BRIEFCASE OVITZ PAY PACKAGE CALLED EXCESSIVE.Byline: - Staff and Wire Reports GEORGETOWN, Del. - The compensation package granted to former Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. president Michael Ovitz Michael S. Ovitz (b. December 14 1946, Los Angeles, California) is a former talent agent and Hollywood powerhouse who served as the head of the Creative Artists Agency from 1975 to 1995. was unreasonable and not in the interest of the entertainment giant's shareholders, a compensation expert testified Monday in a shareholder lawsuit. Kevin J. Murphy, an economics and law professor at the University of Southern California The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission , testified that Ovitz's annual base salary and bonus were well above what was paid to similarly situated similarly situated adj. with the same problems and circumstances, referring to the people represented by a plaintiff in a "class action," brought for the benefit of the party filing the suit as well as all those "similarly situated. media executives, as well as presidents who didn't hold the title of chief executive in Fortune 500 companies. The median combined salary and bonus for presidents who weren't CEOs in Fortune 500 companies was $540,000, Murphy said. Ovitz's annual salary and bonus was $8.5 million, he said. Murphy is an expert witness for a group of shareholders suing Disney over an estimated $140 million severance package A severance package is pay and benefits an employee receives when they leave employment at a company. In addition to the employee's remaining regular pay, it may include some of the following:
USA Swimming USA Swimming is the National Governing Body for competitive swimming in the United States. It is charged with selecting the United States Olympic Swimming team, and any other teams which officially represent the United States, as well as the overall organization and operation of , Speedo An earlier scalable font technology from Bitstream Inc., Cambridge, MA (www.bitstream.com). Speedo fonts used the .SPD extension. See FaceLift. keep deal Speedo and USA Swimming announced Monday that they have extended their 20-year partnership through 2012. The eight-year extension, which follows a series of quadrennial quad·ren·ni·al adj. 1. Happening once in four years. 2. Lasting for four years. quad·ren  ni·al n. renewals, ``will enable the two organizations to maximize the sport's long-term marketing efforts following a surge in popularity resulting from this summer's Athens Olympics Athens Olympics
Olympic Games • , highlighted by the performance of Team Speedo's Michael Phelps,'' according to a joint statement. ``Combining the efforts of the world's leading swimwear brand and the world's most successful national swimming federation is the most effective way for both of our organizations to grow over the next eight years,'' said Joe Gromek, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of The Warnaco Group Inc., Speedo North America's parent company. Hilton sees 79% rise third quarter BEVERLY HILLS - Hilton Hotels Corp. on Monday posted a 79 percent jump in third-quarter profits, as strong summer travel demand and higher room rates helped the company's bottom line. Beverly Hills-based Hilton said it earned $61 million, or 16 cents a share, for the quarter, compared with $34 million, or 9 cents a share, a year ago. The latest results included $10 million in earnings, before taxes, from a joint venture that developed a 251-unit condominium project in Myrtle Beach, S.C. Delta gets dough to remain afloat ATLANTA - Delta Air Lines Inc. said Monday it has obtained up to $600 million in new financing as the struggling carrier seeks to avoid bankruptcy. Delta shares surged on the news, climbing 54 cents, or 16.7 percent, to close at $3.78 Monday on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The Atlanta-based airline said that it has entered into an agreement with American Express Travel Related Services Company Inc. to provide the financing, subject to certain conditions. Interest rates rise on short-term bill WASHINGTON - Interest rates on short-term Treasury securities rose in Monday's auction. The Treasury Department sold $21 billion in three-month bills at a discount rate of 1.855 percent, up from 1.770 percent last week. An additional $19 billion was sold in six-month bills at a rate of 2.040 percent, up from 1.990 percent. The three-month rate was the highest since Nov. 26, 2001, when the bills sold for 1.920 percent. The six-month rate was the highest since April 1, 2002, when the rate was 2.110 percent. In a separate report, the Federal Reserve said Monday that the average yield for one-year constant maturity Treasury bills, a popular index for making changes in adjustable rate mortgages, rose to 2.22 percent last week from 2.18 percent the previous week. Pace of venture capitalists slows SAN FRANCISCO - Venture capitalists curtailed their investments in the third quarter, suggesting the financiers who bankrolled the dot-com boom are taking a more sober approach to the revived interest in high-tech startups. A total of $4.33 billion poured into 601 deals nationwide during the three months ended in September, according to data released Tuesday by the National Venture Capital Association, Thomson Venture Economics and PricewaterhouseCoopers. The amount was virtually unchanged from the same time year ago, but represented a slowdown from venture capitalists' recent pace. American Express meets estimates NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - American Express Co., the consumer finance and travel company, said Monday that its profit rose 14 percent in the third quarter to $879 million, or 69 cents a share. That was in line with analysts' estimates. The results for the New York-based company compared with net income of $770 million, or 59 cents a share, in the July-September period a year earlier. Revenue was $7.2 billion, up 12 percent from $6.4 billion in the third quarter of 2003. |
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