No ‘stress’
In letters to the 19 banks undergoing tests of their financial strength, federal regula tors told the companies not to disclose their per formance during upcom ing earnings announce ments, according to industry and govern ment officials who re quested anonymity be cause they are not authorized to discuss the process. Government of ficials want to announce the results all at once, at the end of the month.
Tribune probe
The Department of Labor subpoenaed Trib une Co. over an employee stock plan crucial to real estate mogul Sam Zell’s buyout of the media com pany, Tribune said in a bankruptcy court filing. The filing did not say what kinds of documents the government was seek ing or what it planned to do with them.
GM, Chrysler
Standard & Poor’s cut certain debt ratings of GM and Chrysler, citing lower likelihood of debt ors’ recovery in the event either carmaker defaults on the loans or files for bankruptcy.
JetBlue
JetBlue CEO David Barger received compen sation valued at $885,625 in 2008, his first full year in the role, a filing said. That’s more than triple the $257,270 he received in 2007.
Jones pay
Jones Apparel Presi dent and CEO Wesley R. Card received compen sation valued at $5.4 mil lion in fiscal 2008, up al most 68 percent from a year earlier, when he re ceived $3.2 million, a fil ing shows. Reuters, N.Y. Post