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July 3, 2012
Barclays' Bob Diamond resigns, tainted in scandal; was responsible for arena naming rights deal; will MTA feel chagrin about selling subway station naming rights?
Atlantic Yards Report
Another crooked Atlantic Yards player bites the dust.
The executive responsible for the Barclays Center naming rights deal--rights that New York State gave to developer Forest City Ratner--has resigned in the wake of a scandal. And that puts an asterisk on the first subway station naming rights ever sold by the Metropolitan Transportation Authority.
From MSNBC:
LONDON - Bob Diamond, the chief executive of Barclays, resigned early Tuesday over the lending rate-rigging scandal that last week saw the bank fined a record amount by U.S. and U.K. regulators.
The move deepens the latest crisis to hit the financial services industry, with observers suggesting investigations into the manipulation of inter-bank lending rates could soon implicate banks in the United States.
Diamond’s resignation comes a day after the company’s chairman Marcus Agius announced his own departure. Despite also being implicated in the issue, Agius will stay on to lead the search for a replacement chief executive, according a statement early Tuesday.
NoLandGrab: Sign a petition asking the MTA to cancel the "Atlantic Av.-Barclays Center" naming-rights deal.
Posted by eric at July 3, 2012 2:17 PM