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BUSINESS
January 9, 2005
Regarding "Cash Registers Jingle to Wall St. Bonuses," Dec. 22: And we are planning to let these people handle our Social Security? David R. Clarke Rancho Mirage
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BUSINESS
April 24, 2014 | By Jim Puzzanghera
WASHINGTON - It's not difficult to get a bonus if you work for the Internal Revenue Service - even if you haven't paid your own taxes. The IRS handed out a total of nearly $1.1 million in bonuses in a 27-month period to more than 1,146 employees who had been disciplined for failing to pay taxes, according to an inspector general's report. "This is outrageous," said Rep. Sam Johnson (R-Texas). "The IRS is essentially telling its employees: Break the law and we will reward you. " The employees were among more than 2,800 at the agency who received performance awards within one year of disciplinary action, such as suspensions or written reprimands for drug use, filing fraudulent time sheets or other misconduct, the report found.
BUSINESS
November 20, 2007 | From Times Wire Services
Calpine Corp. plans to pay Chief Executive Robert May a $10.9-million stock bonus when it emerges from Chapter 11 Bankruptcy Court protection. The San Jose-based company also plans to pay about $66.6 million in emergence bonuses to about 2,200 eligible participants, including all full-time workers, the company said.
BUSINESS
November 30, 2012 | By Tiffany Hsu, Los Angeles Times
Hostess Brands Inc., in the midst of winding down its business, won approval Thursday from a federal bankruptcy judge to give as much as $1.75 million in bonuses to its executives. The money is intended as an incentive for 19 top-level managers to remain with the Twinkies and Ding Dongs maker to oversee its liquidation. The payouts will be granted only if managers "achieve a set of specific tasks and goals within a specified time frame that are designed to speed and lower the cost of the wind-down," Hostess spokesman Lance Ignon said.
NEWS
December 10, 2000 | From Times Wire Reports
Ho! Ho! Ho! Merry bonus! Salaried employees at Universal Instruments Corp. in Binghamton were given bonuses equal to three months' pay, and hourly workers got bonuses of about 15%, somewhat less because they get overtime pay. The bonus payment--$11.6 million to 1,550 employees nationwide, most of them in New York state--was a record for the company, reflecting a year of huge demand on the maker of automation equipment for the electronics industry.
BUSINESS
January 26, 2008 | From Times Staff and Wire Reports
KB Home Chief Executive Jeffrey T. Mezger has been awarded a $6-million bonus for his job performance in fiscal 2007, the company said in a filing at the Securities and Exchange Commission. The Los Angeles home builder also designated bonuses ranging from $350,000 to $450,000 for three other senior executives. KB Home has been battered by the U.S. housing slump. It lost $929.4 million for its fiscal year ended Nov. 30, and sales fell 32% to $6.4 billion.
BUSINESS
October 7, 1997 | From Bloomberg News
America Online Inc. cut bonuses in half for some senior executives and didn't give Chairman Steve Case any extra pay because the No. 1 online service didn't meet its earnings objectives for the year, according to a federal filing. The Dulles, Va.-based company said in a proxy filed with the Securities and Exchange Commission that it cut the bonus awards by 50% because it missed performance goals for fiscal 1997 amid restructuring charges and a change in how it accounts for marketing expenses.
BUSINESS
August 10, 2001 | Reuters
Nike Inc., the world's top maker of athletic shoes and apparel, cut in half the annual bonus of Chairman Philip Knight as the firm's stock price slipped and rival Reebok International Ltd. picked up market share during the last year. Knight, 63, received a $663,000 bonus for the fiscal year, compared with $1.33 million in 2000, according to a Securities and Exchange Commission filing. The bonuses of other top executives at Nike also were cut, according to the filing. Beaverton, Ore.
BUSINESS
March 28, 2001 | Edmund Sanders
AOL Time Warner Chief Executive Gerald M. Levin was paid a $10-million bonus last year, largely for successfully pulling off the company's $95-billion merger, according to financial statements filed Tuesday. The bonus, up 11% from the previous year, was on top of Levin's $1-million base salary. AOL Time Warner Chairman Stephen M. Case got a $1.1-million bonus on top of his $725,000 salary.
CALIFORNIA | LOCAL
May 22, 2011 | By Gretchen Meier, Los Angeles Times
A Los Angeles County Superior Court judge has ordered the city of Burbank to release data on bonuses paid to individual employees, saying the taxpayers' right to know exceeded any workplace privacy concerns. Superior Court Judge Ann I. Jones ruled Friday in a lawsuit filed by the Burbank Leader after city officials refused to make individual bonuses public. Jones cited legal precedent, telling the parties that previous court rulings "basically said, 'Man up, public employees.
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