March 25, 2011 marks the hundred year anniversary of the Triangle Shirtwaist Factory fire. One hundred forty-six workers perished in a blaze that engulfed the ten story Asch Building in lower Manhattan. Most were young seamstresses who worked six days a week for a pittance. The tragedy unfolded blocks from where, ninety years later, the twin towers [...]
This week’s BusinessWeek reports on changes in risk management within financial institutions in the wake of the subprime meltdown and Societe Generale rogue trader fiasco. Merrill’s new CEO, John Thaine, has created two new high-level risk manager positions reporting directly to him—and he is going to meet with them weekly. Morgan Stanley has appointed a [...]