BusinessMoney Minute: Bank Execs, Yahoo and AdobeMoney Minute: Bank Execs, Yahoo and AdobeThe Associated PressWashington Mutual, hard-hit by the mortgage and credit crises, will replace Chief Executive Kerry Killinger as chairman of the board. AP's Mark Hamrick reports on that and the rest of Monday's business headlines. (June 2)AP Money MinuteWashington Mutual, hard-hit by the mortgage and credit crises, will replace Chief Executive Kerry Killinger as chairman of the board.Killinger will remain on the board and will hold his post as chief executive, even as the list of CEOs shown the door at the country's top banks continues to grow. Wachovia meanwhile said it had asked CEO Ken Thompson to step down, joining Merrill Lynch's Stanley O'Neal and Citigroup's Charles Prince among the ousted.------------------------A Delaware judge has unsealed documents containing new details about Yahoo's efforts to ward off Microsoft's unsolicited bid to buy the Internet pioneer.The documents detail an employee severance program that would have driven up Microsoft's expenses in a successful takeover by as much as $2.1 billion. Microsoft last month orally offered to raise its bid to $47.5 billion, or $33 a share, before withdrawing the bid in a disagreement over price.Yahoo shareholders filed the suit against Yahoo's board for resisting Microsoft's overtures.-----------------------------Adobe is launching a new version of its document sharing software Acrobat, and this time it can package videos.Acrobat 9 users can include Flash-based videos when they create and share documents with the portable document format, commonly known as PDF. Adobe also launched Acrobat.com, which will host Web-based software services to support document creation and sharing.I'm Mark Hamrick with AP Money Minute.(****END****)
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