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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.
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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
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
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.
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
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.
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.
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