March 6, 2009 |
Bruce Karatz, who rode the housing boom to become one of the highest-paid executives in the country, was indicted by a federal grand jury Thursday on charges of manipulating stock options -- becoming one of the few executives to face criminal charges in the nation's options backdating scandal. Karatz, 63, served as chairman and chief executive of Westwood-based KB Home from 1986 to 2006, when he resigned under fire.
March 30, 2009 |
Bruce Karatz may be facing prison time, but he was the one doing the comforting before his bail hearing in federal court last week. The former chief executive of KB Home rubbed the shoulders of his visibly upset fiancee, Lilly Tartikoff, whispering in her ear and consoling her. By all appearances, you might not know that he was the one being forced to turn in his passport and pledge a Bel-Air mansion as collateral to make bail.
November 10, 2009 |
Can a former chief executive -- especially one who made $232 million running a home-building company in the three years before the industry melted down -- get a fair shake from jurors on charges of defrauding investors? Attorneys for former KB Home CEO Bruce Karatz told a Los Angeles federal judge Monday that bias against corporate bosses runs deep, and took the extraordinary step of hiring a polling firm to prove its point. The Hart Research Associates poll showed that top executives are even more disliked than politicians.
March 23, 1986
I just returned from India and France and read Ruth Ryon's article about our French housing operation (Feb. 16). It was superb and I thank you for your fine work. I am very proud of our French company as I regard it as "my baby," and I was pleased to see our operations presented to Times readers. BRUCE KARATZ Los Angeles Karatz is president of Kaufman & Broad Development Group.
May 26, 1991
Bruce Karatz of Kaufman & Broad Home Corp. saw his pay drop from $3 million in 1989 to $1.8 million in 1990--a $1.18 million decline. Second-biggest pay cut will go to Christopher Gibbs, J. M. Peters Co., whose compensation fell from $2.9 million to $1.8 million.
September 21, 2008
I am outraged at the settlement of the backdating suit with former KB Home Chief Executive Bruce Karatz. ("Ex-KB chief settles SEC suit," Sept. 16.) He pays $7 million, agrees not to be an officer or director of a public company for five years and admits no liability. He collected more than $232 million in his last three years with the company. His fine is 3% of that compensation. Now that's a real deterrent for others and quite an attention getter for Karatz. What on earth do you have to do to get charged with fraud?
November 21, 2006 |
Former KB Home Chief Executive Bruce Karatz, who retired last week amid a stock option scandal, has resigned from the boards of directors of Rosemead-based Edison International and its utility, Southern California Edison Co., Edison said Monday. The board resignations were effective Nov. 13 and "did not involve any disagreement" relating to Edison, according to regulatory filings. Honeywell International Inc. said Karatz had resigned from its board Nov. 14.
December 3, 2006
Regarding "Exiting under a cloud, with $175 million," Nov. 20: The enormous compensation package Bruce Karatz is taking with him as he departs KB Home sounds like a bad credit-card commercial: Severance package: $80 million. Special executive pension plan: $25 million. Stock options: $70 million. Leaving the company in the middle of a stock option backdating scandal so you have time to spend your financial windfall: priceless. Unfortunately, this isn't a commercial; it's an example of public company executive pay run amok.
January 11, 1987
The annual UCLA Real Estate Forecast Conference will be held Monday at the Beverly Hilton, from 8 a.m. to 5 p.m. Real estate decision makers and analysts will offer their predictions for the new year, discussing legal implications, markets, opportunities for small investors, joint-venture equities, syndication and finances. Ray Bradbury, science fiction writer, will present the keynote address at a 12:30 p.m. luncheon, according to the conference chairman, Prof. Fred E.
April 10, 2013 |
The Museum of Contemporary Art in Los Angeles announced Wednesday that it has added three people to its board of trustees. Their election comes at a still-vulnerable time for the museum, which has been dealing with financial problems in recent years. Among the new trustees is Bruce Karatz, former chairman and chief executive of KB Home. Eli Broad, who was a founder of the home-building company, is a founding chairman and life trustee of the museum. Karatz's wife, Lilly, is also a MOCA trustee.