Word: breeden
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Dates: during 1990-1999
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...Orange Line. Take the Orange Line to the Haymarket stop and switch to the Haymarket bus station. Take bus #426 to Revere Saugus and get off at Linden Square in front of the Annamark nursing home. Walk up and take a left onto Liberty Avenue, then a left onto Breeden St., and then a right onto Morris St. You will see a big red barn that is Boston Equestrian Center. Make sure to call them ahead of time (338-8400) to schedule a ride...
...Irate unions and shareholders have demanded that business chiefs be held more accountable for the fat compensation packages they get. Congress has threatened to pass legislation to curb excess corporate pay if regulators fail to take on the task. Sensing the growing outrage, Securities and Exchange Commission chairman Richard Breeden unveiled a set of reforms last week that will make corporate boards think twice before handing out multimillion-dollar paychecks to top executives...
...corporate pay packages. These noncash payments, which reward executives handsomely if stock prices rise, often disguise what top managers actually earn. In the past, firms were not required to report a dollar value on such awards, and there was no uniform measure by which shareholders could calculate their worth. Breeden has proposed that companies disclose more fully and succinctly the present value of these payouts...
Corporate leaders unnerved by the latest SEC action won't find much sympathy from the White House. President Bush has been struggling to shed his image as a friend of the wealthy this election year, and Breeden's reforms were cleared in advance by the Administration. Even Congress's staunchest critic of executive pay, Michigan Senator Carl Levin, was impressed: "I'm elated. The SEC did the right thing for stockholders and the American public...
Just as the financial community had feared, the scandal set off by Salomon Brothers' efforts to corner the market for U.S. Treasury securities spread across much of Wall Street last week. On Capitol Hill, Richard Breeden, chairman of the Securities and Exchange Commission, said that "a distressingly large" number of firms had routinely inflated orders for bonds sold by government-sponsored agencies like the Federal National Mortgage Association. The bogus orders apparently enabled firms to purchase extra bonds and resell them at a hefty profit...