When West Virginia University sued Coach Richard Rodrigez, it was kind enough to attach copies of his employment agreement. Take a glance at the types of incentives that some universities pay to head football coaches.
Season Ticket Sales. $10,000 for 30,000 tickets, $20,000 for $35,000 tickets, and $30,000 for 40,000 tickets.
Student Academic Achievement. $10,000 [...]
BusinessWeek: Microsoft Loses Peter Moore. Fresh off the startling announcement that it would take a charge of more than $1 billion to cover costs of repairing defective Xbox 360 video game consoles, Microsoft announced July 17 that its top gaming executive, Peter Moore, was leaving to run the sports franchise at top independent video game [...]
Washington Post: Appeals Court Judge Leaves Life Appointment for Boeing. J. Michael Luttig, the federal appeals court judge who was on President Bush’s short list for the Supreme Court but recently clashed with the administration over a terrorism case, resigned from the bench yesterday to become senior vice president and general counsel at the Boeing [...]
SEC/Press Release: BP Appoints Tony Hayward as Chief Executive as Lord Browne Steps Down. Lord Browne tendered his resignation after the lifting by the UK courts of a legal injunction preventing a newspaper group from publishing details of his private life.
Read the press release for the details. So, was the petroleum industry talking [...]
Reuters/Yahoo! Finance: First US hedge fund IPO raises $634 million. After weeks of anticipation, packed road shows and massive demand, Fortress Investment Group LLC on Thursday raised $634 million with an initial public offering, the first such move by a diversified private equity and hedge fund in the United States.
Fortress Investment Group LLC [...]
Gap Inc. announced that CEO Paul Pressler will step down from his position as president and chief executive officer of the company, as well as resign his seat on the company’s board, effective immediately.
Pursuant to the Employment Agreement between Gap Inc. and Paul Pressler, Pressler is eligible for up to approximately $14 million associated with [...]
Reuters: Salary.com sets IPO at 5 mln shares, $8-$10 each. Salary.com, which provides on-demand compensation management products, set on Friday its planned initial public offering at 5 million shares for an estimated price of $8 to $10 each.
When I saw the above article, I headed straight to SEC EDGAR to take a peak [...]
Marketplace:: Sloan Sessions: Goodbye Bob Nardelli. When Home Depot CEO Bob Nardelli resigned last week, a lot of people were outraged at his severance package: $210 million. That’s a lot of money for a CEO whose company struggled badly while he was on the job.
When Carly Fiorina walked away from HP with [...]
New York Times: KB Home Ousts Its Chief and 2 Others. The longtime chief executive of KB Home, one of the nation’s largest home builders, resigned under pressure on Sunday night and agreed to return $13 million in profit from backdated stock options, the company said.
At first, I thought the stock options backdating problem was [...]
