Thu, May 17, 2012
LANGLADE COUNTY, WI (WTAQ) - Authorities in north central Wisconsin are investigating a police chase which ended in a crash that killed the offending driver ...
Wed, May 16, 2012
By Grant McCool
NEW YORK (Reuters) - JPMorgan Chase & Co
A spokesman for JPMorgan Chase declined to comment on the lawsuits, which were filed in U.S. District Court in Manhattan, days after Chief Executive Jamie Dimon's May 10 statement that a "failed hedging strategy" caused the massive loss over the last month.
"What the Company did not reveal was that those losses were the result of a marked shift in the company's allowable risk model, undisclosed to investors, and the similarly clandestine conversion of a unit within the company that was touted as providing a conservative risk-reduction function into a risky, short-term trading enterprise that exposed the company to large losses instead," said one of the complaints.
It was filed derivatively by California shareholder James Baker on behalf of JPMorgan Chase against Dimon, Chief Financial Officer Douglas Braunstein and board members.
The lawsuit charged the JPMorgan defendants with breach of fiduciary duty, waste of corporate assets and unjust enrichment.
A separate lawsuit was filed at the same time by shareholder Saratoga Advantage Trust financial services portfolio on behalf of owners of common stock.
It said Dimon and Braunstein made "materially false and misleading statements and omissions" on an April 13, 2012 earnings conference call with investors.
"Defendants misrepresented the losses and risk of loss to the company arising from massive bets on derivative contracts related to credit indexes reflecting interest rates on corporate bonds," the complaint said. "These derivative bets went horribly wrong, resulting in billions of dollars in lost capital for the company and billions more in lost market capitalization for JPMorgan shareholders."
The cases are James Baker, derivatively on behalf of JPMorgan Chase & Co v James Dimon, et al in U.S. District Court for the Southern District of New York, No. 12-3878 and Saratoga Advantage Trust v JPMorgan Chase & Co in the same court No. 12-3879.
(Reporting By Grant McCool; editing by Gerald E. McCormick and Jeffrey Benkoe)
Wed, May 09, 2012
MILWAUKEE (WTAQ) - Five men were arrested Wednesday morning after their mini-van was chased by authorities in Milwaukee, Racine, and Kenosha counties.
Kenosha County Sheriff ...
Fri, April 27, 2012
By Laurence Frost
BEIJING (Reuters) - Thousands of Chinese consumers already have the T-shirt. All Fiat-Chrysler boss Sergio Marchionne has to do now is sell ...
Sun, April 22, 2012
Though many members of the press had prepared several pointed questions for Joel McHale, Yvette Nicole Brown, and Jim Rash during Wednesday's NBC ...
Sat, April 21, 2012
Though many members of the press had prepared several pointed questions for Joel McHale, Yvette Nicole Brown, and Jim Rash during Wednesday's NBC ...
Fri, April 20, 2012
Though many members of the press had prepared several pointed questions for Joel McHale, Yvette Nicole Brown, and Jim Rash during Wednesday's NBC ...
Thu, April 19, 2012
Though many members of the press had prepared several pointed questions for Joel McHale, Yvette Nicole Brown, and Jim Rash during Wednesday's NBC ...
Sun, April 08, 2012
(Reuters) - The familiar sight of Arizona beating San Francisco continued in spectacular fashion on Sunday as the Diamondbacks overcame a six-run deficit to once ...
Thu, April 05, 2012
On March 31, Community fans experienced a communal panic attack when a story hit about series creator Dan Harmon's and star Chevy Chase ...
Thu, April 05, 2012
OSCEOLA, WI (WTAQ) - A driver is still on the loose, after leading authorities on a high-speed chase for 53 miles in northwest Wisconsin on ...
Wed, April 04, 2012
On March 31, Community fans experienced a communal panic attack when a story hit about series creator Dan Harmon's and star Chevy Chase ...
Wed, April 04, 2012
Last weekend, news broke that the actor behind Greendale Community College's most crotchety old student might be more like his character than we ...
Tue, April 03, 2012
Last weekend, news broke that the actor behind Greendale Community College's most crotchety old student might be more like his character than we ...
Tue, April 03, 2012
The Spies Like Us star and Dan Harmon were said to be locked in a bitter feud on and off the set ever since ...
Mon, April 02, 2012
Though it seems increasingly likely that Community will be renewed for a fourth season, fans should still prepare to say goodbye to one of ...
Sun, April 01, 2012
Though it seems increasingly likely that Community will be renewed for a fourth season, fans should still prepare to say goodbye to one of ...
Thu, March 22, 2012
Aykroyd broke the news on his Facebook.com page, revealing the two old pals are considering a new comedy.
He wrote, ""Cannot say too ...
Wed, March 21, 2012
Aykroyd broke the news on his Facebook.com page, revealing the two old pals are considering a new comedy.
He wrote, ""Cannot say too ...
Wed, March 21, 2012
Even though Dan Aykroyd has been the driving force behind the ill-conceived Ghostbusters 3, it's still good news whenever he announces a new ...
Fri, March 16, 2012
(Reuters) - Peyton Manning showed off his throwing strength for the Denver Broncos on Friday while the San Francisco 49ers emerged as a potential destination ...
Wed, March 14, 2012
The filmmakers want to bring Clark and Ellen Griswold back to the big screen for a sequel to the 1983 cult comedy.
Daley tells ...
Tue, March 13, 2012
The filmmakers want to bring Clark and Ellen Griswold back to the big screen for a sequel to the 1983 cult comedy.
Daley tells ...
Mon, March 05, 2012
GREEN BAY, WI (WTAQ) - An overnight high speed chase in Brown County leads to the arrest of one man.
Green Bay police say an ...
Tue, February 28, 2012
By Tim Kelly
TOKYO (Reuters) - Japanese electronics giant Panasonic Corp named the head of its loss-making TV business as its new president and pledged ...
Wed, February 08, 2012
By Mike Dolan
LONDON (Reuters) - If both the perma-bears and perma-bulls are wrong in their immovable convictions about the long-term global investment outlook, then ...
Thu, January 19, 2012
FLORENCE COUNTY, WI (WTAQ) - A suburban Chicago man is scheduled to enter pleas Monday to charges that he tailed a stripper and her occasional ...
Thu, January 12, 2012
FLORENCE COUNTY, WI (WTAQ) - A suburban Chicago man is accused of following a female stripper in his car for 65 miles in northern Wisconsin ...
Thu, January 12, 2012
NEW YORK (Reuters) - JPMorgan Chase & Co
Mandelbaum, 49 years-old and head of strategy and business development, "has decided to leave the firm to focus on entrepreneurial and other interests," Dimon said in a memo to employees.
"Jay has been an excellent partner of mine since 1992, and I will miss him tremendously," Dimon wrote. Mandelbaum may serve as a board member of companies in which the bank invests, Dimon said.
Dimon also said that Doug Petno, 46, has been promoted to chief executive of commercial banking and that Todd Maclin who was doing that job will now focus entirely on the consumer and business banking franchise.
In addition, John Hogan, 45, the chief risk officer of the investment bank, has been promoted to be chief risk officer for the entire company. Barry Zubrow, 58, who previously held the post, will take the new role of head of corporate and regulatory affairs.
Gordon Smith, the head of credit cards and auto lending, will now oversee three executives who previously reported to Mandelbaum and are responsible for corporate marketing, mobile and e-commerce, and the corporate internet group.
The bank is scheduled to report fourth-quarter earnings Friday.
(Reporting by David Henry; editing by Carol Bishopric)
Tue, December 27, 2011
GREEN BAY, WI (WTAQ) - Green Bay Police said a man was barefoot when he got into a crash while driving a stolen car, and ...
Mon, December 19, 2011
ROTHSCHILD, WI (WTAQ) - A 77-year-old Wausau area man who was killed at the end of a long police chase had Alzheimer’s disease. Relatives ...
Thu, December 15, 2011
By David Henry
NEW YORK (Reuters) - JPMorgan Chase & Co
Tue, November 15, 2011
GREEN BAY, WI (WTAQ)-A 25 year old De Pere man is facing some serious charges after leading Green Bay Police on a high ...
Tue, November 08, 2011
RUSK COUNTY, WI (WTAQ) - A northwest Wisconsin man has been sentenced to 10 years in prison for causing a hit-and-run traffic accident, hitting two ...
Mon, October 17, 2011
GREEN BAY, WI (WTAQ) - A hit and run driver leads Green Bay police on a high speed chase before crashing. Police say a 32-year-old ...
Tue, October 11, 2011
By Roy Strom
CHICAGO (Reuters) - Police arrested around 175 demonstrators at a nascent protest camp in a downtown Chicago park early on Sunday, hauling ...
Tue, October 04, 2011
By David Henry and Dan Wilchins
NEW YORK (Reuters) - Gordon Smith, credit card chief of JPMorgan Chase
Sat, October 01, 2011
By Steve Keating
MILWAUKEE (Reuters) - For years, the only September race that held any interest for Milwaukee Brewers fans was a sprint between the ...
Fri, September 30, 2011
OSHKOSH, WI (WTAQ) - An Appleton man who drove his car into Lake Winnebago, then swam away as police were chasing him learns his fate ...
Thu, September 22, 2011
KAUKAUNA, WI (WTAQ) - Police say a 15-year-old boy was drunk when he led officers on a high-speed chase in a stolen vehicle.
The chase ...
Wed, September 21, 2011
NEW YORK (Reuters) - The opener of a three-game series between the New York Yankees and Boston Red Sox was rained out on Friday and ...
Tue, August 30, 2011
His career resuscitated thanks to a choice role on NBC's Community, Chevy Chase is now plotting his return to the big screen. The ...
Mon, August 29, 2011
His career resuscitated thanks to a choice role on NBC's Community, Chevy Chase is now plotting his return to the big screen. The ...
Sun, August 28, 2011
His career resuscitated thanks to a choice role on NBC's Community, Chevy Chase is now plotting his return to the big screen. The ...
Sat, August 27, 2011
His career resuscitated thanks to a choice role on NBC's Community, Chevy Chase is now plotting his return to the big screen. The ...
Tue, August 16, 2011
SHAWANO, WI (WTAQ) - Law enforcement officials say the 14 year old driver of a minivan reached speeds of 90 miles per hour while leading ...
Fri, August 12, 2011
By Barton Lorimor
SPRINGFIELD, Ill (Reuters) - The phrase "naked gun" is no longer just a movie reference here in southwestern Illinois.
Officers responding to ...
Fri, July 29, 2011
By Ray Sanchez
NEW YORK (Reuters) - Wild boar are invading the farms of central New York state, attacking livestock, killing family pets, chasing people ...
Mon, July 25, 2011
By Robert Evans
GENEVA (Reuters) - U.S. scientists said on Wednesday they expect to establish by the end of September whether the "Higgs boson ...
Mon, July 18, 2011
By David Henry
NEW YORK (Reuters) - JPMorgan Chase & Co
In a sign of the bank's sensitivity to the issue of callousness to borrowers, it is re-christening its "Loss Mitigation" department as "Borrower Assistance," according to Frank Bisignano, JPMorgan's chief administrative officer who was assigned by Chief Executive Jamie Dimon in February to fix the bank's mortgage problems.
Bisignano sent a memo to bank employees on Monday announcing a reorganization of the bank's residential mortgage business under new executives. JPMorgan's mortgage problems, including allegations of abusive foreclosure practices, are the main reason the bank fell as much as $7 billion short of its profit potential last year, Chief Executive Jamie Dimon told shareholders earlier this year.
Bisignano said in an interview with Reuters that JPMorgan is shifting its foreclosure unit more aggressively toward offering affordable terms to delinquent borrowers to help both consumers and the bank.
"Modifying a loan is much more economical for the firm than foreclosing," he also noted in the memo to employees that was obtained by Reuters.
On another front, Bisignano is deploying risk-management experts from JPMorgan's investment bank to work through problem portfolios of mortgage loans and bank-owned real estate. The effort will be led by Craig Delany, who handled critical short-term funding of JPMorgan during the financial crisis.
Delany will report to Bisignano and to Matt Zames, co-head of global fixed income at the investment bank, according to the memo.
Dimon earlier this year said legal and other issues related to residential mortgages, including billions of dollars of warranty claims from investors in mortgage-backed securities, were the main reason it failed to last year to meet its profit potential of $22 billion to $24 billion.
The reorganization of the mortgage foreclosure area follows a plan that JPMorgan submitted last week, under an agreement with federal regulators, to revamp how it handles troubled mortgages. JPMorgan and other large banks have been the subject of investigations since last year of shoddy documentation and other practices in foreclosure procedures.
The new "Borrower Assistance" department will be headed by Pat Sheehy, who was praised in the memo for work on rebuilding businesses at the bank over the past five years. Sheehy, the bank said, has 27 years of mortgage banking experience, including a sales management post at Countrywide Financial. (Reporting by David Henry; Edited by Jed Horowitz and Richard Chang)
Mon, July 11, 2011
WAUSHARA COUNTY, WI (WTAQ) - Waushara County authorities get involved in a high-speed chase that ended up on a golf course.
Deputies get the call ...
Thu, July 07, 2011
GREEN BAY, WI (WTAQ) - A private investment arm of the JP Morgan Chase & Co. has acquired APAC Inc. Customer Services.
The company has an ...
Fri, July 01, 2011
TAMPA BAY (Reuters) - New York Yankees captain Derek Jeter is set to resume his pursuit of 3,000 hits when he returns from a ...
Thu, June 30, 2011
WRIGHTSTOWN, WI (WTAQ) - A Calumet County sheriff's deputy is being credited for potentially saving a suicidal woman's life as she tried to ...
Tue, June 14, 2011
NEW YORK (Reuters) - Derek Jeter's march toward 3,000 career hits suffered a setback when the New York Yankees shortstop left Monday's ...
Tue, June 07, 2011
By Tim Ghianni
NASHVILLE, Tenn (Reuters) - In what sheriff's deputies are calling an act of self-defense, two Tennessee homeowners ran their vehicle into ...
Sat, June 04, 2011
By Steve Keating
VANCOUVER (Reuters) - There are thousands of names engraved on the Stanley Cup but Jannik Hansen's would represent a first if ...
Tue, May 31, 2011
GREEN BAY, Wis. (WTAQ) - Authorities are still looking for a suspect that led police on a chase in two local counties overnight.
It began ...
Tue, May 31, 2011
GREEN BAY, Wis. (WTAQ) - Police in Green Bay arrest a Menominee woman after she allegedly led them on a high speed chase.
Authorities say ...
Mon, May 23, 2011
LA CROSSE COUNTY, Wis. (WTAQ) - Three men killed after their truck was chased by authorities in La Crosse County have been identified as 29-year-old ...
Tue, March 29, 2011
ALLOUEZ, Wis. (WTAQ) - One person was arrested after a chase through two counties Tuesday.
Manitowoc County sheriff’s say they were called to a ...
Sat, March 26, 2011
NEW YORK (Reuters) - Police shot dead a driver on a congested Bronx expressway on Saturday, after he crashed into several vehicles and tried to ...
Tue, February 22, 2011
GREEN BAY, Wis. (WTAQ) - A Green Bay man has been sentenced to 10-and-a-half years in prison for leading police on a 30-mile high speed ...
Thu, February 10, 2011
NEW YORK (Reuters) - A man posing as a taxi driver who led police on a high-speed chase out of John F. Kennedy International Airport ...
Wed, February 02, 2011
By Ari Rabinovitch
JERUSALEM (Reuters) - The pursuit of a gang of grave robbers has led to the discovery of an ancient church outside Jerusalem ...
Thu, January 27, 2011
By Grant McCool
NEW YORK (Reuters) - The new "Sheriff of Wall Street" is going after tax cheats, pension plan frauds and corrupt government contractors ...
Mon, January 24, 2011
OSHKOSH, Wis. (WTAQ) - A man accused of burglary and stealing a car last year had a not guilty plea entered on his behalf.
20-year-old ...
Mon, January 17, 2011
The Shining superstar is a well known-ladies' man, allegedly sleeping with thousands of women during his Hollywood career and having five kids with four ...
Thu, January 13, 2011
MONROE COUNTY, Wis. (WTAQ) - A Canadian truck driver has been found not guilty by insanity, after he was thought to have explosives during a ...
Mon, December 13, 2010
By Shilpa Jamkhandikar
MUMBAI (Reuters) - From "Spiderman" to "Mission Impossible," Bollywood actors are increasingly finding their way into mainstream Hollywood films.
As Hollywood brings ...
Mon, November 15, 2010
Carl Edwards snapped a 70-race winless streak in the Sprint Cup Series by taking Sunday's Kobalt Tools 500 at Phoenix International Raceway. Edwards ...
Mon, November 01, 2010
OSHKOSH, Wis. (WTAQ) - The man accused of leading police on a chase that ended when his car plunged into Lake Winnebago says he's ...
Sun, October 31, 2010
SHAWANO COUNTY, Wis. (WTAQ) - Sheriff's officials in Shawano County arrest a Suring man after he led them on a chase through the county ...
Tue, October 26, 2010
APPLETON, Wis. (WTAQ) - New charges have been filed against an Appleton man accused of driving into Lake Winnebago while being chased by police earlier ...
Wed, October 20, 2010
OSHKOSH, Wis. (WTAQ) - Prosecutors said an Appleton man who drove into Lake Winnebago to escape the police broke into a nearby house the next ...
Fri, October 08, 2010
WINNEBAGO COUNTY, Wis. (WTAQ) - The man officials say led them on a high speed chase throughout the Fox Valley is now charged.
19-year-old Andrew ...
Tue, October 05, 2010
WINNEBAGO COUNTY, Wis. (WTAQ) - The search is on for the suspect who led police on a chase through the Fox Valley, into Lake Winnebago ...
Tue, September 28, 2010
The couple ended their relationship in April (10) and the break-up turned nasty when the Russian singer accused her former partner of beating her ...
Fri, September 10, 2010
HILBERT, Wis. (WTAQ) - A Kimberly man is in custody following a police chase involving three counties.
Calumet County authorities say they tried to stop ...
Thu, September 09, 2010
GREEN BAY, Wis. (WTAQ) - The man who allegedly led Green Bay police on a high-speed chase from W. Mason St. all the way to ...
Tue, September 07, 2010
GREEN BAY, Wis. (WTAQ) - A high speed chase and cops throwing down spike strips brings an end to a pursuit that started in Green ...
Tue, September 07, 2010
BONDUEL, Wis. (WTAQ) – Shawano County sheriff’s deputies stopped a high-speed chase that began in Green Bay early this morning.
Police say it all ...
Mon, August 30, 2010
BROWN COUNTY, Wis. (WTAQ) - Officers with the Wisconsin State Patrol are looking for a man involved in a chase with a trooper.
It began ...
Thu, July 29, 2010
GREEN BAY, Wis. (WTAQ) - A Green Bay woman accused of leading police on a high-speed chase with her kids in the car has reached ...
Tue, July 13, 2010
MADISON, Wis. (WTAQ) - An investigation continues into the death of a man who shot himself at the end of a police chase. It happened ...
Mon, June 21, 2010
WASHINGTON (Reuters) - The Supreme Court said on Monday it would hear JPMorgan Chase & Co's appeal over a lawsuit that says the bank violated ...
Thu, June 03, 2010
MILWAUKEE, Wis. (WTAQ) - 4 people robbed a couple at a suburban Milwaukee motel, and then led police on a chase that ended in a ...
Tue, May 18, 2010
MONROE COUNTY, Wis. (WTAQ) - A $20,000 cash bond has been set for a Canadian truck driver accused of leading police on a long ...
Fri, May 14, 2010
SPARTA, Wis. (WTAQ) - No explosives were found after a semi-truck driver was chased down near Sparta, and a bomb-sniffing dog smelled something in the ...
Thu, May 06, 2010
GREENVILLE, Wis. (WTAQ) - A police pursuit in the Fox Valley ends with a crash. Authorities say it began around 10:30 p.m. Wednesday ...
Mon, May 03, 2010
RACINE, Wis. (WTAQ) - A man from Elko Nevada man is awaiting charges in Racine, after he allegedly stole a cab and led officers on ...
Mon, April 26, 2010
OAK CREEK, Wis. (WTAQ) - A suburban Milwaukee police officer shot and killed a suspect after he led police on a chase Monday morning. It ...
Mon, March 29, 2010
DUNN COUNTY, Wis. (WTAQ) - A Minnesota man is facing charges, for trying to flee a Wisconsin State trooper at speeds of over 130 miles ...
Wed, March 10, 2010
DANE COUNTY, Wis. (WTAQ) - A man was arrested Wednesday after he allegedly kidnapped a woman in McFarland, south of Madison, and drove her down ...
Thu, March 04, 2010
MENASHA, Wis. (WTAQ) - Fox Valley authorities were led on a half-hour, low-speed chase overnight, by a car that was reported to have a nude ...
Tue, December 15, 2009
GREEN BAY, Wis. (WTAQ) - Green Bay School board votes unanimously Monday night to go after a referendum to meet $18 million worth of expenses ...
Mon, November 23, 2009
MILWAUKEE (WRN) - Milwaukee police are still looking for a second man who was in a car that led them on a long chase Sunday ...
Thu, October 15, 2009
TOKYO (Reuters) - Japanese schoolboy Yusei Kikuchi will hold 'speed interviews' with Major League Baseball clubs as the race to sign the explosive left-hander heats ...
Recent Comments