Judge says ex-Bear exec can't join Morgan Stanley (Reuters) A judge has ruled that an ex-Bear exec can't take up work at Morgan Stanley, because, argued Bear itself, the just-resigned executive hadn't given the proper 90 days notice. The 20-year old vet just quit Bear 10 days ago, so the question seemed to be: in times of extreme chaos and uncertainty, do the normal rules about this apply? Apparently in this guy's case, the answer was yes.
Citi Continues Leadership Overhaul (WSJ)New hire at Citi: Terri Dial, who currently runs Lloyd's retail banking unit in the UK, is expected to be brought on the consumer business under Vikram Pandit. More broadly, the company is expected to break down lines on a more regional basis, allowing its operations to be more in tune with the local culture and business climate.
Neeleman to leave JetBlue for Brazilian start-up? (Today in the Sky)For some reason, this rumor is getting reignited, even though it's old: jetBlue founder and erstwhile CEO Jeff Neeleman may go to Brazil and start a new airline there. Presumably something like the jetBlue of Brazil. So far there's nothing official, though apparently he is discussing his future as chairman of jetBlue -- obviously if he jetted down to Brazil to launch a new airline, he probably wouldn't have time to attend many board meetings. Anyway, we're all for it. We've heard the civil aviation sector in Brazil could use some improvement...
Is China Really No. 1 in Internet Users? (The Numbers Guy)Maybe not. Carl Bialik, as he's prone to do, is able to poke a few holes in the side of the can, so that some light can get through. Some issues: the US survey only surveyed people with landline, which, given the demographics and all has to be skewing. Then there are people who have internet access, but who haven't used it in the last month (though really, that can't account for two many people). And then there's the fact that stats out of China can only be relied on so much -- sort of like stats for health and literacy out of Cuba. You're going to believe those?
Weber Says ECB Will Raise Interest Rates `If Needed' (Bloomberg)Those stalwart inflation fighters at the ECB won't be changing their tune any time soon. With most of the world still preoccupied about liquidity and cash availability and stuff like that, an ECB member is still warning that rate increases could be coming if inflation looks like it's becoming an issue. Yeah, they really believe int his price stability thing.
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