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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.
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CALIFORNIA | LOCAL
August 30, 1991 | BILL BOYARSKY
Gloria Molina began slicing up Los Angeles County Administrative Officer Richard Dixon at Tuesday's supervisorial meeting about an hour before lunch. At first, the newest Los Angeles County supervisor used her knife on the veteran chief fiscal officer in a deceptively slow manner, poking around, deciding where to cut, as if she were preparing to carve the Thanksgiving turkey.
CALIFORNIA | LOCAL
August 28, 1991 | RICHARD SIMON, TIMES STAFF WRITER
Embarrassed by disclosures that financially strapped Los Angeles County paid $3 million in employee bonuses last year, the Board of Supervisors on Tuesday moved to suspend the controversial pay program. The decision came after Supervisor Gloria Molina delivered an unusual public scolding of Chief Administrative Officer Richard B. Dixon for failing to inform her of the "generous" bonus program when supervisors were forced to cut services because of budget problems last month.
BUSINESS
January 10, 1998 | Washington Post
The Securities and Exchange Commission, which is losing experienced lawyers and accountants to high-paying private-sector jobs, has proposed offering some of its most essential employees "retention allowances" of as much as $25,000 to entice them to stay a while longer. The SEC would like to start awarding these bonuses based on a modest scale of about 10% to 20% of total salary. An experienced trial lawyer, for example, can make a salary of $99,000 a year.
CALIFORNIA | LOCAL
October 30, 2001 | MARTHA GROVES and DUKE HELFAND, TIMES EDUCATION WRITERS
Teacher Scott Haddad is about to get a check from the state for $3,300--and he's none too pleased about it. The way Haddad sees it, he should be getting $5,000, part of the big-money rewards finally heading to schools with huge test-score gains. But because the Los Angeles teachers union refused to negotiate the amounts of the big bonuses, as set out in a law, the money is being distributed essentially by seniority at low-performing schools that showed marked improvement.
BUSINESS
May 8, 2007 | From Times Staff and Wire Reports
New Century Financial Corp., an Irvine-based sub-prime mortgage lender being liquidated in bankruptcy, won court permission Monday to pay about $3.2 million in bonuses to 116 executives and key managers. The approved plan was sharply scaled back from the company's initial proposal, which would have paid $6.3 million to employees, including Chief Executive Brad Morrice.
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.
BUSINESS
December 11, 2009 | By Walter Hamilton and Martin Zimmerman
Facing persistent criticism of its huge pay packages, investment banking powerhouse Goldman Sachs Group Inc. said Thursday that it would buck long-standing Wall Street tradition and pay no year-end cash bonuses to 30 top executives. Instead, the firm will give those employees bonuses made up entirely of Goldman Sachs stock and will bar them from selling the shares for five years. The company also said it would give shareholders a formal voice regarding executive pay. By implementing a number of compensation reforms that Wall Street critics have long championed, Goldman is acting to discourage its employees from taking excessive financial risks.
SPORTS
July 9, 2011 | By Kevin Baxter
Foreign affairs The international signing period got off to a torrid start when the Texas Rangers signed 16-year-old Dominican outfielder Nomar Mazara to a record-breaking deal reported to be worth more than $5 million. That would be the largest bonus paid to a non-Cuban Latin prospect, eclipsing the $4.25 million that Oakland gave right-hander Michael Ynoa in 2008 — and it's more than 27 teams paid for all of their international signings last year. Texas also spent $3.5 million to sign 16-year-old outfielder Roland Guzman out of the Dominican Prospect League, meaning the Rangers shelled out more to sign two teenage free agents than they spent in the 50-round June draft last season.
NEWS
December 15, 1996 | GREG MILLER, TIMES STAFF WRITER
Setting a staggering new standard for generosity to employees, the co-founders of an Orange County technology company unveiled a $100-million bonus package at the company's holiday party Saturday night, and will soon begin giving workers checks for up to three times their annual salaries. With payments averaging $75,000, the largess represents employees' share of the $1.5-billion windfall received by David Sun and John Tu when they sold 80% of Kingston Technology Corp.
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