NEW YORK (
) -- Here are the top stock market headlines for the morning of Friday, Dec. 11, 2009.
Friday's Early Headlines
- Bank of America Talks to Bank of New York's Kelly for CEO Job -- Bank of New York Mellon (BK) - Get Report CEO Robert Kelly told directors this week he was in discussions for the top job at Bank of America (BAC) - Get Report, the Wall Street Journal reports. Kelly became a possibility to succeed the departing Ken Lewis again after Bank of America received the OK to pay back $45 billion in funds it received from the government's Troubled Asset Relief Program, the Journal reports. The approval freed the bank from pay restrictions and oversight by the Treasury Department that turned off some CEO candidates.
- Boeing's Dreamliner Could Fly Next Week -- Boeing (BA) - Get Report said its long-delayed Dreamliner could take to the skies as early as Tuesday. The Dreamliner's first flight will take place after final flight readiness reviews, documentation from the Federal Aviation Administration and taxi testing. The flight also is subject to weather conditions.
- Feinberg to Hand Down New Pay Rulings -- The Obama administration's pay czar Kenneth Feinberg plans to announce Friday his next wave of rulings on compensation at firms that received bailout funds from the U.S. government, Reuters reports. Feinberg said the rulings likely will reduce pay for the 26th to 100th highest-paid employees at Citigroup (C) - Get Report, American International Group (AIG) - Get Report, and General Motors.
- Goldman Top Execs to Forgo Cash Bonuses -- Goldman Sachs (GS) - Get Report said members of its management committee will get restricted stock instead of cash bonuses in 2009. The 30-person management committee will receive so-called shares at risk, meaning the holdings are subject to sales restrictions for five years.
- China's Exports Fall 1.2% in November -- The slump in China's exports eased in November as global demand improved while strong gains in industrial output and retail sales showed that the recovery in the world's third-biggest economy is gathering momentum, reports the Associated Press.
-- Written by Joseph Woelfel in New York.
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