Merrill Lynch settles with New York over analyst independence
Merrill Lynch will pay a 100 million dollar fine and overhaul stock analyst compensation to end rewards tied to investment banking business. New York Attorney General Eliot Spitzer said analysts will be paid for research quality only, separating research from deal fees. The NE SEC may adopt similar reforms. Merrill apologized and pledged structural changes to ensure independence. The settlement excludes admission of wrongdoing and follows a 10 month probe revealing internal emails disparaging certain tech stocks.
MENTIONED IN THIS ARTICLE
New York
Merrill Lynch & Co
Wall Street
Nepr York
Ehor Spitzer
Merrill Lynch
Spitzer
Securities and Exchange Commission
SEC
Harvey Jim
Annette Nazareth
Nazareth
District of Columbia
Puerto Rico
Komansky
Benjamin Mark Cole
Cole
Merril Lynch
New York Stock Exchange
Eliot Spitzer
Goldman Sachs
Morgan Stanley
Ford
General Motors
Japan
Europe
France
Britain
Germany
Family maintains anglers paradise run by three women
LORAIN Mary Garwell-Ziegman and her mother Mary Garwell join sister Sophie Garwell-Walters in Garwell's Fisherman's Paradise on West Erie Avenue. The shop, opened in 1950 by Mary Garwell and her late husband George, supports the community with donated clothes and a free rod and reel for any child in need. The trio also rents land for campers and boats, and touts honest advice when fish aren’t biting.
MENTIONED IN THIS ARTICLE
Walters
Garwell-Ziegman
Bart
George Garwell
Mary Garwell
Garwell- Ziegman
Garwell
Fisherman's Paradise
Lorain
Sophie Garwell-Walters
Mary Garwell- Ziegman
Senate blocks legacy costs health aid for steel retirees
A Senate filibuster prevented an amendment to a trade bill that would tax credit 70 percent of health insurance for about 125,000 steel retirees, including 85,000 from LTV Corp. in Cleveland. Supporters say they will revive the measure later to ease retiree health care and pension costs.
MENTIONED IN THIS ARTICLE
Senate
White House
Bush
Barbara A. Mikulski
D-Md
John D. Rockefeller
Dw.va
LTV Corp
LTV
Terror fears push stocks lower amid terror fears
Investors sought safety on Tuesday as fears of terror attacks spurred selling. The Nasdaq slid 2.2 percent, the Dow dropped about 123 points, and the S&P 500 eased nearly 1.1 percent. FBI warnings of uncorroborated threats weighed on sentiment.
MENTIONED IN THIS ARTICLE
New York
Merrill Lynch
Wall Street
FBI
Statue of Liberty
Brooklyn Bridge
Arthur Hogan
Jefferies & Co
Dow
Standard & Poor
Dick Cheney
Dollar Slumps As Yen Weakens Market Outlook Darkens
The dollar extended losses against the euro and yen amid light trading after European markets closed for a holiday. Gold hit a two year high as a weaker dollar and Middle East tensions spurred buying. Stocks mostly fell with Home Depot Target and IBM among notable decliners. Merrill Lynch and rivals faced regulatory pressures. The Russell 2000 slid while major european indices edged lower as investors weighed currency moves and earnings.
MENTIONED IN THIS ARTICLE
Euro New
Tim Stewart
Morgan Stanley
New York
New York Mercantile Exchange
Middle East
Alan Ackerman
Fahnestock & Co
Home Depot
Target
A.G. Edwards
Applied
Dell Computer
Dell
IBM
Microsoft
Merrill Lynch
Also Mentioned on This Page
N.Y
David H. Komanksy
Tony Lombardo
the Chronicle-Telegram
Ziegman
Metro
Chronicletelegram
Equity
Beneaxp
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