No acquisition, no IPO, no problem: Private exchanges springing up to combat lack of liquidityNEW YORK — Scott Painter makes his living betting on startup companies, having played a role in launching 29 of them over the years. But with the bad economy choking initial public offerings and acquisitions, Painter is now backing an idea that makes it easier for insiders like him to sell shares in their companies even before they go public. MGM Mirage ex-CEO Lanni paid $5.8M in 2008, successor Murren paid $3.7M, mostly as COOLAS VEGAS — Former MGM Mirage Chief Executive Terry Lanni received compensation valued by the company at $5.8 million in 2008, almost 40 percent less than in 2007, according to an Associated Press analysis of a regulatory filing made Thursday. SEC charges New York firm, California adviser with fraud in raising billions for Madoff schemeWASHINGTON — Federal regulators filed securities fraud charges Monday against a prominent California investment adviser and a New York brokerage firm said to be secretly controlled by Bernard Madoff, accusing them of funneling billions of dollars from investors into Madoff’s Ponzi scheme. Advisory firm backs Emulex board in Broadcom’s hostile takeover bidNEW YORK — The proxy advisory firm Glass Lewis & Co. has come down against a proposal by Broadcom Corp. that would allow a special meeting of Emulex Corp. shareholders to discuss Broadcom’s takeover offer. Federal indictment accuses billionaire R. Allen Stanford of running a vast Ponzi schemeWASHINGTON — Texas billionaire R. Allen Stanford, whose sprawling banking empire collapsed this year, has been indicted for what prosecutors say is a $7 billion scheme to defraud investors. Texas billionaire R. Allen Stanford set to appear in federal court in Va. after surrenderingRICHMOND, Va. — Texas billionaire R. Allen Stanford is scheduled to appear before a federal judge in Virginia at 1:30 p.m. Eastern time Friday for an initial hearing after surrendering to FBI agents on fraud charges the day before. Feds: Disgraced exec and wife divorcing in Conn. to avoid paying $3.2 billion in restitutionBRIDGEPORT, Conn. — Federal prosecutors in Connecticut say a former executive involved in a major accounting scandal is trying to divorce his wife to get out of paying $3.2 billion in restitution. McClendon defends leadership of Chesapeake after shareholder lectures him during meetingOKLAHOMA CITY — The chief executive of Chesapeake Energy Corp., under fire for taking a $75 million bonus while the company was losing billions, on Friday defended his leadership at one of the nation’s largest natural gas producers. Influential senators in health care overhaul have industry tiesWASHINGTON — Influential senators working to overhaul the nation’s health care system have investments and family ties with some of the biggest names in the industry. The wife of Sen. Chris Dodd, the lawmaker in charge of writing the Senate’s bill, sits on the boards of four health care companies. Heinz CEO’s compensation falls 5 percent to $13.9 million in fiscal 2009MILWAUKEE — The value of the compensation granted to H.J. Heinz Co. Chief Executive Officer William R. Johnson fell 5.3 percent to $13.9 million in fiscal 2009, when the ketchup and sauce maker’s profit rose about 9 percent, according to an Associated Press calculation of preliminary pay figures disclosed in a regulatory filing. Wife of senator playing key role in health care overhaul serves on medical company boardsWASHINGTON — The wife of a senator playing a lead role on a national health care overhaul sits on the boards of four health care companies, one of several examples of lawmakers with ties to the medical industry. House members not immune from downturn, financial statements showWASHINGTON — House members and their families suffered through investment losses like millions of Americans last year, a sampling of financial disclosure statements showed Wednesday. The economic downturn also sparked some cautionary moves. INSIDE WASHINGTON: Open government has its limits when it comes to lawmakers’ financesWASHINGTON — As the government spends billions bailing out cash-strapped businesses and homeowners, Americans might wonder whether their lawmakers are refinancing their own mortgages or benefiting from relief they backed. Winning streak: An $8,283 casino jackpot, then Supreme Court nomination for SotomayorWASHINGTON — Supreme Court nominee Sonia Sotomayor hit a casino jackpot for more than $8,000 last year. GM says it will keep its finances public after exiting bankruptcy as a ‘private’ companyNEW YORK — When General Motors Corp. emerges from bankruptcy protection, it will technically be a brand new, privately held company — yet it will be more publicly owned than ever, with taxpayers holding a 60 percent stake. Bed Bath & Beyond CEO Temares takes home $8.5 million in 2008, up 32 pct from 2007CHICAGO — Bed Bath & Beyond Inc. CEO Steven Temares received compensation the company valued at $8.5 million during the past fiscal year, an increase of 32 percent as the company’s sales inched up slightly but profit fell and its largest competitor liquidated, according to a regulatory filing. Best Buy chief Anderson takes home $1.25 million in 2008, down 60 percentCHICAGO — Best Buy Co. Inc.’s retiring CEO, Brad Anderson, received compensation the company valued at $1.3 million, a plunge of 60 percent from the previous year as the consumer electronics retailer cut jobs and offered buyouts for corporate staff. Nabors Industries CEO’s 2008 compensation more than doubles on higher bonus, stock awardsNEW YORK — The compensation received by Nabors Industries Ltd.’s chairman and chief executive more than doubled to $91.5 million in 2008, according to an Associated Press analysis of a recent regulatory filing, in a year when the oil and natural gas driller saw its net income and stock price fall sharply. Williams Cos. CEO’s compensation rises 10 percent to $8.9 million in 2008TULSA, Okla. — The chief executive of natural gas provider Williams Cos. earned 10 percent more in 2008 than the previous year, according to an Associated Press analysis of a filing made with the Securities and Exchange Commission. SEC accuses Reserve Management, top execs of fraud in ‘breaking buck’ incidentWASHINGTON — Federal regulators on Tuesday accused Reserve Management Co. Inc. and its two top executives of fraud, saying they withheld key facts from investors when its big money-market fund “broke the buck” last fall. Diebold agrees to pay $25 million penalty to settle civil charges tied to SEC probeNORTH CANTON, Ohio — ATM maker Diebold Inc. said Monday it will pay $25 million to settle civil charges of securities fraud under a tentative agreement with federal regulators. Tyco Electronics CEO gets $2.6M pay in 2008; year-ago had gotten big spinoff equity awardSAN FRANCISCO — The pay package for Tyco Electronics Ltd. Chief Executive Thomas Lynch was about a quarter the size in the company’s fiscal 2008 that it was in 2007, coming in at $2.6 million for the first full year of the company’s operation as a standalone entity, according to calculations by The Associated Press based on the company’s proxy filing Friday. SEC Chair says regulatory agency considering changes to CEO pay disclosure rulesNEW YORK — The Securities and Exchange Commission is considering changing a formula that critics say often allows public companies to low-ball in regulatory filings just how much top executives are paid. Freddie Mac pays out $700,000 to David Kellermann’s family after apparent suicideWASHINGTON — Freddie Mac is paying out more than $700,000 to the family of David Kellermann, the mortgage finance company’s former acting chief financial officer who died last week in an apparent suicide, the company disclosed Thursday. Delta chief received total compensation valued at $17.4M in ‘08, up 54 pct year-over-yearATLANTA — The chief executive officer of Delta Air Lines Inc., Richard Anderson, received total compensation valued at $17.4 million in 2008, a 54 percent jump from 2007 when he was in charge of the company for only four months, according to Associated Press calculations of data filed with regulators Thursday. Billionaire Adelson paid $1.28M in 2008 to run Las Vegas Sands, 59 percent drop from 2007LAS VEGAS — Billionaire Sheldon Adelson received $1.28 million in compensation as chief executive of Las Vegas Sands Corp. in 2008, 59 percent less than in 2007, as stock in the company where he is majority owner fell 94 percent, according to an Associated Press analysis of a company regulatory filing made Thursday. Monster Worldwide CEO’s compensation declined 37 percent in 2008NEW YORK — Sal Iannuzzi, the chief executive of Monster Worldwide Inc., received compensation in 2008 valued at $8.2 million — a 37 percent decline from the year before — according to an Associated Press analysis of a Wednesday SEC filing. Lewis hangs on to Bank of America CEO role as shareholders seek outright removal from firmCHARLOTTE, N.C. — Now that he’s lost his title as Bank of America’s chairman, Ken Lewis has to convince angry shareholders he should keep his job as CEO. Former General Re senior vice president faces sentencing in accounting fraud scandalHARTFORD, Conn. — A former executive of Connecticut-based General Re Corp. will serve a year and a day in prison for his role in an accounting scandal that authorities say cost shareholders of American International Group Inc. more than $500 million. Constellation Energy’s top executive receives 2008 compensation of $5.7M, says AP tallyCOLUMBUS, Ohio — Constellation Energy Group’s top executive, Mayo Shattuck III, received total compensation valued at $5.7 million in 2008, according to Associated Press calculations of data filed with regulators Wednesday. |
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