Sen. Harry Reid confirms he will bring a public option to the Senate floor that states can opt out of. (NYT)
Today, the Senate Environment and Public Works Committee will kick off a three-day series of hearings as a precursor to a climate change bill. (Reuters)
AOL names a new board of directors to be effective after its break with Time Warner. The new board includes former FCC Chairman Michael Powell and banker William Hambrecht. (WSJ)
Former AIG Chief Maurice Greenberg is slowly culling employees for his latest venture, C.V. Starr and Company. (NYT)
UBS has hired Robert McCann, a former Merrill Lynch executive, to head its Wealth Management Americas division. (Bloomberg)