inc. and determined that they will probably not recommend any enforcement action against the firm or its former executives, according to an excerpt of an internal agency memo. The agency has been grappling with the case for more than three years amid questions from lawmakers and investors as to whether Lehman misrepresented its financial health before filing the biggest bankruptcy in U.S. history in September 2008. Under a heading reading “Activity in the Last Four Weeks,” the undated document reads, “The staff has concluded its investigation and determined that charges will likely ... Continue reading →

President Barack Obama’s campaign has set a target on Mitt Romney’s tenure at the helm of Bain Capital LLC. What’s missing are high profile surrogates from the Democratic Party and the business community who will hit that theme in interviews and appearances on political talk shows. In fact, some Obama backers are undermining a core argument the president is making against the presumed Republican Party nominee as they try to avoid criticizing the investment community. Newark, New Jersey Mayor Cory Booker yesterday called the private-equity debate “nauseating to the American public” and likened it to potential Republican attacks tying Obama to his former pastor, Reverend Jeremiah Wright Jr., who once urged blacks to sing “God damn American” instead of “God Bless America.” “Enough is enough. ... Continue reading →

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Romney Backer Defends Bain's Money Making Mission By Lisa Lerer and Julianna Goldman - 2012-05-18T18:12:47Z A top surrogate to Mitt Romney said making money -- rather than creating jobs -- was the primary goal of the presumed Republican Party presidential nominee when he was running Bain Capital LLC, saying he “acted responsibly” as chief executive officer of the private-equity firm. “The role of private equity as fiduciaries is certainly to make money,” said Tom Stemberg, the founder of Staples Inc. (SPLS), in an interview on Bloomberg Television’s “Political Capital.” Bain also helped businesses grow, so “these things had redeeming social value, in addition to making Mitt and his investors a lot of money.” Stemberg appeared with a top backer of President Barack Obama, Lawrence Fish, ... Continue reading →

Boeing’s McNerney Says Obama Needs More Outreach to Business By Julianna Goldman - Tue May 08 15:33:38 GMT 2012 Enlarge image Boeing’s McNerney Says Obama Needs More Outreach to Business Jim McNerney, chairman, president and CEO of Boeing Co., speaks during the Atlantic Innovation Summit at Reagan National Airport in Washington, on May 8, 2012. Jim McNerney, chairman, president and CEO of Boeing Co., speaks during the Atlantic Innovation Summit at Reagan National Airport in Washington, on May 8, 2012. Photographer: Andrew Harrer/Bloomberg Boeing Co. (BA) Chief Executive Officer Jim McNerney said the Obama administration needs to be more sensitive to the needs of business, citing regulatory burdens that he said are creating uncertainty for companies. McNerney, who is chairman of President Barack Obama’s Export ... Continue reading →