This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Treasury Probes Bank Payout to Ex-CEO

The South Financial Group drew widespread criticism for the timing of Whittle's golden parachute. The South Financial Group's shares have fallen to as low as $2.48 per share from more than $27 last year, due to troubled real estate loans.

Whittle's exact compensation is difficult to calculate, due to benefits, stocks options and the like, but the bank has said it will cost shareholders at least $12 million. Some estimates have put it as high as $18 million. The situation has also prompted at least one shareholder lawsuit, which is currently working its way through the courts.

Nine of the nation's largest banks, including Bank of America (BAC ) JPMorgan Chase (JPM - Get Report) Citigroup (C - Get Report) and Wells Fargo (WFC - Get Report)), agreed to an initial round of investments.

A host of regional banks, including PNC Financial Services (PNC - Get Report)and KeyCorp (KEY - Get Report)have subsequently disclosed that they have received U.S. government money.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
BAC $16.52 0.46%
C $53.90 -0.50%
JPM $65.00 0.43%
KEY $14.82 1.30%
PNC $94.15 0.94%

Markets

DOW 18,012.85 -57.55 -0.32%
S&P 500 2,101.44 -13.05 -0.62%
NASDAQ 4,960.9980 -55.9310 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs