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Executives Wages And Salaries

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BUSINESS
May 17, 1992 | TED JOHNSON, SPECIAL TO THE TIMES
For many Orange County executives, 1991 was a year when their pay packages came under greater shareholder scrutiny and corporate boards were cautious in handing out cash bonuses and perks. It mirrored a trend statewide of keeping executive compensation in line with a company's financial performance. Of the top 100 county executives on the list of publicly traded companies, one-third of the officers saw their cash compensation remain unchanged or had it reduced.
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BUSINESS
December 7, 2001 | NANCY RIVERA BROOKS, TIMES STAFF WRITER
Enron Corp. confirmed Thursday that it paid $55 million to about 500 key executives, traders and other employees last week on the eve of filing the biggest bankruptcy petition in U.S. history. As those 500 were paid on average $110,000 to remain with the company, the 4,000 Houston-area employees who have since lost their jobs each got $4,500 before taxes and have lost almost all their retirement savings because of the plunge in Enron's stock price.
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NEWS
February 22, 1998 | CHUCK PHILIPS and MICHAEL A. HILTZIK, TIMES STAFF WRITERS
In 10 years, C. Michael Greene has transformed the Grammy Awards from a minor industry ritual into the global television event airing Wednesday night before an audience of 1.5 billion. Along the way, the 49-year-old Greene, chief executive of the National Academy of Recording Arts and Sciences, has transformed himself into one of the most powerful and controversial figures in the music industry. Once a struggling Atlanta saxophonist, Greene now lives in a $1.
BUSINESS
November 14, 2001 | JERRY HIRSCH, TIMES STAFF WRITER
Enron Corp. Chief Executive Kenneth L. Lay on Tuesday waived a severance payment of at least $60 million due him when Dynegy Inc. completes its expected acquisition of Enron next year, company officials said. The potential payment, disclosed in a Securities and Exchange Commission regulatory filing Tuesday, would undoubtedly have sparked additional controversy, given Lay's primary role in the sharp fall of Enron's stock and worsening financial condition, which led to the Dynegy deal.
BUSINESS
December 6, 1992 | JAMES FLANIGAN
The typical public reaction to last week's news of Michael Eisner's $197-million payout from stock options was negative. "It's obscene. Nobody's worth that kind of money," said an attorney when told the income of Walt Disney Co.'s chairman. Even top business executives were qualified in their responses. "A deal's a deal," said one corporate chieftain, citing the fact that Eisner's now-valuable options date to 1984, when he took the helm at Disney.
BUSINESS
June 8, 1991 | CARLA LAZZARESCHI, TIMES STAFF WRITER
Apple Computer and International Business Machines may be discussing a technology swap or other business deal to bolster their respective operations amid increasing competition, analysts said Friday. However, spokesmen for both firms declined to confirm or deny a published report that a deal involving IBM's workstation microprocessor and Apple's operating system software is under discussion.
BUSINESS
February 24, 2000 | LESLIE EARNEST, TIMES STAFF WRITER
With Quiksilver Inc.'s profits swelling by 48% over the last fiscal year, the surfwear maker's boss is getting a financial pat on the pack--a 50% boost in his salary. Chief Executive Robert McKnight Jr.'s annual salary has risen to $600,000 as of Feb. 1, from $400,000 last year, according to a document filed Wednesday with the Securities and Exchange Commission. McKnight also earned a $1.2-million bonus in 1999, which was tied to the company's performance.
NEWS
November 26, 1995 | MARK PLATTE, TIMES STAFF WRITER
The agencies overseeing California's first public toll roads have rewarded their executives with lofty salaries, cash bonuses and unusual perks--including a 2 1/2-month paid annual leave for one and a $190,000 home loan for another--over a six-year period in which Orange County slumped through a prolonged recession and declared bankruptcy.
BUSINESS
May 10, 1988 | BRUCE HOROVITZ
Although 1987 was, at best, a so-so year in the advertising business, it was a banner year for the industry's highest-paid executives. In fact, salaries of the 30 top paid executives at the nation's largest publicly held advertising agencies were up a whopping 17.2% compared to 1986, according to the Gallagher Report, a New York-based advertising industry newsletter. The highest-paid U.S. advertising executive in 1987 was Philip H. Geier Jr.
BUSINESS
January 8, 1995 | GRAEF CRYSTAL, SPECIAL TO THE TIMES; Graef Crystal, one of the nation's foremost experts on executive compensation, is editor of the Crystal Report and adjunct professor of organizational behavior and industrial relations at the Haas School of Business at University of California, Berkeley. Beginning with this article, he will contribute occasionally to Sunday Business. and
Back in 1991, when the screaming about American executive pay reached its zenith, critics like me hammered away at two major problems: First, we claimed, CEO and other senior executive pay was too high; second, we pointed out, pay was relatively insensitive to corporate performance. Apparently deciding that solving both problems at once was too hard a job, the business community commenced working on the second problem: pay sensitivity.
BUSINESS
November 13, 2001 | Bloomberg News
Fujitsu Ltd., which expects to record a loss of about $2.6 billion this year, said it will reduce salaries and bonuses of managers to cut costs. Fujitsu will cut monthly salaries of 500 managers, who aren't board members, by 3% from this month to next March, company spokesman Robert Pomeroy said. Fujitsu also will pare the winter bonuses of 6,000 non-board managers by between 10% and 20%, he said. The news was earlier reported in the Yomiuri newspaper.
NEWS
September 2, 2001 | WASHINGTON POST
The latest study of executive pay by the Institute for Policy Studies and United for a Fair Economy, a Boston-based nonprofit that works to spotlight economic inequality, shows that: * Executive pay increased 571% between 1990 and 2000, not adjusting for inflation. * The salaries of America's chief executives rose far more sharply than workers' paychecks, which increased by 37% in the 1990s and barely stayed ahead of inflation, which rose by 32%.
BUSINESS
August 22, 2001 | Reuters
Donna Karan International Inc. said former Chief Executive John Idol will get a $12.2-million package after he resigned from the fashion house last month. Idol will get $6.3 million from Donna Karan and $5.9 million from French luxury goods concern LVMH Moet Hennessy Louis Vuitton, which is buying the New York-based fashion company, Donna Karan said in a quarterly filing with the Securities and Exchange Commission. Donna Karan shares fell 6 cents to $10.57 on the Big Board.
BUSINESS
August 11, 2001 | CHARLES PILLER, TIMES STAFF WRITER
Internet portal site Yahoo reported Friday the remaining details of the compensation package for its new chief executive, Terry Semel. Semel's salary will be $310,000 annually--identical to the sum received by former Yahoo CEO Tim Koogle, who was replaced by Semel on May 1. Yahoo previously announced that Semel had received a grant of 10 million stock options, which gradually vest over the next four years. Those shares are priced from $17.62 to $75. So Yahoo's stock--which fell 86 cents to $15.
BUSINESS
August 7, 2001 | KATHY M. KRISTOF, TIMES STAFF WRITER
Four former executives of Waste Management Inc. could lose $23.1 million in severance and stock benefits as part of a proposed settlement of a group of shareholder lawsuits against the company. The move was highly unusual, compensation experts said, and the amount of money involved significant. Although they wouldn't speculate about whether the settlement would set a precedent, one expert said it could have an effect on other cases.
BUSINESS
August 5, 2001 | KATHY M. KRISTOF, TIMES STAFF WRITER
The slowing California economy isn't necessarily putting the brakes on executive salaries at Southland companies. In fact, executive pay continued to rise at some companies last year in the face of layoffs, declining profits and falling stock prices, according to a survey of chief executive pay at 200 Southern California companies.
BUSINESS
April 9, 1993 | DAVID S. HILZENRATH, THE WASHINGTON POST
Outlining its plan to curb runaway pay for corporate chieftains, the Clinton Administration on Thursday proposed giving shareholders a role in setting executive compensation. But many forms of pay would not be affected by the Administration's policy of denying tax deductions for amounts in excess of $1 million that corporations pay executives. The Treasury Department estimated that the plan would raise about $600 million over five years, compared to the $1.
BUSINESS
May 20, 1988 | WILLIAM K. KNOEDELSEDER Jr., Times Staff Writer
CBS Inc. has sued the two top executives of its former record division, CBS Records Group, for allegedly mismanaging funds in the days before the division was sold to Sony Corp. for $2 billion last December. Filed in New York Supreme Court, the CBS suit names Walter Yetnikoff, president and chief executive of the now Sony-owned CBS Records Inc., and Seymour Gartenberg, executive vice president of the company.
BUSINESS
July 11, 2001 | From Reuters
The salaries of managers and executives at U.S. firms are rising in spite of the recent surge in job cuts, a new report by outplacement firm Challenger, Gray & Christmas Inc. said. Challenger said the report indicated companies are looking beyond the current slowdown toward an improvement in the economy. In the April-June quarter of this year, 91% of job-seeking managers and executives received "equivalent or better" salaries in new positions, compared with 87.
BUSINESS
May 30, 2001 | Dow Jones
EMachines Inc. registered 8 million common shares on behalf of Stephen Dukker, its former president and chief executive. The Irvine seller of low-cost personal computers won't receive proceeds from the sale of the shares, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission. No underwriters were listed in the filing. The company has about 145.5 million common shares outstanding. Dukker, who founded EMachines in 1998, stepped down March 4.
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