Rajat Gupta was one of the wealthiest and most successful men in America and an icon of the Indian-American community. Today, he faces two years in prison for insider trading, convicted of passing corporate secrets to his billionaire friend and Galleon Group founder Raj Rajaratnam.
Gupta was already a wealthy man; what was the motive for his crime? In The Billionaire's Apprentice:The Rise of the Indian-American Elite and the Fall of the Galleon Hedge Fund, journalist Anita Raghavan tries to answer that question.
JPMorgan Chase holds its annual shareholder meeting today in Tampa, Florida, and the shareholders will vote on a key measure: a proposal to strip the CEO, Jamie Dimon, of his other title, chairman of the board. A growing number of companies have split the CEO and chairman roles.
Shareholder activists and corporate governance experts say having a balance of power at the top helps to reduce risk. The bank and its supporters disagree. NPR's Yuki Noguchi reports.
Billionaire investment legend Warren Buffett's Berkshire Hathaway Inc. has had its credit rating lowered from AA+ to AA by Standard & Poor's Ratings Services.
In a statement, S&P says that even though Berkshire Hathaway has an "excellent business profile," the lower credit rating "better reflects our view of BRK's dependence on its core insurance operations for most of its dividend income." (S&P's statement is posted on its website, but you have to register to view it.)