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California Treasurer takes aim at Wells Fargo CEO’s pay raise; says bank’s in a ‘death spiral’

California Treasurer and gubernatorial candidate John Chiang isn’t mincing words when it comes to criticizing Wells Fargo CEO Tim Sloan’s $4.6 million pay raise last year.Sloan pocketed $17.6 million in 2017, up from $13 million in 2016, according to the Wells Fargo (NYSE: WFC) proxy statement released this week. Sloan did not get a cash bonus after recommending to the board that he not get one for 2017 “based on his ultimate responsibility, as CEO, for our company’s performance, which included significant but incomplete progress on...

California, Trump Administration on Collision Course Over Auto Rules

California Treasurer John Chiang said Tuesday that the state won’t back away from its commitment to reduce auto emissions.“With a president in the White House who ignores science and doesn’t believe in climate change, it’s no surprise that Administrator Pruitt would reject calls to push for bold and ambitious vehicle emission standards. Given what’s at stake, we need to double down on our commitment to fight climate change and improve air quality,” Chiang, a Democrat who is running to replace Jerry Brown as California governor, said in an email.Brown responded to...

The anti-Trump fight California wants

When the Trump administration declared war on California with a lawsuit challenging sanctuary state policies this week, it played right into the hands of Kevin de León -- and virtually every other Golden State Democrat running for higher office.There is nothing that de León, the state Senate leader who is challenging Sen. Dianne Feinstein, relishes more than a fight with President Donald Trump -- in this case, on a law that he authored making California a "sanctuary state.""They are angry and they're upset, because we won't participate with them tearing apart...

California Treasurer: It’s time for Wells Fargo CEO Tim Sloan to go

 California Treasurer and gubernatorial candidate John Chiang turned up the heat on Wells Fargo CEO Tim Sloan, calling for the long-time veteran of the bank to resign.Chiang sought Sloan’s resignation in a letter sent to the bank March 1 after Wells (NYSE: WFC) said four directors are retiring at this year's annual meeting in April.The retiring directors include three that Chiang had wanted off the board: Dignity Health CEO Lloyd Dean, Enrique Hernandez Jr., chairman and CEO of Inter-Con Security Systems, and Federico Pena, former U.S. energy secretary and former transportation secretary. Pena was scheduled to retire from the...