Word: bonus
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...read TIME for its objective and comprehensive news coverage, and an occasional bonus of this sort is indeed a pleasure...
Lazarus set up a new department of acquisitions, put a squad of experts to work analyzing prospective markets. He also thought that Federated should pay well for his work, rowed with Bloomingdale's Samuel Joseph Bloomingdale (TIME, July 16, 1945) over a stock-option bonus plan which would have paid Lazarus & Brothers according to increases in Federated sales. In the end, the stockholders backed Lazarus and he went to work to earn the bonus by expanding into Houston...
...affable Al Johnson, now 47, was running the General Timber Co., Ltd. when Marathon took it over in 1938, retained him as general manager of its pulpwood operations near Port Arthur. His contract called for an annual salary of $7,500 plus a production bonus...
Nothing doing, said Marathon. Reason: while Johnson was away, Marathon had spent about $20 million on expansion, had boosted its output at Marathon, Ont. from 50,000 to over 200,000 cords a year; thus Johnson's annual income under his bonus contract, instead of being about $20,000, would now be over $30,000. Rehiring him at this figure was "not . . . feasible...
...Crown took his case to court. Last week at Port Arthur, Magistrate Walter Russell found Marathon guilty of "lack of intention or refusal to obey the law," fined it $400 (plus costs), ordered it to pay Colonel Johnson $12,158 (twelve weeks' salary and bonus). But Johnson did not get his job back. For Marathon, which had made no bones about its penny-pinching objective, this was cheap. Said jobless Colonel Johnson of the court's award: "With Christmas so close, it's very nice...