A Chairman Is Appointed to Rebuild Sallie Mae
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The beleaguered student lending giant appointed a longtime banking executive as chairman as it struggles with tighter credit markets and a failed buyout.
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The chairman's rent calls into question his ability to build a great company.
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SLM Corp. , better known as Sallie Mae, said on Thursday it restated nearly three years of financial statements because of several errors in its statement of cash flows.
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Mutual funds are moving to comply with a new rule that requires them to have independent chairmen starting in 2006, despite a growing challenge to the rule.
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A former university head is chosen to look after widening student access to higher education in England.
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Sallie Mae, the Reston student loan company, said yesterday that it would try to raise $2.5 billion by issuing new stock and use the proceeds to help it satisfy a standing agreement to repurchase its shares.
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Capital One Financial, the largest independent U.S. credit-card issuer, promoted Lynn Pike to head its banking business, replacing former North Fork Bancorporation chief executive John Kanas as part of a management reshuffle.
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The court-appointed trustee overseeing Hawaiian Airlines&#39; bankruptcy has joined the carrier&#39;s parent company in submitting a reorganization plan which would pay creditors in full.
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A senior business figure is appointed to improve the running of MI6 in response to last year's Butler report.
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The ouster of Franklin D. Raines as chairman and chief executive of Fannie Mae, the mortgage finance giant, might provide an opening for long-time critics to impose
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The bond insurer replaced its chief executive with its retired chairman, Joseph W. Brown Jr., who said he would consider splitting up the companyâs insurance business to restore confidence.
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Despite the return of its founder, improvement will take time.
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The Christian Science Board of Directors has elected a new chairman and a new director.
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One of the government's chief internal watchdogs resigned yesterday, as Comptroller General David M. Walker, an outspoken gadfly and frequent witness on Capitol Hill, announced his plans to lead a new foundation focused on U.S. fiscal responsibility.
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The Democratic chairman of the House  of Representatives Education Committee on Tuesday introduced a  bill to slash subsidies to student loan firms such as Sallie  Mae and boost student grants.
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The beleaguered student lending giant appointed a longtime banking executive, Anthony P. Terracciano, as its new chairman, as it continues to struggle with tighter credit markets and the wreckage from its failed buyout.
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Congressional investigators are looking into Sallie Mae Chairman Albert L. Lord's sale of $18.3 million worth of company stock this month, just days before President Bush proposed a huge cut in subsidies to the lending industry that caused Sallie Mae shares to nosedive.