Gap CEO Glenn Murphy received compensation worth nearly $6 million in 2010, an 18 percent increase from the year before, according to an analysis by The Associated Press. Get the full story »
Inside these posts: Bonuses
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Average Wall Street bonus falls to $128,530
Wall Street workers may be feeling a little leaner. That’s because cash bonuses fell nearly 8 percent last year, according to New York State Comptroller Thomas DiNapoli. Bonuses paid to New York City workers in the financial securities industry fell to $20.8 billion in 2010. That’s a one-third drop in the bonus pool from 2007, before the financial crisis, DiNapoli said. Get the full story »
JPMorgan CEO Jamie Dimon gets $17M bonus
J.P. Morgan Chase & Co. Chief Executive Jamie Dimon received a 2010 equity bonus worth $17 million, the biggest bonus for a big name Wall Streeter so far this year. Though the equity bonus is similar to the prior year’s award, it still tops those so far given out to Dimon’s banking peers. Get the full story »
United Continental gives profit share payout
Several U.S. airlines that were in the black last year for the first time since 2007 are sharing some of their profits with employees.
Delta and United Continental said Monday they’re paying out profit-sharing bonuses. Delta Air Lines Inc. is doling out $313 million to its more than 80,000 employees. United Continental is handing out $224 million to its 87,000 employees. Get the full story »
GM, Chrysler salaried workers to get bonuses
Most of the 26,000 white-collar workers at General Motors Co. will get performance bonuses of 4 to 16 percent of their base salaries this year, but payments to a small number could be 50 percent or more, the company confirmed late Thursday.
Chrysler Group LLC also will give bonuses to its white-collar staff, with payments expected on Friday. Both companies needed government bailouts in 2008 and 2009 to stay in business and make it through bankruptcy protection. Get the full story »
U.S. to curb bank bonuses as part of global move
U.S. regulators began their most forceful attempt yet to clamp down on bank bonuses since the 2007-2009 financial crisis, and warned firms they would seek to counter attempts to circumvent the reforms.
While the proposals pale in comparison to similar restrictions in Europe, the talk of keeping a keen eye on loopholes indicates regulators want to get tough on banks that make symbolic pay changes while finding ways to gut the intent of reforms. Get the full story »
Tribune Co. creditors want insiders to return $250M
Tribune Co. creditors asked a Delaware judge to let them try to recover millions of dollars awarded to insiders in the year prior to the media company’s bankruptcy, saying they can do a better job than Tribune can.
In a Thursday court filing, Tribune’s official committee of unsecured creditors said it wants current and former Tribune officers and directors to return more than $250 million of awards, including bonuses and restricted stock. Get the full story »
Tribune judge OKs more than $40M in bonuses
The judge in Tribune Co.’s bankruptcy case approved more than $40 million in 2010 incentive bonuses for 635Â operating managers and executives Wednesday.
But based on the company’s projected performance through the end of the year, the payout will likely be closer to $30 million, according to court documents. Get the full story »
Tribune Co. seeks approval for new bonus plan ‎
Tribune Co. is asking a Delaware bankruptcy judge to approve up to $43 million in bonuses for top executives and managers this year.
The plan calls for some 640 people to receive bonuses totaling from $16.5 million to $42.9 million if certain cash flow targets are met. The request will be the subject of a hearing Wednesday.
Tribune scaled back the incentive plan this summer after complaints from creditors and an employees union. Get the full story »
Walgreen Co. CEO gets nearly 30% pay boost on bonus
The CEO of Walgreen Co. made nearly 30 percent more in fiscal 2010 because of a boost in his performance-related bonus as the nation’s largest drugstore chain improved profits and revenue despite the down economy.
Half of all Wall Street workers expect higher bonus
Half of financial professionals on Wall Street expect to get a higher bonus this year, and some of those expect a much bigger payout, according to an annual survey by financial job board, eFinancialCareers.com.
Eleven percent expect bonuses that are at least 50 percent higher than those paid out at the start of 2010, according to eFinancialCareers, a unit of Dice Holdings Inc, even though 2010 was seen as a “sideways” year for the stock market. Get the full story »
Citi sets raises, bonuses for top 25 execs
The top 25 executives at Citigroup Inc., except Chief Executive Vikram Pandit, are getting multimillion dollar salary raises in stock and potentially much more in bonuses.
Citi released the amounts of the raises in a public filing for its top officers Friday. Get the full story »
Under pressure, Tribune cuts back on bonuses
Under pressure from its creditors and unions, bankrupt Tribune Co. agreed to cut back on the bonuses it would pay under its proposed 2010 management incentive plan.
The move comes as Chicago-based Tribune Co. seeks to win approval from creditors for a reorganization plan that would allow it to exit a bankruptcy case that has dragged on for almost 20 months. Get the full story »
Pay czar Feinberg blasts banks’ bonus payments
Kenneth Feinberg on July 22 in Washington. (Alex Wong/Getty Images)
Pay czar Kenneth Feinberg said on Friday that 17 banks overpaid executives in late 2008 and early 2009 by about $1.6 billion during the financial crisis, when taxpayers’ money was being used to support them.
He proposed that financial firms adopt policies that would let them “restructure, reduce or cancel” bonus and other special payments to executives in future crises but said he had no authority to force banks to give back past overpayments. Get the full story »
Cash bonuses double Tootsie Roll execs’ pay
Ellen Gordon, president and COO of Tootsie Roll, in 1996. (AP Photo/Beth A. Keiser)
By Julie Wernau | The husband and wife team behind the Chicago-based Tootsie Roll brand received cash bonuses this year that more than doubled their base salaries. Melvin J. Gordon, chairman and CEO of Tootsie Roll Industries, received $4.15 million in total compensation in 2009, an increase over last year’s compensation of $3.3 million, according to a proxy statement filed Friday with the Securities and Exchange Commission and his wife, Ellen R. Gordon, president and chief operating officer, received $4 million, an increase over last year’s compensation of $3.19 million.
