Bank of America Corp. gave Thomas Montag a $29.9 million compensation package in 2009 for running its global banking and markets units and to fulfill promises made when Merrill Lynch & Co. hired him in 2008.

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Bank of America Gave Montag $29.9 Million Package (Update2)

Used and salvaged vehicle auctioneer KAR Auction Services Inc. said Friday that it posted a fourth-quarter profit, reversing a loss a year ago but falling short of analyst expectations. The company said it earned $5.3 million, or 5 cents per share, up from a $…

Auction – Business – Business Services – KAR Auction Services – Auction Houses

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KAR Auction Services posts 4Q profit

A winter storm that pummeled New York City for two days broke a monthly record for snowfall in Central Park that stood for 114 years, according to the National Weather Service.

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NYC Storm Breaks 114-Year-Old Snowfall Record for Central Park

California has put the “for sale” sign on 11 state office buildings, including the San Francisco Civic Center and the Ronald Reagan State Building in Los Angeles, as a way to raise cash to shrink the budget deficit. Los Angeles-based real estate firm CB…

Los Angeles – CB Richard Ellis – California – San Francisco – Ronald Reagan

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California puts 11 office buildings up for sale

Central Garden & Pet Co. said Friday it priced an offering of $400 million in senior notes due 2018. The lawn, garden and pet supply company said Monday it planned to sell $300 million in notes. The proceeds will be used to buy back senior notes that come due…

Garden – Shopping – Tools – Home and Garden – Home

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Central Garden & Pet prices sale of $400M in notes

Among the earnings stories for Friday, Feb. 26, from AP Financial News: WASHINGTON (AP) _ Fannie Mae is asking for a federal cash infusion of $15.3 billion after posting another big loss in the fourth quarter of last year. NEW YORK (AP) _ Marine insurance…

Fannie Mae – United States – Business – NEW YORK – Freddie Mac

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Earnings roundup: Fannie Mae, NYMagic

Fannie Mae, the mortgage-finance company under federal conservatorship, said it will seek $15.3 billion in aid from the U.S. Treasury after posting a 10th straight quarterly loss.

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Fannie Seeks $15.3 Billion in Aid After 10th Loss (Update1)

WASHINGTON (Reuters) – The Senate’s chief architect of financial regulation reform said on Friday the Federal Reserve may “not necessarily” lose its authority to supervise banks.

Fed may not lose bank supervision role: Dodd

Adhesive label and ticket maker Avery Dennison Corp. said Friday that President and CEO Dean Scarborough will succeed Kent Kresa as chairman of the board. The company said Kresa is retiring because its policies require that directors retire at age 72. His…

Avery Dennison – Kent Kresa – Chairman – United States – Counties

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Avery Dennison CEO Scarborough to become chairman

Blackstone Group Inc., the world’s biggest private-equity company, paid Steve Schwarzman a salary of $350,000 and no bonus for 2009, according to a filing today with the U.S. Securities and Exchange Commission.

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Blackstone Says CEO Steve Schwarzman Paid $350,000 Last Year

PepsiCo Inc.’s Gatorade brand ended its marketing relationship with golfer Tiger Woods, the company said.

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PepsiCo’s Gatorade Ends Marketing Agreement With Tiger Woods

Raphael Kassin, the former Credit Suisse Group AG and ABN Amro Asset Management fund manager who has been bullish on Argentine bonds since 2004, says the debt is no longer “worth the risk.”

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Argentine Bond Bull Kassin Says Debt Not ‘Worth Risk’ (Update2)

NEW YORK (Reuters) – Two top Fed officials on Friday offered divergent signals on interest rates, with one arguing they should remain near zero for at least six months and another wishing to raise them “sooner rather than later.”

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Fed officials at odds on right level for rates

Sales of previously owned U.S. homes unexpectedly dropped 7.2 percent in January to a seven-month low, indicating a lack of job growth is undermining government incentives to bolster the housing market.

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Existing Home Sales Fall Unexpectedly

Bank of America Corp. gave Thomas Montag a $29.9 million compensation package in 2009 for running its global banking and markets units and to fulfill promises made when Merrill Lynch & Co. hired him in 2008.

See the original post here:
Bank of America Gave Montag $29.9 Million Package (Update1)