In the financial services case, the division executive insisted that the IT and business teams (ten people) spend a full day recalibrating the project.

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"Traditionally, you could not get small business financing from banks until you had two to five years of financials to present to them, " says Patrick Gannon, a senior vice president at Lending Club and a former executive at Wells Fargo's small business division.

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In recent weeks, Mr. Cue also promoted longtime iTunes business executive Robert Kondrk to vice president, other people close to the division said.

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Yet the Palm has lost a lot of talent of late the latest departure, the division's chief executive, Robin Abrams, joined an e-business start-up called Chemdex on July 6th.

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Godsell, then chief executive of Anglo's gold and uranium division, had worked to bring South African business leaders together with ANC officials in the waning days of apartheid.

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