Streams

Charlie Herman

Business and Economics Editor

Charlie Herman appears in the following:

Pfizer to Cut 6,000 Jobs

Tuesday, May 18, 2010

New York-based drugmaker Pfizer says it will reduce its global workforce by 6,000 employees over the next several years. The move is part of the company’s acquisition of Wyeth. Pfizer plans to end operations at eight manufacturing sites and reduce operations at another six facilities. "These decisions are ...

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SEC Proposes New Stock-Trading 'Circuit Breaker'

Tuesday, May 18, 2010

After the near 1,000 point drop of the Dow Jones earlier this month, the Securities and Exchange Commission has announced a plan for an across-the-board "circuit breaker."

The new proposal would pause trading for all U.S. stock markets for five minutes when a specific stock rises or falls more than 10 ...

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April Foreclosure Rates Down 9 Percent

Thursday, May 13, 2010

But even as foreclosure rates dipped, bank repossessions of properties rose last month.

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Hope for the Housing Market? Foreclosure Filings Fell in April

Thursday, May 13, 2010

Could it be, just maybe, that after months of record foreclosure filings, the pace is slowing?

According to the online foreclosure tracking firm RealtyTrac, the number of foreclosure filings fell 9 percent in April compared to the previous month and dropped 2 percent from a year ago.

“April was the first month ...

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April Foreclosure Filings Fall Slightly

Thursday, May 13, 2010

Could it be that after months of record foreclosure filings that just maybe the pace is slowing?

According to the online foreclosure tracking firm RealtyTrac, the number of foreclosure filings fell nine percent in April compared to the previous month and dropped two percent from a year ago.

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Financial 411: Morgan Stanley Under Investigation?

Wednesday, May 12, 2010

Today on the Financial 411, Amy Eddings spoke with Wall Street Journal reporter Amir Efrati about that paper’s report that Morgan Stanley is under investigation for misleading investors about multimillion-dollar investments based on mortgage securities. The reported investigation by the Securities and Exchange Commission follows a recent filing by the ...

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Pfizer Plans NYC Layoffs

Tuesday, May 11, 2010

Drugmaker Pfizer confirmed Tuesday that it will relocate or lay off workers in its New York City office. While a company spokesman would not confirm the number of employees affected, Pfizer stressed it will keep its headquarters on 42nd street near Grand Central Station, even as it plans to sell ...

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Stock Markets Volatile, After Turbulent Day

Friday, May 07, 2010

Markets fell sharply today following a huge sell-off on Wall Street yesterday.

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Goldman Sachs to Conduct Comprehensive Review

Friday, May 07, 2010

At the bank’s annual meeting, Lloyd Blankfein told Goldman Sachs shareholders that the firm, under fire from critics on all sides, will undertake a comprehensive review of its business practices.

“Questions have been raised that have gone to the heart of our most fundamental value, how we treat our clients,” ...

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Markets Plunge Before Bouncing Back

Thursday, May 06, 2010

Reminiscent of the chaotic last days of 2008, fear once again gripped Wall Street on Thursday as investors worried that Greece's debt crisis could spread throughout Europe.

At one point, the Dow Jones Industrial Average was down more than 992 points, the biggest intraday drop on record. Depending on the time, ...

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Senator Carl Levin on the Wall Street Crisis, Junk Bonds and Michigan Foreclosures

Friday, April 30, 2010

We speak with United States Senator Carl Levin (D-Mich.) on how the actions of bankers on Wall Street directly affected the lives of homeowners living on Main Street. Credit default swaps, collateralized debt obligations and the mechanics of the murky mortgage markets are contributing to the media buzz surrounding the President’s call for Wall Street reform legislation. But it's easy for some of the truly important parts of the debate to lost in a sea of accusations.

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