February 5, 2009 |
President Obama moved Wednesday to rein in the pay of executives whose companies get taxpayer bailout money -- putting a $500,000 cap on annual compensation, limiting "golden parachutes" to departing bigwigs and requiring corporate boards to adopt policies on luxury expenditures such as lavish entertainment and parties.
CALIFORNIA | LOCAL
December 12, 2009 |
The head of Southern California's regional commuter rail service was replaced Friday in a management shake-up that officials hope will better position the agency to tackle major safety and financial challenges in the wake of last year's Chatsworth disaster. FOR THE RECORD: Metrolink collision: An article in Saturday's Section A about the demotion of Metrolink Chief Executive David R. Solow said last year's Chatsworth train accident, which killed 25 and injured 135, was the worst in modern California history.
April 23, 2009 |
Troubled mortgage financing giant Freddie Mac and its employees were dealt another blow Wednesday when one of the company's top executives was found dead in his Virginia home, an apparent suicide. The death of David Kellermann, 41, the acting chief financial officer, adds more turmoil at Freddie Mac.
March 8, 2013 |
U.S. corporate executives believe American workers lack crucial skills for success. More than half of executives belief their underlings are "average at best" in areas such as creativity, collaboration, critical thinking and communication, according to a survey from the American Management Assn. And the number of managers who rate their workers "below average" rose in all four categories: 9.8% believe their employees lack critical thinking skills (up from 6.2% in 2010), 19.7% in creativity (up from 15.6%)
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.
March 5, 2008 |
Toyota Motor Corp. said nine of its U.S. executives planned to retire by the end of the year, sparking speculation that the automaker might be looking to revamp its executive lineup in the midst of an increasingly tough U.S. sales environment. The retiring executives include Senior Vice President Dave Illingworth, who has been with the automaker nearly 30 years.
January 29, 2003 |
Gateway Inc., the third-largest U.S. personal computer maker, hired four executives as it tries to return to profitability after losses in eight of the last nine quarters. William Parker will take on the newly created positions of president and general manager of Gateway's retail stores, the company said. Parker was formerly senior vice president for operations at Banana Republic stores, a division of Gap Inc.
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.
April 23, 2005 |
Four former Charter Communications Inc. executives received sentences Friday ranging from 14 months in prison to two years of probation for their roles in an accounting scandal at the nation's third-largest cable television provider. U.S. District Judge Carol Jackson in St. Louis said the executives, who pleaded guilty to felony counts related to a scheme to dupe investors, let down their company and deceived investors and regulators. St. Louis-based Charter was not accused of wrongdoing.
April 5, 1990 |
As major corporations pay more to relocate executives, they are finding executives less willing to move to Southern California, a new survey said. Seventy-three percent of the human resources directors surveyed at more than 100 Southern California corporations in Russell Reynolds Associates' annual executive recruiting study said it is "somewhat" or "very" difficult to relocate executives here. In 1989, 71% said it was somewhat or very difficult. John S.