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February 11, 2013
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Daily newsletter from NYSSA for investment professionals

  Top Story 
How to Motivate Employees
Learn which employee incentives work best from research from Kellogg School of Management faculty. Learn more.
  Industry Update 
  • SEC-Citi settlement case goes before appeals court
    A push by the Securities and Exchange Commission and Citigroup for reinstatement of a mortgage-bond settlement that was rejected by a federal judge in 2011 went before an appeals court last week, with hints from judges toward calling for a new settlement. The original case relates to Citi allegedly not revealing conflicts of interest while selling a mortgage-bond product. Reuters (2/8), The Wall Street Journal/Law Blog (2/8) LinkedInFacebookTwitterEmail this Story
  • Commentary: Large ratings agencies remain entrenched
    Many financial-market observers are probably taking a better-late-than-never attitude toward the Justice Department's lawsuit against Standard & Poor's over its ratings leading up to the global financial crisis, Gretchen Morgenson writes. "Given that the financial crisis began unfolding more than five years ago, it is discouraging to see how entrenched the large and established ratings companies remain," Morgenson writes. The New York Times (tiered subscription model) (2/9) LinkedInFacebookTwitterEmail this Story
  New York Focus 
  Career Development 
  • How a stint in India helps execs reach the next level
    Indian consumers demand quality, long-lasting products at low prices, says Michael Boneham, former president of Ford India. That makes the subcontinent a challenging environment for Western executives, but also one that can make them better leaders and strategists. "If you are successful in the Indian market, you can be successful anywhere in the world," Boneham says. Knowledge@Wharton (2/7) LinkedInFacebookTwitterEmail this Story
  People & Personalities 
  • Bonus, federal deficit are seen as likely questions for Lew
    Jack Lew received a bonus of nearly $1 million while at Citibank, just before the bank got a federal bailout. The bonus and his attitude toward the U.S. budget deficit are expected to be topics during a confirmation hearing that starts Wednesday. Reuters (2/10) LinkedInFacebookTwitterEmail this Story
  On The Economy 
  • Trade data indicate Q4 growth in U.S.
    A Commerce Department announcement that the U.S. trade deficit in December sank to its lowest point in three years likely means that gross domestic product rose slightly in the fourth quarter. The government recently announced that it had estimated a 0.1% drop in GDP. "Trade data for December paint a reassuring and encouraging picture of the U.S. economy at the end of last year," said Chris Williamson, Markit Group's chief economist. Reuters (2/8) LinkedInFacebookTwitterEmail this Story
  Financial Products 
The only man I know who behaves sensibly is my tailor; he takes my measurements anew each time he sees me. ... The rest go on with their old measurements and expect me to fit them."
--George Bernard Shaw,
Irish playwright

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