Jim Yong Kim Formally Selected to Head World Bank

By: Monday April 16, 2012 11:35 am

Form held today, as the US choice for President of the World Bank was formally adopted as the new leader. In a vote of member states, Dr. Jim Yong Kim won election to the Presidency, beating out his chief rival, Nigeria’s Ngozi Okonjo-Iweala, a former World Bank managing director. Dr. Kim, 52, will take over [...]

Developing Countries Urge Non-American for World Bank Presidency

By: Thursday March 22, 2012 11:35 am

The Obama Administration has until Friday to name a successor to Robert Zoellick on the World Bank. Since the end of World War II, the United States has held this selection privilege. And every time, they have selected an American for the position. This year, that has received some pushback. Other countries have forwarded their [...]

Emerging Markets Stymied At Getting IMF Managing Director Position

By: Friday May 20, 2011 7:05 am

The fight over the future of the IMF’s managing director is a proxy fight about the power and importance of emerging markets versus the old guard. The US could have boosted emerging markets and broken with the past, but as part of the established order, they stuck with it. The fund’s six-decade tradition calls for [...]

Corporations Disinterested in Investing in America

By: Tuesday February 8, 2011 12:19 pm

If you read President Obama’s speech to the Chamber of Commerce yesterday, you do see that he approaches them on his terms, with a call for them to basically support the agenda he’s put forward all along. He did stress that the benefits of a growing economy cannot aggregate at the top, with inequality rising. [...]

Obama Makes Nice with the Chamber of Commerce

By: Monday February 7, 2011 10:36 am

President Obama just wrapped up a lunchtime speech at the US Chamber of Commerce, and the effort at groveling and currying favor was probably laid on thicker than the butter on the bread rolls: President Obama on Monday pledged that his administration would be a strong partner with business in working to boost the American [...]

Corporations Using Cash Reserves for Mergers, Overseas Job Growth

By: Tuesday December 28, 2010 9:48 am

Earlier I mentioned that the financial crisis and Great Recession led to consolidation in the banking sector. That’s also true outside the banking sector. Over the past year, corporate mergers have returned with a vengeance, up 19%. While still below the heights of the bubble years, this tendency toward mergers and acquisitions has been the [...]

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