CIBC's Enron Mess

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Canadian Imperial Bank of Commerce struck an enormous US$2.4 billion settlement with Enron investors, mere days after the retirement of outgoing CEO John Hunkin. To put that in perspective, the bank earned C$2.1 billion for the entire financial year 2004. Mr. Hunkin, it should be pointed out, earned a total direct compensation of $9 million during CIBC's previous financial year partly due to

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Last update: 08/04/2005

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CIBC's Enron Mess

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