Word: golden
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...recapitalize their broken balance sheets. In addition to the cash limit, the "maximum wage" plan allows companies to reward "senior management" - a complement of no fixed definition - with restricted stock, but it can only be cashed in after the government is paid back. There are also prohibitions against golden parachutes as well as a clawback provision - the company may reclaim that stock if its results subsequently tank - that can extend to as many as 25 top executives...
...second-tier companies that want government money, there's a golden-parachute limit of a year's compensation. The $500,000 pay and restricted-stock limits still apply, but shareholders (not a friendly constituency these days) can waive them in a nonbinding advisory vote, and management can act accordingly. (Read "Why Your Bank Is Broke...
...fallacy, says one Wall Street veteran I talked to, is that anyone who occupies one of those golden chairs - global equities, say, or convertible bonds - is almost guaranteed to bring in business and get paid for it. "I could put a monkey in that chair and get a certain level of business," he said. With 46,000 financial jobs having been lost in New York City already, demand is falling, so the risk of losing talent to rivals is declining. The bigger question that should be asked of these big earners, says the Wall Street vet, is this: What...
...Golden Globe-winning actor James Franco will receive the Hasty Pudding Theatrical's 2009 Man of the Year award next Friday, Feb. 13, the group announced earlier today...
...there were such a thing as a golden age of capital punishment in America, it peaked in 1999. There were 98 executions in the U.S. that year, the highest number since 1976, when the Supreme Court, which had overturned all death penalty laws in 1972, began approving them again. For most of the 1990s the number of death sentences handed down annually by courts had been humming along in the range of 280 to 300 and above. And it had been years since the Supreme Court had done much to specify whom states could execute and how they could...