China Project Backfires on Pressured Seldon Executives
Windsor — Throughout much of 2015, Seldon executives and employees had been warned by Econet that the financial clock was ticking and the company needed to win a big contract. And it was against this backdrop that Seldon’s two top executives took a gamble that ultimately backfired and undermined the board’s trust in its new management team. In March, Shawn Montgomery, Seldon’s general manager, and Paul Gallagher, head of the water and...
Corporate Prosecutions Eased
Washington — Despite the many challenges in bringing such cases, the Justice Department is renewing its commitment to prosecuting corporate executives for financial misdeeds, Deputy Attorney General Sally Yates said Thursday. In a warning shot to Wall Street, Yates unveiled new policies to guide federal prosecutors in bringing more criminal cases against individuals even as she acknowledged that the Justice Department has, at times,...
Airline Probe: Was It Just Business as Usual?
Washington — As the Justice Department launches an investigation into possible collusion in the airline industry, experts say the government faces the burden of proving that carriers were deliberately signaling business decisions to each other. Airlines routinely increase flights based on demand. A particularly cold winter in the Northeast, for instance, might merit more flights to the Caribbean. And sometimes, routes are cut because...
Media Moguls Rule Best-Paid CEO List
New York — They’re not Hollywood stars, they’re not TV personalities and they don’t play in a rock band, but their pay packages are in the same league. Six of the 10 highest-paid CEOs last year worked in the media industry, according to a study carried out by executive compensation data firm Equilar and The Associated Press. The best-paid chief executive of a large American company was David Zaslav, head of Discovery Communications,...
Even Top Women Executives Aren’t Paid as Well as Men
Pay for performance — the concept that corporate executives earn gobs of stock grants when they perform well, but risk them if their company disappoints — should be a great leveler when it comes to executive pay. In theory, it creates a meritocracy. If the idea is to tie executives’ pay to shareholders’ results, then there should be no difference if the chief executive or chief financial officer is male or female. But it doesn’t quite...
