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BUSINESS
February 20, 1993 | From Times Staff and Wire Reports
Citicorp's Reed Gets $1-Million Bonus: Citicorp Chairman John S. Reed was awarded a $1,035,000 bonus in 1992 as a result of his company's improved performance. New York-based Citicorp, the nation's largest bank holding company, has been focusing on improving its balance sheet over the last two years in an effort to strengthen its capital position. Reed's bonus, salary and other incentive compensation enabled 52-year-old Reed to pocket $2.
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BUSINESS
December 24, 2003 | From Bloomberg News
California Controller Steve Westly is calling on interim New York Stock Exchange Chairman John S. Reed to release a report on former Chairman Richard Grasso's compensation to help restore public confidence. Westly, in a letter to Reed dated Tuesday, said releasing the report would show that the exchange was committed to reforms. Westly is a board member of the California Public Employees' Retirement System, the largest U.S.
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BUSINESS
November 14, 2003 | Thomas S. Mulligan
New York Stock Exchange interim Chairman John S. Reed will meet with exchange seat holders today at the Westin Bonaventure Hotel in downtown Los Angeles as part of an eight-city "road show" to rally support for his reforms. The trip concludes in San Francisco on Saturday. The holders of the 1,366 trading seats -- about 30 of whom live in California -- will vote on the reform package Tuesday, after which it will go to the Securities and Exchange Commission for final approval.
BUSINESS
November 14, 2003 | Thomas S. Mulligan
New York Stock Exchange interim Chairman John S. Reed will meet with exchange seat holders today at the Westin Bonaventure Hotel in downtown Los Angeles as part of an eight-city "road show" to rally support for his reforms. The trip concludes in San Francisco on Saturday. The holders of the 1,366 trading seats -- about 30 of whom live in California -- will vote on the reform package Tuesday, after which it will go to the Securities and Exchange Commission for final approval.
BUSINESS
December 24, 2003 | From Bloomberg News
California Controller Steve Westly is calling on interim New York Stock Exchange Chairman John S. Reed to release a report on former Chairman Richard Grasso's compensation to help restore public confidence. Westly, in a letter to Reed dated Tuesday, said releasing the report would show that the exchange was committed to reforms. Westly is a board member of the California Public Employees' Retirement System, the largest U.S.
BUSINESS
January 14, 1992 | SCOT J. PALTROW, TIMES STAFF WRITER
Citicorp said Monday that it expects to report a net loss for the 1991 fourth quarter of $125 million to $150 million and a net loss for all of 1991 of $450 million to $475 million. However, the nation's largest bank holding company, parent of Citibank, said its radical cost-cutting drive will make the troubled banking behemoth profitable this year. Banking analysts said the relatively small loss for the 1991 fourth quarter was in line with their projections. Citicorp's stock rose $1.
BUSINESS
September 30, 2003 | Thomas S. Mulligan, Times Staff Writer
Far from seeking wholesale resignations from the New York Stock Exchange board, interim Chairman John S. Reed on Monday said that he regretted that two directors already had quit and that he was encouraging others to stay on until a new governance "architecture" is in place. Reed, on his first official day on the job, told reporters he unsuccessfully tried to talk lead director H.
BUSINESS
November 6, 2003 | Kathy M. Kristof, Times Staff Writer
John S. Reed, interim chairman of the New York Stock Exchange, said he kept a close eye on past pay when deciding whom to nominate as independent directors of the NYSE. That's no surprise, given that his predecessor Richard Grasso's ouster was triggered in part by revelations about exorbitant salary and benefits. "I avoided people who had been highly compensated as CEOs," Reed said at a news conference Wednesday.
BUSINESS
November 7, 2003 | Thomas S. Mulligan, Times Staff Writer
Despite a personal sales pitch Thursday from John S. Reed, the California Public Employees' Retirement System will mount a campaign to scuttle his proposed reforms of the New York Stock Exchange. CalPERS, the nation's largest public pension fund, with assets of $145 billion and 1.4 million retiree members, called on federal regulators to reject the plan put forward by Reed, the NYSE's interim chairman.
BUSINESS
September 27, 2003 | Walter Hamilton, Times Staff Writer
In his first visit to the New York Stock Exchange since being named its interim chairman, John S. Reed pledged Friday to reform the Big Board's governance and to swiftly appoint permanent senior management for the world's biggest stock market. In a letter to NYSE members, Reed said he would move quickly to implement changes "to reestablish trust and confidence in the NYSE and its governing practices."
BUSINESS
November 7, 2003 | Thomas S. Mulligan, Times Staff Writer
Despite a personal sales pitch Thursday from John S. Reed, the California Public Employees' Retirement System will mount a campaign to scuttle his proposed reforms of the New York Stock Exchange. CalPERS, the nation's largest public pension fund, with assets of $145 billion and 1.4 million retiree members, called on federal regulators to reject the plan put forward by Reed, the NYSE's interim chairman.
BUSINESS
November 6, 2003 | Thomas S. Mulligan, Times Staff Writer
John S. Reed, brought in to shake up the New York Stock Exchange, unveiled his long-awaited reform plan Wednesday, drawing immediate fire from critics who said it would not go far enough to make the world's largest stock market answerable to investors. The highlight of Reed's proposal is a drastically slimmed-down board of directors that for the first time would be free of business or regulatory ties to the exchange.
BUSINESS
November 6, 2003 | Kathy M. Kristof, Times Staff Writer
John S. Reed, interim chairman of the New York Stock Exchange, said he kept a close eye on past pay when deciding whom to nominate as independent directors of the NYSE. That's no surprise, given that his predecessor Richard Grasso's ouster was triggered in part by revelations about exorbitant salary and benefits. "I avoided people who had been highly compensated as CEOs," Reed said at a news conference Wednesday.
BUSINESS
October 28, 2003 | From Bloomberg News
John Reed, interim chairman of the New York Stock Exchange, has begun sketching out a revamped board to NYSE members. Reed told NYSE member William Higgins in a meeting last week that he wanted a board of 16 to 18 people with authority for regulatory matters, Higgins said in a letter to other NYSE members. A second "executive board" would consist of six people drawn from institutional investors, securities firms, NYSE-listed companies and people who own the exchange's 1,366 memberships.
BUSINESS
September 30, 2003 | Thomas S. Mulligan, Times Staff Writer
Far from seeking wholesale resignations from the New York Stock Exchange board, interim Chairman John S. Reed on Monday said that he regretted that two directors already had quit and that he was encouraging others to stay on until a new governance "architecture" is in place. Reed, on his first official day on the job, told reporters he unsuccessfully tried to talk lead director H.
BUSINESS
September 27, 2003 | Walter Hamilton, Times Staff Writer
In his first visit to the New York Stock Exchange since being named its interim chairman, John S. Reed pledged Friday to reform the Big Board's governance and to swiftly appoint permanent senior management for the world's biggest stock market. In a letter to NYSE members, Reed said he would move quickly to implement changes "to reestablish trust and confidence in the NYSE and its governing practices."
BUSINESS
November 6, 2003 | Thomas S. Mulligan, Times Staff Writer
John S. Reed, brought in to shake up the New York Stock Exchange, unveiled his long-awaited reform plan Wednesday, drawing immediate fire from critics who said it would not go far enough to make the world's largest stock market answerable to investors. The highlight of Reed's proposal is a drastically slimmed-down board of directors that for the first time would be free of business or regulatory ties to the exchange.
BUSINESS
October 28, 2003 | From Bloomberg News
John Reed, interim chairman of the New York Stock Exchange, has begun sketching out a revamped board to NYSE members. Reed told NYSE member William Higgins in a meeting last week that he wanted a board of 16 to 18 people with authority for regulatory matters, Higgins said in a letter to other NYSE members. A second "executive board" would consist of six people drawn from institutional investors, securities firms, NYSE-listed companies and people who own the exchange's 1,366 memberships.
BUSINESS
April 7, 1998 | STUART SILVERSTEIN, TIMES STAFF WRITER
One is a restless entrepreneurial spirit, a deal maker with a long history of buying companies on the cheap and handing off management duties to a coterie of loyal lieutenants. The other is a long-term company man, a cerebral technocrat who has been with Citicorp ever since graduating from Massachusetts Institute of Technology 33 years ago.
BUSINESS
February 20, 1993 | From Times Staff and Wire Reports
Citicorp's Reed Gets $1-Million Bonus: Citicorp Chairman John S. Reed was awarded a $1,035,000 bonus in 1992 as a result of his company's improved performance. New York-based Citicorp, the nation's largest bank holding company, has been focusing on improving its balance sheet over the last two years in an effort to strengthen its capital position. Reed's bonus, salary and other incentive compensation enabled 52-year-old Reed to pocket $2.
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