Category: Uncategorized

Hostess Execs Slapped for Tripling Their Pay

Just before Hostess Brands went into bankruptcy, executives gave themselves large pay increases. The CEO at that time, Brian Driscoll, received a raise tripling his earnings from $750,000 to $2.55 million. Other executives received smaller increases which averaged about 80%,…

Oil Rig CEO Charged with Bribery

Swiss oil services company Noble, with offices in Sugar Land, Texas, paid $8.1 million in 2010 to settle U.S. charges of corruption. Noble cooperated with the government to uncover the bribery of Nigerian officials. The SEC filed charges against the…

Bonus Sinks to $7 Million

The chief executive officer of Goldman Sachs, the too-big-to-fail bank in the middle of the 2008 world financial crises, saw his stock bonus cut to $7 million in 2011, down from $12.6 million the year before. The investment bank saw…

More Charges Against Olympus CEO

New criminal charges were made against former Olympus top executives by the Japanese government last week. The first charges were made in February stemming from $1.7 billion in losses at the company which were hidden by company leaders. Chief executive…

Bank CEO Stripped of Knighthood

In 2004, Queen Elizabeth II bestowed a knighthood on Fred Goodwin, the chief executive officer of the Royal Bank of Scotland. “He led RBS through an era of grand expansion between 2000 and 2007, but the bank became dangerously leveraged…

Sprint CEO Bonus Protected From Drop

Wireless carrier Sprint Nextel Corp. added the iPhone to their product line during 2011. The large costs involved caused a $1.3 billion loss during the fourth quarter of the year, larger than expected according to Anton Troianovski. He reported Sprint…