March 19, 2011 |
Just days before investors would have their say on Walt Disney Co.'s executive pay, the entertainment giant changed the contracts of its top executives to remove a generous perk that had come under fire from an influential shareholder advisory firm. The company said it would no longer pay the taxes on any severance package for Chief Executive Robert A. Iger and three other senior executives in the event they lost their jobs in a sale or merger of the Burbank entertainment company.
June 10, 1991 |
A pilot who bailed out of his disabled airplane en route to Northern California from Santa Monica spent a night in the wilderness, then walked about 12 miles to a ranch near Hollister, where he called his family Sunday afternoon, authorities said. John Castellucci, 48, of Malibu, suffered slight back and leg injuries in the parachute landing, but was in satisfactory condition when he arrived home Sunday evening, said his wife, Linda.
August 11, 1999 |
San Diego-based Burnham Pacific Properties Inc., the target of an unsolicited $1.2-billion buyout offer, gave its top five executives "golden parachute" compensation packages that would be triggered if the company is taken over. On June 30, the San Diego-based real estate investment trust agreed to pay the executives a lump sum of three times their annual salary and three times their annual bonus if a takeover occurs, according to a filing with the Securities and Exchange Commission.
November 9, 1986
Having witnessed a Bloody Tuesday on the wrong side of a corporate takeover, my reaction to John F. Lawrence's Oct. 26 column (Why Golden Parachutes Are Fool's Gold) is, "right on." The chairman and president of our then-parent company took about $4 million in cash out of the deal. Most of the 200 employees who were fired received one or two weeks' pay plus one week's pay for each full year of service up to eight.
September 14, 1991 |
A widely acclaimed agreement by the Yosemite Park and Curry Co. to sell its hotels and other holdings in Yosemite National Park to the government contained an undisclosed provision awarding nearly $2 million in severance pay to five company executives. U.S. Interior Secretary Manuel Lujan Jr.
October 11, 1988 |
William G. Walker, the new U.S. ambassador to El Salvador, fractured his left leg while parachuting and will return to the United States for treatment, U.S. Embassy sources said Monday. Walker, 53, was parachuting for recreation Sunday at the Ilopango air force base, about 4 miles east of the capital, when he hurt the leg while landing, they said. It was his first attempt at parachuting. Walker was reported to be in good condition.
CALIFORNIA | LOCAL
August 8, 1989 |
A suspected drug smuggler eluded federal agents by parachuting out over the Everglades during a night chase and allowing his single-engine plane to fly out over the Gulf of Mexico and crash offshore. Authorities came across the pilot's parachute and some of his clothing during a ground search after the chase Saturday night.
CALIFORNIA | LOCAL
April 20, 1996 |
Members of the Canadian Forces Parachute Team paid a visit Friday to their pen pals at the South Bay Junior Academy in Torrance to talk about their daring canopy formations and what it's like to jump out of an airplane. This is the third year that the Sky Hawks, all members of the Canadian Forces regular or reserve forces, has visited the private school with 170 students in kindergarten to 10th grade. Members of the 17-member team volunteer their time to represent the country by performing parachute demonstrations around the world and to talk about drug prevention.
April 8, 1997 |
King Coach Larry Robinson cautioned against reading too much into his desire to add another option clause to his contract that would free him to leave after next season, as well as to get assurances management will make the necessary moves to accelerate the team's rebuilding. He insisted he's not trying to pressure owners Philip Anschutz and Edward Roski to spend money; he said they've been active in the community and, "Their word is gold.
November 24, 1994 |
Pop music titan Lou Adler, credited with many '60s and '70s hits--and now a dad to a toddler and an infant--has turned his attention to music for the younger set, with his Ode 2 Kids record label and last summer's two-day children's music performance extravaganza at Knott's Berry Farm. On Dec. 3, Adler and Parachute Express, a star attraction in the children's music field, will co-present Parachute's first "unplugged" concert, at the Roxy, Adler's 400-seat Hollywood club.