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As pay falls, CEOs get more perks

April 30, 2009 8:14 pm | by VINNEE TONG - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — U.S. companies remain generous with the perks they give to CEOs, including some that are unfathomable to the average American worker: chauffeured cars, bodyguards, club memberships and free travel in company jets.The median value of these and similar perks rose nearly 7 percent in...

SEC considering change to CEO pay disclosure rules

April 30, 2009 8:09 pm | by RACHEL BECK - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — 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.At issue is how companies report in a summary compensation table found in their annual...

AP IMPACT: Recession takes toll on CEO pay in 2008

April 30, 2009 8:09 pm | by MATTHEW FORDAHL - AP Business Writers - Associated Press | News | Comments

NEW YORK (AP) — CEOs are taking a hit from the recession — less total compensation, smaller bonuses, nearly worthless stock options — but their companies are already making adjustments that could mean fatter paychecks in the future.An Associated Press analysis shows the median pay package for CEOs...

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Chrysler bankruptcy judge no stranger to big cases

April 30, 2009 8:09 pm | by VINNEE TONG - AP Business Writer - Associated Press | News | Comments

NEW YORK (AP) — For Chrysler's sake, it needs a judge who can move it quickly through the Chapter 11 bankruptcy process. By most accounts, Arthur Gonzalez is the right judge."He is a judge you would want if that is what you want to happen," restructuring expert Evan Flaschen of Bracewell & Giuliani...

After struggle, Chrysler succumbs to bankruptcy

April 30, 2009 8:09 pm | by STEPHEN MANNING - AP Business Writers - Associated Press | News | Comments

DETROIT (AP) — The first sound of the gavel in Chrysler's bankruptcy case might as well be the bang of a starter's pistol.The nation's third-largest automaker filed for Chapter 11 bankruptcy protection Thursday with an ambitious plan to emerge in as little as 30 days as a leaner, more nimble...

Mexico: Economy down near 7 percent in 1st quarter

April 30, 2009 8:04 pm | by The Associated Press | News | Comments

MEXICO CITY (AP) — Mexico says its economy shrank nearly 7.0 percent in the first quarter from the previous year, as manufacturing exports plunged 22.8 percent.Mexico's Treasury Department says the drop "is due to the deterioration of global economic conditions." It says the country lost 372,289...

Boston Herald hikes newsstand prices

April 30, 2009 6:18 pm | by The Associated Press | News | Comments

BOSTON (AP) — The Boston Herald is raising the newsstand price of its daily newspaper by 25 cents to $1, citing economic pressures affecting the newspaper industry.The increase for papers sold within 30 miles of Boston will be effective May 11. Outside of the 30-mile area, the cost will remain at...

Freddie Mac pays $700K to former exec's survivors

April 30, 2009 5:53 pm | by ALAN ZIBEL - AP Real Estate Writer - Associated Press | News | Comments

WASHINGTON (AP) — 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.The McLean, Va.-based company said in a Securities and...

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Y-stone Club owner has personal debts of $150M

April 30, 2009 4:57 pm | by MATTHEW BROWN - Associated Press Writer - Associated Press | News | Comments

BILLINGS, Mont. (AP) — Court filings show Yellowstone Club owner Edra Blixseth is more than $150 million in debt, while most of her houses, cars and other property have been put up as collateral on overdue loans.Blixseth and her former husband, Tim, developed from scratch the posh club with its...

NV Energy hits renewable target for first time

April 30, 2009 4:47 pm | by The Associated Press | News | Comments

RENO, Nev. (AP) — State regulators have certified that NV Energy Inc., Nevada's largest electric utility, has for the first time met its requirement that 9 percent of the power it produces be generated using renewable resources.Both of the company's subsidiaries — formerly Nevada Power Company...

Reader survey of stories roils Tribune newsroom

April 30, 2009 4:37 pm | by HERBERT G. McCANN - Associated Press Writer - Associated Press | News | Comments

CHICAGO (AP) — The Chicago Tribune in recent weeks solicited subscribers' opinions on stories before they were published, a practice the paper's own reporters said raises ethical questions, as well as legal and competitive issues.An e-mail signed by 55 reporters and editors, sent Wednesday to...

UBS asks to keep account holders a secret

April 30, 2009 4:11 pm | by SARAH LARIMER - Associated Press Writer - Associated Press | News | Comments

MIAMI (AP) — Swiss banking giant UBS AG said turning over to the IRS the names of thousands of wealthy Americans who might be withholding billions in income from U.S. taxes would violate Swiss law and undermine international relations, according to a court brief filed Thursday.The Internal Revenue...

Fontainebleau construction slowing amid lawsuit

April 30, 2009 4:06 pm | by OSKAR GARCIA - Associated Press Writer - Associated Press | News | Comments

LAS VEGAS (AP) — Contractors building a $3 billion casino-resort on the Las Vegas Strip began trimming workers this week while financing to finish the project is in question, the developer said Thursday.Fontainebleau Las Vegas sued 11 lenders last week, saying the banks had pulled back on a...

Japan jobless rate up, spending down in March

April 30, 2009 4:06 pm | by The Associated Press | News | Comments

TOKYO (AP) — Japan says its jobless rate rose and household spending fell in March.Friday's government announcement shows the world's second-largest economy is still faltering.The Ministry of Internal Affairs and Communications said the jobless rate worsened to 4.8 percent in March, up from 4.4...

IDT reports fiscal 4th-qtr loss

April 30, 2009 3:46 pm | by The Associated Press | News | Comments

SAN JOSE, Calif. (AP) — Integrated Device Technology Inc. on Thursday reported a loss for its fiscal fourth-quarter due to a drop in revenue and a major writedown in the value of the company.For the quarter that ended March 29, the communications chip maker reported a loss of $719.2 million, or...

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