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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.
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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.
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.
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.
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.
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