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In 2010, chief executives at some of the nation’s largest companies earned an average of $11.4 million in total pay — 343 times more than a typical American worker, according to the AFL-CIO.
“Despite the collapse of the financial market at the hands of executives less than 3 years ago, the disparity between CEO and workers’ pay has continued to grow to levels that are simply stunning,“ said Richard Trumka, AFL-CIO president. Get the full story »
Real estate and housing data company Zillow Inc. filed with U.S. securities regulators on Monday for an initial public offering of up to $51.8 million. Get the full story »
The Securities and Exchange Commission is in talks with major Wall Street banks to settle fraud allegations relating to the sale of toxic mortgage bonds to various investors that helped unleash the financial crisis, the Wall Street Journal reported, citing sources familiar with the matter. Get the full story »
Motorola Solutions Inc. and Huawei Technologies Co. said Wednesday they have agreed to settle all pending litigation between the companies. Get the full story »
W. Bruce Johnson was appointed in 2008. (Sears handout)
Sears Holdings Corp. interim Chief Executive W. Bruce Johnson saw his compensation package rise 250 percent to $5.3 million last year, according to a proxy the Hoffman Estates-based company filed with the Securities and Exchange Commission.
Johnson, who held the spot until February, received a base salary of $980,000, up 15 percent from the prior year. His stock awards were $4.3 million, up from $663,000. Get the full story »
Johnson & Johnson has agreed to pay $70 million to settle U.S. charges that it paid bribes and kickbacks to win business overseas, the first major pharmaceutical company to settle since the Obama administration began its scrutiny of the industry more than a year ago. Get the full story »
CBOE Holdings Inc. Chief Executive Officer William Brodsky, who steered the operator of the biggest U.S. options market through an initial public offering last June, received a giant pay boost for his efforts. Get the full story »
Declaring 2010 “the best year in safety performance in our company’s history,“ Transocean Ltd., owner of the Gulf of Mexico oil rig that exploded, killing 11 workers, has awarded its top executives hefty bonuses and raises, according to a recent filing with the U.S. Securities and Exchange Commission. Get the full story »
U.S. securities regulators proposed rules Wednesday that would require publicly listed companies to have independent compensation committees and make key disclosures about their use of compensation consultants. Get the full story »
A U.S. Food and Drug Administration chemist and his son were charged with using inside information about drug approvals to reap more than $3.6 million in profits, in an embarrassing blow to the health industry regulator. Get the full story »
Warren Buffett’s company offered a strong endorsement of five stocks it holds as part of discussions with regulators about how it should value Kraft Foods, Wells Fargo & Co., Sanofi Aventis, Swiss Re and US Bancorp. Get the full story »
The top U.S. securities regulator wants new rules to help protect exchanges and other trading venues from computer-generated volume spikes and hackers seeking to harm the country’s capital markets. Get the full story »
Greg Brown and Sanjay Jha, the chief executives of Motorola Solutions Inc. and Motorola Mobility Inc. saw significant increases in their 2010 compensation from a year earlier, according to a proxy statement Motorola Solutions filed Tuesday with the U.S. Securities and Exchange Commission.
Motorola split into two independent companies in January, with Brown heading Motorola Solutions and Jha in charge of Motorola Mobility. In 2010, Brown’s total compensation was $13.7 million, compared with $8.5 million in 2009. Jha’s total compensation jumped to $13 million from $3.8 million. Get the full story »
Swiss bank UBS said it had received subpoenas from U.S. and Japanese regulators regarding whether it made “improper attempts” to manipulate LIBOR rates, the benchmark price for interbank borrowing costs.
“UBS understands that the investigations focus on whether there were improper attempts by UBS, either acting on its own or together with others, to manipulate LIBOR rates at certain times,” the bank said in its annual report Tuesday. Get the full story »
