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BUSINESS
April 29, 1992 | RALPH VARTABEDIAN
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.
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BUSINESS
January 30, 2012 | By Jerry Hirsch
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.
BUSINESS
July 22, 2013 | By Shan Li
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.
BUSINESS
January 9, 2007 | From Bloomberg News
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.
BUSINESS
October 5, 1986 | DONALD WOUTAT
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%.
BUSINESS
October 3, 2002 | Bloomberg News
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.
BUSINESS
March 14, 1997 | Times Staff and Wire Reports
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.
BUSINESS
February 15, 2008 | From the Associated Press
Microsoft Corp. announced the departure of several executives Thursday, among them a Silicon Valley veteran recruited to help fix its unprofitable Web business and one in charge of marketing Windows Vista. It also announced the promotion of more than a dozen other executives. The changes come two weeks after Microsoft offered to buy Web portal and search competitor Yahoo Inc.
BUSINESS
May 4, 2003 | James Flanigan
The excesses of top corporate executives are a lot like the drug trade -- a social ill that is impossible to stamp out no matter how many times we shout, "Just say no!" A year ago "reform" was all the rage. After the collapse of Enron Corp., WorldCom Inc. and Global Crossing Ltd., as well as scandals arising at Tyco International Ltd., Adelphia Communications Corp.
BUSINESS
May 2, 1986 | VICTOR F. ZONANA, Times Staff Writer
For U.S. firms operating in Asia, how to recruit good middle and senior managers has long been a puzzle. Should they move one of their American executives, often at great expense, or hire someone overseas? If hiring abroad, should they take on American or European expatriates or opt for local nationals? How much should they pay, and what other compensation or perquisites are required?
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