January 30, 2012 |
Japanese suppliers will pay criminal fines of more than $500 million after being caught in a massive auto parts price-fixing scheme, and four Japanese executives will serve U.S. jail terms as part of a plea deal, the Department of Justice said. Yazaki Corp. will pay a $470-million fine, the second-largest criminal fine obtained for a Sherman Act antitrust violation, the government said, while Denso Corp., agreed to pay a $78-million fine. Regulators said that for as long as 10 years, the companies colluded to divvy up contracts to supply Honda Motor Co. and Toyota Motor Corp.
June 9, 2006 |
A Nasdaq Stock Market Inc. subsidiary is warning public companies that probes into possible manipulation of executive stock options might push up the cost of insuring their executives and board members against lawsuits. Carpenter Moore, a division of Nasdaq Insurance Agency that acts as an insurance broker for companies on the exchange, said in an undated memorandum that some insurers were already seeking to limit their liability under so-called directors' and officers' coverage.
May 24, 2007 |
Arnaud Lagardere and other high-profile executives are being questioned by French market authorities investigating alleged insider dealing at European Aeronautic Defense & Space Co., the parent of plane maker Airbus, a spokesman for Lagardere said. The probe focuses on the sale of millions of euros' worth of shares by top EADS executives in March and April 2006, weeks before the company announced major delays to the super-jumbo A380 that sent the stock price tumbling 26% in one day.
April 29, 1992 |
Hughes Aircraft announced Tuesday a major restructuring and realignment of executives, continuing a streamlining that began last July. The reorganization is meant to strengthen its commercial ventures and maintain its defense business, the company said. The firm will fold its diverse operations into four new business sectors: aerospace and defense sector, headed by sector President Richard D. Brandes; systems integration sector, headed by John C.
July 22, 2013 |
British drugmaker GlaxoSmithKline said Monday that some of its executives in China appeared to have broken laws as authorities there investigate allegations of widespread bribery by the company. Chinese police, who have detained four company employees in China so far, accused the drugmaker of bribing hospitals and doctors to prescribe their drugs and using a network of travel agencies to funnel the money. It's part of a string of international firms that have come under scrutiny in China over allegations of bribery and corruption in the pharmaceutical industry.
February 2, 2000 |
Disneyland President Cynthia Harriss promoted three executives to senior vice presidents Monday, citing their past work and the additional duties they will have as Walt Disney Co. adds a second Anaheim theme park, a third hotel and a retail-entertainment zone in 2001. The three are Bill Ross, 49, of public relations, who took a lead role in negotiating with local government over the $1.
January 9, 2007 |
Activision Inc. said it amended the employment agreements of Chief Executive Robert Kotick and co-Chairman Brian Kelly to avoid tax penalties because some stock option grants may have been misdated. Kotick and Kelly agreed to remove a provision in their contracts that automatically re-prices options if control of the company changes, Santa Monica-based Activision said.
October 5, 1986 |
Southern California executives are in line for 1987 pay hikes about a percentage point higher than their counterparts elsewhere, according to compensation expert Hewitt Associates of Chicago. Hewitt's survey of a small number of Southland companies suggests that their executives can expect salary hikes of 6.4% next year versus a national average of 5.4%.
October 3, 2002 |
Adelphia Communications Corp. founder John Rigas, two of his sons and two other former company executives pleaded not guilty to charges of defrauding the cable television system operator of more than $2.5 billion. Authorities accused the Rigases of hiding $2.3 billion in debt, looting company funds to pay for personal expenses such as stock purchases and a golf course, and lying to investors about the company's financial health.
March 14, 1997 |
The former Texaco Inc. executive who came forward with damaging tapes against himself and other company executives in a racial-discrimination case was indicted on a charge of obstruction of justice. If convicted, Richard Lundwall, 55, former senior coordinator of personnel services of Texaco's finance department, would face a maximum sentence of 10 years in prison and a $250,000 fine.