Wall Street Journal
Presidential contender Donald Trump doesn't have a public record to analyze, but he does have a business record. The Journal, in its analysis of that record, shows Trump at his weakest, and his most heartless, in his
Citi had also financed most of Trump's purchase, in the early 1990s, of the Plaza Hotel in New York. At one point, as Trump was looking for someone to buy the property, Citi pushed for a sale to foreign investors; however, the foreign buyers would not have much of a role for Trump in the Plaza's operations. That didn't sit well with Trump, who told Citi, "you're going to go through hell" before the sale would happen.
Trump attempted to persuade a Citi banker, Patricia Goldstein, to take his side. Trump reminded Goldstein that he'd helped get her ailing husband a spot in a hospice run by the Catholic Archdiocese of New York, as he was dying of cancer. But as far as the sale of the Plaza was concerned, Goldstein wasn't interested in letting Trump cash in on that earlier favor. Moreoever, Goldstein was "nasty" to Trump, he told the Journal.
"I said, 'No one has ever spoken to me in that way. See what I do to you,'" he said. "I would see her at functions at various ballrooms throughout the city and I would say such things that some people were shocked," Trump said. When Goldstein herself died last year in a bicycle accident, Trump said, "I didn't send flowers."
Big banks are deepening their ties with
CAN Capital's chief executive, Daniel DeMeo, said he's in talks to expand that type of referral business partnership with other banks. "Every major bank is working on this," said John Barlow, an industry consultant.
Bank of America is handling the situation differently, however. Chairman Brian Moynihan has said B of A will not do any kind of online lending itself, as partnerships with startup online lenders could hurt its reputation.
Citigroup is taking the open-floorplan office concept to an extreme; perhaps it's the bank's way of fighting back against the work-from-home concept? As part of the renovation of its Tribeca office tower, Citi is
The open-floorplan is also expected to save money by cramming more bodies into one space and raise energy levels, and possibly raise stress levels, too. "You're going to be forced to bump into people," Corbat said.
Those uncomfortable encounters are actually intended to help spur personal contact among employees, he said. "I want people interacting around our business and ideas," he said.
New York Times
Blythe Masters has had trouble raising money from banks other than JPMorgan Chase for her
JPMorgan Chase has invested $7.5 million and Masters hopes to raise up to $45 million. Digital Asset's head of business development said the assertion that it's having trouble raising money is inaccurate.
Here's another punch to the gut for American Express. Mutual fund giant Fidelity Investments has
Last year, Amex's
Visa is a big investor in the effort to deliver Thin Mints to the world of electronic commerce. Visa and Dell have
"It's the perfect marriage between technology and a premier leadership program that teaches digital, social and money skills to girls," said Ellen Richey, vice chairwoman of risk and public policy at Visa.
Oh by the way, the Visa Checkout payments platform is used on the Girl Scouts site to process cookie sales. Both Visa and Dell are also assigning their employees to work volunteer hours at Girl Scout workshops, including one that taught website design.
Two former JPMorgan Chase bankers at a branch in Brooklyn have been
Barclays has been ordered to pay about
Elsewhere ...
Krebs on Security and Boing Boing: PayPal's security measures for keeping hackers out of your account is, let's just say,
All this in spite of the fact that Krebs used PayPal's two-factor authentication key fob and contacted PayPal (by telephone, for crying out loud) and was assured by PayPal that they would monitor his account for potential future hack jobs.
PayPal's authentication job didn't do much good, even though Krebs crafted a long and complicated password (a password that probably received an A-plus grade from the site's automatic password monitor). The hacker simply called PayPal's customer support line and was able to reset his password by giving them the last four digits of his Social Security number and the last four digits of an old credit card account.
Sadly, PayPal isn't the only financial institution (or utility or other service provider) that's lazy and behind the times when it comes to customer authentication and protecting customers' data from identity thieves, Krebs wrote on Dec. 28.
Bergen (N.J.) Record: It was a busy year in 2015 for bank deals. Gerald Lipkin, chairman and CEO of Valley National in Wayne, N.J.,