| The bank most likely to walk into a sharp object
What these investors didn't know was that CIBC was preparing to write down an additional $2-billion in a matter of weeks, enough to make it one of the costliest misadventures in Canadian banking history. Mr. McCaughey, whose entire tenure to this point had been geared toward erasing the taint of previous scandals, methodically stripping away risk and rehabilitating the bank's maverick reputation, knew that he would have to make senior management changes, and was already in secret negotiations to recruit his close friend Richard Nesbitt, who runs the Toronto Stock Exchange, as a replacement for Brian Shaw as head of the gaffe-prone investment bank, CIBC World Markets. Mr. Shaw, who probably suspected at this time that his days were numbered, nevertheless remained in Toronto while his family went to Mexico on vacation, helping to carry out one of Mr.
Charles Schwab Announces Expansion of Its Laudus Funds Offering
SAN FRANCISCO, Nov. 5 /PRNewswire-FirstCall/ -- Charles Schwab & Co., Inc. announced today that it has expanded its Laudus Funds line-up by entering into a new sub-advisory relationship with Mondrian Investment Partners Limited, the London-based international investment house which offers investment management services to institutional investors. The newly created Laudus Mondrian fund offering will include the Laudus Mondrian Emerging Markets Fund and the Laudus Mondrian International Fixed Income Fund. These two new mutual funds provide independent advisors and individual investors with new access to the international investment expertise of Mondrian Investment Partners Limited, which has primarily been available to large institutional investors. "Laudus Funds is committed to providing RIAs and individual investors with access to leading institutional investment managers.
2 who sued shut preschool warn others not to count on getting back ...
Brooklyn Children's Academy Preschool director Andy Lewis pledged to pay up, but teacher Shanell Turner, 22 - who won $3,020 in Small Claims Court in November - hasn't collected a dime. "Honestly ... I don't think they're going to get their money, and I don't think I'm going to get mine," Turner said. When the school opened in a new location on Dean St. in early November, the city Health Department shuttered the site for dangerous conditions, including peeling paint, exposed wires and lack of heat. Parents were left without child care - and owed their deposits. Teachers also were owed back wages - at least $50,000 by their count. Turner, who quit the school before the move, sued after not receiving payment for a raise she was promised.
Official to quit if Roberts returns
Read the latest stories about the ORU lawsuit, examine the lawsuit and other documents, and watch slide shows and video.
Vote in a poll: Should Richard Roberts return as the president of ORU?
Oral Roberts University's executive vice president of academic affairs and provost offered his resignation to the board of regents on Thursday if the board decides to keep Richard Roberts as president.
Mark Lewandowski wrote regents Chairman George Pearsons that he "would be pleased to continue to serve" in his job if Roberts resigns or is not reinstated, according to his letter first obtained by The Associated Press.
Roberts has been on a leave of absence as ORU president since Oct. 17 while the board and independent auditors investigate allegations made in a lawsuit that he and his family misused ORU and Oral Roberts Ministries money and resources.
FDA approves HIV drug etravirine
Sold under the trade name Intelence, etravirine is a non-nucleoside reverse transcriptase inhibitor, or NNRTI, that helps to block an enzyme that the human immunodeficiency virus needs to multiply, the FDA said. It was approved for use in combination with other anti-HIV medications. Etravirine can reduce the amount of HIV in the blood and increase white blood cells that help fight off other infections, the FDA said. It also may reduce the risk of death or infections that can occur with a weakened immune system. The government gave etravirine a priority review, a status granted to medications aimed at treating serious or life-threatening conditions. Tibotec Pharmaceuticals Ltd., a unit of Johnson & Johnson, said last July that it had requested etravirine be placed on a fast track for review.
First, build a down payment
Dear Liz: I'd like to buy my first house soon, but real estate is expensive where I live and condominiums seem more affordable. What is your take on owning a condo versus a house? Because I will have to do 100% financing, I will have to pay $250 a month in private mortgage insurance, which will result in a payment of about $2,450 a month for a 30-year, fixed-rate mortgage, which seems like a lot. I was advised that I could decrease my tax withholding, because the mortgage interest will be deductible, and that will make the payment seem less huge.
Answer: Wait a bit and build a down payment.
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Haggerty, MacKenzie star for McGill lacrosse
Unlike high school, when they played lacrosse during the spring season, Teagan Haggerty of Salem and Whitney MacKenzie of Hamilton have gotten used to playing their college lacrosse in the fall, due to the fact that spring comes so late in Canada.
Nevertheless, Haggerty and MacKenzie are coming off of outstanding seasons for McGill University in Montreal this past season.
Haggerty, a junior captain and goaltender, was selected as a Second Team All-Star for the Ontario University Athletic League. A third-year math major, she helped the Martlets finish the year 7-6-3, qualify for the playoffs and made 19 saves in a tough 7-5 loss to Western Ontario University in the playoff quarterfinals.
MacKenzie, who transferred into McGill from William Smith College in New York, contributed to the Martlets' offense as an attack wing.
Businessman Behind Bid For SPL Club Exposed As Pimp
A TYCOON trying to buy an SPL football club can today be exposed as a sleazy pimp luring women into prostitution. Neil MacGregor, 35, claims to be a wealthy ex-SAS officer with a bodyguard firm protecting Hollywood stars. Last week he launched a multi-million pound bid for Inverness Caledonian Thistle after a similar approach to Third Division Elgin City flopped. But we can reveal that MacGregor operates an internet escort agency hiring Scots girls to sell sex in the US porn industry. He was snared after trying to groom a Sunday Mail reporter, posing as a recruit, for a life of vice. Our investigator, who provided a fake CV and photo, agreed to meet MacGregor at Crieff Hydro Hotel in Perthshire but he fled after being confronted.
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