Newsgroup: it.politica.internazionale
Titolo: S&P sega il presidente

Puo darsi che nella sostanza il downgrade avesse un senso. Il come e
l'argomentazione, con i grossolani errori di calcolo, sono stati una
colossale ed epocale figura di merda. Quasi ipiana.
Adesso il presidente di S&P "cercherà altre opportunità"
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S&P President Sharma to Leave, Replaced by Citi’s Peterson
Aug. 23 (Bloomberg) -- Standard & Poor’s, the ratings company that
downgraded the U.S. AAA credit ranking for the first time, will replace
President Deven Sharma with Citibank NA Chief Operating Officer Douglas
Peterson.
Sharma, 55, will leave at the end of the year to “pursue other
opportunities,” S&P’s parent McGraw-Hill Cos. said in an e-mailed
statement. Peterson, 53, will take over Sept. 12 and Sharma will work on
the company’s strategic review.
S&P’s Aug. 5 decision to reduce the U.S. credit rating to AA+ roiled global
markets and boosted demand for Treasuries, sending the yield on the 10-year
note, the benchmark for home mortgages and car loans, to a record low 2.03
percent. The New York-based company, which was blamed in an April Senate
report for helping fuel the credit crisis, was criticized by the world’s
most successful investor, Warren Buffett, who said the U.S. should be
“quadruple-A.” The cut conflicted with Moody’s Investors Service and Fitch
Ratings, which kept AAA grades.
“It looks like he’s being helped out the door,” Noel Hebert, a credit
strategist at Mitsubishi UFJ Securities USA Inc. in New York, said in a
phone interview. “If it was a planned retirement, it should have been
handled in a different way.”
Peterson, Sharma
Peterson was approached by McGraw-Hill in March, a person with direct
knowledge of the talks said. He was chief executive officer of Citigroup
Japan from 2004 to 2010 and was hired by the New York-based investment bank
out of business school 26 years ago, according to an internal memo
outlining his departure, whose contents were confirmed by Shannon Bell, a
Citigroup spokeswoman in New York.
Peterson, who has an undergraduate degree in mathematics and history from
Claremont McKenna College and a MBA from the Wharton School at the
University of Pennsylvania, began his career in Argentina as a corporate
banker and became Citigroup’s country manager in Costa Rica and then
Uruguay, according to the memo.
Sharma, who joined S&P in 2007 as the global credit crisis was unfolding,
will exit as McGraw-Hill faces mounting pressure from some of its
shareholders to separate into four units. Jana Partners LLC and Ontario
Teachers’ Pension Plan, which together own a 5.2 percent stake, presented a
plan Aug. 22 to split the group, saying it has “consistently underperformed
its potential” and is trading at “a sizable discount.”
Company Split
Since Aug. 5, the day of the downgrade, McGraw-Hill’s shares have lost 11
percent compared with a decrease of 6.3 percent for the S&P 500 Index,
according to data compiled by Bloomberg. McGraw-Hill’s stock rose 0.1
percent to $37.04 yesterday.
Chief Executive Officer Terry McGraw said last month the company is
conducting a strategic portfolio review after announcing in June plans to
sell its broadcasting group. Sharma will work on the review until December.
In November, S&P was divided between McGraw-Hill Financial and the credit
rating service. After the split, Sharma is “ready for new challenges,”
according to the statement.
Sharma holds a bachelor’s degree from the Birla Institute of Technology in
India, a master’s degree from the University of Wisconsin and a doctoral
degree in business management from Ohio State University. He joined
McGraw-Hill in January 2002 from consultants Booz Allen Hamilton, where he
was a partner.
He was appointed president in August 2007, one month after S&P started
lowering its ratings for hundreds of mortgage-backed securities,
acknowledging that notes it originally deemed safe were now worth little.
S&P’s revenue grew 10.4 percent to $1.7 billion in 2010, from $1.54 billion
a year earlier, Bloomberg data show.
“Since Sharma came in, he has done little to enhance the credibility or
reputation of the ratings agency,” Joshua Rosner, an analyst at the New
York-based research firm Graham Fisher & Co., said by phone. “Given the
recent downgrades, it appears their operational management and ratings
modeling have not been meaningfully strengthened.”
To contact the reporters on this story: Katrina Nicholas in Singapore on
knich...@bloomberg.net
 John Detrixhe in New York at
jdetr...@bloomberg.net
 .
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recoil is insignificant when there is a tiger on the head of your elephant

 Adesso il presidente di S&P "cercherà altre opportunità"
Potrebbe cimentarsi in una gara di sagacia con stalinist dandy, secondo me.


ROTFL
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Io non gufo l'Inter. Le spacco le corna.