Former SAP executive Leo Apotheker, now in his fourth month as HP’s CEO, has a package that rivals that of superstar athletes and movie stars. – Hewlett-Packard filed a regulatory report Feb. 1 with the Security and
Exchange Commission detailing the compensation package it has arranged for its
new CEO, former SAP
executive Leo Apotheker a package that rivals that of superstar athletes and movie
stars.
Apotheker, who started his new job …
DBS Group Holdings said it paid no monetary compensation for Royal Bank of Scotland Group plc’s retail and commercial banking businesses in China, Melvin Teo, chief executive officer of DBS China, said at a press briefing in Shanghai today. DBS took over the business because RBS wanted to exit, Teo said.
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IT workers with experience in financial technologies are seeing a 50-plus percent boost in demand from 2009, and they are not afraid to tell you they expect larger bonuses and will jump ship to obtain a larger piece of the compensation pie to get it. – Dont
ever underestimate the greenbacks, Mr. IT Manager. Your employees are pining
for more of the compensation pie in 2010.
More than 40 percent of technology workers who work for
Wall Street firms think compensation is the most important reason to work in
financial fields, according to a new …
Germany has said it will pay $5,000 in compensation to victims of an airstrike in the Kunduz region.
Deutsche Welle reports that this came after lengthy consultations with village elders and an Afghan human rights group.
Victims of tainted Chinese goods seek compensation in Hong Kong
MANY firms doing business in China agree to use Hong Kong as a forum to resolve legal disputes, in an effort to avoid China’s notoriously arbitrary and corrupt courts. Now some of their customers have had a similar idea: the families of four children poisoned in China by tainted milk in 2008 have sued in Hong Kong for compensation.
On May 27th Hong Kong’s Small Claims Tribunal, which handles claims of HK$50,000 ($6,400) or less without the intercession of lawyers, dismissed the case, largely on jurisdictional grounds. But that is unlikely to be the last word: an appeal is in the works. Although the sums involved are trivial (no more than HK$35,000 in any of the four cases), if the complaints were to succeed the ramifications would be enormous. …
This was sent to me by a contact in Congress.The FDIC has an open comment period for a rule they are considering to tie insurance deposit premiums to executive compensation structures. 13 members of Congress are sending the following letter to the FDI…
A compensation program for families of those killed in the German airstrike in Kunduz will consist of short-term help for the winter and long-term investment. Families of civilian victims of the German airstrike in Afghanistan in September will receive compensation through long-term support projects rather than monetary payments, a German lawyer for the victims’ families said at a press conference Thursday.
A source in Washington just emailed the following:Today, the FDIC voted 3-2 to accept comments on a proposed rule to link FDIC insurance premiums to executive compensation practices. The two no votes were Comptroller John Dugan and OTS Chief John Bowm…
A source in Washington just emailed the following:Today, the FDIC voted 3-2 to accept comments on a proposed rule to link FDIC insurance premiums to executive compensation practices. The two no votes were Comptroller John Dugan and OTS Chief John Bowm…
A-Sonic Aerospace says one of its wholly-owned subsidiaries has received a once-off compensatory payment of US$8 million ($11 million) from GE Aviation Systems LLC (GE Aviation) after a distribution agreement between the two parties was terminated.
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Companies who simply say sorry to angry customers fare better than those that offer financial compensation, a new study has found.
To reach the conclusion, researchers checked the reaction of more than 100 customers a month who left negative feedback to a firm notching up 10,000 sales a month on eBay.
From analyses it was found that [...]
Hours after refusing to get involved in the issue, British Prime Minister Gordon Brown has vowed to support IRA victims” families in their fight to get compensation from Libya.
He declared that he would set up teams of Foreign Office officials dedicated to helping victims and their loved ones sue Libya.
“I care enormously about the impact [...]
Arianna appeared on “Countdown” tonight, guest-hosted by Howard Dean, to discuss the dysfunctional financial industry, and in particular Congress’s battle to ensure that executive compensation…
Embarrassment for OFT after its annual report reveals alleged fraud and compensation payment to staff member
It spends a lot of time warning the public about the dangers of scams, but Britain’s main consumer watchdog today revealed that it believes it has lost £250,000 after falling victim to an alleged fraud.
The admission was tucked away at the back of the Office of Fair Trading’s annual report for the last financial year, which sets out its achievements and the value for money it is delivering for British consumers.
The OFT said it had suffered “a cash loss of £250,000, of which £97,000 occurred in 2008-09, and £153,000 occurred in 2007-08″. “This was due to an alleged fraud made possible by a control weakness in the Accounts Payable process,” it said.
The watchdog was unable to say much more as the matter was the subject of legal proceedings, it added. It is understood that a former member of staff has been charged with an offence.
The report also revealed that, in a separate matter, the OFT handed over more than £250,000 in the form of a “special payment for compensation” to a member of its staff. “We don’t divulge that kind of thing,” a spokesman said when asked about the nature of the compensation payout.
The watchdog said the work it had been doing on consumer protection, competition enforcement, merger control and investigating markets had saved the British public around £409m a year between 2006 and 2009.
“This means it delivered financial benefits to consumers of around eight times its average annual costs of £53m, and exceeded the five-times cost target set by HM Treasury,” the spokesman said.
Its achievements during the year included:
• Launching its first criminal investigation under the consumer protection regulations – into an alleged unlawful pyramid scheme
• Securing the first UK criminal convictions for cartel participants in a case involving marine hoses, which are used to transfer oil from tankers to storage facilities
• Investigating alleged unlawful pricing practices in dairy and tobacco products, and alleged bid-rigging in the construction industry
Six weeks into his tenure as President Obama’s compensation czar, Kenneth Feinberg has his sights set on pay packages he thinks are too rich for companies propped up by Uncle Sam
More on Bank Of America
House lawmakers next week plan to cast their first votes on President Obama’s overhaul of the financial regulatory system by taking up new restrictions on executive pay practices.
Government seeks to overturn ruling that two servicemen who suffered complications should have compensation increased
The government is attempting to deny injured soldiers full compensation for their health problems, it emerged today.
The Ministry of Defence will go to the court of appeal on Tuesday to try to overturn a ruling that two injured servicemen who suffered complications should have their compensation increased.
The MoD is arguing that the pair should be compensated only for the initial injuries and not subsequent health problems, the Sunday Times reports. The appeal follows the ruling of three judges that the injuries should not be treated as being separate from subsequent treatment.
British troops are suffering their heaviest casualties since the beginning of the conflict in Afghanistan in 2001. A soldier from the 40th Regiment Royal Artillery was killed in an explosion in Lashkar Gah in Helmand province yesterday, the 20th to die this month, bringing the total number of British casualties to 189.
The subjects of the MoD’s appeal are reported to be Anthony Duncan, a soldier with the Light Dragoons who was shot in the left thigh while on patrol in Iraq in September 2005, and Matthew McWilliams, a Royal Marine injured during a training exercise.
After a series of operations to close the wound, Duncan suffered constant pain in his leg and required counselling to deal with “mental anguish” brought on by the injury, the Sunday Times said. He initially received £9,250 in compensation, but he appealed and a tribunal awarded him a lump sum of £46,000 and a guaranteed weekly payment.
McWilliams is said to have been awarded £8,250, which was increased on appeal to £28,750 along with a guaranteed weekly payment because of damage to his knee following surgery.
The MoD confirmed that a high court appeal was in process, and said it was unable to comment on the cases. A spokesman said: “We are committed through the armed forces compensation scheme to paying appropriate compensation to wounded service personnel.”
Last week the former prime minister Sir John Major questioned whether troops were being adequately compensated when injured by Taliban bombs. He said the system “does not adequately address lifelong disability and, particularly, disabling mental conditions”.
Major said the gap between the maximum payment for physical injury of £570,000 and the maximum for mental injury of £48,875 was “too wide”.
The hefty 2009 pay package of Andrew J. Hall, leader of Citigroup Inc.’s lucrative Phibro energy trading unit, may spark a showdown between the New York-based bank and government pay czar Kenneth Feinberg.
Hall’s division generates a substantial chunk of Citigroup’s profit, which the bank sorely needs to get back on its feet and eventually repay [...]
NEW YORK, July 22 — Wall Street’s biggest banks are setting aside billions of dollars more to pay their executives and other employees just months after these firms were rescued with a taxpayer bailout, renewing questions about compensation p…
So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost …
