The board of the Walt Disney Company said CEO Rober Iger deserved to be the Lion King because 90% of his compensation was based on incentives he earned. The Burbank, Calif. entertainment giant reached record profits last year. Based on SEC filings, Iger earned a base salary of only $2 million and stock awards...
Called by The Wall Street Journal “one of Wall Street’s most prominent dealmakers,” Steven Schwarzman is worth about $4.7 billion according to Forbes, which ranks him as the 66th richest American. Despite national publications which already write about his vast wealth, the CEO of the Blackstone Group refuses to detail his holdings for the...
A company which has seen big sales success from their smart phone chip technology, Qualcomm Inc. rewarded their chief executive officer with a 23% raise for the most recent fiscal year. Paul Jacobs earned a total compensation package of $21.7 million according to SEC filings. Mr. Jacobs received a salary of $1.15 million and...
French nuclear engineering company Areva launched an internal investigation into a $2.5 billion purchase of a Canadian uranium-mining company called UraMin in 2007. The investigation is said to have been initiated by mangers in the company behind the back of then-CEO Anne Lauvergeon, especially because the purchased companies actually had no uranium mines, just...
Jan. 17, 2012 – The Canadian government is trying a former Nortel Networks CEO and two other executives for fraud. Frank Dunn along with former CFO Douglas Beatty and Comptroller Michael Gollogly cooked the books with the primary goal of triggering executive bonuses, according to the Crown. “Management misled the company’s board of directors,”...
Jan. 8, 2012 – The story begins by describing Todd Dagres as “a prominent venture capitalist and independent movie producer, (who) earned $3.5 million in 2003 and paid not a cent in federal income tax.” In fact, during the five year period he earned $58.5 million and paid a tax rate of 20%, although...
Jan. 14, 2012 – Well-regarded CEO Antonio Horta-Osario waived his 2011 bonus as he returned to his position at Lloyds Banking Group after taken an unexpected leave of absence in November. He had announced he suffered from extreme fatigue. In his two month absence, the bank “had been in disarray,” Jessica Hodgson reported in...
Jan. 12, 2012 – Two of the top executives of now-iconic bank Goldman Sachs left in what was called “shocking,” “highly unusual” and part of a “surprising shake-up,” by Liz Rappaport writing in the Wall Street Journal. David B. Heller and Edward K. Eisler had been fast-tracked to the 32-member management committee, from where...
Nov. 17, 2011 – Russian oil oligarch Leonard Blavatnik made billions in oil after the Soviet Union collapsed and insiders divided up the spoils. He owns homes in New York and London, reports Devin Leonard in Bloomberg Businessweek. In the name of privatization and dismantling communism, Kremlin insiders and cronies got rich. Those who...
Jan. 12, 2012 – After Fannie Mae was a key driver of the world financial meltdown in 2008-09, Michael J. Williams was named CEO in April, 2009. Although he was a longtime Fannie executive, Williams was promoted to help clean things up. Fannie Mae and sister mortgage-banking giant Freddie Mac, have already accounted for...
