Archive for January 10, 2012
January 10, 2012 | 
Author Fannie Mae CEO Michael Williams plans to resign, the government-controlled mortgage giant said Tuesday. Williams, who took over as president and CEO of the troubled company in 2009, will continue as CEO until Fannie Mae’s board names a successor. The firm did not provide a specific reason for Williams’ departure; in a statement, Williams said only that he had decided that “the time is right to turn over the reins to a new leader.” Williams will leave behind a firm still struggling to get its finances in order. In November, Fannie Mae reported a net third-quarter loss of $5.1 billion. The loss forced the firm to ask for another $7.8 billion in funding from the Treasury Department, a request that took its bailout total to $112.6 billion. Federal regulators put Fannie Mae and fellow government-sponsored enterprise Freddie Mac into conservatorship during the financial meltdown in September 2008. The sister companies now depend on government help to cover losses on the mortgages they own or guarantee. In October, Freddie Mac CEO Ed Haldeman also announced plans to step down at some point this year. Williams and Haldeman have faced scrutiny in recent months for their hefty paychecks, granted even as their firms rely on taxpayer support. The targets for their 2011 pay, which will include deferred compensation, are set at about $6 million a piece. In December, the Securities and Exchange Commission charged six former executives of Fannie Mae and Freddie Mac, including former Fannie CEO Daniel Mudd and former Freddie chief Richard Syron with securities fraud. The SEC alleges that the executives misrepresented the firms’ holdings of high-risk mortgage loans ahead of the financial crisis.
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When it comes to TVs — often the flashiest, most buzzed-about gadgets at the International Consumer Electronics Show — it takes several years for reality to catch up to the hype.
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Orange juice futures surged Tuesday amid fears the U.S. government could ban Brazilian oranges after low levels of fungicide were detected by a juice company.
Ben Bernanke is about to hand Timothy Geithner a very large check.
The American National Standards Institute and the Interstate Renewable Energy Council invite certificate-awarding entities that develop and administer energy efficiency and renewable energy programs to apply for participation in a pilot accreditation program.
The American National Standards Institute (ANSI), coordinator of the U.S. voluntary standardization system, and the Interstate Renewable Energy Council (IREC) invite certificate-awarding entities that develop and administer energy efficiency and renewable energy programs to apply for participation in a pilot accreditation program. Successful participants will be awarded accreditation under a program designed to provide quality assurance to the programs.
Despite the antics, solar is growing up!
Smart Energy Portal has certainly ran enough articles on solar over the last few months and the editorial section, Insights, has had plenty of grist for its mill. Here are a few, if you missed them :
Google search is about to get way more personal.
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Going public hasn’t stopped Groupon from instituting its out of the box marketing campaigns. Check out Groupon’s newest feature and you’ll find yourself staring into the big brown eyes of Clicky, the Clickable Value-Wheel.
The $64,000 question facing the global economy this year should be more accurately dubbed the 404,163 yuan question: Can China avoid a big slowdown in growth in 2012?
Investors set aside their worries about Europe Tuesday after comments from credit ratings agency Fitch raised hopes for an end to the eurozone debt crisis late in the year.
