Compensation for Parker-Hannifin’s CEO fell 6.3 percent as recession cut profit 46 percentNEW YORK — The CEO of Parker-Hannifin Corp. received compensation in fiscal 2009 valued at $9.1 million, 6.3 percent less than the previous year’s compensation, according to an Associated Press calculation of figures filed with regulators. GE’s Immelt warns less lending, high unemployment to drag on US economic recoverySINGAPORE — General Electric Co. chief executive Jeffrey Immelt warned Tuesday that high unemployment and slower lending will drag on U.S. economic growth, likely resulting in the weakest recovery in decades. Star Tribune emerges from bankruptcy protection with new ownership, reduced debtMINNEAPOLIS — The Star Tribune of Minneapolis has emerged from bankruptcy protection with new ownership and reduced debt. Sears pays record $6.2 million to settle charges it discriminated against disabled workersWASHINGTON — Sears Holdings Corp. has agreed to pay a record $6.2 million to settle allegations that it illegally fired disabled employees. NJ prosecutor’s office in spotlight as attorneys for Jayson Williams seek to prove racial biasNEWARK, N.J. — The next few days may feel like alumni week for the Hunterdon County Prosecutor’s Office, minus the good vibes and fond reminiscences. Maxygen CEO and CFO to leave Wednesday as part of expanded partnership with Astellas PharmaNEW YORK — Maxygen Inc. said Monday its CEO and chief financial officer will leave the company on Wednesday, in keeping with a collaboration with Astellas Pharma Inc. Communist China at 60: Each family in richest village has house and car awarded by communityHUAXI, China — Public loudspeakers in the central square blare the village anthem hourly: “If you want to see a miracle, come to Huaxi.” Not that any reminders are needed. Road accident in Turkey frees bees who go after the crash victimsANKARA, Turkey — A van carrying beehives crashed into a truck on Monday, and huge swarms of bees broke free and stung the injured and rescue workers at the scene. JPMorgan Chase shuffles management of investment banking team, names Jes Staley CEO of unitNEW YORK — JPMorgan Chase is shuffling the management duties of its investment bank and asset management units. Guinea opposition protest killed 157, more than 1,200 wounded, human rights group saysCONAKRY, Guinea — Soldiers reeking of alcohol menaced Guinea’s capital Tuesday, a day after the military’s presidential guard shot at pro-democracy demonstrators in the West African country, leaving at least 157 people dead, a human rights group said. Surviving King sibilings hold first shareholder meeting in 5 years under judge’s watchATLANTA — The surviving children of the Rev. Martin Luther King Jr. met in a courtroom Monday to formally discuss estate business for the first time in five years. Scores killed in quake, ensuing tsunami at Samoa islands in South PacificAPIA, Samoa — A powerful earthquake in the South Pacific hurled massive tsunami waves at the shores of Samoa and American Samoa, flattening villages and sweeping cars and people out to sea, leaving at least 82 dead and dozens missing. Germany’s Merkel vows to press ahead quickly with forming new center-right governmentBERLIN — Chancellor Angela Merkel vowed Monday to have a new center-right German government in place by the time Germany marks 20 years since the fall of the Berlin Wall on Nov. 9. She said tax cuts were possible in 2011, but rejected savings measures that might strangle an incipient economic recovery. Witness: Census worker’s body was naked, gagged, hands and feet bound with duct tapeBIG CREEK, Ky. — A part-time census worker found hanging in a rural Kentucky cemetery was naked, gagged and had his hands and feet bound with duct tape, said an Ohio man who discovered the body two weeks ago. Freddie Mac chief financial officer to receive signing bonus, salary of up to $5.5 milionWASHINGTON — Freddie Mac’s new chief financial officer, lured from the banking industry this month, is receiving a pay package worth up to $5.5 million. Largest RI employees union accepts tentative deal preventing government shutdown, layoffsPROVIDENCE, R.I. — The largest Rhode Island employees union has accepted a tentative deal that would prevent a government shutdown and mass layoffs. Obama says world leaders united and confident after bringing economy out of crisisPITTSBURGH — World leaders on Friday issued sweeping promises to fix a malfunctioning global economic system in hopes of heading off future financial meltdowns. President Barack Obama said actions taken so far “brought the global economy back from the brink.” Back to basics: Recession-worried renters desire practical and homey amenities over the flashyRenters might have the upper hand in today’s apartment market, but they’re not taking all they can get. G-20 leaders: Bankers’ pay should depend on success of their investment choicesPITTSBURGH — World leaders say bank executives should not be guaranteed multiyear bonuses because such compensation makes them less accountable for risky investments. New York Times management is open to voluntary buyouts for union members, could avert layoffsNEW YORK — The New York Times told its main union this week that it is open to offering voluntary buyouts in a move that could avert additional layoffs as the newspaper seeks to further cut costs. California establishes nation’s first statewide carbon fee to fund emission-reduction programSACRAMENTO, Calif. — Despite industry objections and threats of lawsuits, California air regulators on Friday approved the nation’s first statewide carbon fee on utilities, oil refineries and other polluting industries. Puerto Rico to fire 16,000 government employees, aims to cut budget deficitSAN JUAN, Puerto Rico — Puerto Rico’s government announced Friday that it will lay off more than 16,000 public workers in the U.S. Caribbean territory, adding to an unemployment rate higher than that of any U.S state. Former aide to California congresswoman sentenced to probation for stealing office fundsWASHINGTON — A former executive assistant to California Rep. Loretta Sanchez was sentenced Friday to three years probation for stealing office funds to get herself pizza, groceries, airline tickets and an authorized bonus. Coroner: ‘Fed’ written in felt-tip pen on Ky. Census worker found hanging from treeBIG CREEK, Ky. — Authorities said a U.S. Census worker died by asphyxiation but were releasing few other details about the mysterious case nearly two weeks after Bill Sparkman’s body — with the word “fed” scrawled on the chest — was found hanging from a tree near a family cemetery secluded by Appalachian forest. Tribune executive defends proposed bonuses of up to $70 million in bankruptcy hearingWILMINGTON, Del. — The chief financial officer for the Tribune Co. is defending proposed bonuses of up to $70 million for the company’s top managers. AP Source: New Chrysler board considering new vehicles with Fiat technologyDETROIT — A person briefed on the agenda says the new Chrysler Group LLC board will discuss plans for a number of new models, some based on cars sold by Italy’s Fiat Group SpA. Health care issues: Overutilization of careA look at key issues in the nation’s health care debate: AP answers your questions on the news, from wildlife and wind farms to unemployment benefitsWind power has its fans, but the turbines that turn breezes into energy are also generating concerns: Some worry that the huge contraptions might put wildlife at risk. G-20 leaders adopt board-of-directors role and seek reform agenda to repair global economyPITTSBURGH — Leaders of the world’s major economies are coming together on reforms to rein in huge bank bonuses, toughen financial regulations and guard against the dangerous imbalances that contributed to the worst global downturn since the 1930s. Asphyxiation ruled cause of death for Census taker found with ‘fed’ written on chestBIG CREEK, Ky. — Authorities said a U.S. Census worker died by asphyxiation but were releasing few other details about the mysterious case nearly two weeks after Bill Sparkman’s body — with the word “fed” scrawled on the chest — was found hanging from a tree near a family cemetery secluded by Appalachian forest. |
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