Activists pressure Wells Fargo before shareholders meet

Activist shareholders of Wells Fargo on Monday demanded the besieged financial behemoth fully investigate the “systemic failures” that nurtured a culture of high-pressure sales tactics and unleashed a scandal over bogus bank accounts.

The demands came a day before Wells Fargo’s annual shareholders meeting, during shareholders are expected to pepper bank chief executive officer Timothy Sloan with questions and comments about the debacle over checking and credit accounts. Members of Interfaith Center on Corporate Responsibility said Monday that they were unhappy with the supervision of Wells Fargo by the bank’s board.

“Board members are elected by shareholders to be our watchdogs and our eyes and ears inside the compay to ensure our capital is being managed in a responsible manner,” said Seth Magaziner, general treasurer for the State of Rhode Island and a co-filer of the resolution from the shareholder activitists. “Clearly the board was not being responsible at the time the scandal was unfolding.”

Wells has been fined $185 million because employees opened up to 2.1 million accounts without the permission of customers. Ever since the scandal surfaced in September, Wells Fargo has endured harsh criticism, pressure or punishment by regulators, shareholders, customers, politicians and prosecutors.

“Shareholders believe a full accounting of the systemic failures allowing these unethical practices to flourish are critical to rebuilding credibility with all stakeholders and will strengthen risk management systems going forward,” the activist shareholders said in a statement supporting the resolution.

The resolution demands that the Wells Fargo board orders a comprehensive report regarding the root causes of the fraudulent activity and the steps taken to improve risk management and control processes. The report would be made available to shareholders by October of this year, if the resolution is approved shareholders of the bank. It would go beyond a recently disclosed internal investigation into the scandal by the …read more

Source:: The Mercury News

Introducing Bay Area Sports Insiders

The Mercury News and East Bay Times announce the launch of Bay Area Sports Insiders, a new multi-platform program diving into the hottest issues impacting local pro and college teams. Premiering Tuesday, April 25 at 1:30 p.m. on www.mercurynews.com and www.eastbaytimes.com, the show will be hosted by Courtney Cronin and include an all-star lineup of experts on the 49ers, Raiders, Warriors, Giants, A’s and everything in between. Bay Area Sports Insiders will take viewers beyond the headlines with in-depth analysis, debate and feature content not found anywhere else.

With the 2017 NFL Draft just days away, Cronin will be joined by our Raiders and 49ers experts on the show’s premiere to evaluate where both teams stand ahead of Thursday’s first round. Jimmy Durkin and Jerry McDonald will discuss where the Raiders could expect to fill several holes on the roster while Cam Inman will dish on the latest expectations for the 49ers with the No. 2 overall pick. Longtime sports columnists Tim Kawakami and Mark Purdy will discuss offseason headlines for the Vegas-bound Raiders and the new 49ers regime in Santa Clara.

Bay Area Sports Insiders will also offer viewers the opportunity to interact with our experts by submitting questions via Twitter and Facebook to be answered live during the show.

“Our guys have been carrying other TV shows for years,” said Bay Area News Group executive sports editor Bud Geracie. “It’s time we brought their talent and personality to our own stage. See ’em here first!”

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Source:: The Mercury News

Russell Westbrook Calls Out Laughing Rockets Players

Andre Roberson missed 10 of his 12 free-throw attempts in Sunday’s 113-109 Game 4 loss, prompting the Rockets’ bench to howl with laughter.

Roberson was particularly emotional postgame. Didn’t wanna talk about the hacking. Wasn’t angry with the questions, just seemed sad.

— Fred Katz (@FredKatz) April 23, 2017

Russell Westbrook says he didn’t catch a glimpse of the mockery, but he was not amused by the idea of “guys that don’t play” making fun of his Thunder teammate.

Westbrook on the Rockets’ bench laughing at Roberson as he missed free throws: pic.twitter.com/lan4oQ7f1s

— Royce Young (@royceyoung) April 24, 2017

Houston holds a 3-1 series lead and will host OKC for Game 5 Tuesday night.

Per the Norman Transcript:

It was yet another game the Thunder let slip away, another one that they controlled a double-digit lead in the third quarter, another one they couldn’t close.

“We were a team that somebody came back on 3-1 against us,” small forward Andre Roberson said, referencing Golden State’s 2016 Western Conference Finals comeback. “Why can’t we be the person to come back?”

“Nothing’s really changed in the games we’ve been playing,” power forward Taj Gibson said. “We jump out on them. We’re pushing the pace. We always have a nice lead, about 10-point lead, 13-point lead. And then our momentum kinda drops.”

The post Russell Westbrook Calls Out Laughing Rockets Players appeared first on SLAMonline.

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Source:: SLAMonline