March 14, 2001 |
These are tough times at EMachines, unless you're at the top. The struggling Irvine computer vendor lost $129 million in the last quarter as revenue slumped 56%. Its stock has not traded above $1 for months, and the company has been warned that it could be removed from the Nasdaq stock market if the situation does not improve. Nonetheless, the company agreed to pay its new chief executive a compensation package worth nearly $3 million this year, and will shell out $1.
February 3, 2001 |
When Northrop Grumman Corp. completes its $3.8-billion purchase of Litton Industries Inc. next month, the biggest beneficiaries may well be Litton's top executives, who could end up with $168 million in compensation. According to a filing with the Securities and Exchange Commission on Thursday, the bulk of the merger-related largess will go to five senior executives at Litton, who could take home $110 million in vested stock options, severance and lump-sum supplemental retirement payments.
January 12, 2001 |
Quaker Oats Co. Chief Executive Robert Morrison will get a payment of about $19.3 million if he stays at least 18 months after PepsiCo Inc. completes its planned purchase. The payment is in addition to his $1.11-million annual salary. Morrison agreed to remain Quaker Oats' chairman, president and CEO after the acquisition. He also will become co-vice chairman of PepsiCo with Roger Enrico, the soft-drink maker's current chairman and CEO.
December 1, 2000 |
Costa Mesa drug maker ICN Pharmaceuticals Inc. cut the compensation, including the bonus and the stock award, of Chief Executive Milan Panic last year after the company's earnings slumped in 1998, according to a regulatory document. Most ICN executives were given smaller bonuses and stock grants last year compared to the previous year, according to a proxy statement filed with the Securities and Exchange Commission.
November 1, 2000 |
Seagram Co. Chief Executive Edgar Bronfman Jr. is guaranteed $6 million in the next two years in salary and bonus payments following the company's $27.5-billion acquisition by Vivendi, according to a regulatory filing. Bronfman, who will become vice chairman of the combined company, called Vivendi Universal, will receive an annual salary of $1 million and as much as $3 million a year in bonuses if achievement targets are met. "However, Mr.
October 30, 2000
Friday's Top Gainers *--* Chief executive Company Friday's change Total value Steven A. Ballmer Microsoft +$778,787,708 $16,219,741,868 Sanjiv S. Sidhu I2 Technologies +316,688,029 8,160,801,000 Lawrence J. Ellison Oracle Corp. +165,644,519 45,304,081,856 Andrew J. McKelvey TMP Worldwide +109,920,055 1,358,394,412 B. Thomas Golisano Paychex +97,606,747 2,149,850,063 *--* Friday's Biggest Losers *--* Chief executive Company Friday's change Total value Keith J.
October 27, 2000 |
Diedrich Coffee Inc.'s new chief executive, J. Michael Jenkins, will receive a base salary of $300,000 a year, according to a document the company filed Thursday with the Securities and Exchange Commission. In addition, Jenkins will receive a guaranteed bonus of $100,000 on the first anniversary of his employment with the Irvine coffee company. Subsequent bonuses will be based on specific objectives and targets. Jenkins also received options to purchase 500,000 shares of Diedrich common stock.
September 13, 2000 |
Oracle Corp. Chairman and Chief Executive Larry Ellison received options to buy 20 million shares of stock in the world's largest maker of database software as part of a new plan that gives him a single large option grant and no salary. Ellison, 56, received $208,000 in salary and no bonus for its fiscal year ended May 31, according to a company filing with the Securities and Exchange Commission.
August 15, 2000 |
Xerox Corp., the world's largest copier company, will pay ousted Chief Executive Richard Thoman $800,000 a year for life, according to a filing with the Securities and Exchange Commission. Xerox also will pay Thoman, who was fired in May after a little more than a year as CEO, a cash payment of $200,000 in lieu of a continuation of life-insurance benefits, and $375,000 as a prorated 2000 bonus in February of next year.
CALIFORNIA | LOCAL
June 25, 2000 |
A year of reform and reorganization at the Los Angeles Unified School District is significantly raising the salaries of top executives as well as increasing the number of people who can earn in the six-figure range, a Times analysis has found. At the same time, a gradual mushrooming of jobs in the 11 new subdistricts has apparently wiped out initial projections that the reorganization would trim hundreds of jobs.