Spilker, 45, will turn over responsibilities at the end of February to Edward Forst, who rejoined the most profitable securities firm in Wall Street history in September from Harvard University, according to internal memorandums yesterday from Chief Executive Officer Lloyd Blankfein and President Gary Cohn. The departing executive was on the firms management committee, whose members got year-end bonuses for 2009 in stock they cant sell for five years instead of cash.
Spilkers exit is the latest of a series of changes atop investment management, which accounts - - - - >

It was January 2004, and the attorneys were negotiating in a conference room on the ninth floor of the federal courthouse in Boston, where Loucks was head of the health-care fraud unit of the U.S. Attorneys Office. One of Pfizers units had been pushing doctors to prescribe an epilepsy drug called Neurontin for uses the Food and Drug Administration had never approved.
In the agreement the lawyers eventually hammered out, the Pfizer unit, Warner-Lambert, pleaded guilty to two felony counts of marketing a drug for unapproved uses. - - - - >

Picowers wife, Barbara, on Sunday discovered the 67-year-olds body at the bottom of the pool at their oceanside mansion and pulled him from the water with help from a housekeeper, authorities said. He was pronounced dead at Good Samaritan Medical Center at about 1:30 p.m. Palm Beach police are investigating the death as a drowning, but have not ruled out anything on the cause of death.
Picower had been accused by jilted investors of being the biggest beneficiary of Madoffs schemes. In a lawsuit to recover Madoffs assets, trustee Irving Picard demanded Picower return more than $7 billion in bogus profits. - - - - >

Temasek will target financial institutions that benefit from economic growth or mergers and acquisitions, Ho Ching, chief executive officer of the $122 billion company, said yesterday. The worst of the global meltdown has passed, she said.
“We look at some of these financial institutions as proxies for the economy as a whole,” Ho said. Temasek will also look at companies “where they may be doing a transformational deal, or where they themselves might be in transformation or at an inflexion point.”
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Private equity funds have been targets of criticism for their risk-taking and outsized pay for managers. But the depth of the banking crisis appears to have softened the Federal Deposit Insurance Corp.s resistance to private investors buying failed banks. In part, thats because fewer healthy banks are now willing to acquire other, ailing institutions.
In July, when bondholders rescued commercial lender CIT Group Inc., it marked the first time since the crisis erupted last fall that private investors had saved a big financial firm without federal aid or oversight.
Rising loan defaults, fed by tumbling home prices and worsening unemployment, have hammered - - - - >

Treasury countered by noting that banks, including JPMorgan Chase & Co., think the departments asking prices are too high. Unable to agree on a price, some institutions are letting the department sell the warrants in public auctions.
While risky for both sides, the auctions give Treasury political cover amid growing criticism that its policies are too easy on big banks.
The shortfall estimated by the Congressional Oversight Panel concerns warrants, financial instruments that allow Treasury to buy shares of the firms at a set price in 10 years. If the stock prices of the banks go up, as they are expected to - - - - >

McLaughlin, who was Googles first public policy executive, built Googles presence in Washington, helping promote the Mountain View, California-based companys position on topics such as online privacy, so-called net neutrality and copyrights.
McLaughlins departure highlights the connections between Google, the most popular Internet search engine, and the Obama administration. Google Chief Executive Officer Eric Schmidt is part of the presidents council of advisers on science and technology. Schmidt also campaigned for the governments economic stimulus package, which was passed earlier this year.
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The rules cover physicians and researchers at Boston-based Partners HealthCare, a non-profit group that runs the teaching centers. The guidelines stop doctors at the Boston hospitals from getting free lunches or drug samples individually. They also end participation in company-sponsored speakers bureaus, said James Mongan, the groups president, in a statement.
Massachusetts General is investigating a research center run by Joseph Biederman, a Harvard child psychiatrist who has been criticized by Iowa Republican Senator Charles Grassley for taking funding from Johnson & Johnson, maker of the antipsychotic - - - - >

Harvard, the worlds richest school, planned to spend $1 billion yearly for three to four years to upgrade its campus in Cambridge, Massachusetts, and expand across the Charles River in Boston, according to a Moodys Investors Service report. The school now may trim as much as $500 million a year from its plans to help it weather the recession, the report said.
John Longbrake, a university spokesman, confirmed the information in the Moodys report in an e-mail. He said Harvard President Drew Faust earlier suggested capital projects - - - - >