|US: Regulator Plans to Bar Big Severance
by JAMES R. HAGERTY, Wall Street Journal
September 15th, 2008
The regulator of Fannie Mae and Freddie Mac said Sunday that it won't allow the companies to make "golden parachute" severance payments to the mortgage companies' ousted chief executive officers.
|US: UnitedHealth Ex-CEO Settles Pay Case
by VANESSA FUHRMANS , Wall Street Journal
September 11th, 2008
Former UnitedHealth Group Inc. Chief Executive William McGuire agreed to pay $30 million and forfeit 3.7 million stock options to settle shareholder claims related to options backdating, adding to what was already one of the largest executive-pay givebacks in history.
|US: Companies Tap Pension Plans
To Fund Executive Benefits
by ELLEN E. SCHULTZ and THEO FRANCIS, The Wall Street Journal
August 4th, 2008
In recent years, companies from Intel Corp. to CenturyTel Inc. collectively have moved hundreds of millions of dollars of obligations for executive benefits into rank-and-file pension plans. This lets companies capture tax breaks intended for pensions of regular workers and use them to pay for executives' supplemental benefits and compensation.
|US: Fannie Mae Ex-Officials Settle
by JAMES R. HAGERTY, Wall Street Journal
April 19th, 2008
The settlement, announced Friday, brings the government far less than it had originally sought over alleged violations of accounting rules. Fannie's regulator, the Office of Federal Housing Enterprise Oversight, in 2006 sought to require the three former executives to pay back more than $115 million of bonuses and pay fines that it said at the time could total more than $100 million.
|US: Chiefs’ Pay Under Fire at Capitol|
by JENNY ANDERSON, The New York Times
March 8th, 2008
In pointed exchanges with Congressional lawmakers Friday, three prominent financial executives defended the multimillion-dollar pay packages they received even as their companies were brought to their knees by the spreading credit crisis.
|UK: From $1 firm, Lord Ashcroft nets £132m|
by Simon Bowers, Guardian (UK)
October 9th, 2007
The UK's Lord Ashcroft, the Conservative party deputy chairman and major donor, has agreed to sell his loss-making US janitorial business in a deal that will bring him a £132m windfall.
|US: SEC Asks Firms to Detail Top Executives' Pay|
by Kara Scannell and Joann S. Lubli, The Wall Street Journal
August 31st, 2007
Stepping up its campaign to shed light on the mysteries of executive pay, the Securities and Exchange Commission has sent letters to nearly 300 companies across America critiquing disclosures in this year's proxy statements and demanding more information.
|US: Executive Pay: A Special Report. More Pieces. Still a Puzzle.|
by Eric Dash, New York Times
April 8th, 2007
In response to a barrage of criticism that regulators have not kept up with the complexities of swelling pay packages, the Securities and Exchange Commission now requires corporate America to disclose details of executive compensation more fully. As this year’s proxies pour in, they are packed with fresh information aimed at making pay more transparent. Of course, it also is a lot more confusing.
|US: Lockheed Stock and Two Smoking Barrels|
by Richard Cummings, Playboy.com
January 16th, 2007
If you think the Iraq war hasn't worked out very well for anyone, think again. Defense contractors such as Lockheed are thriving. And no wonder: Here's the story how Lockheed's interests- as opposed to those of the American citizenry- set the course of U.S. policy after 9/11.
|US: Pentagon Spends Billions to Outsource Torture|
by Joshua Holland, Alternet
September 14th, 2006
The thousands of mercenary security contractors employed in the Bush administration's "War on Terror" are billed to American taxpayers, but they've handed Osama Bin Laden his greatest victories -- public relations coups that have transformed him from just another face in a crowd of radical clerics to a hero of millions in the global South (posters of Bin Laden have been spotted in largely Catholic Latin America during protests against George W. Bush).