KIDDER SCANDAL . . . DOING THE CORPORATE SHUFFLE
Once one of the most respected powers on Wall Street, the brokerage firm Kidder Peabody, went through a management shake-up today in a bid to regain some of its lost reputation. Kidder owner General Electric was rumored to be pondering whether to dump the poorly performing financial house, especially in light of recent allegations that the company's leading bonds trader had dramatically inflated actual profits. GE seems more committed than ever: along with the management shuffle, it recently sunk an additional $200 million into the enterprise.
Most Popular »
- How Cash Keeps Poor People Poor
- E.T. Turns 30: 10 Things You Didn't Know About Our Favorite Extraterrestrial
- 15-Year-Old Creates Test for Pancreatic Cancer
- Fourth Flesh-Eating-Bacteria Case Confirmed in Georgia, Possible Fifth
- Nevada Ghosts: Rare Photos From an A-Bomb Test
- Euro Crisis: Why A Greek Exit Could Be Much Worse Than Expected
- A New First Amendment Right: Videotaping The Police
- 10 Dangerous Products You Might Have in Your Home
- Could a Fertility Gene Discovery Lead to New Male Contraception?
- Star Wars Turns 35: How TIME Covered the Film Phenomenon
- Researchers Probe the Potential Health Benefits of Palm Oil
- A Visit with Turkey's Controversial Religious Movement
- Feeding the Planet Without Destroying It
- Bubble on the Potomac
- Falcon's Liftoff: How a Private Firm Could Change Space Exploration
- The Fatal Flight of the Superjet 100: Why Did It Slam Into a Mountain?
- Learning That Works
- The Man Who Remade Motherhood
- Bibi's Choice
- Seoul: 10 Things to Do
More News from Our Partners
Top Stories on TIME.com
Quotes of the Day »
RAY KELLY, New York City Police Commissioner, on the arrest of a New Jersey man in one of the nation's most baffling missing-children cases, the disappearance more than three decades ago of 6-year-old Etan Patz.
