Strong market for subprime bonds
The market for securities backed by subprime mortgages has roared back from its 2008 collapse. Subprime bonds not backed by Fannie Mae or Freddie Mac currently yield 5 to 7 percent, well above the 3.5 percent yields available on U.S. government bonds.
The Wall Street Journal
Indian companies abuse visa program
Outsourcing companies from India are abusing a U.S. visa program intended to allow companies to bolster their U.S. workforces with highly skilled foreign workers, immigration experts say. Companies such as Infosys and Wipro are importing workers with ordinary skills under the H-1B visa program and using them to replace higher-paid Americans.
The New York Times
Transocean executives receive bonus for safety record
Transocean Ltd., the owner of the Deepwater Horizon drilling rig that exploded last spring, killing 11 workers and unleashing the worst offshore oil spill in U.S. history, has awarded its top executives big bonuses for making 2010 its “best year” ever for safety. After disclosing the bonuses, Transocean, which leased the rig to BP and helped supervise the drilling, acknowledged that the reference to its best safety year might appear “insensitive” to some.
A good year for CEO paychecks
Median pay for CEOs of large U.S. corporations rose 27 percent in 2010, according to federal data. Three quarters of CEOs received raises in 2010, to a median salary of $9 million, including $2.2 million in bonuses. Pay increases for all workers in private industry averaged 2.1 percent in 2010.