Thursday, March 15, 2012

Reuters: Bankruptcy News: PRESS DIGEST - Wall Street Journal - March 15

Reuters: Bankruptcy News
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PRESS DIGEST - Wall Street Journal - March 15
Mar 15th 2012, 06:53

March 15 | Thu Mar 15, 2012 2:53am EDT

March 15 (Reuters) - The following were the top stories in The Wall Street Journal on Thursday. Reuters has not verified these stories and does not vouch for their accuracy.

* The Securities and Exchange Commission brought charges against two money managers, alleging they misled and overcharged investors on funds formed to buy shares of Facebook, Twitter and other social-media companies.

* Google is giving its tried-and-true Web-search formula a makeover as it tries to fix the shortcomings of today's technology and maintain its dominant market share.

* Citigroup's failure to get regulators' approval to return capital to shareholders caught executives and investors off guard and dealt a blow to Chief Executive Vikram Pandit's efforts to revive investor confidence in the bank.

* Goldman Sachs again was in a harsh spotlight when an employee resigned in a New York Times opinion piece that assailed the firm's culture as "toxic and destructive."

* Johnson & Johnson Chief Executive William Weldon stands to collect pension benefits and deferred compensation valued at $143.5 million after his retirement.

* Family medical practices are facing new tensions as they try to make upgrades but find that these changes often are not reimbursed under the current payment system.

* Edward S. Lampert's hedge fund has stepped in to make sure vendors continue to supply Sears by assuming some of the risk of financial institutions that provide a form of insurance to the vendors.

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