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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Autonomy whistleblower steps forward

Category : Business

Whistleblower could be entitled to payout rather than the sack thanks to new US laws

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Correct way to proceed over BAE/EADS merger is obvious

Category : Business

If merger is counted as change of control this could trigger early payout of share options. BAE should obey the rollover principle

If BAE Systems combines with EADS would the event count as a change of control, thus triggering an early payout of share options enjoyed by chief executive Ian King and his senior colleagues?

It’s hard to know for certain since the idea is to create a dual-listed company. There are few of those in existence and they tend not to be what remuneration committees have in mind when they draft the rules of incentive schemes.

But legal niceties shouldn’t enter the picture. The correct way to proceed is obvious: all incentive arrangements for all BAE employees should be rolled over into the new company on an equivalent basis. Anything else would be outrageous. BAE, if its gets as far as publishing a merger document next week, should put in writing that it will obey the rollover principle.

Apple’s boss rejects $75m payout

Category : Business

Apple’s boss, Tim Cook, turns down a payout worth about $75m (£48m) that he was due from the technology giant’s upcoming dividend.

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Stocks Finish Mixed; Apple Casts Shadow

Category : Stocks

NEW YORK (TheStreet) — Wall Street finished mixed on Tuesday with the Dow pushed higher by positive earnings reports and a dividend hike from IBM, and the Nasdaq tripped up by weakness in Apple.

The market put aside worries about Europe for the day, instead focusing on solid numbers from AT&T and 3M, as well as Big Blue’s plans to boost its quarterly payout by 13% and buy back up to $7 billion worth of its stock.

The Dow Jones Industrial Average rose 74 points, or 0.6%, to close at 13,001. Earlier in the session, the price-weighted index ran as high as 13,050. The S&P 500 tacked on 5 points or 0.4% to finish at 1372.

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Investors see no problem with huge bonuses as long as they make a bit, too

Category : Business

Shareholders did well out of Bart Becht’s Reckitt but few seemed to bother calculating what he really cost them

How much money does it take to get a FTSE 100 chief executive out of bed in the morning? In the past six years Bart Becht, who led household goods company Reckitt Benckiser, maker of Cillit Bang, Durex condoms and Nurofen, has received more than £200m in cash and shares, and this weekend it emerged that, despite stepping down as chief executive last September, he looks to be in line for about £45m more.

For many City investors, however, these colossal payouts are not at all troubling. After all, it’s not a one-way street: like Becht, some institutional shareholders have also cleaned up. What’s not to like?

Even following his record-breaking £91.5m cash and shares payout in 2009, the subsequent annual general meeting saw only 16% of shares were voted against the pay policy – a protest but not an emphatic one. In any event, the time for action on pay is when policy is set, not when you don’t like the results.

Behind the scenes, shareholders did encourage Reckitt to dial down Becht’s rewards in 2007. As the annual report put it, “current total remuneration is moving ahead of the stated policy”. Had the remedial action not been taken, the Reckitt boss would have earned many millions more.

AGM season is approaching, as Richard Wachman explores on page

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Former Reckitt boss Bart Becht in line for £45m in future share awards

Category : Business

Barch Becht received a package worth £12.1m last year, including £10.2m in shares, taking his total to over £200m in less than six years

Bart Becht, former boss of the company behind Cillit Bang and Vanish who has set multiple records for executive pay, is in line for staggered share payouts worth an estimated £45m in future years – despite having stepped down as chief executive last September.

The former Reckitt Benckiser boss received a package worth £12.1m last year, including £10.2m in shares, according to the group’s annual report published on Friday.

Becht’s annual pay package reached £91m in 2009 – one of the worst years for the global economy in the post-war era – sparking a national debate on executive remuneration. In less than six years he has received cash and shares worth £203m. This does not include the estimated £45m that an analysis by the Guardian suggests he may receive in future years despite having relinquished the reins.

The average salary among Reckitt’s 37,800 workforce last year was £33,000. Meanwhile Reckitt’s annual report makes clear, despite Becht’s departure, his 2011 multimillion-pound payout is unlikely to be his final windfall.

Assuming the group continues to meet performance hurdles, he will be entitled to receive 733,333 shares over then next two years, valued at £25.8m based on Friday night’s closing share price. The first of these payouts, worth more than £10m, will be released in six weeks time.

In addition, Becht retains options over a further 2.87m shares, with a weighted average exercise price of £28.09. Assuming performance criteria are met, these options would have a market value of £20.5m if they could be exercised at Friday’s share price. The actual gain on these share awards will depend on the share price at the time.

In 2010 Becht transferred £110m to his charitable trust, which donates to charities such as Médecins Sans Frontières and Save the Children. Asked if he felt a moral obligation to donate some of his pay, he told the Telegraph in December: “I don’t think it’s a moral obligation. I think it’s an opportunity to give something back.” Pressed on whether businessmen give enough back in general, he added: “It’s a personal choice whether you give to charity or not.”

Becht has repeatedly sought to avoid answering media questions relating to his pay and rarely gives interviews. He spoke to the Telegraph only on condition that he was not asked questions about remuneration – a condition the paper felt should not be observed.

He was appointed chief executive of Dutch household good group Benckiser 16 years ago, leading the company into a merger with Britain’s Reckitt & Colman in 1999. The combined company’s shares have been some of the most successful performers among FTSE 100 stocks for many years.

Two years ago Guardian research showed how a significant part of the group’s strong earnings growth had been driven by a little talked about legacy division, which makes large profits from exclusive rights to sell a heroin substitute called Suboxone, an alternative to methadone, in the US.

While Becht has taken credit for the stellar performance, the business benefited hugely from the good fortune of being in the right market at the right time as drug addict numbers rose and US healthcare regulators relaxed rules on the sale of Suboxone.

Becht’s successor, Rakesh Kapoor, who has been at the company since 1987, receives significantly lower salary, bonus opportunities and share awards than his predecessor. A spokesperson denied this was because payouts to Becht had been excessive.

Lottery players quietly wait for $500 million jackpot Friday – San Jose Mercury News

Category : Stocks


Boston.com
Lottery players quietly wait for $500 million jackpot Friday
San Jose Mercury News
By Bruce Newman James Thompson shows his Super Lotto Plus form as he talks about the Mega Millions lottery tickets he will purchase before Friday at the Easy Mart on Oakland Road, in San Jose, Calif., on Wednesday, March 28, 2012.
Mega Millions' $500M lottery payout has players dreamingWashington Times
Mega millions maniamsnbc.com
What to do after you hit the Mega Millions jackpotDetroit Free Press

all 2,178 news articles

[[VALE]] has proposed a $3B ($0.59/share) initial 2012 dividend payout to shareholders. The mining giant previously announced it would pay at least $6B in dividends this year. It paid out $9B in 2011, after promising a minimum of $4B. (earlier)

Category : Stocks

VALE has proposed a $3B ($0.59/share) initial 2012 dividend payout to shareholders. The mining giant previously announced it would pay at least $6B in dividends this year. It paid out $9B in 2011, after promising a minimum of $4B. (earlier) Post your comment!

View original post here: [[VALE]] has proposed a $3B ($0.59/share) initial 2012 dividend payout to shareholders. The mining giant previously announced it would pay at least $6B in dividends this year. It paid out $9B in 2011, after promising a minimum of $4B. (earlier)

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New Michigan Cash for Clunkers Program

Category : World News

Details of a new “Cash for Clunkers” payout program have been announced today in Kalamazoo, Michigan. The privately funded follow up to the car-buying frenzy of the 2009 government-sponsored program using no government funds.

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Deere ([[DE]] -0.4%) declares a 12.2% increase in its quarterly dividend payout to $0.46 a share. Shares now trade with a 2.2% yield.

Category : Stocks

Deere (DE -0.4%) declares a 12.2% increase in its quarterly dividend payout to $0.46 a share. Shares now trade with a 2.2% yield. Post your comment!

View original post here: Deere ([[DE]] -0.4%) declares a 12.2% increase in its quarterly dividend payout to $0.46 a share. Shares now trade with a 2.2% yield.

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